Credit Union Times Magazine February-22, 2006

  • NASCUS Advisory Council Meets in Atlanta, Boston

    ARLINGTON, Va. - More than 50 credit union CEOs, industry and staff from the Georgia and Massachusetts Credit Union Leagues had the opportunity recently to meet with the NASCUS Credit Union Advisory Council to discuss challenges and issues facing state-chartered credit unions. The latest meetings followed similar ones held last...

  • NCUA Offers Clarity on Commercial Vehicle Leases in MBL Rule

    ALEXANDRIA, Va. - The member business lending rule, with some exceptions, applies to any loan, line of credit, or letter of credit where the borrower uses the proceeds for a commercial, corporate, or business purpose, NCUA recently clarified. Cary C. Boyden, an attorney with Sacramento-based Boyden, Cooluris, Livingston, & Saxe,...

  • RCU Helps Locals Shred Identity Theft Concerns Away

    SANTA ROSA, Calif., - With identity theft a growing consumer concern, Redwood Credit Union has teamed up with the National Association of Professional Organizers to host a "Shred-A-Thon" event for locals here. Tapping the services of Shred-It, the credit union invited individuals and businesses in the community to bring their...

  • FinCEN Advises Financials How to Guard Against Hurricane-Related Benefit Fraud

    WASHINGTON-The Financial Crimes Enforcement Network recently warned financial institutions about the potential of hurricane-related benefit fraud after the triple threat that struck late last year. "In the wake of the devastating Hurricanes Katrina, Rita, and Wilma that struck during the past year, an unusually large amount of emergency financial assistance...

  • Lobbying Scandals Should Not Impact CU Trade Activities

    WASHINGTON-Many Americans inside the Capitol Beltway and out are waiting to see what politicians are going to do about the recent lobbying scandals affecting Congress. Lobbyist Jack Abramoff, notorious now for `gifts' provided to various lawmakers, touched off a wild fire of lobbying reform efforts when he began naming names...

  • NCUA Saved 27,000 Exam Hours in 2005 Through Mergers, Efficiencies

    ALEXANDRIA, Va.-After America's Community Bankers requested House Financial Services Committee Chairman Mike Oxley (R-Ohio) to seek a Government Accountability Office study into NCUA's staffing shortage, the agency ended the year with a savings of 27,000 exam hours. NCUA said that it performed 598,636 hours of examination and supervision compared to...

  • Two Former Utah CU CEOs Indicted for Embezzment

    SALT LAKE CITY - In separate cases, the former presidents of two Utah credit unions have been accused of embezzling money from their former employers. Linda Carson, former president of Grantsville FCU, was indicted by a federal grand jury on Feb. 8. She was accused of taking almost $131,780 from...

  • Ent Adding Four High-Tech Branches

    COLORADO SPRINGS, Colo. - Seeking to expand its reach into the Denver and Pueblo markets, Ent Federal Credit Union announced this month it has plans to add four high-tech service branches in 2006. "We are looking now for property in Denver," said a spokesman, citing plans to have a service...

  • $50 Million Goal Set by Mutual Fund to Aid Biz Creation Post-Katrina

    FT. LAUDERDALE, Fla. and MINNEAPOLIS - With the goal of raising $50 million for small business development, a mutual fund is hoping to speed up the recovery in areas hit hardest by Hurricane Katrina. The CRA Qualified Investment Fund (CRAFund) has a $15 million stake in small business loans and...

  • Vermont League Gives Lawmakers Sweet Valentine

    BURLINGTON, Vt. - Following a Valentine's Day tradition now several years old but with a new "more focused" twist, state lawmakers received a sweet Valentine's message from the Vermont Credit Union League in the form of a heart-shaped chocolate lollipop This year, said Joe Bergeron, president/CEO of the league, each...

  • MDDCCUA Reciprocates Congressman's CURIA Support with Fund-Raiser

    LUTHERVILLE, Md.-Congressman Dutch Ruppersberger (D-Md.) stuck his neck out to support credit unions and now they are trying to return the favor. When Ruppersberger became the first Maryland lawmaker to co-sponsor the Credit Union Regulatory Improvements Act (H.R. 2317), he reportedly took a lot of heat from the bankers. So...

  • NYCUF Establishes Harold Korman Endowment to Support Initiatives to Help Small Credit Unions

    LATHAM, N.Y. - The New York Credit Union Foundation has formed the Harold Korman Endowment in memory of the co-founder of Empire Corporate FCU. The endowment will support NYCUF initiatives specifically designed to assist small credit unions. Consolidated League Services, CUC Mortgage and Empire Corporate FCU have made founding donations...

  • CUNA: Privacy Notice and Savings Transfer Reform Ripe for Reg Relief

    WASHINGTON-CUNA President and CEO Dan Mica told Senator Mike Crapo (R-Idaho) in a Feb. 8 letter on his updated regulatory relief matrix that his organization would still like to see a few more relief measures in Crapo's long-awaited legislation. A risk-based capital system and expanded business lending powers were the...

  • Washington Post Article on Credit Union Bank Conversions Highlights Banker Role

    WASHINGTON - An article that ran in the Feb. 11 Washington Post provided an overview of the issue of credit unions converting to banks, tagging the issue as a strategy bankers are using to achieve victory over credit unions. "Some bankers envision a wave of conversions as officers, volunteer directors,...

  • NCUA Stats Indicate Problem Credit Unions Represent Increasing Percent of Insured Shares

    ALEXANDRIA, Va.-The number of troubled credit unions-those rated a CAMEL 4 or 5-has been steadily on the rise since 2000, according to statistics released last week by NCUA. During the presentation of the quarterly insurance fund report at the NCUA Board meeting Feb. 16, agency staff provided data showing that...

  • NCUA Announces Plan for Data Collection on Modest Means Service, CEO Compensation

    ALEXANDRIA, Va.-NCUA decided to work with the Office of Management and Budget rather than engage in a turf war after OMB waved a red flag at the agency's recent announcement that it would begin collecting information from credit unions on their service to members of modest means and CEO compensation....

  • Small Number of DFCU Members Oppose Bank Conversion at Annual Meeting

    DEARBORN, Mich. - The majority of roughly 100 members of the $1.8 billion DFCU Financial Federal Credit Union who attended the credit union's 2006 annual meeting were firmly opposed to the notion of their credit union becoming a bank and, in the end, they said so with a motion against...

  • State Employees Credit Union of Michigan Changes its Name; NuUnion is Born

    LANSING, Mich. - The name over the door reads State Employees Credit Union, but only perhaps one in five members walking in actually works for the state of Michigan. So effective April 3 SECU, will take on a new name, NuUnion Credit Union, and a new slogan, "You've earned this...

  • Volunteers Seem to be Responding to the CUES Directors Advisory Panel

    MADISON, Wis. - CUES is getting a positive response with more than 32 requests so far from volunteers to join a newly formed Directors Advisory Panel, according to CUES officials. "I think that's quite good and demonstrates the interest of volunteers in helping guide educational opportunities for fellow directors," said...

  • Moghaddam: CUs Need to Overcome Fear of Trying New Things, Changing Corporate Culture

    DOWNEY, Calif. - Nader Moghaddam knows all about dealing with changing the corporate culture of a credit union. Since joining Financial Partners CU as president/CEO in January 2005, he's successfully helped the CU's staff create a new corporate vision and adapt to a new way of doing business that benefits...

  • Michigan League Rebuts Think Tank Web Article on Tax-Exemption

    MIDLAND, Mich. - On top of automotive troubles and the bank conversion attempt by DFCU Financial CU, Michigan credit unions were suffering a little more heartburn this month with a banker-written, tax-exemption blast by a think tank here. A position paper appearing Feb. 6 on the Web site of the...

  • Colorado League Considering Name Change to "Association"

    ARVADA, Colo. - Will the Colorado Credit Union League be the next one to join the ranks of former credit union leagues that changed their names and are now called credit union associations? The name change is among the bylaw changes league-affiliated members will vote on at their annual meeting...

  • Centrix Seeks Changes to NCUA's Third-Party Indirect Loan Regs; Mixed Support Among CUs

    ALEXANDRIA, Va. - Nearly 60 days after the NCUA's Notice of Proposed Rulemaking 12 CFR 701 and 741 concerning "Third-Party Servicing of Indirect Vehicle Loans" was published in the Federal Register and coming up on the Feb. 21 deadline for filing comments, only a handful of credit unions and other...

  • Co-Op Campaign in Michigan Shows Gains; Nonmember Awareness of Membership Eligibility Up 15%

    EAST LANSING, Mich. - A $2 million co-op branding campaign started a year ago on radio/TV and print by the Michigan Credit Union League is producing healthy gains in nonmember awareness and service, according to league officials. Addressing the league's annual Marketing Conference here, Darren Cameron, chairman of the league's...

  • Credit Unions Add 1.5 Million Members In '05; CU Count Continues to Dwindle

    According to CUNA Mutual Group's December 2005 Credit Union Trends Report, the member count stood at 87.5 million at year-end boosted by new members added through the expansion of indirect lending, said Dave Colby, CUNA Mutual chief economist. "One would also expect field-of-membership expansions to provide a healthy lift, but...

  • Everyone Knows Where Adams Stands on Bank Conversions

    PLYMOUTH, Mich. - With $1.7 billion DFCU Financial FCU in the midst of converting to a bank, Michigan CU League CEO Dave Adams is at the epicenter of what has become one of the industry's biggest challenges - bank conversions. You won't find him giving cagey responses about where he...

  • Hood Participates In President's Swearing In of New Fed Chairman

    WASHINGTON-President George W. Bush was on hand to perform the ceremonial swearing in of Federal Reserve Board Chairman Ben Bernanke. "That these distinguished guests have chosen to join us today is a testament to the centrality of this institution to the nation's economic life," Bernanke said during the Feb. 6...

  • CUNA, NAFCU Support Back Office Check Conversions

    WASHINGTON-CUNA and NAFCU were generally supportive of a proposal to permit merchants and originating financial institutions to convert checks to ACH debits at the point of purchase during back office processing. CUNA and NAFCU told NACHA-the Electronic Payments Association-that its proposal allowing this conversion of checks up to $25,000 without...

  • CFA: African-Americans Pay Higher Auto Loan Rates, but Can Take Steps to Reduce Expense

    WASHINGTON - The Consumer Federation of America has released the results of a survey it did which show African-Americans pay, on average, a significantly higher annual percentage rate on auto loans than do other Americans - 7.5% compared to 6.0%. But the CFA says African-Americans can also take steps to...

  • Incentives Help Credit Unions Lead with Top Performers

    MADISON, Wis. - When it comes to keeping top performers onboard and happy, it may be time for credit unions to get more creative with their incentive plans. According to a recent CUNA Center for Research & Advice 2006-2007 Incentives Survey, a majority of credit unions that offer employee incentives...

  • IRS Extends Disaster Loss Filing Deadline For Hurricane Victims

    WASHINGTON - Victims of Hurricanes Katrina, Rita or Wilma wishing to claim disaster-related losses on their prior year federal income tax return will now have until October 16, 2006, to make this choice, the Internal Revenue Service announced Feb. 14. Taxpayers suffering disaster-related losses in certain areas of Florida, Alabama,...

  • Three CUs Named Freddie Mac Tier One Gold Servicers

    McLEAN, Va. - Freddie Mac has named three credit unions as being among the 84 single-family mortgage servicers that achieved Tier One Platinum or Tier One Gold performance rankings for superior investor reporting and default management during 2005. Included in the list of 52 Tier One Gold Servicers are: 66...

News

  • Dealer Specialties Gives Online Shoppers 360-Degree View of Dealership's Inventory

    ORLANDO, Fla. - Consumers in the market to buy a used car or truck and using the Internet to research makes and models of vehicles can now use technology to go a step further. Dealer Specialties, a leading provider of data, photo and video collection services, descriptive used-vehicle window stickers...

  • Security, Self-Service Enhanced by New CRM Tools from DCU CUSO fiVISION

    MARLBOROUGH, Mass. - Digital Federal Credit Union is using some homegrown (and owned) technology to help push security and convenience out to its members wherever they may be. After beta testing and modifications, $2.8 billion, 257,000-member DCU is going live with two modules from the CRM platform being developed by...

  • Tech CU Finishes Conversion to Two-Factor, Two-Way Authentication

    SAN JOSE, Calif. - Technology Credit Union has completed converting its entire base of active online bankers to a two-factor, two-way authentication system designed to assure the tech-savvy membership of their online security while meeting new federal guidelines. The $1.1 billion CU is one of the first financial institutions to...

  • Incoming NADA Chairman Urges Dealers to Hang Tough with Big Three Automakers

    ORLANDO, Fla. - It's easy and understandable for dealers to get discouraged these days about the prospects for their future after hearing the news out of Detroit about the Big Three automakers' restructuring plans and likely employee layoffs. But incoming NADA Chairman William Bradshaw is optimistic about the industry's future...

  • Guardium Launches Data Privacy Accelerator

    WALTHAM, Mass. - Database security company Guardium, Inc. has introduced its Data Privacy Accelerator, the first database-centric solution for preventing identity theft, including unauthorized access by `trusted' insiders. The solution debuted at RSA 2006 in San Jose. The Guardium Data Privacy Accelerator builds upon the Guardium SQL Guard platform, the...

  • NADA's Chief Economist Shares 2006 Vehicle Sales Forecast

    ORLANDO, Fla. - The new year is only two months old, but dealership representatives attending the 2006 NADA convention got a peak at the forecasts for new-car sales for the year from the association's chief economist Paul Taylor. Taylor forecasts new-vehicle sales this year will hit 16.8 units. That's down...

  • NCUA Board In Action

    Turn to page 30 to find out what happened at NCUA's February board meeting.

  • Credit Unions Batten Down Electronic Hatches To Keep New Threats at Bay

    WEST PALM BEACH, Fla. - As e-mail and instant messaging become more pervasive credit-union communication tools, so, too, have concerns for securing electronic transmissions between the credit union and its members and business partners. Credit unions have become popular phishing targets, proving phishers don't just target the largest institutions. "Phishing...

  • 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...

  • Universal Underwriters Insurance Co. Unveils FTC Compliance Action Plan for Dealerships

    ORLANDO, Fla. - Universal Underwriters Insurance Company unveiled a new Compliance Action Plan (CAP) for dealers to help them comply with the Gramm-Leach-Bliley Act. Universal Underwriters Insurance developed the new CAP with Member Benefits Services Inc., Continental-National Services Corp. and Dealership Defense LLC. Under GLB, the FTC implemented the FTC...

  • SecureWorks' iSensor Gets NSS Approval

    ATLANTA and SUMNE, France - SecureWorks' network intrusion prevention appliance, iSensor V5.3 has received the NSS Approved award. The NSS Group is a leading independent security testing organization. The iSensor is the hardware appliance which enables SecureWorks' managed network intrusion prevention service. It is used to monitor Internet network traffic...

  • Manheim Publishes 2006 Used Car Market Report

    ORLANDO, Fla. - Manheim, the leading provider of automotive remarketing services, used the NADA 2006 annual convention to release its 2006 Used Car Market Report, its 11th edition. The company says the annual report focuses on the concept of "intelligent remarketing." There is a vast amount of data available on...

  • Minority Auto Dealerships Must Be Part of Auto Companies' Strategic Plans

    ORLANDO, Fla. - Nathan Conyers didn't mince words when he spoke to dealers and factory representatives at the first NADA breakfast for minority dealers. Conyers, the owner of a Jaguar dealership in Novi, Mich. told attendees that any auto company that's tempted to put its minority dealer program on the...

  • DealerTrack Forms Compliance Advisory Council for Dealers

    ORLANDO, Fla. - DealerTrack Holdings, Lake Success, N.Y., has formed the DealerTrack Compliance Advisory Council to assist the company with educating dealers about compliance issues and developing additional products that help dealers better manage their compliance risks. Council members will share their expertise in areas such as new laws and...

  • Automotive Purchase Process Comes Down to Six-Month Window of Intention

    ORLANDO, Fla. - How do consumers decide what vehicles to buy or how to finance their purchase? What influences their decision, and how long does it take them to pare down their choices? Attendees at the National Automobile Dealers Association Conference at the Orange County Convention Center in Orlando Feb....

  • Financial Institutions, Not Surprisingly, The No. 1 Target of Phishing Attacks

    Who are phishers' favorite targets? Financial institutions of course. The statistics below from Visa show that financial institutions account for 80% of phishing attacks. Visa, as the most popular card brand, is affected in two ways - corporate attacks on Visa itself and attacks on its card issuing institutions.

  • CERT Stats Show Vulnerabilities Are on the Rise

    Data from CERT, a government funded organization designed to assist IT professionals in securing their systems, show that the number of system vulnerabilities being reported has gone up just about every year since 1995. As systems get more complex and hackers more sophisticated, the trend doesn't look to be slowing...

  • IS Budgets Declining

    According to Computer Economics' 2005/2006 Information Systems Spending and Technology Trends, though in real dollars IS budgets are up, as a percentage of total revenue they declined in 2005. Take a look.

  • Fraudulent Phone Calls Hit Wauna FCU

    CLATSKANIE, Ore. - There is so much talk about high-tech fraud like phishing, but the low-tech efforts can be equally effective. Wauna Federal Credit Union has its eyes on someone claiming to be from the credit union and asking for personal and financial account information. The credit union has informed...

  • Consumers Don't Research Financial Options Before Car or Truck Shopping

    ORLANDO - Consumers spend a lot of time researching the make and model of the car or truck they're considering buying, but don't make the same effort when it comes to researching their financing options. The results of a survey by Americans Well-informed on Automobile Retailing Economics, Washington, D.C. and...

  • AutoCheckT to be Exclusive Vehicle History Provider for Autobytel Web Sites

    ORLANDO, Fla. - Autobytel inc., a leading Internet automotive marketing services company, has named Experian Automotive's AutoCheck solution as the exclusive provider of vehicle history reports for used vehicles listed on its family of Web sites. The Web sites include: 222.autobytel.com, www.autoweb.com, www.carsmart.com, www.autosite.com, and www.autoahorros.com. Experian Automotive is a...

  • Out-going NADA Chairman Praises Dealers' Resilience in Face of Disasters, Obstacles

    ORLANDO, Fla. - Out-going NADA Chairman Jack Kain used his last address to the association at the opening ceremony of the National Automobile Dealers Association's 2006 Annual Convention to commend car dealers' response to last year's devastating hurricanes. He described their behavior as being one of the many examples that...

  • GuardID Systems Unveils New Consumer Identity Theft Protection Device

    PHOENIX - GuardID Systems has unveiled its ID Vault two-factor authentication system for secure online access to banks, credit unions and brokerages. The company says ID Vault is the first authentication system available directly to consumers, which addresses recent findings that hardware-based two-factor authentication is more secure than password-only single-factor...

  • Special Report: IT Security

    Credit unions put their reputations on the line everyday by offering electronic services. One system breach, and the can CU incur serious damages. See the latest things CUs are doing to keep secure. Pages 22-26.

  • PSECU Introduces Latest Online Security Innovation

    HARRISBURG, Pa. - PSECU wants members to know that any e-mails they receive from PSECU are legitimate. Working with its e-mail vendor, DocuMatix, PSECU created a four-digit "unique identifier" code to appear on e-mails that are either promotional in nature or are sent as part of PSECU's "e-Alerts" service. Only...

  • TLC FCU Using Neon's New LANsurveyor

    LAFAYETTE, Calif. - Neon Software, Inc. has announced the availability of LANsurveyor version 9.5 for Windows. It is designed for network administrators to safeguard and monitor their networks by incorporating network documentation, asset management, network monitoring, and vulnerability management capabilities. According to Neon, LANsurveyor 9.5 includes better network diagrams, new...

  • American First Provides Members The Basics of Phishing

    LA HABRA, Calif. - American First Credit Union is trying to raise awareness about recent phishing scams that may impact the Orange County community. It has been informing members about phishing and exactly what it is. For instance it tells members that "phishing" is pronounced "fishing" and is a "type...

News Briefs

  • Stein, Jennings Added to NAFCU's Annual Conference Line Up

    ARLINGTON, Va.-Working with the theme "Imagine the Possibilities," NAFCU has announced informative speakers and fresh educational session topics for its 39th Annual Conference and Exhibition. The 2006 Annual Conference, slated for the Metro Toronto Convention Centre, Canada July 12-15, will feature Emmy-winning entertainer and writer Ben Stein and business leadership...

  • CUMAnet Returns $1 Million in Surplus Funds to Three Owners

    BASKING RIDGE, N.J. - After experiencing "unprecedented" growth over the past few years, the Credit Union Mortgage Alliance Network (CUMAnet) has decided it will return $1 million in surplus funds to its three owners - Affinity FCU, Greater Alliance FCU, and Proponent FCU. CUMAnet Chair Jerry D'Ambrosio said the CUSO...

  • CU Looks to Moviegoers for New Members

    ALEXANDRIA, Va. - The $123 million HEW FCU has piggybacked onto Hollywood in an effort to attract new members from the District of Columbia. The program, which got underway in 2005, has brought in between 50 - 100 new members who responded to ads they saw at some Washington area...

  • President Signs Deposit Insurance Reform into Law

    WASHINGTON-Legislation to modernize the FDIC and update its coverage limits was signed into law Feb. 8. President George W. Bush signed The Deficit Reduction Omnibus Reconciliation Act of 2005, which included the deposit insurance reform legislation, according to CUNA Legislative Affairs Manager Linda Haer. The bill allows the FDIC to...

  • Mountain America Still the No. 1 CU SBA 7(a) Lender

    WASHINGTON - Mountain America Credit Union continues to be the No.1 credit union SBA 7(a) lender in the country. The $1.5 billion CU approved 297 loans last year totaling more than $11 million, according to SBA data as of Sept. 30, 2005. Member Business Lending, LLC was launched by the...

Credit/Debit/ATM

Marketing

  • AmeriChoice Taps Olympic Spirit for Marketing Campaign

    MECHANICSBURG, Pa. - AmeriChoice Federal Credit Union is going for its own gold with a new marketing campaign. To kickoff the campaign dubbed "Gold Medal Performers", AmeriChoice has tapped 1994 Olympic Gold Medalist and AmeriChoice Member Diann Roffe to represent the credit union in newspaper, billboard, radio, and direct mail...

  • VCCU Promotion Urges Locals To "Get Fit"

    VENTURA, Calif. - While consumers here cheer their 2006 Winter Olympics favorites on local NBC-owned channels they will also get an introduction to Ventura County Credit Union. The credit union has launched a yearlong "Get Fit" campaign that plays up the idea that VCCU can help people get their finances...

  • 2005 Record Year for Redbeard Communications

    HOLLISTER, Calif. - Last year proved to be a great one for brand strategy and creative design firm Redbeard Communications. The company announced that 2005 was marked with significant growth and a record-breaking number of industry awards. Redbeard designed 32 award-winning projects in 2005, many of them on behalf of...

  • Anoka Hennepin CU Business Development Coordinator Makes 25 on Rise Cut

    COON RAPIDS, Minn. - The Hispanic Chamber of Commerce of Minnesota (HCCM) has singled out Anoka Hennepin Credit Union (AHCU) Business Development Coordinator Karina Higareda, as one of the 25 most accomplished and inspiring Hispanic Leaders under 40 years of age in Minnesota. The 25 On The Rise program through...

Special Report

  • Southland Credit Union's Downey Branch Grand Re-opening

    DOWNEY, Calif. - Southland Credit Union is welcoming members to its newly revamped Downey branch. Modernized to create a more comfortable environment, the branch remodel features are designed to highlight the credit union's brand image. The facility now includes an Internet kiosk, multiple television screens, coffee counter, lounge area, and...

  • United Heritage CU Plays up Sense of Community with Grand Opening

    CEDAR PARK, Texas -United Heritage Credit Union has kicked off the grand opening of its Cedar Park branch by hosting a Community Day Event. Over 200 Cedar Park residents and United Heritage members were on hand to enjoy the festivities. With a focus on family, the Community Day Event was...

Opinions

  • Can Technology Keep Us Secure?

    Every day we depend on technology to control our lights, record our sales transactions, and ensure our money is available when we want it. We use technology to store vital information such as birth, death, marriage and divorce records, our checking and savings account balances, and the mortgage for our...

Letters to the editor

  • Gentile is Right - Who Needs Banks Anyway?

    I really appreciated editor-in-chief Paul Gentile's Feb. 1 column entitled "Who Needs Banks Anyway?" and I have begun a review of our vendors to determine which vendors are credit union friendly. For a very long time now I have wondered if I was doing all that is possible to counteract...

  • Let's Keep the Branding Issue Alive

    I must say that editor-in-chief Paul Gentile is really helping ignite my passion for credit unions with his columns on a national branding campaign. Recently, I was in a conversation with a banking consultant who basically did not believe in the credit union movement or even care. Basically, his point...

Quotes Worth Quoting

  • Quotes Worth Quoting

    "They will at least have a bit of a learning curve...It is incumbent upon credit unions to pick up some of that slack." - Centrix EVP Geoff Bacino on the turnover of lobbyists at the two major national credit union trade associations. "One thing we've learned over the years is...

People

  • MIDWEST

    NuMark Credit Union, Joliet, Ill., has named Ed Stofko executive vice president of operations for its Countryside, Joliet and future Crest Hill branch.

  • VENDOR

    Studio 109 Designs, LLC, an architectural and engineering firm providing sole services to design/build firm PWCampbell, has named Susan Myers logistics manager. DEI Incorporated, a design/build firm, has named Tom Delaney, John Cox and Ken Fannin site managers; Bruce Ihrig project manager; Donna Schwab project estimator; and Denise Reidenbach first...

  • SOUTH

    SRP Federal Credit Union, North Augusta, S.C., has named Lee Bennington facilities manager. UT Federal Credit Union, Knoxville, Tenn., has named Lisa Rodgers vice president of finance.

  • WEST

    Point Loma Credit Union, San Diego, has named Karen Olason internal auditor. SELCO Community Credit Union, Eugene, Ore., has named Kimberly Zahr Salem branch senior business development officer. In addition the credit union has promoted Lou Panni to business development officer. Washington State Employees Credit Union, Olympia, has named Kristina...

  • EAST

    Northern Massachusetts Telephone Workers Credit Union, Lowell, has promoted the following employees: Karen Sintiris to assistant vice president; Mark Palermo to senior financial analyst; Elizabeth Cordaro to business development manager; and Kathy O'Connor to business relationship manager. In addition NMTWCU has named Judy Dodier assistant vice president of business development.

In Memoriam

Publisher's Column

  • Data Collection Issue: CUNA Gets it, NAFCU Doesn't

    It's here. After months of discussion (even years if you think back to former NCUA Board member Yolanda Wheat's Community Action Plan), the credit union industry is facing a data collection initiative by NCUA that is aimed at showing how credit unoins serve the underserved. Largely in response to the...

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