Credit Union Times Magazine May-04, 2005

  • Running for Fun and Fundraising, Credit Union Officials Participate in Boston Marathon

    BOSTON-Aside from their daily duties in the credit union industry, a number of officials hit the streets of Bean Town April 18 to participate in the 109th running of the Boston Marathon. Sixty-year-old Joe Boyle, NAFCU director of planning, programming and special projects, admitted two days after the 26.2 mile...

  • Johnson Announces RegFlex, FOM, LICU Plans to Texas League

    WASHINGTON-Well-managed, well-capitalized credit unions have earned the privilege of flexibility in some of their oversight, NCUA Chairman JoAnn Johnson told officials from the Texas Credit Union League. During a recent event at Credit Union House in Washington, D.C., Johnson outlined her plans to move forward with an update to the...

  • Sen. Jeffords Not to Seek Re-election

    WASHINGTON-Senator Jim Jeffords (I-Vt.), famous-or infamous-for leaving the Republican party a few years ago and pushing the Senate in favor of the Democrats, recently announced that he would not seek re-election in 2006. Jeffords will have served 18 years in the Senate and served in the House for several years...

  • Suriname Visited by Truliant FCU, North Carolina CU League

    WINSTON-SALEM, N.C. - The exchange of credit union ideas were on the agenda during a recent trip to Suriname by Truliant Federal Credit Union and the North Carolina Credit Union League. Marcus Schaefer, president/CEO of the $983 million Truliant along with John Radebaugh, president/CEO of the North Carolina Credit Union...

  • Annual Meetings an Opportunity to Connect with Members, Some CUs see Attendance Numbers Rivaling GAC

    WESTPALM BEACH, Fla. - In the search to distinguish itself from the competition have credit unions overlooked the annual meeting. Some credit unions view annual meetings as an opportunity to show the credit union difference by pulling out all the stops to not only attract but also thank members. Virginia...

  • 30 Credit Unions Leave California/Nevada Leagues Over Ad Campaign

    RANCHO CUCAMONGA, Calif. - The California Credit Union League said last week 30 of its 417 credit union members have now resigned from the League opting out of mandatory participation in its $6 million advocacy campaign. "Well, I'd say it's disconcerting to have even one resignation but given where we...

  • Business Lending Experts on Hand for Dow Louisiana FCU's Program Launch

    BATON ROUGE, La. - Dow Louisiana Federal Credit Union recently introduced its new business lending program to the community by sponsoring a small business seminar to educate local entrepreneurs and decision-makers about the different resources that are available to help their small and medium-sized businesses grow. The $120 million DLFCU's...

  • SSFCU Provides "Summer Solutions"

    SAN ANTONIO - Security Service Federal Credit Union opted to ring in National Credit Union Youth Week by offering a free "Summer Solutions" workshop for local youth. The workshop, which drew more than 100 attendees, featured various organizations from around the San Antonio area that offer summer job and volunteer...

  • PCUA Sets Theme for SNAP Campaign

    HARRISBURG, Pa. - The Pennsylvania Credit Union Association has chosen the theme for its 2005 statewide advertising campaign (SNAP). The theme for this year's campaign is "Building Strong Communities by Investing in You," and PCUA SVP Communications and Marketing Mike Wishnow said it's intended to demonstrate credit unions' commitment in...

  • Lynch's Speech, Performance an Inspiration

    BOSTON - Katie Lynch a life long patient of Children's Hospital Boston and a Kids at Heart MarathonTeam runner, was a guest speaker at EasCorp's recent Annual Meeting. Lynch, who is 28 inches tall and has a unique form of dwarfism, graduated from Regis College last May and has since...

  • Credit Unions Seek Out Loan Participations for Portfolio Diversity, Return on Earning Assets

    WASHINGTON - Member business lending has opened up a window for credit unions to participate in loan participations. Since June 2004, the nation's top 15 credit unions in loan participations saw a 185% increase in the number sold and a 120% increase in the number bought, according to Callahan &...

  • Maryland, D.C. League Begin Committee Meetings Toward Partnership Approval

    BALTIMORE, - Two weeks after they announced their plan to work towards a merger agreement, committees formed by board members from both the Maryland and District of Columbia credit union leagues met by conference call last week to begin the process of developing materials for their memberships to approve the...

  • Holub Testifies Before State Commission on Regulatory Enhancements

    JEFFERSON CITY, Mo. - Rosie Holub, president/CEO, Missouri CU Association testified April 25 before the Missouri State Government Review Commission and shared her opinions with the Commission on possible enhancements to the credit union regulatory process and overall enhancements in the Department of Economic Development. Holub was invited to testify...

  • Stay `In CU Family' Says North Dakota CEO

    BISMARCK, N.D. - Appealing to her peers, the president of the $150 million Capital Credit Union, the state's second largest, has urged CUs angry over a restrictive, new field of membership law to remain "in the credit union family" and avoid taking any drastic steps like converting to a mutual...

  • Coalition Forms to Oppose Community Credit Union Charter Conversion; "Vote to Keep Our Credit Union" is Simple Message

    DALLAS - A coalition of members from the $1.4 billion Community Credit Union has formed to oppose the financial institution's proposed conversion to a bank. The coalition was established by a group of Community Credit Union members to help other credit union members make an informed choice about whether or...

  • Community CU's Annual Meeting Gets Ugly as Conversion Opponents Tossed Out; Blaine, Ensweiler Make Appearances

    RICHARDSON, Texas - Community Credit Union's member disclosure materials state that a charter conversion to a mutual savings institution is "in the best interests of our members." Some members believe tactics used by the credit union at their shareholder annual meeting held at Richardson Civic Center April 25, like not...

  • Michigan League Launches Major Co-op Ad Campaign to Try and Shrink Credit Unoin Consumer Awareness Gap with Banks

    PLYMOUTH, Mich. - On the drawing boards for nearly eight months, the Michigan Credit Union League is launching its most ambitious co-op advertising campaign ever with a goal of cementing "protection from banker attacks" while also pushing a branding theme with a harder edge on the CU difference from banks....

  • Member Service Group Supports 13 Leagues

    HELENA, Mont. - Despite the demise of the CU Association of the West, other groups throughout the U.S. are successfully serving as umbrella organizations for state credit union leagues. One of them, the Member Service Group, is a consortium of 13 state leagues that originally was established in the late...

  • No Word Yet for Illinois CUs on Regulatory Fee Litigation

    NAPERVILLE, Ill. - Illinois credit unions waiting to learn what the next developments are on pending regulatory fee litigation, are going to have to continue to be patient. Speaking at the Illinois Credit Union League's annual meeting April 21-23, Director of State Government Affairs Keith Sias told attendees there has...

  • Proposed Bill Would Require Calif. CU Employees to Report Suspected Elder Abuse or Face Misdemeanor Charges

    SACRAMENTO, Calif. - California lawmakers are proposing legislation that would require credit union employees to report known or suspected elder abuse to authorities. While credit unions don't dispute the importance of the intent of the measures, they take issue with the penalties for lack of compliance - failure to do...

  • Voices of Disapproval Get Louder from Credit Union Industry on SEC's Point of Sale Disclosure Proposal

    WASHINGTON - The SEC is receiving more feedback from the credit union industry on its proposal that would add more disclosures for investors at the point of sale. The SEC has proposed requiring broker-dealers to provide their customers with information regarding the costs and conflicts of interest that arise from...

  • Texas CU League Puts Up its Site About Credit Union Conversions, Hoping to Round Out Picture

    DALLAS - The almost 500,000 members of both the $1.4 billion Community Credit Union and the $1.2 billion OmniAmerican Credit Union who are being asked to approve their credit unions' application to become mutual banks now have another place to find answers to their questions. The Texas Credit Union League...

  • Johnson at One-Year Mark: NCUA Chairmanship is a Career Highlight

    ALEXANDRIA, Va.-Even after having been a schoolteacher and state legislator, NCUA Chairman JoAnn Johnson stated that her first year as head of the agency has been the pinnacle of her career. "It's energizing for me. This past year has been the best year of my professional career in any of...

  • Internal Fraud Often Surprises, Shocks Credit Unions, but They Can't Risk Doing Nothing

    MADISON, Wisc. - After a couple decades investigating fraud, Joette Colletts has pretty much been there, seen that. Colletts, senior risk management specialist with CUNA Mutual Group, has learned even longtime, trusted credit union employees may commit fraud. She can readily cite examples. In one case, a 20-year employee ranking...

  • Credit Unions Measure Economic Impact in Alabama

    TUSCALOOSA, Ala. - When Samuel Addy started looking at the economic impact of credit unions in Alabama, one thing impressed him. "I was personally surprised about the size of the membership," Addy says. "They have practically a third of the state's population. Alabama has a population of about 4.5 million....

  • Criminals on Phishing Expedition in NCUA's Virtual Waters

    ALEXANDRIA, Va.-Phishing scammers hit NCUA's Web site last week, the agency warned the credit union community. NCUA sent out an alert last Monday that the agency had been the victim of a phishing scam in which e-mails that appear to be from NCUA were sent to the general public and...

  • Credit Unions Increasingly Turning to Mortgage Securitization to Reduce Interest Rate Risk, but Retaining Servicing Rights

    ARLINGTON, Va. - More credit unions may be using mortgage securitization to reduce interest rate risk and provide needed liquidity, but the findings of NAFCU's Flash Report Survey for April show most still retain the servicing rights on all mortgage loans. According to NAFCU federally insured credit unions sold $99...

  • ID Theft 911 Bursts on Credit Union Scene in Fight Against Fraud

    SCOTSDALE, Ariz. - In the identity theft battle, so far some 400 credit unions have joined other organizations in putting ID Theft 911 on "speed dial" and company execs couldn't be happier. According to founders Adam Levin, chairman; Steven Christenson, president; and SherylChristenson, CEO; the idea of creating a company...

  • Former SBA Executive and now Lafayette FCU CEO Hearne Continues to Press Congress to Remove MBL Barriers

    WASHINGTON - With nearly 10 years of experience at the SBA, Michael Hearne, president/CEO Lafayette FCU is in a keen position to tell Congress about the barriers that credit unions face when starting member business lending programs. Speaking on behalf of CUNA, Hearne, who heads the $304 million, Kensington, Md.-based...

  • NAFCU Tells FTC Credit Scores are Useful

    ARLINGTON, Va.-In response to a request for comment by the Federal Trade Commission, NAFCU told the agency that its membership found credit scores highly useful in making credit decisions. The FTC, in conjunction with the Federal Reserve Board, must conduct a study on the effects of credit scores on the...

  • CU Association of the West Quietly Fades Away, But Leaders Say League Cooperation Lives On

    FEDERAL WAY, Wash. - Saying that it had accomplished what it set out to do, a consortium of four credit union leagues known as CU Association of the West has quietly disbanded. The association, an umbrella group composed of the California, Nevada, Washington and Oregon credit union leagues, was formed...

  • South Dakota League Picks New CEO

    SIOUX FALLS, S. D. - The South Dakota Credit Union League, which more than a year ago courted a failed consolidation with the North Dakota League, has hired Peter Henthorn, a Boulder, Colo. businessman, as its new president/CEO effective June 5. Henthorn, owner of a consulting firm which has been...

  • Colorado Shared Branching Promotes COO to CEO

    ARVADA, Colorado - The Credit Union Service Network, a shared branching network working Colorado and Wyoming, has named Doug Burke, its COO to become its new CEO. This newly created position was developed by CUSN leadership in order to take advantage of new opportunities that will heighten service and provide...

  • Utah League Makes Rounds to Congressional Offices

    WASHINGTON-The Utah League of Credit Unions completed a Hike the Hill last week with some positive news from its congressional delegation. According to CEO Scott Simpson, the league's main objective this visit was to deliver the approximately 158,000 signatures it collected from Utah's citizens opposing the state legislature's resolution urging...

  • CUNA Mutual Group Aligns with Profitstar, Inc. to Provide More ALM Options

    MADISON, Wis. - CUNA Mutual Group has linked up with Omaha, Neb.-based Profitstar Inc., to expand its array of asset-liability management and profitability software solutions for credit unions. CUNA Mutual will recommend Profitstar as a new ALM option for existing clients while it phases out support of Model Management over...

  • Graham Departs $3 Billion Kinecta FCU

    MANHATTAN BEACH, Calif. - Kinecta FCU CEO Thomas Graham has left the credit union effective April 29. The $3 billion credit union did not disclose any terms of Graham's departure. Graham joined Kinecta in 1990 as SVP of administration. At that time the CU was called Hughes Aircraft Employees FCU....

  • NCUA Offers SCUP Delinquency Control Workshop

    BUFFALO, N.Y.-NCUA's Office of Small Credit Union Initiatives is holding a Small Credit Union Program workshop May 14 to help small credit unions keep their delinquencies under control. The workshop is free and includes presentations on "Delinquency Control-Effective Collection Techniques for Small Credit Unions" and "How to Properly Handle Inactive/Dormant...

  • United Community CU Launches U-University

    HOUSTON - In honor of National Credit Union Youth Week United Community Credit Union has unveiled a new teen financial network, U-University. The teen financial education program is open to members between the ages of 13 and 18 and will allow younger credit union members to earn vouchers for certain...

  • Amir, Dick Leave Top Corporate CU Marketing/ Communication Positions

    LENEXA, Kan. and SAN DIMAS, Calif. - U.S. Central and WesCorp each have top marketing/communication positions to fill. WesCorp Director of Marketing Freda Amir is resigning her position effective April 29. Amir is moving to New York to take a job with Goldman Sachs as its vice president of business...

  • Solomon Named CEO of Primary Financial LLC

    COLUMBUS, Ohio - Primary Financial LLC has named Mark Solomon as its first president/CEO. Primary Financial, a CUSO owned by the corporate credit union network, is best known for its SimpliCD brokered CD product, which has almost $3 billion outstanding. The CUSO was first created by Corporate One FCU, and...

  • Texas Financial Education Literacy Bill One Step Closer to Becoming Law

    AUSTIN, Texas - The Texas House of Representatives approved a measure - H.B. 492 - that makes financial literacy education in Texas a prerequisite for graduation from any public or charter high school in the state. H.B. 492 was championed by state Rep. Beverly Woolley (R-136) chair of the House...

  • Feds Issue Guidance and Advisory on Money Services Businesses

    WASHINGTON-The federal financial services regulatory agencies, including NCUA, and the Financial Crimes Enforcement Network issued joint guidance and an advisory April 26 on banking services for money services businesses in the United States. Regulators have expressed concern that depository institutions have not been serving money services businesses-such as check cashers...

  • Clark County CU Finances $7 Million for Downtown Building

    HENDERSON, Nev. - Clark County Credit Union will be among the first occupants of a downtown office space it has agreed to provide $7 million in financing. The $340 million credit union will finance Water Street South, a two-story, 30,000-square-foot building, which is the first on several redevelopment projects for...

  • Invest in the Future, Matz Tells Montana Credit Unions

    BILLINGS, Mont.-NCUA Board Member Debbie Matz urged credit unions to invest in their future by reaching out to new members from all ages and walks of life in remarks to the Montana Credit Union Network's Annual Convention. "Credit unions need to attract younger members and other underserved consumers who will...

  • South Carolina FCU Helps Kids "Want it, Save it, Get it!"

    NORTH CHARLESTON, S.C. - South Carolina Federal Credit Union has helped children learn positive spending habits in a fun way. This year's National Youth Credit Union Week theme is "Want it. Save it. Get it!," which refers to kids finding something they want, saving for it and realizing their goal...

  • HawaiiUSA FCU Sponsors Million Penny Drive

    HONOLULU - HawaiiUSA Federal Credit Union has helped Princess Kaiulani Elementary School with its project to raise 1,000,000 pennies ($10,000) for the tsunami victims. When the school came up with the idea to collect a million pennies HawaiiUSA FCU was the only financial institution to step forward with assistance. The...

  • NCUA Reiterates Position to ABA on CUNA Mutual MBL Program

    ALEXANDRIA, Va. - NCUA stood by its recent approval of a new investment fund pilot from CUNA Mutual Group in response to concerns from the American Bankers Association. CUNA Mutual's new CU Systems Fund, approved by NCUA at its March 17 board meeting, would allow for the purchase of business...

  • MasterCard Gearing Up For a Real Push On Debt

    PURCHASE, N.Y. - Financial literacy has generally focused on helping consumers stay out of debt, but a new program from MasterCard International, the nation's second largest card brand, is aimed at helping consumers conquer the debt they may have already accrued. "One way that this program differs from what has...

  • Advance Financial FCU Unveils New Mascot

    SCHERERVILLE, Ind. - National Credit Union Youth Week marked the end of the Advance Financial Federal Credit Union new Kids Club Mascot Hunt. The winner- Moe Monkey- designed by 12-year old Cathy Delgado will appear at public events and grace the pages of the Kids' Club newsletter, Web site and...

  • CUNA Seeking Nominees for Board Elections

    WASHINGTON-CUNA recently sent a letter to its member credit unions seeking nominations to fill a number of board openings. CUNA Board seats up for election include District 1, Class B; District 2, Class C; District 3, Class A; District 3, Class D; District 4, Class B; District 4, Class D;...

  • Credit Unions Have Safer Business Lending Record than Banks

    WASHINGTON - Business lending at credit unions has a safer track record compared to banks and thrifts, according to a U.S. Treasury Department study. The study found that member business loans are generally less risky than commercial loans made by banks and thrifts because they generally require the personal guarantee...

  • Raritan Bay, NJCUL Team up for Financial Literacy

    SAYREVILLE, N.J. -Raritan Bay Federal Credit Union, along with the New Jersey Credit Union League has helped raise the financial IQ of students at South Amboy Middle and High School. To kickoff National Credit Union Youth Week, NJCUL Vice President Mary Moulds stressed the importance of financial literacy through games...

  • Three Re-elected to ASI Board

    DUBLIN, Ohio-American Share Insurance announced last week that three of its board members had been re-elected by the membership to three-year terms. During ASI's Annual Meeting of Participating Credit Unions April 20, it was revealed that ASI President and CEO Dennis Adams, Greater Cleveland Fire Fighters Credit Union Treasurer Pete...

  • Credit Unions Try to Navigate Around Tight Margins, ROA Declines

    WASHINGTON - Even as margins continue to be tight and return on assets (ROA) are on the decline for credit unions, there are some that are managing to hold their own. In 2004, the industry's operating expense-to-average asset ratio fell two basis points to 3.21%, according to Callahan & Associates,...

  • Visa Offers New Fraud Protection Service

    SAN FRANCISCO - Visa USA has joined with eFunds to offer credit union card issuers another layer of fraud protection. The eFunds DDA Fraud Screen, provided by Visa only to its issuers, essentially allows Visa issuers to check Visa credit and debit card applications and change of address requests against...

  • Mutual Fund Board Names Meriwest CEO to Board

    SAN JOSE, Calif. - The Asset Management Fund has named Christopher Owen, president/CEO of $948 million Meriwest Credit Union, to its board of trustees. The Chicago-based Asset Management Fund (AMF) consists of six mutual fund portfolios marketed to credit unions, banks, thrifts, corporations, insurance companies, municipalities, pension plans, foundations, and...

News

News Briefs

  • Presumed Virginia Gubernatorial Candidates Voice Support for CUs

    RICHMOND, Va. - Credit union attendees at last week's Virginia Credit Union League Annual Meeting heard the presumed Democratic and Republic gubernatorial candidates express their support for credit unions' continued tax exemption. Lt. Gov. Tim Kaine and former Attorney General Jerry Kilgore, also told attendees they support ensuring parity between...

  • NCUA Hands Out Two More TIPs

    ALEXANDRIA, Va.-HealthNet Federal Credit Union and Georgia Power Federal Credit Union were granted TIP-trade, industry, or professional-single occupational common bonds by NCUA in March. HealthNet's new charter allows it to serve employees, independent contractors, or self-employed persons who work regularly in the health care industry in Shelby, Lauderdale, or Henderson...

  • CULAC's Large Contributions to GOP Nearly Double Dems

    WASHINGTON-The bulk of the largest contributions to congressional candidates coming from the Credit Union Legislative Action Council of CUNA in March went to Republicans, the controlling party in Congress. Nebraska Republican Jeff Fortenberry received $8,000 from CULAC in March. Several Republican lawmakers-including Senator Jon Kyl (Ariz.), House Majority Leader Tom...

  • CUNA Lays Stakes at Financial Literacy Day on the Hill

    WASHINGTON-CUNA manned its post on Capitol Hill last week with a booth during a Financial Literacy Day event. The April 27 event to promote financial literacy was sponsored by Representatives Judy Biggert (R-Ill.) and Ruben Hinojosa (D-Texas)-co-chairs of the Financial and Economic Literacy Caucus-Senator Daniel Akaka (D-Hawaii), the Jump$tart Coalition,...

  • New York League Calls First Time CUPAC Fundraising Dinner a Success

    LATHAM, N.Y. - The New York State Credit Union League says its first fundraising dinner to benefit its state political action committee "far surpassed expectations." The fundraising event was held April 11 at one of the state capital's top political hangouts, Jack's Oyster House. The League raised just over $7,200...

Tech Bytes

  • Instant Plastic Cards, Secure Messaging and More at USERS Meeting

    VALLEY FORGE, Pa. - Browser-based teller and lending solutions, do-it-yourself credit cards and secure messaging were among the topics at USERS Inc.'s Spring User Group Meeting at the Baltimore Marriott Waterfront. The April 21-22 meeting attracted several hundred attendees who got a look at the latest and what's coming up...

  • eCU Technologies to Offer Aggregation to Symitar Member Connect Clients

    HARRISBURG, Pa. - eCU Technologies, the technology CUSO of Pennsylvania State Employees CU, has partnered with Teknowledge to offer account aggregation. Aggregation will be available within Symitar's Member Connect online banking solution with single sign-on through Powerlink XML. eCU Technologies' aggregation solution does not use screen scraping to aggregate member...

  • Symitar Signs $1.7 Billion San Antonio FCU

    MONNETT, Mo. - Jack Henry & Associates has signed eight new credit union clients to the Episys system, the core product of its Symitar subsidiary, during its third fiscal quarter ending March 31, 2005. Among the signings was the $1.7 billion San Antonio FCU. According to Jack Henry, there are...

  • Fiserv Seeing Some Organic Growth

    BROOKFIELD, Wis. - Fiserv's stock (FISV on the NASDAQ) hit a 52-week high of over $42 last week after it announced record first quarter earnings. Fiserv, with seven credit union data processing subsidiaries, had revenues of $882.3 million in the first quarter, up 9% over 2004. More importantly for the...

  • Open Solutions Nets First Canadian Credit Union Conversion

    GLASTONBURY, Conn. - Open Solutions Inc. has won its first Canadian credit union system conversion to its credit union core processing product. Community Savings, based in Red Deer, Alberta, Canada, serves 110,000 members and has $1.8 billion (Canadian) in assets. Open Solutions entered the Canadian market about six months ago...

Marketing

  • Nexus Conference Generates $2,750 CMN Donation

    MADISON, Wis.- Members of the CUES Financial Suppliers Forum and attendees of the 2005 CUES Nexus Conference also took the time to raise money for the Children's Miracle Network Credit Unions for Kids. Through a silent auction held in the exhibit hall some $1,375 was raised. CUES then matched the...

  • EverythingCU.com Unveils Unique Branding Event

    HOLYOKE, Mass. - Wanting to help credit unions get a grip on their brand, EverythingCU.com is hosting the first-ever event held exclusively for credit union professionals focused solely on branding-titled Branding, Bonding, and Brew: A Total Brand Immersion Experience. Slated to be held in Portland, Oregon from September 21-23, 2005,...

  • The Golden 1 CU Names Marketing SVP

    SACRAMENTO, Calif. -The Golden 1 Credit Union has named Kevin Moon senior vice president of marketing. Moon will be responsible for directing all aspects of marketing, advertising, and public relations activities. "I am very pleased to have Kevin join our management team," said The Golden 1 CU President/CEO Teresa Halleck....

  • CUES Nexus Conference Highlights

    SAN DIEGO - For the first time, CUES has honored firms that dedicate themselves to their credit union customers. During the first ever CUES Nexus Conference here, a new award category was unveiled- Financial Suppliers Forum Suppliers of the Year. Companies honored with this first-ever award include Portland, Oregon-based The...

In Other News

  • DONATIONS

    CFE Federal Credit Union, Orlando, Fla., has donated $10,000 to Rock Lake Elementary School's Media Center. This contribution will be used to provide new books and supplies for the school's Media Center. Students and teachers expressed their gratitude by presenting CFE Federal Credit Union's President/CEO Joseph A. Melbourne, with a...

  • DONATIONS

    CFE Federal Credit Union, Orlando, Fla., has donated $10,000 to Rock Lake Elementary School's Media Center. This contribution will be used to provide new books and supplies for the school's Media Center. Students and teachers expressed their gratitude by presenting CFE Federal Credit Union's President/CEO Joseph A. Melbourne, with a...

Opinions

  • CUNA Taking Close Look at CUSO Financial Statement Audit Proposal

    Last month, the NCUA Board issued a proposal to revise its credit union service organization regulation applicable to a wholly-owned CUSO of a federal credit union The CUSO would not be required to obtain a separate financial statement audit from a certified public accountant as long as the CUSO's statement...

  • Now and in the Future: NACUSO is Here to Stay

    This year marks the 20th Anniversary of the founding of NACUSO. While we proudly acknowledge our past, we are keeping an eye on events that will shape the opportunities for credit unions and CUSOs to grow their membership and discover a new level of success. The CUSO business model most...

Letters to the editor

  • Member Calls Credit Union Times a Positive Force for Credit Unions

    Recently I had the opportunity to see an issue of Credit Union Times. As a long time credit union member, I just want to share some thoughts with you on your publication. I found the entire issue of Credit Union Times very reader friendly and interesting even to someone like...

  • "Bank" Vocabulary Question Proves Divisive

    WEST PALM BEACH, Fla. - Piggybacking on CUNA Chairman Dick Ensweiler's call for credit unions to find alternatives to the words "bank" and "banking" in their marketing vocabularies, Credit Union Times' current online poll question asks credit unions if this is a challenge worth taking on. As of press time...

  • "Bank" Not Necessary in Credit Union Marketing

    The debate about using "banking" words in credit union marketing is a no-brainer for our credit union. We have never used the word "bank" in any of our marketing vocabulary because we also feel it betrays the "credit union difference." We use the term "online account management" when we refer...

  • Let the Bankers in, Who Knows We Might Like Each Other

    A lot has been made about what credit union shared branch networks should do with credit unions that convert to banks. I say let them stay in the networks. Why shouldn't other types of financial institutions be allowed entry into shared branching networks? Let's think about this for a few...

  • CUs Can't Say Bank in North Dakota

    I enjoyed publisher Mike Welch's recent column regarding the use of the word bank by credit unions. Just a tidbit of information on the subject. The state of North Dakota has a statute on the books from the late `20s which will not allow any other institutions to use the...

  • Tanner: Tower Group Study Flawed

    In last month's Data Processing & Technology special report (CU Times, March 23), a new study of credit union core processing solutions by the TowerGroup was featured. I was pleased to see that our CUSO, Share One, Inc. was included. At least I was pleased until I saw how we...

Looking Back

  • Credit Union Times Vol. 14, No. 19 May, 7, 2003

    Looking back two years ago finds CUNA taking a seat at the Senate Small Business Committee roundtable. "There are still obstacles that thwart SBA and member business lending at credit unions," said CUNA representative Lafayette FCU Board Member Michael Hearne in a statement for the record. "There is a 12.25%...

Publisher's Column

  • Super League CUAW Quietly Bites the Dust

    Be forewarned. This is an I-told-you-so column. It is all about the rise and fall of the much-ballyhooed Credit Union Association of the West (CUAW), which is featured in a news story on page 1 of this issue. To refresh readers' memories, CUAW was the 2001 brainchild of the CEOs...

From the Board Room

  • U of C FCU Shakes Up Voting Process

    BOULDER, Colo. - U of C Federal Credit Union is taking the vote directly to members. From April 19-29 the credit union's six branches served as "voting booths" as members were encouraged to take part in the board elections. Information on the board candidates and voting materials could be found...

Special Report

  • New Branch for El Paso Employees FCU

    EL PASO, Texas -El Paso Employees Federal Credit Union has broken ground on its seventh branch in Northeast El Paso. Across from Cohen Stadium, the facility will offer an array of financial services, six drive-thru lanes, a 24/7 ATM and extended hours on Fridays and Saturdays. The new facility is...

  • Alaska USA Adds Financial Centers

    ANCHORAGE, Alaska - Alaska USA Federal Credit Union will build new Financial Centers in three Alaska communities. These include one in Anchorage to open this summer, one in Soldotna to open this fall, and one in Fairbanks to open in the summer of 2006. The Financial Centers are in addition...

  • DEI Welcomes New Staffers

    CINCINNATI - Design/build firm DEI Incorporated has recently hired three new employees. Thomas Montchai has been named design architect. He has over 25 years experience with an emphasis on entertainment, theme parks, financial and retail facilities. As an international designer, he has worked in China, Brazil, and Canada, as well...

  • New MidWest Financial Credit Union Student Branch Opens

    ANN ARBOR, Mich. - Thurston Elementary School has teamed up with MidWest Financial Credit Union to open a student-run credit union branch. Participation in the program, which is free to the school, is strictly voluntary and run by tellers, bookkeepers and service representatives from the fifth grade. "Student-run credit union...

  • Financial Partners CU Names VP of Branch Sales/Operations

    DOWNEY, Calif.-Financial Partners Credit Union has named Matthew Herrick vice president of branch sales and operations. In his new role, Herrick is responsible for driving the sales and service performance of Financial Partners' branch network. With a goal to cultivate a high-performing sales and service team, Herrick will analyze how...

  • DFCU Financial Opens Village Branch

    VAN BUREN TOWNSHIP, Mich. - DFCU Financial has opened a full service branch on the Visteon Village campus in Van Buren Township. Additional full-service branches are slated to open in Riverview and Commerce Township later this year. "We are very pleased to provide personalized financial services for Visteon employees in...

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