Credit Union Times Magazine March-30, 2005

  • Corporates Respond to Credit Unions' Custom Investment Demands

    WEST PALM BEACH, Fla. - Whether it's an uncommon term, a special call feature or a unique floating rate option, today's corporate credit unions can now churn out customized investments in as little as a half an hour. Corporates are seeing more demand from credit unions for reverse-inquiry investments. Reverse-inquiry...

  • Credit Union Trades Continue Full Court Press on Bankruptcy Through Spring Recess

    WASHINGTON-The credit union trade associations are not going to let the game slip from their hands now that bankruptcy reform legislation is so close to becoming law. During Congress' spring recess, from March 21 through April 3, the trade associations are encouraging their members to continue to highlight their support...

  • Greenspan Spells Out Message for Banks that Credit Unions Already Know

    WASHINGTON-The clothes and hair were not quite right but the message is the same. Federal Reserve Board Chairman Alan Greenspan sounded very similar to NCUA Board Member Debbie Matz during remarks he gave at the 2005 National Community Reinvestment Coalition Conference March 18. He noted that in a couple years,...

  • FTC Private Insurance Disclosure Comment Request Mirrors Law

    WASHINGTON-The Federal Trade Commission recently announced that it was publishing a notice seeking public comment on proposed disclosure requirements for credit unions and other depository institutions lacking federal deposit insurance. The FTC was delayed more than a decade in writing regulations implementing section 43 of the Federal Deposit Insurance Corporation...

  • Ensweiler Urges Credit Union Marketers to Ban the `B' Word

    PALM SPRINGS, Calif. - Dick Ensweiler is furious that credit unions are using the "B" word to promote their financial institutions. "I think some of you are taking the easy way out," he told more than 400 credit union marketing professionals attending the 12th annual CUNA Marketing and Business Development...

  • Credit Unions Establish Presence at Republican Event

    WASHINGTON-Credit unions were well represented and well connected at a recent National Republican Congressional Committee event. The credit union-friendly Congressman Spencer Bachus (R-Ala.), though he was one of just a handful to vote against the Credit Union Membership Access Act, chaired the dinner March 15, where he invited representatives from...

  • Bankers Highlight "Unfair" CU Tax Exemption to President's Tax Reform Panel

    WASHINGTON-The American Bankers Association and America's Community Bankers used the opportunity of the President's Advisory Panel on Federal Tax Reform's request for comments to individually stress the uneven tax treatment between banks and credit unions. ABA Executive Vice President Ed Yingling stressed that the credit union tax exemption is no...

  • Congress Adds Money for Community Development that Administration Cut; CDFI Supporters Hopeful

    WASHINGTON - In the fight between the supporters of the U.S. Treasury's Community Development Financial Institutions Fund and the Bush Administration, the first round appears to have gone to the CDFI Fund supporters. The Administration sought to eliminate the Fund along with other community development programs in its fiscal 2006...

  • Constitution State Corporate Gets Charter Oak Up and Running on Image Exchange

    WALLINGFORD, Conn. - Constitution State Corporate has been keeping its Check 21 efforts relatively quiet, but the results are now emerging and the corporate seems to have its members ahead of the game for image exchange. The $1.6 billion corporate has one of its largest members, Charter Oak FCU, up...

  • Harvard CU Praised on Loans for Helping People Deal With High Rent Area

    CAMBRIDGE, Mass. - Harvard University Employees Credit Union is winning the praises of both the university administration and a union local for offering what is being described as an innovative loan package to handle costly housing rentals. "A recent problem for the university and the union has been the very...

  • Pennsylvania Regulator Proposes Tough Steps to Curb Predatory Lending Abuses, Stem State's Foreclosure Rate

    HARRISBURG, Pa. - Pennsylvania has the dubious distinctions of having one of the highest foreclosure rates in the U.S. and Secretary of Banking Bill Schenck wants to do something about that. Backed by a report he presented to the Pennsylvania General Assembly March 16, Schenck announced his intention to press...

  • SBA's 504 vs. 7(a)

    504 Loan Program * Provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings; * Secured with a senior lien from a private-sector lender covering up to 50 percent of the project cost, a loan secured with a junior lien from a Certified Development...

  • Utah Taxpayer Group Blasts CURIA Through Ads in Major Utah Papers

    SALT LAKE CITY - Utah may be the prime battleground for bank attacks on the tax exemption but this month it also witnessed a skirmish over the Credit Union Regulatory Improvements Act. Taking out newspaper ads against CURIA is the Utah Taxpayers Association, a group which claims independence but is...

  • SBA's 7(a) Loans Aren't Only Game in Town, Its 504 Loans Gaining Credit Union Interest

    SAN DIEGO - A two-step funding process which not only provides much needed capital to small businesses but also protects a credit union's loan-to-value ratio are some of the perks of an increasingly popular SBA loan program. The SBA's 504 loan program provides growing businesses with long-term, fixed-rate financing for...

  • New Report Suggests Payday Lenders Choose African-American Neighborhoods

    DURHAM, N.C. - A new report has suggested that where payday lenders set up shop may be as much a race issue as a financial one. The Center For Responsible Lending, a subsidiary of the Durham based Community for Self Help, researched the report which charges that African-American neighborhoods in...

  • HELOCS a Growing Lending Potential for Credit Unions

    WASHINGTON - Home Equity Lines of Credit (HELOCs) are quickly accounting for a growing portion of credit unions' loan portfolio. In a Callahan & Associates-hosted Webinar March 22, credit unions already involved with HELOCs had the opportunity to share their lending success stories and strategies for "Helping Members Unlock their...

  • Irwin Mortgage Gets Out of Credit Union Mortgage Market

    INDIANAPOLIS - After five years of building up its credit union lending business, Irwin Mortgage has made the strategic decision to pull out of that market. The company, a wholly-owned subsidiary of Irwin Financial Corp., signed definitive agreements March 14 with American Home Mortgage Corp., a subsidiary of American Home...

  • Mica Defends CUNA's Bankruptcy Reform Support in Wisconsin Paper

    WASHINGTON-CUNA President and CEO Dan Mica recently had a letter to the editor published in the Wisconsin State Journal, defending CUNA's support of the bankruptcy reform bill after a scathing opinion piece against the legislation that noted CUNA as a backer. In the March 6 editorial, Senate Should Reject Bankruptcy...

  • MBAA Summit Addresses "Growing Threat" of Fraud to Mortgage Industry; Credit Union Industry Not Immune, say Experts

    WASHINGTON - Record-low interest rates have helped make home buying a realization for more Americans, while rising home prices have allowed home sellers to reap windfall profits. But in the wrong hands these same factors have also helped savvy fraudsters commit an increasing rate of fraud against borrowers and lenders...

  • Exemption Views in Doubt, Montana Governor Visits CU Outreach Site

    HAVRE, Mont. - Bear Paw Credit Union's prize-winning efforts in community outreach have drawn the attention of the state's Democratic governor, Brian Schweitzer, whose views on the CU tax exemption last year became suspect. In a stopover here to meet with tribal leaders at the Fort Belknap Indian Reservation, the...

  • New Toyota Plant Served by Two CUs

    SAN ANTONIO - Torrance, California-based Toyota Federal Credit Union and San Antonio Federal Credit Union, have teamed up to serve the employees, vendors, suppliers and contractors at Toyota Motor Manufacturing's new San Antonio location. "We look forward to a long and prosperous partnership with San Antonio FCU. Our goal is...

  • Lake Michigan Gets Deeper Into Auto Business

    GRAND RAPIDS, Mich. - The $1.1. billion Lake Michigan Credit Union, an institution which tried, and failed, to move to a mutual bank charter in 2004 has moved even more firmly into the auto leasing and resale businesses. According to the NCUA, Lake Michigan is the second most active credit...

  • CU Direct, LSI Alliance Gives CUs Access to 24/7 Auto Loan Underwriting

    RANCHO CUCAMONGA, Calif. - CU Direct Corp., administrator of the Credit Union Direct Lending and DecisionApp systems, and Elgin, Ill.-based Lending Solutions Inc., have partnered to provide CUs with 24/7 underwriting. CU Direct's new relationship with LSI addresses the loan approval process for the applications that don't receive automatic approval...

  • Donovan, Aide for Rep. Sherman, is CCUL's New D.C.-Based Lobbyist

    RANCHO CUCAMONGA, Calif. - The California Credit Union League has become the first statewide credit union association to have a full-time lobbyist working in Washington, D.C. Starting April 11, Ryan Donovan, legislative director and former acting chief of staff for Rep. Brad Sherman (D-Calif.) is the CCUL's new Washington, D.C.-based...

  • Pentagon FCU Merger Crazy?

    ALEXANDRIA, Va.-Pentagon Federal Credit Union, the third largest in the country at $7 billion in assets, has merged with five credit unions in the last two years. However, according to Pentagon's Vice President for Brands and Marketing Margaret Szeliga, the institutions are seeking Pentagon out, not the other way around....

  • Credit Union Loan Sell-Off to Continue, NAFCU Flash Finds

    ARLINGTON, Va.-NAFCU's latest Flash Report found that credit unions plan to continue to sell off their loan portfolios. In 2004, 64% of credit unions sold loans on the secondary market, mostly comprised of mortgages. Fifty-five percent sold mortgages and another 5% sold student loans with securitized light vehicle loans trailing...

  • First Tech Taps Liberty as New Check Provider

    MOUNDS VIEW, Minn. - First Tech CU, Beaverton, Ore. has selected Liberty Enterprises to provide checks for the $1.45-billion CU's more than 100,000 members in Oregon and Washington State. Under the agreement, Liberty will offer members access to a range of check creation options and services, including a new online...

  • OFHEO Extends Comment Period for Proposed Rulemaking on Mortgage Fraud Reporting

    WASHINGTON - The Office of Federal Housing Enterprise Oversight has extended the comment period for its proposed mortgage fraud reporting regulation from March 28 to April 4. The proposed rulemaking entitled "Mortgage Fraud Reporting" would set forth safety and soundness requirements with respect to mortgage fraud reporting in furtherance of...

  • FDIC to Cut 350 More Jobs

    WASHINGTON-Morale at the Federal Deposit Insurance Corporation has been seriously undercut by perpetual job cuts spanning the last decade. Since the resolution of the S&L crisis, the FDIC has been instituting `Reductions in Force' with the latest round impacting up to 350 employees. Granted, the insurer will not be dumping...

  • Bipartisan Support Should Help Net Worth Amendment Bill Sail Through House

    WASHINGTON-The Net Worth Amendment for Credit Unions Act (H.R. 1042) should have very little trouble making its way through the House. The bill changes the credit union definition of net worth from retained earnings to acquired equity to bring it in line with anticipated accounting changes from the Financial Accounting...

  • NCUF Looking for CU Partners to Provide Homebuyer Counseling Services

    WASHINGTON - The National Credit Union Foundation was awarded a Housing Counseling grant from the U.S. Department of Housing and Urban Development to act as a financial intermediary in providing homebuyer counseling services to low-to moderate-income people to prepare them for homeownership. Now the NCUF is looking for CUs to...

  • CFA, Fair Isaac Study: Many Americans Misunderstand Credit Scores

    WASHINGTON - The Consumer Federation of America and Fair Isaac held a press conference March 15 to discuss the findings of their new survey which show that almost one-half of consumers in the U.S. do not understand key facts about credit scores. Among the findings of the study that was...

  • Utah Fight Seen as Fallout from Bank Rivalry

    RIVERSIDE, Calif. - According to an ex-Zions Bank executive, the bitter credit union/bank clash in Utah has much to do with "basic competition at work" and an eagerness by Zions management to keep an out-of-state rival from gaining market share in that state. That assessment comes from Christopher O'Malley, who...

  • CUNA's CFO Council Wants to Know if Members are Using the Saver's Tax Credit

    WASHINGTON - As Congress considers extending the Saver's tax credit, CUNA's CFO Council wants to know how many members actually receive it for their individual retirement accounts. Congress is considering extending the Saver's tax credit program past its scheduled expiration in January 2006. The Saver's tax credit provides a government...

  • Vermont Senate Begins Review of Credit Union Bill

    MONTPELIER, Vt.-Vermont credit unions are one step closer to achieving a modernized statute. The state's Senate Finance Committee conducted its first read-through of the CU bill (H.149) on Tuesday, March 22. After three readings, members of the Vermont House voted to approve the bill at the end of the previous...

  • BrightStar CU Honored by Ft. Lauderdale for Longevity

    SUNRISE, Fla. - BrightStar Credit Union is among the businesses featured in the Fort Lauderdale Historical Society's new exhibit, "The Businesses That Built Fort Lauderdale." The $260 million credit union is a part of an exhibit that focuses on organizations that have sustained themselves for more than 50 years in...

  • Alliant and American Credit Union Debut 14 Airport ATMs

    CHICAGO - The switch on those 14 ATMs at two Chicago airports operated by Alliant Credit Union and American Airlines Employees CU of Dallas under a partnership with two banks here has been formally turned on. In a statement, David Mooney, Alliant president and CEO, said the five year-ATM pact...

  • Robins FCU, Identity Theft 911 Offer Members ID Theft Options

    WARNER ROBINS, Ga.- Robins Federal Credit Union is joining a growing number of credit unions that are opting to help members fight back identity theft by partnering with Identity Theft 911. Under the new program, Identity Theft 911 victim resolution services and consumer education, which provides ongoing fraud alerts, a...

  • Bremer to Share Crisis Management Skills at Expanded CCUL Government Relations Rally

    SACRAMENTO, Calif. - The California Credit Union League announced that L. Paul Bremer III, recent presidential envoy to Iraq and administrator of the Coalition Provisional Authority, will be the featured speaker at the League's annual Government Relations Rally April 5-6. Bremer, who will be introduced by state Assembly Republican Leader...

In Other News

  • SCHOLARSHIPS

    Defense Credit Union Council, Washington, has awarded the 2004 George E. Myers Scholarships to Fort Monroe CU President/CEO Michael Guida, and Northern Tier FCU President/CEO Darrell Roos. Guida and Roos will be using their $2,500 scholarships to attend the DCUC Annual Conference in Charleston, S.C. DCUC established the George E....

  • MILESTONES

    Global Credit Union, Spokane, Wash., own James Addlesberger has completed 34 years of service with the credit union. Addlesberger has worked in Global's Italy branches his entire career starting at Camp Darby, Tirrenia, Italy in 1970, when Global was still named Fairchild Federal Credit Union.

  • AWARDS

    Spokane Teachers Credit Union, Wash., has named Business Development Manager Jackie Wright the 2004 Employee of the Year. In addition, STCU has named its Business Development/Public Relations Department and Business Services Department as the 2004 Teams of the Year. Branch Support Officer Karen Blair was awarded the Mike Armstrong Outstanding...

News

News Briefs

  • CULAC Splits Largest Contributions Between Dems and GOP

    WASHINGTON-CUNA's political arm, the Credit Union Legislative Action Council, made large contributions to members of Congress on both sides of the aisle last month. CULAC maxed out with $5,000 contributions to Republicans Speaker of the House Dennis Hastert (R-Ill.) and five-term representative Heather Wilson (R-N.M.). The political action committee also...

  • Mountain America CU PR Officer Goes to D.C. to Talk Financial Literacy

    SALT LAKE CITY-Mountain America Credit Union Public Relations Officer Jodi Mitchell has recently provided her input to the U.S. Department of Treasury's Financial Literacy and Education Commission in Washington D.C. regarding the national strategy of financial education. Mitchell is one of only eight lender representatives selected as part of the...

  • Allpoint Signs Three State Credit Union Leagues

    BETHESDA, Md. - State credit union leagues in Pennsylvania, Maryland and Delaware have signed agreements that will allow their member credit unions to sign up more easily with Allpoint, the ATM network which charges credit unions a flat fee to provide free ATM access to their cardholders. The deal was...

  • Matthews, CU Industry, NCUA Veteran, Dies

    ELLISVILLE, Miss. - Lorena Matthews whose credit union career included working both on the credit union side as well as with the NCUA, died March 21. She was 92 years old. A native of Meridian, Miss., Matthews' history with the NCUA spanned several years in the 1970s (see CU Times,...

  • Diamond Award Winners Named

    PALM SPRINGS, Calif. - Cindy Morgan, marketing manager at New England Federal Credit Union in Williston, Vt., was named marketing professional of the year at the 2005 Diamond Awards ceremony at the 12th annual CUNA Marketing and Business Development Council Conference. Rhonda Summerbell, senior manager of university relations at University...

  • Credit Unions Lose a Retirement Savings Reform Advocate

    WASHINGTON - Rep. Rob Portman (R-Ohio), considered by many in the credit union industry as an advocate for retirement savings reform, is leaving his post to become a U.S. Trade Representative. Portman's record for reform is significant: he, along with Rep. Ben Cardin (D-Md.) introduced the Pension Preservation and Savings...

Marketing

  • MaPS Launches Youth Program

    SALEM, Ore.- Marion and Polk Schools Credit Union (MaPS) is getting into the youth market by unveiling its new Youth Savings Program targeting members from birth to age 17. Designed to provide educational and savings opportunities for young members, to help them better understand personal finance, the new program will...

  • Montauk Credit Union Marketing Director Running for Good Cause

    NEW YORK - It took one Leukemia and Lymphoma Society Team in Training meeting to get Montauk Credit Union Marketing Director Christina Goethe hooked on running. With a goal of raising $4,000, Goethe is currently in training to run her first marathon -the Rock-n-Roll Marathon in San Diego on June...

  • And the CU ADDY winners are.

    WEST PALM BEACH, Fla. - Credit union marketing campaigns across the country are garnering ADDYs. The American Advertising Federation conducts the ADDY awards through its 200 clubs and 15 districts. The ADDY awards represent the true spirit of creative excellence by recognizing all forms of advertising from media of all...

  • MidWest Financial, Alpha Remodeling "Marvelous" Makeover Hits PAX TV

    ANN ARBOR, Mich. - Look for MidWest Financial Credit Union and local remodeling firm Alpha Remodeling's recent remodeling for the Lewis family Saturdays in April at 9:30 am on PAX TV. Washtenaw County Family Independence Agency staffer/MidWest Financial CU member Jamie Lewis was the recent winner of a joint Marvelous...

  • Local Celebrity Stops By Vantage CU

    ST. LOUIS - Vantage Credit Union recently took the opportunity on President's Day to educate local CBS affiliate News 4 Morning Anchor/Reporter Virginia Kerr on the importance of financial literacy. Vantage CU Community Education Specialist Rachel Parrent, who coordinates the CU's Money Matters program spent the morning with Kerr. Money...

  • Postal CU Taps Students for Teen Marketing

    WOODBURY, Minn. - Who better than a teen to know what would appeal to other teens? Postal Credit Union (PCU) has teamed up with Tartan High School DECA students for the fourth consecutive year to create marketing pieces that will appeal to the credit union's teenage members. The students conduct...

  • LA DOTD FCU Awards Millions -in Points

    BATON ROUGE, La. - LA DOTD Federal Credit Union members William and Sherry Pousson are the lucky "million and more" scorecard point winners of the LA DOTD Federal Credit Union and Certegy Score Card Rewards Program Drawing. The Score Card Rewards Program is a bonus for members to gain prizes,...

Tech Bytes

  • GrooveCar Taps TCI for Indirect Lending Platform

    HAUPPAUGE, N.Y. - GrooveCar, an auto buying and support program for credit union in members in New York City and surrounding areas, will now be using the DecisionLender Web-based indirect decisioning system from Teledata Communications Inc., the companies announced. GrooveCar will use the DecisionLender system as an ASP service under...

  • ShareOne Sees Income Surge in `04

    MEMPHIS, Tenn. - Share One, a credit union data processing and Internet services CUSO, said its net income came in at $485,000 last year on gross receipts of almost $3.8 million. Gross income increased by $288,562 over fiscal year '03, while net income rose by $750,477. Share One is a...

  • AOD FCU's New CEO Makes Core Processing Pick

    BYNUM, Ala. - The first big decision by AOD Federal Credit Union's new president and CEO was to select a core processor to handle his 22,000 members' basic financial transactions. Ken Reynolds was named to the top spot at the $144 million CU (www.aodfcu.com) in September and after a due...

  • Alaska USA Streamlines Credit Counseling Payments by Tapping into MasterCard RPPS

    ANCHORAGE, Alaska - Alaska USA believes it is the first credit union in the nation to tap into the power of the MasterCard RPPS network to receive electronic payments from credit counseling agencies and pro-rating firms. Many credit unions have relationships with credit counseling agencies that help consumers repay their...

  • Corillian Adds Web Visitor Locator Specialist to Phishing Fight

    PORTLAND, Ore. - Corillian Corp. has added a Web geo-locator service to its Corillian Fraud Detection Service, bolstering its ability to thwart phishing attacks before they get under way, the company says. The Corillian Fraud Detection System uses Web log analysis to identify phishing behaviors before an attack is launched,...

  • CBC FCU Deploys COWWW Software

    OXNARD, Calif. - CBC Federal Credit Union is the latest to deploy the Web-based document-management solution from COWWW Software. The $260 million CU (www.cbcfcu.org) says it will use the Michigan company's imaging system and browser-based retrieval package to improve teller service and reduce annual maintenance fees for COLD storage and...

  • Seven Credit Unions Commit to SAIL Indirect Lending Platform

    AUSTIN, Texas - Three-year-old Teres Solutions continues to gain traction in credit union land, announcing seven new credit union users of its indirect auto lending software solution - SAIL (Software Application for Integrated Lending.) The new clients are $1.7 billion Redstone FCU in Huntsville, Ala.; $890.2 million Central Florida Educators...

Letters to the editor

  • CAMEL Rating Doesn't Take into Account Value to Members

    At our examination last year, we received much lower grades on part of our CAMEL ratings due to our return on assets ratio. Our ratio is much lower in this category since we return about two and a half times as much of our gross income to our members in...

  • Williams: Thanks For Everything

    I would like to express my sincere appreciation to Credit Union Times for honoring me as the 2004 Credit Union Times CEO of the Year. The beautiful, engraved crystal trophy symbolizing the recognition will be something I will always treasure. The framed front page issue of Credit Union Times in...

Opinion

  • Dark Shadows

    Bright Lines? More like dark shadows. Answering `how will we know what to originate' is easy once we understand who's behind the Hagel Bill: big banks and the Mortgage Bankers Association of America. If S.190 becomes law, U.S. mortgage lending will be controlled by the largest lenders. Smaller lenders -...

  • NCUA Issues Appraisal FAQ Sheet with Banking Regulators

    ALEXANDRIA, Va.-NCUA jointly released a frequently asked questions guide with the other federal banking regulators last week. NCUA, together with the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision prepared the FAQ...

  • The Need for Legislation and Financial Reform

    Accounting issues unearthed at Freddie Mac and at Fannie Mae point up the need for stronger financial oversight of the GSEs. Customers of financial institutions and financial service providers have a right to expect their safety and soundness. I fully support the need for legislation and regulation that strengthens the...

  • Legislation and Oversight v. Public Policy

    Homeownership has been U.S. public policy since the Franklin Roosevelt Administration. The GSEs were chartered as a matter of public policy, to ensure that a constant source of affordable credit would be available to all geographic regions of the U.S. so that people everywhere could become homeowners. It's worked. Homeownership...

  • Business Services: There's More to Risk Management than Meets the Eye

    Business services offer tremendous growth opportunities for our industry. It's obvious that credit unions must manage risks when doing business lending. But there are many other aspects of a business services program that carry risk, and credit unions must be prepared to manage them properly. When we consult with a...

  • What Can You Do?

    Dark Shadows was pseudo-scary. Hagel's Bill is truly scary. If you're frightened, do three things now. First: support legislation that strengthens financial oversight of the GSEs. Fiscal responsibility and adequate capital levels make sense. Second, oppose - strenuously - legislation that limits our ability as lenders to provide our members...

  • Bright Lines or Dark Shadows: The Other Side of GSE Reform

    Dark Shadows was a campy 1960s, pseudo-scary soap opera that tempted its audience with mysterious goings-on just out of the viewer's sight, at least until the next episode. Pending legislation that reforms regulatory and business oversight of Fannie Mae and Freddie Mac has that same feeling: there's more to it...

  • Bright Lines

    Hagel's bill, co-sponsored by Senators Elizabeth Dole (R-N.C.) and John Sununu (R-N.H.), includes a proposal to `clarify the mission' of the GSEs by defining their permissible activities. The Hagel Bill makes direct or indirect loan origination impermissible by the GSEs. It does so by defining primary and secondary mortgage activities....

People

  • SOUTH

    Truliant Federal Credit Union, Winston-Salem, N.C., has promoted Troy Martens to vice president, consumer/real estate lending. Gulf Winds Federal Credit Union, Pensacola, Fla., President/CEO Chris J. Rutledge has been appointed Southeast Corporate board director. Innovations Federal Credit Union, Panama City, Florida, has named Scott Gladden vice president operations.

  • EAST

    North Jersey Federal Credit Union, Totowa, N.J., has named Bob Mark business development representative. Dutch Point Credit Union, Inc., Wethersfield, Conn., has named Charlyn Reese vice president finance. Jeanne D'Arc Credit Union, Lowell, Mass., Executive Vice-President/Chief Financial Officer and Investment Officer Gerald Freitas and Senior Vice-President of Human Resources Elaine...

  • WEST

    Orange County's Credit Union, Santa Ana, Calif., has named Ka'Ree Chatman vice president of retail branch administration and Reza Mahdavi St. Andrew branch manager. In addition, OCCU has promoted Christine Bass to assistant vice president, retail support services. Redwood Credit Union, Santa Rosa, Calif., has named Carol Parish Novato branch...

  • MIDWEST

    TopLine Federal Credit Union, Maple Grove, Minn., has promoted Michael Edwards to vice president of lending/administration and Katie Pitman to vice president of sales/ marketing. Western Credit Union, Columbus, Ohio, has named Carrie Patrick Delaware branch manager.

From the Board Room

  • San Francisco FCU Board Director Named Director of the Year

    SAN FRANCISCO - San Francisco Federal Credit Union Board Director/SF International Airport Director John L. Martin has been named the 2004 "Director of the Year" by Airport Revenue News (ARN). ARN is the leading monthly trade magazine covering airports and airport finances. Martin has been recognized by ARN for his...

  • New Alliant CU Chairman Enjoying Board Life, Focused on Fostering Great Relationships

    CHICAGO - A credit union member for some 25 years and a board member for eight years, Alliant Credit Union's new board chairman John Samolis loves serving and is excited about where the credit union is headed. He says the recent name change and strategic change to not just serve...

  • Pacific North West FCU Chairman's Business Savvy Honored

    PORTLAND, Ore. - Pacific NW Federal Credit Union Chairman Paresh Patel has been named Oregon's Small Business Person of the Year for 2005. The owner of Courtesy Vending, a company that operates vending machines throughout the Portland metro area, Patel earned an undergraduate degree and a MBA while tripling his...

  • CUES Launches e-Vote

    MADISON, Wis. - CUES and Survey Research Associates have teamed up to help improve the board election process by launching eVote. The online voting service includes a customized election site; secure, controlled login to eliminate multiple voting; informative online display with each candidate's picture, resume and position statement; and a...

Quotes Worth Quoting

  • Quotes Worth Quoting

    "We also had things that did not happen. In March, anyway, we did not have a Thomas hearing." - CUNA Vice President of Legislative Affairs and Senior Legislative Counsel Gary Kohn speaking about legislative activity and inactivity during the month of March, specifically noting that the House Ways and Means...

Publisher's Column

  • Conversion Attempts Continue To Make Headlines

    News stories about credit unions seeking to convert to a bank charter were once just a sometimes thing in Credit Union Times. No longer. Now almost every weekly issue contains at least one timely news story on the subject. The reason for the stepped up coverage is simple. There is...

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