Credit Union Times Magazine February-15, 2006

  • CUNA Seeks Comment on IRS Proposal To Halt ITINs for Account Opening

    WASHINGTON-CUNA is asking its membership its position on an IRS proposal to discontinue providing Individual Taxpayer Identification Numbers for nonresident aliens (NRAs) to open an interest bearing deposit account. The IRS has come to the conclusion that ITINs for this use serve no "tax purpose," according to CUNA's comment call....

  • CUNA Mutual's Latest Layoffs Again Focus on Back-Office Functions

    MADISON, Wis. - CUNA Mutual recently announced 90 more job cuts, most taking place in the back-office, which has been a common thread of many of its layoffs. CUNA Mutual has now laid off 510 employees, almost 10% of its workforce, since last fall. Of the latest 90, 55 are...

  • NCUA Shares Hurricane-Related Supervisory Guidance

    ALEXANDRIA, Va.-NCUA recently provided all the credit unions it regulates with the same guidance given to examiners with regard to evaluating credit unions impacted by Hurricane Katrina. NCUA enclosed in a Letter to Credit Unions (06-CU-01) the Supervisory Letter all Federal Financial Institutions Examination Council member regulators and Alabama, Louisiana,...

  • ABA Has 15 Days to Respond - NCUA Asks for Dismissal of America First Challenge for Mootness

    ALEXANDRIA, Va.-NCUA has asked Utah District Court Judge Dale Kimball to dismiss the American Bankers Association's claims against the agency in the approval of underserved areas for a community credit union in Utah as moot. The Department of Justice, on behalf of NCUA, filed a motion to dismiss stating that...

  • Bush Administration Zeroes Out CDFI Fund, Again

    WASHINGTON - For the second year in a row the Bush administration has requested almost nothing for the U.S. Treasury Department's Community Development Financial Institutions Fund. Although this administration has never sought full funding for the CDFI effort, Jennifer Vasiloff, executive director of the CDFI Coalition, an organization of CDFI...

  • CU Miracle Day, Inc. Kicking Cherry Blossom Fund Raising into High Gear

    WASHINGTON-The Credit Union Cherry Blossom 10-Mile Race is not just for D.C.-area credit unions and CU Miracle Day, Inc. is working to get the word out. "What we are trying to do, since it was started as a local event, is say this is a national event," CUNA Chairman Juri...

  • Credit Union Trades Request More Time for Overdraft Reg Compliance

    ALEXANDRIA, Va.-CUNA and NAFCU were in agreement that credit unions may need more time to comply with NCUA's interim final rule on overdraft disclosures under the Truth in Savings Act. The NCUA Board issued the item for comment Nov. 29, similar to one issued by the Federal Reserve, requiring credit...

  • House Passes Deposit Insurance Reform

    WASHINGTON-Congress recently sent the deposit insurance reform legislation to the president to sign into law. The legislation merges the Bank Insurance Fund and the Savings Association Insurance Fund under the FDIC; requires the FDIC and NCUA to index the insurance coverage to inflation every five years, beginning in 2010; increases...

  • Credit Union Loan and Technical Assistance Grant Program? Not Performing

    WASHINGTON - The NCUA's Technical Assistance Grant Program is one of those listed as "not performing" by ExpectMore.gov, a Web site the Bush Administration's Office of Management and Budget set up to report on the progress - or lack of progress - of different federal programs. "The program is duplicative...

  • Blaine Predictably Blunt in Criticism of Overdraft Reg

    RALEIGH, N.C.- State Employees Credit Union CEO Jim Blaine is a noted opponent of the way the government is handling overdraft disclosures, and his comment letter made a statement loud and clear. "Fascinated by the "Alice-in-Wonderland" thinking which proclaims "courtesy overdraft" and "bounced-check protection" advances are not loans," he wrote....

  • Extra Payday in December Bumps 2005 Savings Up; '05 Saw Savings Outpace Loans

    WASHINGTON-A payday falling on the last business day of 2005 provided a boost to the disappointing credit union savings figures, according to CUNA's Monthly Credit Union Estimates. December saw a 1.0% increase in savings, which is typically odd because of holiday-related spending, for year-to-date growth of 3.8%. This figure was...

  • New York League Organizing to Counter CRA Move

    LATHAM, N. Y. - The New York Credit Union League has alerted all credit unions in the state to a proposal that would add them to the state's CRA regulations. According to Mike Lanotte, general counsel for the league, a state legislator introduced the proposal late Friday (Feb. 3), catching...

  • RALs at a Glance

    *Based on IRS data for 2004, an estimated seven million families eligible for anti-poverty benefits through the Earned Income Tax Credit spent more than $900 million on Refund Anticipation Loan fees. They also paid $1 billion in tax preparation fees and $205 million in check-cashing fees to obtain RAL monies-all...

  • NAFCU Makes Some Organizational Changes

    ARLINGTON, Va.-NAFCU made some organizational changes last week to better situate its staff to handle anything that gets thrown at them. Since NAFCU hired Dan Berger as senior vice president of governmental affairs to replace Bill Donovan, who had served in that role as well as general counsel, President and...

  • NCUA Helps Rein in Federal Budget

    ALEXANDRIA, Va.-Over the last two years, NCUA has requested less money from Congress for its Community Development Revolving Loan Fund program as part of the overall tightening of the federal budget. NCUA delivered its FY2007 Budget Justification Monday, Feb. 6, according to Director of Public and Congressional Affairs John J....

  • CUSO Financial Services has "Mixed Emotions" About Addison Avenue FCU's Broker-Dealer Acquisition

    SAN DIEGO - The mood around CUSO Financial Services, LP lately can best be described as bittersweet as the broker-dealer comes to grips with the news that one of its most successful clients is striking out on its own. On Jan. 26, the $1.7 billion Addison Avenue Federal Credit Union...

  • Federation Launches Mortgage Center for CDCUs To Help Them Expand Mortgage Offerings

    NEW YORK - The National Federation of Community Development Credit Unions' effort to help community development credit unions offer their lower income members more mortgages is underway. The Federation intends the new CDCU Mortgage Center to both provide CDCUs with training and expertise they need to make more mortgage loans...

  • One-Time CURIA Co-Sponsor Moore Touts Financials' Role in Next Level of Civil Rights Movement

    MILWAUKEE - Urging Americans to remember that the civil rights movement has evolved to another level, Rep. Gwen Moore (D-Wis.) recently said African-Americans must have access to banks, credit unions, and mortgage companies with "fair lending practices." In a Feb. 4 letter to the editor on www.onmilwaukee.com, Moore said, "They...

  • NCUA Files for Dismissal in Members 1st FOM Case

    SCRANTON, Pa.-NCUA is seeking a dismissal of the lawsuit challenging its approval of a six county community charter for three Pennsylvania credit unions as the credit unions involved and their trade associations were approved to intervene in the case. On Feb. 6, NCUA filed papers with the U.S. District Court...

  • Persevering New Orleans CUs Receive Federation Money to Rebuild

    NEW ORLEANS - Three credit unions which were among the hardest hit in New Orleans by Hurricane Katrina and subsequent flooding have received funds from the National Federation of Community Development Credit Unions. At a ceremony in New Orleans, Federation Executive Director Cliff Rosenthal presented checks to the $1.3 million...

  • Smith Settles Back in to Kansas Dept. of Credit Unions, Unanimously Confirmed by State Senate as CU Administrator

    TOPEKA, Kan. - It's like dj vu for John Smith. After being away from the Kansas Department of Credit Unions for eight years while serving as director of the Missouri Division of Credit Unions from 1999 to April 2005, Smith has officially begun working as the new Administrator for the...

  • Visa's New "Life Takes Visa" Campaign Hones in on Living Large

    SAN FRANCISCO - Visa may have been where Americans wanted to be for the last two decades, but beginning Feb. 10, 2006 a new ad campaign will suggest to consumers that it is necessary for life itself. The No. 1 card brand will launch "Life Takes Visa," its first new...

  • Teachers FCU Celebrates 53 Years of Service By Hitting $2 Billion in Assets

    FARMINGVILLE, N.Y. - Talk about having an eventful year. Teachers FCU will remember 2005 for the many milestones the credit union enjoyed, not the least of which was celebrating its 53rd anniversary and increasing its assets 4.6% to reach $2.03 billion by year-end. That's not all. TFCU also saw a...

  • NCUA Chairman JoAnn Johnson Announces 2006 Priorities in Home State

    DES MOINES, Iowa-NCUA Chairman JoAnn Johnson outlined the agency's priorities for 2006 in an address during the Iowa Credit Union League's Annual Conference last week. Opportunities and challenges are all around, according to the chairman. "While 2005 presented many challenges, this year's opportunities are expected to be met with progress...

  • NAFCU At-Large Candidates Share Candid Views on Industry

    WASHINGTON - Conversions, the decline of small credit unions, NCUA's protective role plus volunteer involvement all turn out to be among pressing issues in a race underway this spring for NAFCU's three at-large positions on its 11-member board. There are six candidates in this closely watched contest representing a diverse...

  • From Fine Art to the Fine Art of Lobbying, NAFCU's Berger Does It All; Former ACB Staffer, Adjusting to CU Side of Things

    ARLINGTON, Va.-NAFCU's new Senior Vice President of Governmental Relations Dan Berger is using his talents to raise funds for a worthy cause. Demonstrating the credit union "people helping people" philosophy, Berger held an art show Jan. 30 at The Palette Restaurant in D.C. to benefit the Boys and Girls Clubs...

  • Former Credit Union CEO the Focus of Bank Proxy Fight; Former CU's Pay Structure, Performance Challenged

    CHATHAM, N.J - A fight between a former credit union-turned-bank and an investment firm which owns some of its stock has led to allegations of underperformance by the former CU and overcompensation for its CEO and board. The former Synergy FCU became a mutual savings bank in 1998, adopted a...

  • GRFI/The Frerichs Group Partners with Umholtz for Merger Consulting

    CHICAGO - GRFI/The Frerichs Group, a credit union consulting firm specializing in capital strategies along with branch design and site selection, is hooking up with a Colorado shop to offer "merger matchmaking" services. The Chicago-based GRFI/ Frerichs said it is joining with Umholtz Strategic Planning & Consulting Services of Castle...

  • Iranian CUs Developing Well; Country in Global Spotlight Over Nuclear Developments

    TEHRAN, Iran - Iran is in the news for its alleged development of its nuclear capacity, but there is another development going on. A credit union movement is growing rapidly and well. It is a movement reaching out to international organizations including the World Council of Credit Unions and the...

  • Michigan CUs Poised to Gain Members, Exposure from CUcorp Contract with AAA Michigan

    NORTHVILLE TOWNSHIP, Mich. - CUcorp, the wholly-owned subsidiary of the Michigan Credit Union League, and AAA Michigan have had a relationship since the early 1970s that let credit unions, through group referral programs, enjoy exclusive discounts from the company for various services. Now the two organizations have taken their relationship...

  • LESPFCU Offers Alternative to Predatory Tax Loans

    NEW YORK-Get your W2s ready.it's officially tax season. It's also the time of year when we see advertisements from commercial tax preparers offering "instant" money back on your tax return. To combat what are considered predatory lending practices by commercial tax preparers, Lower East Side People's FCU has announced that...

  • Allpoint Network Purchased by Cardtronics

    BETHESDA, Md. - Cardtronics, the largest independent deployer of ATMs in the country has purchased the Allpoint Network, the ATM network which provides fee-free access to ATMs nationwide in exchange for a monthly fee from participating credit unions and banks. Cardtronics has been Allpoint's largest ATM partner for some time...

  • CU Trades Friendly, But Not Too Familiar with New Majority Leader

    WASHINGTON-Congressman John A. Boehner (R-Ohio) was elected to the House majority leader post last week after Tom Delay (R-Texas) resigned as a result of his money laundering indictment. Boehner had served on the Agriculture Committee and chaired the Education & the Workforce Committee. "We do have and the league has...

  • NCUF Honors Three League Presidents

    WASHINGTON - Anne Cochran, CEO of the Louisiana Credit Union League, Charles Elliott, CEO of the Mississippi Credit Union Association and Guy Hood, CEO of the Florida Credit Union League will all be honored by the National Credit Union Foundation for their efforts to help their credit unions recover from...

  • Payday Lending in Front of Virginia General Assembly

    RICHMOND, Va. - Virginia's general assembly has begun to consider at least three pieces of legislation designed to reform or reign in the practice of payday lending in the state. The Commonwealth began allowing firms to make payday loans in 2002. Previously the practice was little known in Virginia except...

  • Becker Discusses RALs: Around The Nation in 15 Seconds

    ARLINGTON, Va.-From the comfort of NAFCU's Arlington, Va.-headquarters, President and CEO Fred Becker took a radio tour to address Refund Anticipation Loans. Yes, it is that time again. Many tax preparers and lenders offer RALs, a loan based upon what the taxpayer expects to get back from Uncle Sam. But...

  • California Ad Campaign Praised by Key Lawmaker

    RANCHO CUCAMONGA, Calif. -The advocacy ad campaign of the California/Nevada Credit Union Leagues has received unexpected praise from a California Congresswoman. Speaking at a CCUL fund-raiser at Kinecta FCU in Manhattan Beach, U.S. Rep. Juanita Millender-McDonald, a Democrat representing Los Angeles' South Bay, said she was so delighted in hearing...

  • MasterCard Volume Up Almost 12% in 2005

    PURCHASE, N.Y. - MasterCard has announced that its gross dollar volume on its branded cards rose 11.9% in 2005, flowing from 19.1 billion transactions worth $1.7 trillion. "Innovations like our PayPass contactless payments technology, combined with the global strength of our brand and ability to provide our customers with leading-edge...

In Other News

  • Send Us Your "People" and "In Other News" Press Releases

    Best method: e-mail to pgentile@cutimes.com (color pics should be at least 230 DPI); those that must be mailed (not preferred) send to ATTN: People Editor, 560 Village Blvd., Suite 325, West Palm Beach, Fl. 33409.

  • BRANCHING OUT

    Foothill Federal Credit Union, Arcadia, Calif., has hosted the grand opening of its new Covina Branch. Over 50 people, including credit union members, employees, representatives from the Foothill Federal Credit Union Board of Directors, and the Covina Chamber of Commerce were all in attendance. The Express branch is focused on...

  • DONATIONS

    Jersey Shore Federal Credit Union, Northfield, N.J., has sponsored a Bowl-A-Thon to help feed the hungry in the area. Over $3,100 was collected to benefit the Community FoodBank of New Jersey. Top pledge collectors included James Shepherd, Ruth Agbowu and Al Cavileer. The donation brings the credit union's three-year total...

  • AWARDS

    SC Telco Federal Credit Union, Greenville, has been presented three major awards from the United Way of Greenville County. The $114 million credit union walked away with the prestigious 2005 Chairman's Award; Campaign Award of Advancement for creating at least a 25% increase in giving over the 2004 United Way...

  • DONATIONS

    Alamo Chapter of Credit Unions, San Antonio, has celebrated the 20th anniversary of Credit Unions for Kids (CUFK) by presenting Christus Santa Rosa Children's Hospital with a check for $384,892. CUFK is a national fund-raising program, which began in San Antonio in 1985 as a collaborative effort of credit unions...

News

  • NYCUF Awarded Educational Grant

    ALBANY, N.Y. - The National Council on Economic Education (NCEE) has presented the New York Credit Union Foundation a $9,978 grant. The grant will support the classroom component of a youth financial education project, Kid's Cash Kit & Caboodle, which the NYCUF is piloting with seven credit unions across the...

  • Travis CU Names Membership Drive Winner

    VACAVILLE, Calif.-Travis Credit Union has not only had a successful Friends & Family membership drive but has given away an environmentally friendly grand prize to one lucky winner. New member Holly Sontag was handed the keys to a new Honda Hybrid. Sontag's name was randomly drawn from more than 3,700...

  • Credit Union Super Bowl Ads Reach Millions in Three States

    SEATTLE - They may not have been big players, so to speak, but credit unions in at least three major TV markets cashed in on Super Bowl advertising during the big football championship game Feb. 5. Indeed, in Seattle where the underdog Seahawks succumbed to the favored Pittsburgh Steelers, a...

  • Unity One FCU Promotes Attendance

    FORT WORTH, Texas - Unity One Federal Credit Union is proving to Fossil Ridge High School students that it can literally "pay" to go to school. In an effort to promote perfect attendance, the $110 million credit union has teamed with the high school to provide cash rewards to those...

  • Members Credit Union Doubles Up New Promotional Campaign; Funny Glasses Are the Key

    WINSTON-SALEM, N.C. - Members Credit Union is counting on a case of double vision to encourage members to save. "Americans simply aren't saving money," said MCU Vice President of Marketing Eric Stiff. "Our duty as a not-for-profit financial institution is to find a way to help members learn both the...

  • Iran's Largest CU Can Serve Anyone in Country

    TEHRAN, Iran - The Samen Taavoni Credit Union based in Tehran was founded in 1997 to help soldiers and their families who had been affected by the Iranian-Iraqi war. They are now the largest credit union in the country. Membership is open to anyone. More than 1,700 employees service members...

  • 2006 Year of Change for Consumers Cooperative CU

    WAUKEGAN, Ill. - Consumers Cooperative Credit Union has celebrated turning 76 by revamping its logo and tagline. With an eye on standing out from the competition, the contemporary new image includes not only the shortened name of Consumers CU but also the promise of "Your Life, Our Commitment" "These words...

  • Ad Fallout? OnPoint Community CU's Media Blitz Pays Dividends for Point West Credit Union

    PORTLAND, Ore. - In a twist that is in keeping with the "people helping people" philosophy, Portland Teachers CU's recent name change to OnPoint Community Credit Union has proven to be a boon for Point West Credit Union. According to Point West CU Vice President of Marketing /Business Development Mike...

  • Last Call for Scottish Credit Unions Government Grants

    EDINBURGH, Scotland - Scottish credit unions have until March 1,2006 to apply for funds to help them promote membership, conduct training and refurbish their premises from the Scottish Credit Union Capacity Fund set up by the Scottish Executive (Parliament) to promote credit union membership among the population. The Scottish Executive...

  • Texans CU Showcased on United Way Web Site

    DALLAS - With more consumers looking to organizations that deliver on the message of social responsibility, Texans Credit Union has scored big by being featured on the United Way of Metropolitan Dallas' Web site for its fundraising efforts. In 2005 the $1.5 billion credit union raised over $160,000 for the...

  • Former CUs' Leadership Called Out

    In what could be an ugly proxy fight, a credit union turned bank is taking heat from a large investor for the institution's performance and executive pay. See page 4.

  • CUs Take Center Stage with Latest Student Financial Literacy Efforts

    WEST PALM BEACH, Fla. - Can a little Broadway flair help credit unions spread financial literacy and strike a chord with younger students? Credit unions that have participated in the Googolplex@ School program respond with a resounding yes. A multi-platform, in-school educational program, Googolplex@ School is the result of a...

  • Live Check Promotions Worth the Risk? Ventura County Credit Union Says Yes, to the Tune of Nearly $8 Million

    VENTURA, Calif. - In this era of compromised cards and identity theft, live check pre-approval promotions have fallen out of vogue with many credit unions. Don't tell that to Ventura County Credit Union, which is wrapping up a successful Holiday loan promotion that netted the institution $7.7 million in new...

  • Tampa Bay Federal Revamps Web Site

    TAMPA, Fla. - The new year has brought a new look and feel to Tampa Bay Federal Credit Union's Web site. In addition to better navigation, one of the new design elements includes the "flying money" design that can be spotted all over town on Tampa Bay Federal ATMs and...

  • Special Report: Marketing

    Credit unions have proven to be innovative, savvy marketers. See some of their savvy on display in the special report on pages 20-25.

  • Meriwest Credit Union Discovers its Member Relationship Program Needs an "Extreme Makeover"

    SAN JOSE, Calif. - Part of the promise behind the launch of a membership relationship program in 1996 by Meriwest Credit Union was to reward members based on their level of loyalty, but after nearly a decade, some changes were in order. It's not because the program wasn't a success...

News Briefs

  • Regulators Reject External Auditor Liability Limitations

    WASHINGTON-NCUA, in concert with the other federal financial regulatory agencies, recently issued an advisory expressing their concerns over financial institutions' agreements to limit the liability of their external auditors. The regulators' primary concern is that limiting the liability of external auditors in their engagement letters could result in less reliable...

  • Greater Harrisburg Community CU Liquidated

    ALEXANDRIA, Va.-NCUA, working with the Pennsylvania Department of Banking, determined that Greater Harrisburg Community Credit Union was insolvent and shut it down. The agencies found that the relatively new institution had "no prospects of restoring viable operations." According to a statement from NCUA, "Efforts to extend credit union service to...

  • Cheney Exit Spurs NAFCU Board Changes

    ARLINGTON, Va.- With the resignation of NAFCU Treasurer Bill Cheney from the board, NAFCU's board acted to elect two new officers. Nevada Federal Credit Union CEO Brad Beal was elected to replace Cheney as treasurer. Dave Gilbert, chairman of Aberdeen Proving Ground Federal Credit Union, was voted in to succeed...

  • New CU Lending, Leasing Program Debuts from CIT Group, MicroBilt

    NEW YORK - CIT Group Inc. and MicroBilt Corp. have come together to create a new commercial lending and leasing referral program designed for credit unions and other financial institutions. The MicroBilt Financial Business Loan Program will provide CUs with access to its business loan services through its CreditCommander.com platform,...

  • Abercrombie Latest Congressman to Back CURIA

    WASHINGTON-As Congress gets back to work in D.C. after the long winter recess, Congressman Neil Abercrombie (D- Hawaii) signed on as the most recent federal legislator to co-sponsor the Credit Union Regulatory Improvements Act (H.R. 2317). CURIA includes a number of regulatory relief measures, like expanded investment powers and extended...

  • CU Tax-Exemption Estimated At $8.2 Billion 2007-11

    WASHINGTON-Every year, when the president's budget comes out, it includes the annual estimates for tax expenditures. Among those is the credit union tax-exemption, a figure that the banking groups often use against credit unions. According to the budget's "Analytical Perspectives," credit unions' tax-exemption cost the Treasury $1.29 billion in 2005....

  • `Go Direct' Money One FCU Advises Members on Direct Deposit Program

    LARGO, Md. - Money One Federal Credit Union is among the latest to sign on to a program that encourages the use of direct deposit for Social Security and other federal benefit checks. The $85 million CU has partnered with the U.S. Department of the Treasury and Federal Reserve Banks...

Credit/Debit/ATM

  • Credit Union 24 Hits Transaction Milestone

    TALLAHASSEE, Fla. - Credit Union 24, the credit union-owned ATM network headquartered in Florida, processed almost 18 million ATM and EFT transactions in December 2005, a record for a single month and 23% over the number of transactions the network processed in December 2004. "Credit Union 24's consistent transaction growth...

  • Card Over Limit Fees Slow Upward Growth

    FREDERICK, Md. - Over limit fees are still rising among major card issuers, but at a significantly slower pace than previously, according to Cardweb.com, a Web site which tracks card industry trends. Even though the average over limit fee crossed the $31 milestone in 2005, the site reported that this...

  • Sheetz to Roll Out Surcharge-Free ATMs

    ALTOONA, Penn. - Sheetz, a network of 310 convenience stores spread across Pennsylvania, West Virginia, Maryland, Virginia, Ohio and North Carolina will stop surcharging for ATM transactions at its stores this year, a company spokesman confirmed. The company is negotiating the details of the move with its ATM deployer now,...

  • FSCC Announces Record Patronage Dividend

    SAN DIMAS, Calif. - Credit unions which are members of the Financial Service Centers Cooperative shared branching network will share in a record $1.8 million patronage dividend later this year, the network has announced. The West Coast network said it would distribute the funds in the wake of the patronage...

Lending

Tech Bytes

  • Bellco CU, Digital Insight Partner to Serve CU's Growing Online Biz Services, Open Solutions Forms Similar Alliance

    DENVER - Bellco Credit Union has partnered with Digital Insight Corp.'s Member Business Services to help grow and retain its online business services membership. The $1.57 billion CU will work with the firm's platform, a cash management solution that helps business members manage their accounts, understand their cash position, make...

  • Indirect Lending for Auto Loans into Smaller Credit Unions

    ALLENTOWN, Pa. - Mark Klucar says car dealerships in town are "stunned" when they find out his credit union can offer the same instant loan processing and approval prowess through DealerTrack as any of the big banks. Klucar is indirect lending manager for $229 million People First FCU in Allentown....

  • Navy Federal Adds Fidelity's Collections Module

    JACKSONVILLE, Fla. - The world's largest credit union, Navy Federal, has started utilizing Fidelity National Information Services' new collection module. FIS, a subsidiary of Fidelity National Financial, Inc., stormed on the credit union scene a few years ago with the acquisition of credit union data processor Aurum Technology. Since, it...

  • Perimeter Internetworking Acquires Red Cliff

    MILFORD, Conn. - Managed security provider Perimeter Internet-working has acquired Red Cliff Solutions. With approximately 450 credit union customers, Red Cliff claims to be the market leader in providing managed security services specifically to credit unions. The Red Cliff Web site lists alliances with Cavion Plus, CUSA Technologies, and SOSystems....

  • SECU Chooses Corillian for Fraud Prevention

    RALEIGH, N.C. - State Employee's Credit Union has selected Corillian Corporation's Fraud Detection System and Intelligent Authentication products to provide enhanced security to the credit union's home banking platform. SECU has been using Corillian's Voyager home banking platform since 1998. According to Corillian, the Fraud Detection System analyzes traffic on...

  • Passageways Portal Provider Surges into 2006, Enterprise Messaging Up Next

    WEST LAFAYETTE, Ind. - Passageways LLC has entered the new year on the strength of a 2005 that saw the portal provider nearly triple its business. The tech CUSO of $406 million Purdue Employees Federal Credit Union says it added 40 new users last year, more than doubling its client...

Special Report

  • Southwest Corporate Gets Access to Big Banks for Image Exchange

    PLANO, Texas - Southwest Corporate is hooking up with Viewpointe, an image firm backed by the country's biggest banks, to facilitate image exchange. Viewpointe is owned by mega banks Bank of America, Wells Fargo, SunTrust, U.S. Bancorp and J.P. Morgan Chase. These banks represent tremendous check volume and when they...

  • Mid-States and Empire Take Another Merger Step

    WARRENVILLE, Ill. and ALBANY, N.Y. - In a sign that the merger is progressing, Mid-States Corporate and Empire Corporate have filed their merger application with NCUA. The corporates also announced a series of town hall meetings in both corporates' geographic areas to provide merger information to member credit unions. An...

  • Three Corporates Back Police Officers' CU Conference

    MIDDLETOWN, Pa. - Three corporate credit unions - Corporate Central CU, Corporate One and Mid-Atlantic Corporate - have partnered to become the platinum sponsor of this year's Police Officers' Credit Union conference. "We currently have identified over 70 credit unions in the country that have the word police in their...

  • Corporate Credit Unions sponsor IT Best Practices Initiatives at CUISPA Meeting

    AUSTIN, Texas - Under the umbrella of the Association of Corporate Credit Unions, the nation's 29 corporate credit unions are actively leading the charge to document industry best practices in the realm of information technology. Speaking to corporate and natural person credit unions at the Credit Union IT Risk Management...

Letters to the editor

Opinion

  • Market Research Your Credit Union Can't Afford to Ignore

    Those of us in the field love the excitement, the thrill of a new idea, the rush that comes with starting a new campaign. It's like the fisherman flinging his net into the deep blue sea, never knowing how successful the day's catch will be. Yet the days of "let's...

Publisher's Column

  • CEOs Have it Made.or Do They?

    Being a CEO must be great. Years of working your way up the ladder have culminated with you becoming the preeminent leader of the organization. You're the top dog, the one who sets the pace for everyone else. The perks aren't bad either. CEOs have nice corner offices, dedicated parking...

Staking Out the Stats

  • Staking Out the Stats

    NEW YORK - Credit unions looking to connect with Generation Y may need to re-evaluate their marketing approach. According to a recent survey by marketing firm Jack Morton Worldwide, marketers won't have much success in getting their message across to this group through traditional mass media. The survey suggests developing...

People

  • VENDORS

    PWCampbell, a design/build firm, has appointed Susan F. Foley human resource manager. PassMark Security, an authentication solutions provider, has named Kim MacPherson vice president of engineering. Digital Defense, Inc., a provider of network security vulnerability and penetration testing services, has named Patty Koebele director of marketing.

  • MIDWEST

    Scott Credit Union, Collinsville, Ill., has named Michelle Rose loss prevention manager. Heritage Credit Union, Madison, Wis., has named John Hadley Huxley Street branch manager and Becki Hoppe loan officer.

  • SOUTH

    Local Government Federal Credit Union, Raleigh, N.C., has named Garland Avent finance vice president. First Flight Federal Credit Union, Havelock, N.C., has named Maggie Larson vice president/mortgage loan consultant.

  • WEST

    Wescom Credit Union, Pasadena, Calif., has named Anthony Nowak vice president of branch operations region 3. SELCO Community Credit Union, Eugene, Ore., has named Travis White business development officer. Nevada Federal Credit Union, Las Vegas, has promoted Stephen O'Donnell to vice president/controller. America First Credit Union, Ogden, Utah, has named...

  • EAST

    Holy Rosary Credit Union, Rochester, N.H., has promoted Rosemary Shields to assistant vice president of branch administration. HarborOne Credit Union, Brockton, Mass., has named Irina Galiouk Canton branch manager. In addition HarborOne CU has promoted Kelly-Anne Ferreira to mortgage servicing manager. Mon-Oc Federal Credit Union, Toms River, N.J. has promoted...

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