Credit Union Times Magazine January-11, 2006

In Other News

  • SCHOLARSHIPS

    Alliant Credit Union, Chicago, has awarded $5,000 in gift cards redeemable for computers to members ages 5-17 who submitted creative entries answering the questions "What Do I Want to be When I Grow Up?" and "How Can a Computer Enrich My Education?" as part of its National Education Program. The...

  • DONATIONS

    Allegacy Federal Credit Union, Greensboro, N.C., has raised $23,456 for multiple sclerosis during the Tour to Tanglewood event. The Tour is a two-day, 100-mile bike ride. Tour officials noted that this year's event was by far the most successful ever, raising more than a million dollars. A total of 36...

  • BRANCHING OUT

    American 1 Federal Credit Union, Jackson, Mich., has celebrated the opening of its Vandercook Lake branch. For each person that attended the open house, American 1 made a donation to the Jackson Friendly Home, a women's senior living facility. By the end of the night, American 1 contributed $400 to...

News

  • Security FCU Offers Members Deals on GM Vehicles

    FLINT, Mich. - Security FCU from its inception has had strong ties with Flint - it was chartered in 1949 as Flint Buick Employees FCU - and the credit union's ties with the city continues even with a community charter. The $232.8 million credit union has extended a financing program...

  • Affinity Plus FCU Enhances Auto Center

    ST. PAUL, Minn. - Members of Affinity Plus FCU who are shopping for a new vehicle now have a new channel for finding the right one to buy. Through the Affinity Plus Auto Center, the more than 126,000 members of the credit union can choose between three auto-purchasing channels -...

  • Stanford FCU Selects Teres Solutions' SAIL Software

    AUSTIN, Texas - Stanford FCU is continuing is reputation as being a pioneer in e-commerce. The $680-million, Palo Alto, Calif. credit union has offered online services to its members since 1993. Now it has selected Teres Solutions' Software Application for Integrated Lending (SAIL) solution to manage and automate its direct...

  • Maniaci Appointed VP of Sales, Operations for CU Direct's New Eastern Division

    RANCHO CUCAMONGA, Calif. - CU Direct has named Phil Maniaci as vice president of sales and operations for the CUSO's new Eastern Division. Maniaci has been with CU Direct since November 2003 working as regional director, managing the CUSO's market development in the northeastern U.S. The Eastern Division includes CU...

  • CU Direct's Northern Calif. Regional CU, Auto Dealer Partners Hit the Fairways for Shriners Hospital for Children

    RANCHO CUCAMONGA, Calif. - The Northern California Business Unit of CU Direct recently held their 4th Annual Golf Tournament for their credit union and auto dealer partners. The day-long event was held at Chardonnay Golf Course in Napa, Calif. For the second consecutive year, the golf tournament's fundraiser benefited Shriners...

  • Special Report: Auto Lending & Services

    2005 was a solid year for auto lending for the credit union industry and both credit unions and the companies they work with to provide the services benefited. Read about this and other auto lending news on pages 20-23.

  • CU Direct Connect Selects CULA as Indirect Leasing Partner

    DENVER - CU Direct Connect, a wholly-owned CUSO owned by 37 Colorado credit unions, has expanded into the leasing business and selected Credit Union Leasing of America (CULA) as its indirect leasing provider. The CUSO said the Colorado exclusive partnership "will benefit credit unions, dealers and members with a safe,...

  • Cabrillo CU Offers Hybrid Vehicle Loan Rate Discount

    SAN DIEGO - Cabrillo Credit Union is doing its part to help consumers help improve the environment. The $159 million credit union is offering its more than 20,500 members an additional 0.25% rate discount on hybrid vehicle loans. "We know consumers are concerned about the high price of gasoline, as...

  • Cornerstone Community Financial Finds Managing Indirect Lending In-House Best Way to Manage Risks

    AUBURN HILLS, Mich. - Robin Johnson is the first to admit that managing a credit union's indirect lending program in-house is not the right solution for all credit unions. But the executive vice president says it's turned out to be the best way for Cornerstone Community Financial FCU to minimize...

  • GrooveCar Hits its Stride in 2005: New CU Clients, New Dealers, High Volume

    HAUPPAUGE, N.Y. - By all assessments, 2005 was a very good year for GrooveCar. Consider the following: in a market where sales have declined as much as 50%, the privately-owned, indirect lending company processed nearly 40,000 applications valued at approximately $800 million. That compares to 15,000 applications in 2004 worth...

  • Despite Promotions, U.S. Auto Sales Remain Sluggish

    DETROIT - Although November U.S. auto sales were up from a dismal showing in October, industry analysts were still expecting the fall selling season to be down in 2005 compared to the previous year despite marketing efforts and special promotions offered by the Big 3 auto manufacturers. In mid-November after...

  • 2005 a Good Year for CU Auto Lending

    New and used auto lending continued to be a strong activity for credit unions through the third quarter 2005, as these charts from Callahan and Associates show. As of September, the dollar volume of auto loans generated by credit unions was more than in the past five years. In addition,...

  • Is Roth 401(k) Worth a Look?

    The Roth 401(k) could be a valuable new offering for credit unions to offer employees. Page 10.

  • J.D. Power: Proportion of Leases to Loans Increasing

    WESTLAKE VILLAGE, Calif. - J.D. Power and Associates last month released its 2005 Consumer Financing Satisfaction StudyT, and among the findings the study showed the proportion of leases to loans has increased for the first time in five years. According to the study data, the proportion of luxury buyers who...

  • Rocky Mountain CU Promo Benefits Hurricane Relief

    HELENA, Mont. - Rocky Mountain Credit Union donated $1,768 to the American Red Cross Hurricane Relief effort. The credit union donated a percentage of its VISA interchange income and encouraged its members to use their VISA debit and credit cards to effortlessly make a contribution to the relief effort. "We're...

  • 2006 Promises Continued Expansion and Innovation for Shared Branching

    ARLINGTON, Va. - For shared branching leaders, 2006 may be when their founding idea - that members of one credit union be able to conduct transactions at another CU's facilities - finally arrives in the CU industry mainstream. With roughly 1,700 credit unions nationwide participating in one of the three...

  • Broaddus: With NAFCU 25 Years and Still Feeling Challenged

    ARLINGTON, Va.-Susan Broaddus just celebrated 25 years at NAFCU with an all-expense paid trip to London, courtesy of the group. Broaddus, who has worked her way from secretary to editor of the trade association's Web site (www.nafcu.org) and Update newsletter, was provided an all-inclusive vacation in jolly old England in...

  • CUSO Challenge for Charity Raises Nearly 1,200 Items

    NEW BRIGHTON, Minn. and HOUSTON - In what they described as a friendly fundraiser for their local food shelves, CU Companies, a multiple-owned CUSO owned by 72 Minnesota CUs challenged Credit Union Acceptance Corp., a Houston-based CUSO owned by 60 CUs that resulted in nearly 12,000 items being collected for...

  • NASCUS on NCUA Strategic Plan: Greater Recognition of State Regulators' Roles Needed

    ARLINGTON, Va.-NASCUS called the approach of NCUA's 2006-2011 Strategic Plan "dynamic and forward thinking" but asked for further recognition of the dual chartering system. NASCUS' official comment letter, signed by Vice President of Regulatory Affairs Brian Knight, read, "Elements of NCUA's Strategic Plan 2006-2011 demonstrate a dynamic and forward thinking...

  • Michigan League Makes List of Top 50 State PACs for 2005

    NORTHVILLE, Mich. - The Michigan Credit Union League has made the list of the top 50 Michigan political action committees that raised money from January-October 2005. According to the listing compiled by the Michigan Campaign Finance Network, the Michigan Credit Union League Action Fund ranked 34th. It raised $89,340 over...

  • BSA Issue is a Top Concern for Financial Institutions in 2006; CUs Escape Fines so Far

    MINNEAPOLIS-A recent Wolters Kluwer Financial Services survey has found that Bank Secrecy Act compliance tops bank and credit unions' list of concerns heading into 2006. Of 119 banks and credit unions that responded to the survey, conducted by Bankers Systems-which changed its name to Wolters Kluwer Financial Services on Jan....

  • NAFCU: NCUA Strategic Plan Should Reflect CU Consolidation, Increasing Complexities

    ARLINGTON, Va.-NCUA's 2006-2011 Strategic Plan should better reflect the direction the credit union industry is going, according to NAFCU. NAFCU President and CEO Fred Becker wrote in an official comment letter to the agency, "The strategic plan is paramount to maintaining and enhancing the agency's role as the regulator of...

  • Canadian Credit Union Director Removed for Terrorist Connections

    SURREY, British Columbia, Canada - A director on the board of Khalsa Credit Union (KCU) has been removed for a second time for suspected terrorist activities. The Superintendent of Financial Institutions Commission (FIC) Alan Clark has issued a Summary Order that Ripudaman Singh Malik be removed based on their investigation....

  • New Roth 401(k) Plan Makes Debut; Tax-Free Withdrawals May Appeal More to Younger, Higher-Paid Employees

    MADISON, Wis. - A new retirement plan that carries the enticing appeal of tax-free withdrawals made its debut with the new year. On Jan. 1, some employers began offering the new Roth 401(k) plan to employees. The main selling point is taxes are paid on contributions to the plan but...

  • NCUA Spells Out `Fleet' Definition in MBL Rule

    ALEXANDRIA, Va. - The number of vehicles that constitutes a fleet was recently clarified by NCUA. In a Dec. 8 opinion letter, NCUA said a fleet will cover two or more vehicles used in a business if the business, itself, is transportation, but the meaning of "fleet" may also include...

  • North Dakota and South Dakota Credit Union Leagues to Combine

    BISMARK, N.D. -In a move underscoring the shrinking credit union population in rural America, the North Dakota and South Dakota Credit Union Leagues are finally proceeding with consolidation of the two trade groups. The consolidation could take effect this spring following the hiring of a new CEO to run the...

  • Private Insurer Handles CU Market Consolidation with a Keen Eye on the Numbers

    DUBLIN, Ohio-Everywhere, companies are looking to do things cheaper and faster. Credit unions are no exception as evidenced by the hundreds of mergers each year, most to offer a broader range of better services for less outlay of funds. Credit union vendors are feeling this strain of consolidation and compensating...

  • SBA Under Fire Again, this Time for Post-9/11 Pilot Program; Only Handful of CUs Participated

    WASHINGTON - As a SBA pilot loan program enacted to help small businesses impacted by the Sept. 11 terrorist attacks comes under fire for sloppy documentation, of the 7,086 lenders that participated, only four credit unions were involved and all of their loans have either been paid off or remain...

  • `Que Ganga!' Spanish Language Radio is a Bargain for California Agribusiness CU

    BUENA PARK, Calif. - California Agribusiness Credit Union is currently running its first radio advertising campaign, having purchased 260 60-second spots that will run for 13 weeks. That's hardly news, except for two important things: Cal Ag is only a $22 million credit union, and the radio station is Spanish...

  • Moratorium Imposed on Adoption of Underserved Areas for Non-Multiple Group CUs

    SALT LAKE CITY-NCUA announced Dec. 30 that it has imposed a moratorium on America First Federal Credit Union's service to its previously approved underserved areas, as well as all non-multiple group credit unions adopting underserved areas. America First can continue to serve any current members from those areas but not...

  • Member Business Lending Activity Gains Ground but Still Not a Staple for Most CUs

    WASHINGTON - The data for business lending at credit unions may be a bit skewed when compared to activity at other financial institutions because the latter is likely doing much more in this area. Commercial loans and deposits do indeed represent a larger proportion of competitors' business, according to Callahan...

  • Dallas Fed Processing Glitches Impacting Southwest Corporate and Oklahoma CUs

    DALLAS - There have been some major item processing issues at the Dallas Fed according to credit union and banking organizations. Southwest Corporate, which processes for Oklahoma credit unions, said things started going wrong around Dec. 9. Problems include late notification of cash letter credits, misdirected cash letters and other...

  • Federal Law Enforcement Agencies Still Worry About Prepaid Cards, Actual Criminal Practices Cited

    WASHINGTON - Prepaid cards, including gift cards, have become the hit of the 2005 holiday season, popular with issuers, consumers and retailers alike. But even as the market for the cards continues to grow, federal law enforcement officials have continued to raise concerns about the implications some of the cards...

  • Financial Institutions in `Driver Seat' for Investment Trends in 2006, Cutting Costs Still Paramount in Many Areas

    BOSTON - Even though financial institutions are demanding more for investment accountability, transparency, and service, they may not be willing to pay more than they already do for them. That's according to a just-released report from Aite Group, an independent research and advisory firm, on the top 10 trends in...

  • Maryland & D.C. CU Association Asks CUs to "Get the Difference and Be the Difference"

    COLUMBIA, Md. - The Maryland and D.C. Credit Union Association is getting ready to launch its 2006 cooperative advertising campaign, which takes its 2005 campaign "Get the Difference" a step further by telling credit unions to also "Be the Difference" for their members. As it did in last year's campaign,...

  • Coalition for Credit Union Charter Options Will Seek to Broaden Charter Conversion Debate

    WASHINGTON - The Coalition For Credit Union Charter Options will try to broaden the debate over credit unions changing their charters to mutual banks by seeking help from "free enterprise-oriented think tanks," the coalition announced in a Jan. 4 press release. "To serve as a reality check on the anti-conversion...

  • ATM Zone in Oklahoma Sold to CUSC Unit

    OKLAHOMA CITY - The ATM Zone, an Oklahoma City network, started four years ago by area credit unions to handle surcharge-free transactions, has been sold to a CUSO linked to Atlanta-based Credit Union Services Corp. "Our board felt we had already achieved success with the ATM Zone and continuing on...

  • BSA Efforts Getting Results

    WASHINGTON-Figures released by the Financial Crimes Enforcement Network (FinCEN) last month demonstrate that the communication between law enforcement and financial institutions are netting results. According to FinCEN, the 314(a) system-so named for the section of the USA PATRIOT Act, which regulates information sharing between law enforcement and financial institutions-has processed...

  • CDCUs Present at Bloomberg Inaugural

    NEW YORK - Community Development Credit Unions were represented at New York Mayor Michael Bloomberg's Jan. 1 inauguration. Cliff Rosenthal, executive director of the National Federation of Community Development Credit Unions, attended the event as an invited member of the New York City Consumer Council. Rosenthal praised the cooperation New...

  • Visa Changing Logo For First Time In 30 Years

    SAN FRANCISCO - Visa USA announced that it is changing its familiar blue, white and gold Visa logo for the first time in 30 years. The new logo "is designed to better reflect the broad range of electronic payment products provided by Visa's Member financial institutions and the ever expanding...

  • Bankers Systems and Four Other Providers Part of New Wolters Kluwer Brand

    MINNEAPOLIS - Wolters Kluwer has brought five prominent financial service providers under its umbrella brand to form Wolters Kluwer Financial Services. Effective Jan. 3, the following businesses will go to market with the new brand name: Bankers Systems, Atchley Systems, VMP Mortgage Solutions, CCH Wall Street, and GainsKeeper. Customers will...

  • Educators Health Plans, CUNA Mutual Partner to Bring Benefits to Utah CUs Benefits

    SALT LAKE CITY - Employees at 25 Utah credit unions will soon receive their benefits from Educators Health Plans, a subsidiary of Educators Mutual Insurance Association. The firm said it has partnered with CUNA Mutual Group to provide benefits to approximately 500 employees at 25 Utah credit unions. EHP will...

  • Iowa's Movie-Making Appeal Could Mean Big Business for Credit Union Lending

    DES MOINES, Iowa - Iowa's credit unions could see a new business lending window open up as the state continues its reputation for attracting big budget films. Iowa Rep. Bob Kressig (D-Cedar Falls) and a director at $1 billion Veridian Credit Union, reports that the state's film industry was touted...

  • Southwest Corporate's Branch Capture Taking Off

    PLANO, Texas - Southwest Corporate reported that it has connected 100 credit union branches to its Branch Capture service. The 100 branches are spread among 39 credit unions stretching from Florida to New Mexico. The corporate has only been offering Branch Capture for nine months. Participating credit unions can scan...

  • Non-Multiple Common Bond CUs May Need Legislative Change to Continue Adding Underserved Areas, NCUA Says

    ALEXANDRIA, Va.-Though not admitting defeat and emphasizing the need to review its field of membership regulation first, NCUA appears to be saying legislative clarification may be necessary. NCUA Director of External Affairs Nicholas Owens would not directly say whether the agency found the law to be on its side or...

  • MidWest Financial Gives to Hurricane Relief Effort

    ANN ARBOR, Mich. - MidWest Financial Credit Union and UMHS Financial have donated $1,270 to the Michigan Credit Union Foundation. Funds collected by the Michigan Credit Union Foundation from credit unions statewide will be split between the American Red Cross for humanitarian aid and the World Council of Credit Unions...

  • For GFA FCU Hurricane Relief Takes Many Forms

    GARDNER, Mass. - GFA Federal Credit Union has taken a leading role in the community to help the Red Cross in collecting both items and funds for the victims of Hurricane Katrina. "The Red Cross was only able to accept cash donations due to the logistical problems of transportation. But...

  • CUNA, Ohio League Form Unique Partnership to Educate, Train CUs

    MADISON, Wis. - CUNA and the Ohio Credit Union League have formed what they say is the first of its kind partnership that will provide Ohio's credit unions access to enhanced educational programming and resources. Through the agreement which was signed Dec. 14 during CUNA's Board meeting in Washington D.C....

  • Treasury, IRS Finalize Rules Regarding Roth 401(k) Contributions

    5WASHINGTON - On Dec. 30, 2005, the Treasury Department and the IRS issued final regulations regarding sections 401(k) related to designated Roth contributions. Designated Roth contributions allow for employees to designate all or a portion of their section 401(k) employee deferrals as Roth contributions, which would receive treatment much like...

  • CUNA Empathetic to SBA Wanting Sound Requirements for GO Loan Program

    WASHINGTON - CUNA understands that the timing may not be right to press SBA on providing more clarification on how credit unions can participate in the agency's GO Loan hurricane relief program SBA launched GO Loans in early November 2005 to help get quick capital to small businesses in hurricane-stricken...

  • Extension Granted for NCUA Response in Members 1st Lawsuit

    MECHANICSBURG, Pa.-The court has granted NCUA an extension to respond to the American Bankers Association lawsuit challenging a community charter the agency approved for Members 1st Federal Credit Union. The filing deadline in the Pennsylvania case was extended through Feb. 6 and a conference on the case is set for...

  • Aberdeen Proving Ground FCU Kicks off 2006 with SBA Loans

    ABERDEEN, Md. - Members from all walks of life will now be able to apply for SBA loans with Aberdeen Proving Ground FCU. The $557 million credit union recently announced that it will provide the loans which will range from $25,000 to $2 million. The lending program is supported by...

  • CU Card Innovator Changing its Name

    BIDDEFORD, Me. - The $105 million St. Josephs Credit Union, one of the first CUs in the nation to start offering completely fee-free credit cards, will be changing its name on Feb. 1 to PeoplesChoice Credit Union. The 42-year-old credit union was originally chartered to serve the parishioners of St....

  • Meridian Credit Union Hosts Local Business Coffee Talks

    ST. LOUIS - To get a feel for what area businesses have to offer, Meridian Credit Union's two-year old networking group has become an outlet for the locals here. The Business Networking Coffee Club, which meets every second Tuesday of the month at the $119 million credit union, provides a...

  • Meeting Calendar is Set

    ALEXANDRIA, Va.-As 2006 swings into action, so does the NCUA Board's calendar. The agency's next board meeting will be Jan. 19 and is generally the third or fourth Thursday of the month. As is tradition, however, there will be no NCUA Board meeting in August as all of Washington, D.C....

  • Damage in New Orleans Forces NACCU to Relocate Annual Conference

    WASHINGTON-The National Association of Community Credit Unions (NACCU) has announced that it will be relocating its annual conference due to the hurricane and flood damage in New Orleans. NACCU originally had planned on holding its 2006 Annual Conference at the Wyndham Canal Place in New Orleans but decided to move...

  • Pennsylvania Credit Union Foundation Reaches Milestone, Awards $1 Million in Grants

    HARRISBURG, Pa. - The Pennsylvania Credit Union Foundation, the philanthropic arm of the Pennsylvania Credit Union Association and the state's credit unions reached the $1 million milestone in grant distributions. This is the first time the foundation has hit this mark since its founding nearly 10 years ago. Since its...

  • John Smith Returns to Kansas as State Credit Union Administrator

    TOPEKA, Kan. - John Smith has returned to the position at the Kansas Department of Credit Unions he previously held from 1993 to 1998. Smith, who served as director of the Missouri Division of Credit Unions from 1999 to April 1, 2005, has been chosen by Kansas Gov. Kathleen Sebelius...

  • NCUA Board Members Go Ho, Ho, Home for the Holidays

    ALEXANDRIA, Va.-Whether it was baking or spending time with family, the three members of the NCUA Board were as busy as the rest of us at the holidays. Here's a glimpsed into how they celebrated the season.

  • Bank of America, MBNA Seal the Deal

    RALEIGH, N.C. - MNBA, the leading monoline card issuer in the country, and Bank of America have completed their merger. As of Jan. 1 2006, MBNA went from being an independent company to being Bank of America's card arm. Executives from each company continue tying up the deal's loose ends...

  • NAFCU Gets Back to W&M Committee Members on Hearing Questions

    WASHINGTON-NAFCU individually responded to concerns raised by House Ways and Means Committee members during the Nov. 3 hearing on the credit union tax-exemption. NAFCU sent letters to Representatives Xavier Becerra (D-Calif.), David Camp (R-Mich.), Melissa Hart (R-Pa.), Nancy Johnson (R-Conn.), Jim McCrery (R-La.), Clay Shaw (R-Fla.), and John Tanner (D-Tenn.)...

  • Columbia Credit Union 28-Year Member Wins 2006 Hybrid SUV

    VANCOUVER, Wash. - Talk about a great way to end 2005! In a conclusion to its yearlong Hybrid campaign, Columbia Credit Union turned over the keys to a 2006 Hybrid SUV to Judy Halsted who was the lucky winner. Launched earlier in the year, the campaign was designed to promote...

News Briefs

  • OnPoint Community CU is Here

    PORTLAND, Ore.- It's official. Portland Teachers Credit Union is now OnPoint Community Credit Union. "The new name represents a bright future for our credit union, which at $2 billion in assets is Oregon's largest," said OnPoint Community CU CEO Cliff Dias. "OnPoint Community Credit Union's new 10-county charter will allow...

  • IRS Names Lerner Director of Exempt Organizations

    WASHINGTON-The IRS has named Lois G. Lerner its new director of its Exempt Organizations Division. "Protecting the integrity of tax-exempt organizations is an important part of our enforcement program," IRS Commissioner Mark W. Everson said. "Lois's background, including her work for the Federal Election Commission, qualifies her for this new...

  • CEFCU Offers HSAs

    PEORIA, Ill. - CEFCU has kicked off the new year by offering its members Health Savings Accounts (HSAs). The CEFCU HSA will offer members a separate account, statement, checks, and a dedicated ATM card. "With soaring health care costs, this is a great way for individuals to prepare for out...

  • Chocolate Lures New Members to South Western FCU

    LA HABRA, Calif. - The appeal of chocolate is paying off for South Western Federal Credit Union. The $164 million credit union is in the midst of its "Membership is like a box of chocolates" campaign. Members that refer potential new members to the credit union receive a free pound...

  • CUNA Announces Koppel as GAC Speaker

    WASHINGTON-Ted Koppel, former anchor of Nightline, has joined the list of speakers to address CUNA's Governmental Affairs Conference. Koppel, who recently retired from his anchor job, is a 42-year veteran of ABC news and has won every major broadcasting award, including 37 Emmys, six George Foster Peabody Awards, 10 duPont-Columbia...

  • CORRECTIONS

    A caption for a photo that ran on page 35 of the Jan. 4 issue incorrectly identified Tom Pisapia, executive vice president of the new Greystone Residential Funding as Tim. We regret the error.

  • William Neutzie, Credit Union Activist, Dies

    COLUMBUS, Ohio - William Neutzie, who spent his entire working life with credit unions both on the state regulatory side, as well as with the Ohio Credit Union League, American Share Insurance and also as CEO of Salt River FCU in Arizona, died Dec. 30. He was 71. Neutzie became...

  • U.S. New Mexico FCU Woos Former CEO Back to Serve Again

    ALBUQUERQUE, N.M. - James Raquet, who served as president/CEO of U.S. New Mexico Federal Credit Union from December 1999 to May 2003, has returned to take over the helm again. Raquet returned to the $457 million credit union on Dec. 12, 2005 after serving as president/CEO of $263 million Del...

Marketing

  • Envision CU Teams Up to Help Residents Get Ahead

    TALLAHASEE, Fla. - Envision Credit Union is hoping to give financial literacy a boost with the Get Ahead Partnership. According to Envision CU President/CEO Ray E. Cromer Jr., the Get Ahead Partnership is designed to close the gap in what people know about money. "When it comes to money management,...

  • Creative Gold Award Winner

    TEMPE, Ariz. - LemmonTree Enterprises, Inc. has walked away with the 2005 MarCom Creative Gold Award in the Creativity/Design/Logo category for its creation and design of the Michigan First Credit Union MoneyKids logo. The MarCom Creative Awards is an international awards competition that recognizes outstanding achievement by marketing and communication...

  • Desert Schools Winner Ready for Super Bowl

    PHOENIX - Lucky Desert Schools Federal Credit Union member Paul Shanahan is headed to the Super Bowl in Detroit. Shanahan was part of a group of contestants who were blind-folded and stumbling on the field during a football game, guided only by the voice and direction of their selected partner...

  • Advance Financial 7-11 Promo a Hit

    SCHERERVILLE, Ind. - Luck had nothing to do with a recent Advance Financial Federal Credit Union (AFFCU) 7-11 Certificate of Deposit Promotion. Working with a minimal promotional budget and its marketing communications agency Heisler Gordon & Associates, the credit union exceeded its goals. "Like all credit unions, we are challenged...

  • Truliant Names Jennings Agency-of-Record

    WINSTON SALEM, N.C. - Truliant Federal Credit Union has tapped Chapel Hill marketing and branding firm Jennings as its agency-of-record. Jennings, a full-service marketing communications agency, will provide integrated branding for Truliant, including research and marketing, advertising, public relations and Web site refinement. "The main reason we selected Jennings is...

People

  • WEST

    Western Rockies Federal Credit Union, Grand Junction, Colo., has promoted Kristi Porter to vice president and Diane Razee to Rifle branch manager. In addition Western Rockies FCU Vice President of Lending Cindy Seery will add North Avenue branch manager to her title. Nevada Federal Credit Union, Las Vegas, has named...

  • EAST

    Vermont Federal Credit Union, Burlington, has named Howard Mann chief financial officer. In addition, Vermont FCU has promoted Chris Sargent to St. Albans branch manager. Citadel Federal Credit Union, Thorndale, Pa., has named Ed Donovan director of retail delivery. AmeriChoice Federal Credit Union, Mechanicsburg, Pa., President/CEO Kipp Stecher has been...

  • SOUTH

    Jax Federal Credit Union, Jacksonville, Fla., has named Jan Ward vice president, human resources. Carolina Trust Federal Credit Union, Myrtle Beach, S.C., has named Tonya Haun senior vice president/chief operations officer. Alabama Telco Credit Union, Birmingham, Homewood Branch Manager Susie Smith has retired after devoting 35 years to the financial...

  • MIDWEST

    Catholic Federal Credit Union, Saginaw, Mich., has named Bridget A. Looby-Larson vice president of business development. Wauna Federal Credit Union, Clatskanie, Ohio, has named John Basco collections services director. CEFCU, Peoria, Ill., Chief Operating Officer Karen Webster has retired after 32 years of dedicated service to the credit union. CEFCU...

Tech Bytes

Opinion

Letters to the editor

  • Sorry Dale, Couldn't Resist Weighing In!

    I read with great interest the letter to the editor from Dale Kerslake, President/CEO of Cascade FCU in the Dec. 14 issue titled "If Credit Unions Can't Do It Themselves, Congress May have to Police the Industry", and couldn't resist weighing in. This article offends me, particularly the opening remark...

  • DFCU Financial is "Spinning" Like a Top

    I have just finished reading the latest in a series of Credit Union Times' articles about the decision of DFCU Financial's Board of Directors to recommend to their members that it be converted to a mutual savings bank. Wow, what spin! These pro-conversion folks are amazing. They can spin just...

  • Do Banks Really Think Grass is Greener on CU Side?

    The community bankers who want credit unions taxed say they seek a level playing field because credit unions are so bank-like in the services they offer. These complaining banks typically are organized as S-Corporations and pay taxes the same as credit unions. If it is so advantageous to be a...

  • Letters to the Editor

    Submission by e-mail is preferred. Send to editor@cutimes.com, or mail to Paul Gentile, 1 Lexington Court, Holmdel, NJ 07733

Publisher's Column

Looking Back

  • CREDIT UNION TIMES Vol. 9, No. 2 January 14, 1998

    Looking back eight years ago finds U.S. Rep. Paul Kanjorski (D-Pa.) warning against a financial industry "owned" by banks and encouraging credit unions to make an even bigger impact on working Americans. "Credit unions have been successful not because they have been great marketers -and not because they have been...

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