Credit Union Times Magazine April-12, 2006

News

Credit/Debit/ATM

  • Shared Branching Advertisement Wins Award

    HARRISBURG, Pa. - A television commercial designed to educate Pennsylvania credit union members and the public at large about the benefits of shared branching has won an award. The Telly Awards are meant to "honor outstanding local, regional, and cable television commercials and programs," according to The Creative Group, a...

  • CO-OP Network Staying With TRM After All

    ONTARIO, Calif. - As reported previously, CO-OP Network has decided to continue its relationship with TRM and to continue offering surcharge-free access to TRM's 5.500 Access Cash machines. Now the nation's largest credit union-owned surcharge-free network has inked the agreement that finalizes the deal. After an analysis in the wake...

  • Shula Addresses Credit Union 24 Meeting

    ORLANDO, Fla. - Famous football coach Don Shula, former head coach of the Miami Dolphins and Indianapolis Colts and now a successful restaurateur, addressed the attendees of Credit Union 24's Inaugural Executive Summit. The credit union-owned ATM and EFT network held the summit Mar. 23 at a Disney Grand Floridian...

  • Elan Picks Up Michigan CU Card Portfolio

    PONTIAC, Mich. - Jim Henmueller, CEO of the $97 million Chief Pontiac FCU is citing members' desires for more credit card rewards and lower rates as reasons for the CU to have sold its credit card portfolio to Elan Financial Services, a subsidiary of US Bancorp. "We realized that in...

Marketing

  • AAFCU Member Relations Specialist Makes Rising Stars Cut

    COLORADO SPRINGS, Colo. - Air Academy Federal Credit Union Member Relations Specialist Marlena Whitt has been singled out by the Colorado Springs Business Journal as one of Colorado Springs' Rising Stars. Whitt is one of 21 Colorado Springs business professionals under the age of 40 being recognized for their professional...

  • Unity One Federal Credit Union Rewards Perfect Attendance

    FORT WORTH, Texas - Unity One Federal Credit Union has shown eight lucky Fossil Ridge High School students that it literally pays to go to school-consistently. Students were awarded $50 each for having perfect attendance. Every nine-weeks, students with perfect attendance have their names entered into a drawing for the...

  • Kent CU Sponsors Broadway Event

    KENT, Ohio - Kent Credit Union is helping to bring a touch of Broadway to Theodore Roosevelt High School. Teaming up with the Rough Rider Association, which raises funds to purchase sports equipment for the high school, the credit union is sponsoring the national touring company performance of Late Nite...

  • Teen Arts Festival Gets Support from United Teletech Financial

    TINTON FALLS, N.J. - Teens here got a chance to showcase their creativity during the 2006 Monmouth County Teen Arts Festival thanks to sponsors United Teletech Financial Federal Credit Union and Gannett Co. In addition to sponsoring the event presented by the Monmouth County Arts Council, the credit union also...

Regulatory/Compliance

  • NCUA Alerts CUs to IT Security Compliance Guide

    ALEXANDRIA, Va.-NCUA issued a Letter to Credit Unions (06-CU-07) last week to offer credit unions help with their compliance regarding data security. Each section of the guidance refers to particular parts of the agency's rules and regulations; it includes information on safeguarding member information and response to unauthorized access. The...

  • Updated Deposit Insurance Materials Becoming Available

    ALEXANDRIA, Va.-As retirement account protection increased, NCUA issued a statement announcing that new signage would be available shortly. Federal deposit insurance retirement account coverage increased on April 1 to $250,000 and other coverage will potentially be increasing five years from now due to the new deposit insurance reform law. Though...

  • NCUA Closes St. Charles Borromeo Church FCU After Operations Abandoned; Checks Issued

    ALEXANDRIA, Va.-NCUA has closed the doors of another tiny credit union and is in the process of issuing checks to accountholders. On April 4, NCUA liquidated $130,000 St. Charles Borromeo Church Federal Credit Union of New York City. The credit union had been serving 200 members of the church since...

  • Hood: Increasing Underserved Homeownership is a Top Priority

    DES MOINES, Iowa-During remarks at the Iowa Credit Union Foundation Summit, NCUA Vice Chairman Rodney Hood laid out the importance of homeownership, particularly among the underserved, for wealth building. "Owning a home is the foundation of wealth for low-income families and is their quickest path to self-sufficiency," Hood said. Serving...

  • Financial Regulators Announce Updated HMDA Price Data FAQ

    WASHINGTON-The federal financial regulators and the Department of Housing and Urban Development last week issued updated answers to the frequently asked questions on Home Mortgage Disclosure Act price data. HMDA data will include pricing information for the second year in a row for loans above reporting thresholds set by the...

  • Eight Barred from Credit Union Operations

    ALEXANDRIA, Va.-NCUA has issued prohibition orders against eight individuals, banning them from further involvement in the operations of federally insured financial institutions. *Lisa Ann Bramble, former bookkeeper of Sierra Central Credit Union, Yuba City, Calif., pleaded guilty to embezzlement and was sentenced to 27 months imprisonment followed by five years...

  • NCUA Liquidates FCU for Insolvency

    ALEXANDRIA, Va.-St. John Baptist Federal Credit Union member accounts were transferred after NCUA liquidated the credit union late last month. United Financial Services Federal Credit Union will take over accounts from $68,000 St. John Baptist Credit Union after NCUA liquidated the credit union for insolvency. NCUA worked with $21 million...

  • Feds Work Toward Simpler Privacy Notices

    WASHINGTON-NCUA, in conjunction with the other federal financial regulators, shared findings recently from a report on how to make privacy notices more understandable for consumers. Evolution of a Prototype Financial Privacy Notice summarizes a year's worth of consumer research to improve financial privacy notices. The report, conducted by Kleimann Communication...

News Briefs

Tech Bytes

  • American Heritage FCU Commits to APPRO Platform

    PHILADELPHIA - American Heritage Federal Credit Union says it will deploy automated-decisioning software from APPRO for its consumer lending business. The $513 million CU will use the LoanCenter Consumer platform from APPRO to streamline its processes, the CU says. "APPRO LoanCenter Consumer was easily integrated with our Symitar core system...

  • Two Maine CUs Ink New 10-Year Agreement with Synergent

    WESTBROOK, Me. - Great Falls Regional FCU, Lewiston, and Portland ME Police Department FCU have each signed 10-year agreements to use Synergent for data processing services. In 2004, Synergent, a subsidiary of the Maine Credit Union League, began implementation of the new Episys platform for Technology Services and so far...

  • The Big Time: Fiserv Makes Fortune 500 List for 2006

    BROOKFIELD, Wis. - Fiserv Inc. has made the big leagues. The heavyweight of IT processing for credit unions can now say it's a Fortune 500 company. Based on its $4.1 billion in total revenue for the past year, the provider of financial and health benefits technology is now 488th on...

Letters to the editor

Opinions

Publisher's Column

  • Consolidation Is Picking Up Steam

    Everyone talks about it: The credit union industry is consolidating on all fronts. If you stop and take a careful look around, you find consolidation is happening at breakneck speed - maybe faster than most of us realize. Corporate credit unions sometimes get lost in the shuffle, but the corporate...

Staking Out the Stats

  • Staking Out the Stats

    WASHINGTON - Just in time for financial literacy month a Jump$tart Coalition for Personal Financial Literacy survey reveals that the financial IQ of high school students has stayed steady. The survey of 5,775 high school students in 37 states measured 12th graders' level of knowledge of personal finance basics and...

People

  • MIDWEST

    Kemba Credit Union, Indianapolis, named Zach Miller, sales and marketing manager. Five individuals have been elected by credit unions in their respective areas to represent them on the board of directors for The Wisconsin Credit Union League, Pewaukee, Wis. They are newly elected Rob Kublank and Kevin Hauser, and re-elected...

  • EAST

    St. Mary's Bank, Manchester, N.H., has promoted Kerri Sarette to branch manager of the CU's newest branch in Milford. HarborOne Credit Union, Brockton, Mass., has promoted John Goodwin to business development officer, indirect lending.

  • VENDOR

    Alaska USA Mortgage Company, Anchorage, Alaska, hired Jean Brown as senior mortgage loan originator. Ceto and Associates, a national consulting firm providing revenue enhancement solutions for the financial industry, has named Steven Do and Pritesh Patel financial consultants. CU Business Group, LLC, Portland, Ore., announced that Daniel Hutchison has joined...

  • WEST

    Mountain America Credit Union, West Jordan, Utah, has promoted Suzanne Oliver to senior vice president of educational services; Marshall Paepke to senior vice president of human resources; Tony Rasmussen to senior vice president of electronic services; Michael Turner to senior vice president of commercial lending; and Annette Zimmerman to senior...

  • SOUTH

    Charlotte French and Bill McLemore were re-elected to serve three-year terms on the TruService Community Federal Credit Union board, Little Rock, Ark.

  • SOUTHWEST

    U.S. New Mexico Federal Credit Union, Albuquerque, N.M., promoted Marsha Majors to vice president of branch administration.

Billlionaires Club

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