Credit Union Times Magazine February-15, 2006

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

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

Special Report

Letters to the editor

Opinion

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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