DONATIONS Employees of Peninsula Credit Union, Escanaba, Mich., recently ventured to the local Dairy Queen to support Children's Hospital while enjoying a Blizzard at the same time. All proceeds of Blizzards sold that day at multiple Dairy Queen locations went directly to Children's Hospital in Seattle. San Diego Metropolitan Credit...
The Government Accountability Office's study on NCUA's independence as a regulator has not garnered the attention of the one on credit union service to those of modest means, but it too has a story to tell.
Special Report: Corporates Corporates back off on risk-based capital. Read about that and more in the special report on pages 22-24. Corillian Cometh Online financial services provider Corillian is coming after credit unions. Page 10.
After seven years in the No. 2 spot, NAFCU Executive Vice President Diane Swenson has moved on.
Working off the recent federal cap on payday loans to military service members, the Center for Responsible Lending, Consumer Federation of America and National Association for the Advancement of Colored People have begun working to get as many states as possible to limit all payday loans to charging interest rates...
CUNA and NAFCU joined forces to run an advertising campaign in the major Capitol Hill newspapers in the wake of the release of the Government Accountability Office reports on credit union taxation and executive compensation and the independence of NCUA. Publications where it appeared last week included Roll Call, The...
Mid-Atlantic Corporate has had a number of technology developments of late.
WesCorp recently teamed up with Windward Community Federal Credit Union here to host another edition of Operation Best Wishes.
The briefs filed by both sides in the Mike Miller versus CUNA case before the Madison Equal Opportunities Commission illustrated the fiery stances of each party.
The demand for commercial and industrial loans at banks across the country has ranged from flat and declining to strong and competitive since August.
Alliance One, the national selective-surcharge ATM group managed by Corporate One Federal Credit Union, has reached an agreement with Dallas-based Affiliated Computer Services, Inc., to provide surcharge-free ATM access to residents of Indiana and Illinois who receive state-issued benefits and payments such as child support and unemployment insurance benefits via...
Corporate credit unions are laying off risk-based capital for the time being.
During an address last week to the National Policy Meeting of the Hispanic Alliance for Progress Institute, NCUA Vice Chairman Rodney E. Hood touted mainstream financial services providers over predatory lenders.
The Congressional and banking furor over Wal-Mart Stores' foray into retail banking hasn't dimmed the credit union march into striking deals for more of the in-store branches.
CUES and WesCorp said today the Executive Finance & Economics Institute, scheduled for Feb.11-16, 2007, has been canceled. The two organizations are considering making modifications to the institute to make it more economically feasible for all credit union leaders, according to CUES. This may include condensing the materials to modify...
Envision Credit Union has found a unique way to promote financial literacy while also arming locals in the fight against identity theft.
WesCorp has hired Sebastian Verrier as its eastern regional director.
Experts from Southwest Corporate Investment Services showed off their balance sheet risk management skills at a recent conference here.
A 33-year veteran of the agency, NCUA Region II Director Edward P. Dupcak announced that he would be retiring at the end of the year.
Georgia Central recently added a Due Diligence section to its Web site (www.gacentral.org) designed to help member credit unions address both internal and regulatory requirements surrounding the safety and soundness of Georgia Central as a business partner.
Check imaging at the ATM has moved significantly closer to reality.
With its legal fight with the $1.7 billion DFCU Financial currently still bogged down, DFCU Owners United has fielded a slate of candidates for the credit union's next board elections.
NAFCU's Senior Vice President of Communications Jay Morris aired on Washington's WTOP radio warning online Christmas shoppers of the dangers that lurk in cyberspace.
Missouri Corporate Credit Union has been selected as a recipient of a 2006 Missouri Quality Award. The $755 million CU serves over 225 natural person credit unions in the U.S. In vying for the state-level award, organizations are judged against standards of excellence in the following areas: Leadership, Strategic Planning,...
After a glimmer of hope in September, credit union savings growth at this point is not getting any better, according to CUNA's latest data.
Fiserv has made some changes to its management ranks. It has added two group presidents and announced some other high-level executive moves, including one very close to credit unions. Tom Neil, who heads up the Fiserv Credit Union and Industry Products Group, is now group president for depository institution core...
Forty credit union professionals turned out for Members Business Services' first user group meeting.
CUNA announced the formation of its new Community Credit Union Committee, which it agreed to do with the dissolution of the National Association of Community Credit Unions. The committee was established to address the unique needs and competitive challenges of community credit unions. Its purpose is "to support and service...
Local government and credit union dignitaries turned out for a brief ceremony to share the success of Shiloh of Alexandria Federal Credit Union's recent Member Home Improvement project.
CUNA hosted the World Council of Credit Unions' G7, bringing together the world's largest credit union organizations, to discuss their critical issues of the day.
Constitution Corporate Federal Credit Union announced that Brian Terry, vice president IT/Operations, and Fred Marenna, operational systems supervisor, have received the Accredited ACH Professional designation from NACHA, the Electronic Payments Association. NACHA represents more than 12,000 financial institutions through direct memberships and a network of regional payments associations, and 650...
Corporate credit union balance sheets are impacted heavily by what natural person credit unions are experiencing.
Strategic alliances and partnerships pop up all the time in the credit union industry, but some stand out as having the potential to change the way credit unions do business.
As the $332 million Lafayette Federal Credit Union moves toward the Dec. 16 special meeting that will end the balloting on whether or not it will remain a credit union, there are indications that the institution might find it especially hard going as a bank.
On the heels of NCUA's own report on credit union service and executive compensation, the Government Accountability Office has issued a similar report with a bonus study on the objectivity of NCUA, both of which each side has put in different lights.
Shiloh of Alexandria FCU Chairman John DuPree, Sr. talks with NFCDCU Executive Director Cliff Rosenthal following an event celebrating the tiny community development credit union's new home improvement program. See page 6 for more details.
Known for its tax and small business software, tech giant Intuit is acquiring Digital Insight, one of the first pure Internet banking companies, for $1.35 billion.
A number of credit unions outside of Utah are continuing to sign on with Mountain America Credit Union's member business lending CUSO.
Credit union lobbyists expected a fairly brief and quiet lame duck session of Congress for last week concluding with a continuing resolution to fund the federal government and a new Secretary of Defense.
Two of credit unions' strongest allies in Congress introduced legislation in the waning days of the 109th Congress to expand thrift auto lending, which has left NAFCU asking, "What about credit unions?"
Evansville Teachers Federal Credit Union has brought $2.5 million Field Employees Federal Credit Union into its fold.
During the CUES 2006 Directors Conference here, BMI Federal Credit Union Board Director L. Ben Freudenreich has been named the 2006 CUES Directors Educational Forum Director of the Year.
David E. Phillips is the new president/CEO of Credit Union Central of Canada effective Dec. 1.
Verified Access is the latest technology launched by America First Credit Union to ensure its members of a safe and secure online banking environment. The enhanced login system will take effect Jan. 1, 2007.
Educational Employees Credit Union has become the first USERS Inc. client to use the Fiserv unit's multi-factor authentication system for Internet banking.
SilverCloud Software announced six more credit unions have signed on to use the company's knowledge-management system.
Fuze Digital Solutions (www.fuze.com) is now offering Spanish, French and German language support to its knowledge management and support solutions, the company says. The feature will be part of the Fuze Suite v6.2 release set for next month and will be in the form of components that facilitate management across...
Georgia Federal Credit Union is using integrated software tools from three sources to streamline and expand its lending processes.
Three new credit unions have agreed to convert to the GalaxyPlus Credit Union Systems' core processing platform, the company says.
A scripting program that Digital Dialogue uses in its two Michigan member service centers is now being offered to credit unions.
As promised, Corillian Corp. is making its move toward the broader credit union market.
If your credit union is like most, it probably has too much capital. Many credit unions go to exhaustive measures to save every nickel and dime, but then leave earnings on the table when they don't optimize their capital. Those credit unions may want to consider returning the excess capital....
Thank you for the front-page article in your Nov. 22, 2006 issue titled "California/Nevada League Credit Unions Laud Cheney for "Seamless Transition'." First I must say the transition has been seamless and I look forward to working with Bill Cheney, our new president/CEO. As the incoming chairman of the Nevada...
Most credit union leaders agree that the taxation issue is a deal breaker. That is if credit unions were to lose their tax-exempt status, there would be very little reason to remain a credit union. Conversions to banks would be the order of the day. Credit unions would enjoy the...
EAST Penn East Federal Credit Union, Scranton, Pa., has named Erica McLain part-time teller. Merrimack Valley Federal Credit Union, North Andover, Mass., has appointed Kyrsis Figueroa to accounting manager. HarborOne Credit Union, Brockton, Mass., has named John M. Mearls direct underwriting manager. GFA Federal Credit Union, Gardner, Mass., has appointed...
New Voting Poll: Cast Your Vote for Top Story of 2006
Credit Union Times is launching an expanded awards program in 2007. As the leading independent publication in the industry, the awards program is unbiased and open to all credit union professionals and volunteers, making it the premier awards program in the industry. Winners will be selected by the editorial department.
In the story "Franklin First FCU Pulls in $4.2 Million in CD Promotion" in the Dec. 6 issue, it was reported that Franklin First Federal Credit Union brought in $4.2 million in certificates of deposit in six weeks. The credit union actually brought in that amount in 12 weeks. We...