Credit Union Times Magazine August-09, 2006
In Other News
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DONATIONS
Southern Select Community Credit Union, Kannapolis, N.C., recently awarded Brittany Troutman its 2006 scholarship. The CU's President/CEO Huyla Jackson presented Troutman with the scholarship, which she will use to attend Raliegh's Meredit College in the fall. Troutman, carrying a 4.0 GPA, plans to continue her study of dance and is...
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DONATIONS
Great American Credit Union, San Diego, raised over $3,286 during the Credit Union for Kids "Miracle Month of May" by holding bake sales, "White Elephant" auctions and cooking hot dogs for members during lunch.
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DONATIONS
Founders Federal Credit Union, Lancaster, S.C., recently honored the recipients of its 2006 Laura M. Fleming Scholarships. Four recipients were chosen from over 60 applicants. The winners are David Pinkham, Brittany Murphy, Ja'Pel Sumpter and Jill Wessinger. Each recipient received $1,000 per year to attend the college or university of...
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DONATIONS
Kent Credit Union, Kent, Ohio, has awarded two $500 scholarships to local students in conjunction with the recent grand opening celebration of its newest office in Streetsboro. The winners were Chanice Jones and Sarah Spinelli. Chosen by a Scholarship Committee comprised of credit union board members, the winners were selected...
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DONATIONS
HAR-CO Maryland Federal Credit Union, Bel Air, Md., awarded one scholarship to a student at each high school in the county. In addition, two special scholarships are presented, one in memory of HAR-CO board member and county teacher Edward V. Goetz, to a student who plans to take up environmental...
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DONATIONS
GenFed Federal Credit Union, Akron, Ohio, awarded $1,000 to three GenFed members as part of its scholarship program. Two of the winners won the Carroll Prather Young Scholarship, which was established in 1998, and honors William Prather, Homer Carroll and Jack Young, three men who contributed to the success of...
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DONATIONS
Ohio University Credit Union, Athens, Ohio, was again the signature sponsor for Bowl for Kids' Sake, the major fundraising event for Big Brothers and Big Sisters of Athens County. OUCU was the top money-raising community organization with the 11 teams of credit union employees bowling and raising $3,550. The OUCU...
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DONATIONS
The Golden 1 Credit Union, Sacramento, Calif., was recognized for its work with the Children's Miracle Network by a surprise visit by the Hershey's Kissmobile. The Kissmobile Cruiser, a 25-foot long, 12-foot tall converted truck displaying three large Hershey's Kisses, travels across North American with the message that "every kid...
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DONATIONS
South Texas Federal Credit Union, McAllen, Texas, recently awarded five $1,000 scholarships towards continuing education. The scholarship recipients were: Kassandra Sanchez, Robert Cantu, Elizabeth Valdez, Stacy Lee Prukop and Jaime Saenz.
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DONATIONS
GHS Federal Credit Union, Binghamton, N.Y., has awarded a $500 scholarship to Nicholas VanKuren, who will attend Cornell University in the fall. Scholarship applications were submitted to the New York State Credit Union League for consideration at the state, chapter and local levels.
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DONATIONS
Wanigas Federal Credit Union, Saginaw, Mich., participated in the 2006 Saginaw Township Relay for Life sponsored by the American Cancer Society. The event raises money to help find a cure for many forms of cancer and honors cancer survivors, caregivers and cancer victims. The Wanigas FCU team sold candy bars,...
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DONATIONS
Sharon Credit Union, Mansfield, Mass., recently awarded $1,000 to Thomas Bregnard, the 2006 Mansfield recipient of the Sharon Credit Union annual scholarship award. Awards are given to graduating seniors from Mansfield, Sharon and Walpole high schools who have demonstrated outstanding achievement in both academics and community service. Bregnard will be...
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DONATIONS
SELCO Community Credit Union, Eugene, Ore., has named 16 scholarship recipients for 2006. The Oregon high school seniors were awarded $1,500 each for their combination of scholastic achievement and community involvement. Qualifying students were required to have a minimum GPA of 3.5, submit an essay and letters of recommendation, and...
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DONATIONS
Georgetown Kraft Credit Union, Georgetown, S.C., recently recognized the recipients of the 2006 Georgetown Kraft Credit Union College Scholarships. Each recipient was awarded $1,000 that can be used towards tuition, books or room and board at any two- or four-year college. The recipients for the 2006 GKCU College Scholarships are:...
News
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AACUC Members Tapped to Key Volunteer Roles
two board members and one member of the African-American Credit Union Coalition were recently tapped to serve at several industry organizations. Eunice Johnson Rogers is the new chairman of the board for the National Federation of Community Development Credit Unions. Rogers is co-founder and CEO/treasurer of the NRS Community Development...
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Marketing Through Values--Two Case Studies
Psychographics sounds like a movie about an artist gone mad, but it is another way to reach target audiences that goes beyond traditional demographics. Psychographics finds common interests of members and designs products and services that touch those interests giving emotional value to the purchasing decisions.
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Unity One FCU Fights ID Theft With LifeLock
Unity One Federal Credit Union is taking a proactive approach to arming its members in the fight against identity theft with the LifeLock program.
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Mary Robinson Says CUs Part of Human Rights Fight
When Mary Robinson's past and present positions are read off, a listener might think that the speaker is talking about several people. Robinson is the former Irish president and former UN High Commission of Human Rights, one of Time Magazine's 100 Heroes & Icons, founder of Trinity's College Irish Centre...
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Redstone FCU: First in Alabama to Offer SBA Community Express Loan
Redstone Federal Credit Union has garnered another business lending first.
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Automatic Loan Processing Cuts Costs
Technology can reduce the cost of loans and increase member service, according to a presentation by Myrna Bentley, CEO and president of Concentra Financial, Saskatoon, SK, Canada.
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SELCO Debuts New Payday Loan Outlet; Serendipitous Timing With Governor's Announcement
Bent on reaching out to young and "less affluent" borrowers with payday alternatives, SELCO Community Credit Union has opened a separate branch-type facility in nearby Springfield to draw new members while soliciting the nontraditional loans.
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Reeves Named to WOCCU Board
Penny Reeves of St. Albert, Alberta was named to the WOCCU Board during its 2006 Conference in Dublin.
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USA FCU Lends Support to The Challenge Center
USA Federal Credit Union is doing its part to support The Challenge Center in its mission to heal those with serious disabilities. The Center provides hundreds of members skilled physical therapy, unique computerized therapy devices, and specialized fitness programs.
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Credit Unions are Hume's Greatest Accomplishment
When John Hume, winner of the Nobel Peace Price, the Ghandi Peace Price and the Martin Luther King award, was asked what he was most proud of during a BBC interview, he replied helping start the Irish credit union movement. Hume founded the first Northern Ireland credit union in Derry...
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Washington Supreme Court Sides with Credit Unions, Allows them to Continue Offering Interest on Lawyer's Trust Accounts
In a pivotal move for Washington's credit unions, the Washington State Supreme Court recently ruled that they can remain on a list of financial institutions where attorneys house interest on lawyer's trust accounts or IOLTAs.
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Filene i3, Credit Union Times Survey Reveals CUs Ready for National Referral Network
The Filene i3 innovative team is at it again, trying to find new ways to encourage credit union membership.
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Reporter's Notebook: Everyone in Ireland has a CU Story
Never have I met so many people who want to talk about their credit union. I am not talking about the attendees at the World Council of Credit Unions' 2006 World Credit Union Conference in Dublin Ireland July 27-30th. The only thing a person has to say is to mention...
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FICU Reserve Info as of March 2006:
o7,123 fall into the 0% reserve requirement o1,162 fall into the 3% reserve requirement (reserves = $744,238,915) o332 fall into the $1,215,000 + 10% reserve requirement (reserves = $4,019,913,391) o8,617 total FICUs with $4,764,152,306 in reserve oAt 5.25% (Fed funds rate), the annual interest would be $250,117,996.
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Governor Boosts CUs in Anti-Payday Lending Campaign
After more than two years of plugging payday loan alternatives, Oregon credit unions found themselves in the limelight recently as the state's Democratic governor set up new vehicles to guide consumers to CUs for the products.
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New Site Ranks Top CD Rates at Credit Unions, Offers Other Savings Resources to Park Cash
With the tagline "no bull information on the best safe returns for your cash," a new Web site has included credit unions among its ranking for the nation's top savings rates. Launched in 2005, BestCashCow.com provides rates on savings accounts and other cash equivalent accounts such as certificate of deposits,...
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CUNA Marketing and Business Development Council Releases New White Papers
The CUNA Marketing and Business Development Council has released three new white papers that delve into successful name changes, credit union mergers, and marketing salaries and benefits.
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Senate Rejects Bulk of House Reg Relief Proffer; Senate Bill Gives CUs Parity
Prior to the House adjourning for the August recess July 29, the Senate agreed to just one of the provisions in the financial services regulatory relief proffer sent over by the House. The House proffer included a number of provisions requested to be inserted into the Senate bill that contains...
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Fortney, Little Represent NASCUS at WOCCU Regulators Roundtable
NASCUS President/CEO Mary Martha Fortney and former NASCUS Chairman Roger Little, deputy commissioner of the Michigan Credit Union Division, joined regulators from 17 countries as well as representatives from NCUA and CUNA at the World Council of Credit Unions Regulators Roundtable that was held during the WOCCU 2006 World CU...
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Missouri League Seeks REAL Solutions for Underserved Households
Those from low-income households need access to viable financial products as services just as much as other households and the Missouri Credit Union Association is stepping up to provide that accessibility.
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Special Report: Corporates
The corporate credit union special report offers an up-to-date directory of the corporate network and more on pages 22-27.
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Data Security Legislation Caught Up in Politics
Neither the House Financial Services Committee nor the Energy & Commerce Committee were willing to budge on their differing versions of data security legislation so the notion is likely dead for the year. Despite hard-core lobbying from the financial services sector in favor of the Financial Services bill, the Financial...
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New Name For Coast to Coast CU
Coast to Coast Credit Union is getting in on the name change game.
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PULSE EFT Association Celebrates 25 Years
The PULSE EFT Association, a longtime leader in the ATM and EFT worlds that eventually became a subsidiary of the Discover Card brand, is 25 years old this month.
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Welcome NASCUS Attendees
NASCUS conference attendees will find NASCUS related coverage on pages 8 and 17.
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Ceto & Associates Signs on 1,000th Client
The second quarter marked several milestones for Ceto and Associates, a consulting firm that provides revenue enhancement solutions for the financial industry. The firm said it signed on its 1,000th client and provided solutions to 76 new financial institutions, which increased revenue by 16% when compared to first and second...
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Goldenwest CU Helps Raise Over $35,000 for Local Schools
The Goldenwest Credit Union Annual 5K Run-Walk-Crawl has resulted in an over $35,000 donation to seven local schools.
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Ninety-Two-Year-Old Man Recognized For CU Service
Cyril Mann of Sterling, Alabama was recognized as not only the oldest man at the WOCCU conference in Dublin Ireland, but as a contributor to the development of the American credit union movement.
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New NAFCU Chair Shakes Up Committees, Two Chairmanships Go to Volunteers
NAFCU's committees will not be entirely chaired by NAFCU Board members for the first time in the organization's history.
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CUNA Applauds House Saver's Credit Passage
Hours before the adjournment for the August recess, the House passed several key provisions of interest to credit unions.
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NAFCU Lobbyist Exits for Sprint/Nextel
NAFCU Director of Political Affairs Murray Chanow is leaving the trade association.
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Court of Appeals Decision Forces Columbia to Postpone Annual Meeting
The $700 million Columbia Community Credit Union, has postponed its annual meeting and election to consider the impact of a recent Court of Appeals ruling on that election.
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CULAC Putting Big Money on the Line with Lieberman, Crank 'Independent Expenditures'
The Credit Union Legislative Action Council of CUNA has already spent hundreds of thousands of dollars on credit union friends in trouble this primary election season.
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DFCU to Allow Members to See Records, Just Not to Talk About Them
At long last the $1.8 billion DFCU Financial FCU has announced it will allow members to examine documents pertaining to its failed bid to become a mutual bank. But any members who do so will have to sign an agreement that they will not talk about what they have seen...
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Movement or Industry--the World Weighs In
The debate whether credit unions make up a movement or an industry was taken to Dublin during the World Council of Credit Unions' 2006 World CU Conference.
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A Snapshot in Time, July 28: Corporate CU Investment Rates
If your credit union was out shopping rates on July 28 it could have found some of the best rates at what some may consider an unlikely place--Louisiana Corporate.
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NASCUS to Testify on CU Chartering Policy At NCSL Annual Meeting
NASCUS has been asked to testify this month on the subject of credit union chartering policy at the meeting of the Financial Services Committee during the annual meeting of the National Conference of State Legislatures. The annual meeting is being held Aug. 16-18 in Nashville, and the meeting of the...
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Differing Charter Conversion Language in State Credit Union Acts Make Conversion Route More Indirect than Others
Credit union conversions to noncredit union, mutual charters continue to make headlines, but interestingly less than half of the conversions over the last 11 years have involved state-chartered credit unions. But how complicated would it be if a state-chartered credit union wanted to convert to another type of financial? According...
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CUNA Mutual Breaks Ground on Customer Operations Center
On Aug. 1, CUNA Mutual Group has broken ground on its new Customer Operations Center.
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Mutual Savings CU Offers Rare 7% CDs
To celebrate its 70th anniversary, Mutual Savings Credit Union offered its members two 7% certificate of deposit specials. From July 17 through July 25, members of the $157 million credit union were offered a 7% CD with a seven month term and another 7% CD for 12 months. With the...
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By Contrast, as of December 2004:
o7,356 fall into the 0% reserve requirement o1,315 fall into the 3% reserve requirement (reserves = $419,024,606) o343 fall into the $1,164,000 + 10% reserve requirement (reserves = $3,002,637,805) o9,014 total FICUs with $3,421,662,410 in reserve oAt 2.75% (Fed funds rate), the annual interest would be $94,095,716.
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Un-Sterilizing' Fed Reg D Reserves Could Mean Big Bucks for Credit Unions
or so-called sterile--reserves that credit unions and others hold at the Fed could mean capturing a lot of previously missed opportunity income. The Financial Services Regulatory Relief Acts (H.R. 3505 and S. 2856) would grant the Fed this authority. The original purpose of the reserves, NAFCU Chief Economist Tun Wai...
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Maine Family FCU Summer Campaign Pushes it a Step Ahead of Competition
When it comes to sharing the credit union difference, Maine Family Federal Credit Union's summer marketing campaign has proven to be a step in the right direction.
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Co-operatives an Alternative to Out-of-Control Capitalism
Iain MacDonald's main job as director-general of the International Co-operative Association (ICA) based in Geneva, Switzerland, is to clarify the differences between co-operatives and business. He complained that the sector is mainly ignored by the media.
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'Never Again,' Says Mica
Dan Mica, CUNA's president and CEO, paced the stage with almost missionary zeal at the WOCCU 2006 World CU Conference as he talked about the importance of politics for credit unions.
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Crear: Credit Unions are Making a Difference Worldwide
After a year on the job, World Council of Credit Union President Pete Crear feels he's "getting the hang" of the job as he told the 1,850 attendees at the opening general session of WOCCU's 2006 World CU Conference.
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Are Nationwide FCU Members Being Offered Enough for Their CU? Will Merger Open the Door to More CU Sales?
Are the roughly 44,000 members of the $586 million Nationwide FCU being offered enough money for their credit union?
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A Credit Union Visit Shows Irish Hospitality
Credit union visits are a regular feature of any WOCCU conference. It allows people from one country to see how credit unions operate in another country. Premises are looked at, computer systems discussed and refreshments are usually served, pleasant, informative, but somewhat cut and dried.
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Card Debt Highest Ever, Survey Finds
A new survey sponsored by the Center For American Progress, a think tank associated with Senator Hillary Clinton and the centrist wing of the Democratic Party, has sponsored a survey, which found U.S. households have their highest levels of credit card debt ever.
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Milosevich to Retire In '07
SELCO Community CU President/CEO Ava Milosevich will retire on Feb. 1, 2007. Milosevich has led the credit union for the last 16 years. While she is retiring from full-time work, she plans on being an active consultant. Under Milosevich, the CU has grown from $120 million to $668 million in...
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The Changing Face of the Corporate Network
With mergers galore and some high-profile CEO changes, today's corporate network looks much different than from just a few years ago.
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Nevada CUs Say they Are Less 'Upset' About Newspaper Banker Attacks
Another round of print banker attacks loom next month for Nevada credit unions, but this time around the industry is prepared and "we will be less upset" having gained new confidence, according to the chairman of the Nevada Credit Union League.
Front Page News
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WOCCU's 2006 World Credit Union Conference Attracts Record Crowd
Credit unions in the United States have hundreds of credit union conferences to choose from each year. And while they're all different, only one has global appeal--the World Council of Credit Unions' Annual World CU Conference.
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In the Corporate Network, Overnight Accounts are Not Created Equal
In this age of national field of memberships and corporates marketing across state lines, credit unions have more corporate credit union relationships than ever before.
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Wescom, CUNA Mutual Leave ILC Deals Behind; Union Financial Says it will Continue
Even though their credit union supporters maintained it was a good idea until the end, the notion of buying or chartering an industrial loan corporation to purchase credit union credit card portfolios proved to be just too controversial. Last week, both the $3.4 billion Wescom Credit Union and CUNA Mutual...
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Washington State Eyes Private Deposit Insurance
The regulator in Washington State, at the behest of a handful of credit unions and the state league, has begun the process to study private primary deposit insurance for credit unions and its applicability within state law.
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Hoel Passes Torch at Filene after 15-Year Run
After 15 years heading the Filene Research Institute, Bob Hoel, its venerable executive director, said he will step down.
News Briefs
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Utah CUs Poised Again to Seek Business Lending Expansion Next Year
When Utah legislators meet next year, Utah credit unions will be ready to present their case again for allowing more flexibility in offering members business loans.
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Bacino is on the Job
Former NCUA Board Member Geoff Bacino started work as a member of the Federal Housing Finance Board July 28.
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Members of Two CU Branches Vote to Move
COLUMBIA, S.C. - In an unusual move last week, members of the $344 million Heritage Trust FCU, who have joined the CU through its Columbia, South Carolina branches, voted to determine whether their branches remains with Heritage or transfer to the $1.2 billion South Carolina FCU.
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Schenck Resigns from Pa. Banking Secretary Post
Pennsylvania Banking Secretary A. William Schenck has tendered his resignation from that post effective Aug. 15.
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Congressional Caucus Speakers' List Grows
NAFCU has slated three more speakers to address its Congressional Caucus scheduled to take place at the Washington Grand Hyatt Sept. 17-20.
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Proposed Missouri Regs Open for Comment
Credit unions in Missouri have until Aug. 16 to comment on four proposed regulations published by the Missouri Division of Credit Unions concerning mergers and consolidations, geographic credit union expansions, definition of immediate family, and definition of underserved and low-income.
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GAO Accepts Sanders' Challenge on Bank Study
The Government Accountability Office has agreed to perform the study requested by Congressman Bernie Sanders (I-Vt.) seeking an account of federal government aid to banks and their tax-avoidance measures.
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Blankenberger Named NCUA Region IV ARDP
After serving as NCUA's Region I associate regional director of operations, Larry Blankenberger is shifting over to the Region IV associate director of programs. Blankenberger worked out of NCUA's Albany office in Region I since 2001 before his move to Austin, according to NCUA's newsletter. He started at NCUA as...
Marketing
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Hanscom Federal Credit Union Goes Grilling to Say Thanks
Hanscom Federal Credit Union is fired up about its members' loyalty. To show members how much they appreciate their support over the years the credit union hosted a lunchtime barbeque. Here HFCU Collections Manger Tom Boodry and Vice President of Lending Jim Metcalf grill hot dogs to members' specifications.
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Members First Credit Union Hosts First E-Recycling
Members First Credit Union is showing its dedication to "green" by hosting its first annual E-Recycling week. The credit union has partnered with Ohio Computer Recycling of Columbus for the event. MFCU members and residents of the community are encouraged to bring items such as personal computers, business computers, cell...
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HAR-CO Maryland FCU Honored by MDDCCUA
HAR-CO Maryland Federal Credit Union has been recognized for excellence in two categories recently by the Maryland & District of Columbia Credit Union Association. HAR-CO won a Trailblazer Award for Best Annual Report for its 50th Anniversary Annual Report, which celebrated a half-century of service. HAR-CO also was the sole...
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Velocity Credit Union Supports Local Music
Velocity Credit Union is taking center stage in supporting Austin's reputation as "Live Music Capital of the World." This year Velocity served as presenting sponsor of the legendary KGSR's Unplugged at the Grove, one of Austin's most eagerly anticipated annual musical traditions. Now in its 13th year, Unplugged at the...
Regulatory/Compliance
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FTC Hikes Do Not Call Fees
The Federal Trade Commission issued a final rule at the end of last month increasing the annual fee for access to the Do Not Call Registry.
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Tiny Philadelphia FCU Placed into Conservatorship
Last week, NCUA determined it necessary to place Mt. Hebron Baptist Federal Credit Union into conservatorship to bring it back to a safe and sound operating status.
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FFIEC Agencies Modernize Information Security Booklet
NCUA and the other Federal Financial Institutions Examination Council regulators have distributed revised guidance for examiners and financial institutions for identifying security risks, evaluating controls, and applicable risk management practices.
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Hyland and Kohn Participate in CU Lawyer Podcast
NCUA Board Member Gigi Hyland and Senior Policy Advisor Gary Kohn participated in the fourth episode of a free credit union issues podcast hosted by a conglomerate of credit union lawyers.
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Amended Junk Fax Rules Effective Aug. 1
The Federal Communications Commission amended its "junk fax" rules to codify the exemption of those with established business relationships effective Aug. 1.
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OCC Names Stearns Director for Enforcement and Compliance
Richard C. Stearns has been named the new director of enforcement and compliance at the Office of the Comptroller of the Currency.
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NCUA Releases Joint Updated BSA/AML Exam Manual
The Federal Financial Institutions Examination Council, which includes NCUA, recently released a revised version of the Bank Secrecy Act/Anti-Money Laundering Examination Manual.
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NCUA Participates in 'Taking Ownership of the Future' Initiative
NCUA participated today in a "Conversation about Taking Ownership of the Future" as part of its role on President George W. Bush's Financial Literacy Education Commission.
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Szubin Named New OFAC Director
Newly installed Treasury Secretary Henry Paulson announced last week that Adam Szubin will serve as the next director of Treasury's Office of Foreign Assets Control.
Tech Bytes
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Suncoast Schools Taps RSA Security for Online Security Tools
Suncoast Schools Federal Credit Union will spend the next six months rolling out new authentication security tools to the 401,000-member CU's online members.
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Corillian, Online Resources Partner in Post-Princeton eCom Purchase Deal
Following up on Online Resources Corp.'s purchase of payments processor Princeton eCom, Corillian Corp. says it is expanding its relationship with the Virginia-based e-commerce provider.
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TraceSecurity and CUNA Partner on Multi-Factor Authentication
A server-based, multi-factor authentication solution that exceeds the Federal Financial Institutions Examination Council's authentication guidelines will be offered to credit unions through an addition to the strategic alliance between CUNA and TraceSecurity. TraceAuthenticate enables credit unions to provide members two-factor authentication. The product also helps credit unions to comply with...
Special Report
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Georgia Telco CU Builds More Convenience in Gwinnett
Norcross Acting Mayor Pro Tem, Charlie Riehm, and representatives of the Gwinnett Chamber of Commerce joined officials from Georgia Telco Credit Union for a groundbreaking ceremony to celebrate what will soon become the $1 billion credit union's new Peachtree Industrial Branch and Service Center.
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SC Telco FCU Branches Out
SC Telco Federal Credit Union has opened the doors to its latest branch here. Attending the ribbon-cutting event were Spartanburg Mayor William Barnet III and leaders of credit unions around the state.
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HBE Names New Marketing/Advertising VP
With the hopes of boosting its brand image, design-build firm HBE Corporation has named Jay Moore its new vice president of marketing and advertising.
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Pacific Service CU Heads to Vacaville
Pacific Service Credit Union has recently celebrated the grand opening of its new Vacaville branch.
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PWCampbell to Design CU Branches
Design/build firm PWCampbell has recently been tapped by two credit unions for branching projects.
Briefs
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First Carolina Donates Time and Money to Second Harvest
Helping to meet the need for food assistance that increases during the summer months, the staff at First Carolina Corporate Credit Union has donated $1,000 to Second Harvest Food Bank of Northwest North Carolina, a nonprofit organization working to reduce hunger and malnutrition in communities located in northwest N.C.
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FirstCorp Elects New Volunteers
At the First Corporate Credit Union Annual Meeting recently, Robert D. Ramirez and incumbent Gloria Mundy were elected for three-year terms to the corporate's board. The 2006-2007 directors are as follows: Rita Albertson of SRP CU, chair; Gloria Mundy of Bashas' Associates FCU, vice-chair; Randy Baldwin of Tucson Old Pueblo...
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Constitution Corporate CUSO Launches New Site for City of Boston CU
SmartSource Solutions, LLC, a CUSO of Constitution Corporate Federal Credit Union, has launched a new Web site for City of Boston Credit Union (www.cityofbostoncu.org).
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Corporate One Chooses LogicManager for Enterprise Risk Management
LogicManager, a Boston-based provider of enterprise risk management software, announced recently that Corporate One Federal Credit Union, has chosen its LogicERM product to automate the CU's Enterprise Risk Management.
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Ten Corporates Team Up for 'Dare To Compete'
With other financial institutions vying for the affections of members, 10 corporates teamed up to encourage CUs to compete.
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Northwest Corporate Adopts Fed Forward For Image Exchange
Northwest Corporate Federal Credit Union has joined forces with the Federal Reserve Bank to electronically exchange images for credit unions.
Opinions
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Use It Or Lose It
I was watching the women's Wimbledon tennis finals last month and, not really being more than just a recreational player myself, I was struck by what a simple game it actually is. You serve the ball, stay back and volley until an opening is created, and then pounce, usually with...
Letters to the editor
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Collaboration Has Its Benefits
hits on something many of us in the credit union community know first-hand: Throughout our history, credit unions have experienced success through collaborative efforts. Consider the value that credit unions gain from the corporate credit union network, Payment Systems for Credit Unions, and CO-OP Financial Services. As a movement, we...
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Gentile Nailed it; Small CUs Must Consider Their Future Now
I just had to comment on Paul Gentile's July 12 column on large and small credit unions, and the future of them both. As the former CEO/manager of a small credit union, I was interested in knowing just how the statistics illustrated our plight. Gentile did an outstanding job in...
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Tradition Redux
"A fiddler on the roof. Sounds crazy, no?...You may ask...'How do we keep our balance?' That I can tell you in one word: tradition!"
Looking Back
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CREDIT UNION TIMES July 9, 2000
Looking back six years ago finds the American Bankers Association opening a new front in an old war with a new initiative to repeal the credit union federal tax-exemption and restrict CU membership privileges.
Opinion
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NASCUS State Data Collection Project Important to Dual Chartering System
The credit union system entered into a new era following the House Ways and Means Committee hearing in the fall 2005 on the credit union tax-exemption. Following the hearing, the committee requested data about whether credit unions are serving the goals intended with their federal tax-exempt status. The data currently...
Publisher's Column
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Conversions, Cards, and White Hats (Damn Good PR)
There are three dominating topics in credit union land right now and I want to tackle them all right here based on recent news events.
People
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SOUTH
Army Aviation Center Federal Credit Union, Daleville, Ala., has re-elected Donald J. Marnon to his ninth term as chairman of the board of directors. MACO Educators Federal Credit Union, Woodstock, Ga., promoted Teri Correll to vice president of lending.
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WEST
Denver Media Credit Union, Denver, has announced that its President/CEO L. Bartell Nyberg is retiring. Nyberg has been president/CEO since 1990 and prior to assuming that position, served on the CU's board for 10 years. Travis Credit Union, Vacaville, Calif., has appointed Richard Roark to vice president of process improvement...
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VENDOR
John M. Gibbons is returning to Securian Financial Group, Inc., St. Paul, Minn., as national sales consultant for the financial institution market. MRG Document Technologies, a Dallas-based provider of document preparation services for the financial industry, has promoted Darci Johnson to director of marketing and sales support.
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SOUTHWEST
Arizona Federal Credit Union, Phoenix, has named Brandon C. White branch manager and Rae-Ann Peavy assistant branch manger to oversee its two Tucson locations. DM Federal Credit Union, Tucson, Ariz., has elected Gloria Gonzalez to fill a vacant position on its board of directors.
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MIDWEST
Centra Credit Union, Scottsburg, Ind., has named Tyfiani Chandler branch manager of its Scottsburg Wal-Mart location. KEMBA Financial Credit Union, Columbus, Ohio, has promoted Philip Day to the newly created position of compliance officer.
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EAST
Affinity Federal Credit Union, Basking Ridge, N.J., has appointed Donna Watson-Moody as assistant vice president, training and development. Service Credit Union, Portsmouth, N.H., has named Joseph Casale manager of the special accounts department; Karen Baillargeon member service representative I; Peter Cronshaw courier; and Lisa Tower and Gail Davis real estate...
Billlionaires Club
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Helping Members a Story 'Repeated Over and Over Again'
As far as president/CEO Randy Smith is concerned, one of the positive things about coming to work at Randolph Brooks Federal Credit Union is the ability to make a difference in the lives of members.
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Sidebar
245,000 Primary sponsor and SEGs -- Military and
In Memoriam
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California League's Purcell Killed in Accident
Kelly Purcell, director of federal government affairs for the California and Nevada Credit Union Leagues, died on Aug. 1 of injuries she sustained when she was struck by a car while bicycling near her home in Chino, Calif.
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