Credit Union Times Magazine July-05, 2006
News
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Hughes FCU Marketing VP Takes RC Robertson Political Advocate of the Year Honors
PHOENIX - The Arizona Credit Union League has named Hughes Federal Credit Union Vice President of Marketing Kellie Terhune-Neely the 2006 RC Robertson Political Advocate of the Year.
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FSCC Working on Remote Deposit Pilot
LAS VEGAS-With credit unions looking for economical ways to service small business accounts, Financial Service Centers Cooperative said it has a remote deposit pilot underway for a rollout in six months. In remarks at FSCC's annual conference here, Sarah Canepa Bang, CEO of the shared branch organization, said work is...
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Sunmark FCU, Schenectady Municipal Housing Authority Create Financial Literacy Opportunities for Area Residents
SCHENECTADY, N.Y. - Sunmark Federal Credit Union and the Schenectady Municipal Housing Authority have helped some 29 area residents build their financial literacy portfolio.
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HS Students Get Dose of Financial `Reality' at Oxford FCU's `C Ur Financial Future' Event
MEXICO, Maine - Oxford Federal Credit Union gave nearly 200 Oxford Hills Comprehensive High School seniors some "real world" experience during its first C Ur Financial Future money management event at their school.
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Special Report: Retail Delivery Systems/Marketing
The newsletter lives! The once stodgy communications vehicle has become a showcase piece for many credit unions. Read about that and more in the special report on pages 22-24
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Scott CU Names New Marketing VP
COLLINSVILLE, Ill. - Scott Credit Union has named Adam Koishor vice president of marketing.
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MSU FCU Gears Up for Room Makeover
EAST LANSING, Mich. - Michigan State University Federal Credit Union and Channel 6 (WLNS-TV) are giving area residents the chance to win an "Ideal Room Makeover."
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CUNA Mutual Service Shakeup Bringing Call Center Cuts
LAS VEGAS - As part of its ongoing shakeup in customer service, CUNA Mutual Group intends to reduce the number of national call centers from 38 down to an undetermined level based on new operating procedures, according to CUNA Mutual President/CEO Jeff Post.
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Blame it on Glitz or Substance, But Record Turnout for CMG
LAS VEGAS - It was hard to tell whether it was plain Las Vegas glitz at a fancy new hotel that brought out a record turnout of 1,200 to CUNA Mutual Group's annual Discovery Conference last week.
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Coalition Moving Ahead on Card Fraud, Says Post
LAS VEGAS - Pledging once again to keep card coverage intact despite growing losses, the head of CUNA Mutual Group vowed last week to press his case against Visa and Mastercard to tighten tech standards warning anew of possible legislation in Congress to force the issue.
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Sharon CU Promotes Savings in Elementary School
SHARON, Mass. - Forget the ice-cream truck, for The Heights Elementary School it isn't officially summer until Sharon Credit Union's "Smart Saver" mascot Frugal Freddie stops by with ice cream in hand. Frugal Freddie's ice cream celebration is designed to mark another successful year of the credit union's "Savings Makes...
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`Adopt a Kiosk' Debuts as Disaster Tool
LAS VEGAS-Taking a leaf from CUNA's "Adopt a Credit Union" program on Katrina, Financial Service Centers Cooperative is debuting "Adopt a Shared Branch Kiosk." As a token but still noteworthy gesture of disaster preparedness, FSCC began signing up CUs last week to purchase kiosks for conventional use or to be...
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Chartway FCU Wins Marketing Accolades
VIRGINIA BEACH, Va. - For its first year of competing with the largest credit unions in the country, Chartway Federal Credit Union has made an impressive debut by winning six marketing awards in the 2006 Diamond Awards Competition presented by CUNA. Chartway received top honors in the categories of Business/SEG...
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Citing Gains, FSCC Digs Competitors
LAS VEGAS-Proud of recent growth, the management of California-based Financial Service Centers Co-op Inc., did lots of crowing this year-four million monthly transactions, $118 billion in assets and 13 million members-and in the process took time out to needle its shared branch competitors. In remarks opening FSCC's 15th annual meeting...
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United Heritage CU Gets Adventurous with New Promotion
AUSTIN, Texas - United Heritage Credit Union's recent member promotions are designed to appeal to members' inner adventurer. With a promo touting "all terrain. all lifestyles. all yours.," UHCU is giving away a 2007 Chevy Tahoe to one lucky winner. Here is how it works. The more products and services...
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Discover Discovery
For those who couldn't make it to CUNA Mutual's well-attended Discovery Conference, coverage can be found on pages 4, 26 and 27.
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FSCC Call Center Sees Record Volume in May
AUBURN HILLS, Mich. and SAN DIMAS, Calif.-A record 105,745 transactions were completed through the Financial Service Centers Cooperative, Inc. Custom Call Center Outlet during May. This is the highest total ever for an FSCC outlet, said Sarah Canepa Bang, CEO of FSCC. "Members want to be able to access their...
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Altura CU Booth an Orange Blossom Festival Hit
RIVERSIDE, Calif. - The Orange Blossom Festival's 150,000 attendees couldn't miss Altura Credit Union. Not only was the credit union an event sponsor of the 12th annual event, but also provided cash counter machines and tellers to handle the large amounts of cash generated at such a public event. In...
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The Newsletter Evolution-A True Communications Heavy Hitter
EDINA, Minn. - Credit unions should never underestimate the power of their newsletters. According to Jim Larranaga, president of custom publisher Priority Publications, rather than going the way of the dinosaur-the newsletter has adapted, is thriving and can be one of the most effective communication tools in the credit union's...
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Apple FCU Student Credit Union Program Declared Visionary
FAIRFAX, Va. - Apple Federal Credit Union has been presented the Virginia Credit Union League Visionary Award for its overall progressive approach to its in-school Student-Run Credit Union program.
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Credit Card Delinquencies on the Rise, ABA Finds
WASHINGTON - Delinquencies improved across most consumer loan categories except credit cards and home equity loans, the American Bankers Association's Consumer Credit Delinquency Bulletin reported.
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Robins FCU's New `Affordable First'
WARNER ROBINS, Ga. - The more than 126,000 members of Robins FCU that want to finance their home purchase through a mortgage from the credit union now have a new option to make the process more affordable.
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Two Payday Models Show Progress; Wisconsin Effort Has Saved Users More Than $100,000
LAS VEGAS - Two innovative credit union models to counter payday lending, one in Ohio and the other in Wisconsin, are showing volume growth while also drawing favorable public attention.
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VCUL Endorses Allen for Senate; Next Stop, Allen for Prez?
WASHINGTON - In a ceremony held at Credit Union House on Capitol Hill, the Virginia Credit Union League announced that it was endorsing the re-election of Senator George Allen (R-Va.).
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Three Florida CU Select Lending Solutions
ELGIN, Ill. - Lending Solutions Inc., a provider of lending center services and consulting programs for financial institutions, can now count Miramar-based Eastern Financial Florida Credit Union, Gainsville-based Florida Credit Union and Brandon-based MacDill Federal Credit Union among its Florida clientele.
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NAFCU Services Corp. Names New President
ARLINGTON, Va.-NAFCU Services Corporation announced last week that David C. Frankil will serve as the new president of the organization beginning July 6.
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FASB Merger Accounting Change Put Off Again
WASHINGTON - At a recent meeting, the Financial Accounting Standards Board said it would not make any final changes on merger accounting for mutual entities effective until 2008.
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ING Makes Term Life Insurance `Instant'
MINNEAPOLIS - ING has unveiled ING Instant Term to make it easier for low- and middle-income customers to buy life insurance.
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CU Trades Continue `Knock It Off' Ads
WASHINGTON - CUNA and NAFCU are continuing with their joint ad campaign on Capitol Hill telling the bankers to "Knock It Off." In their latest round of advertising to hit Washington, D.C., CUNA and NAFCU open up their newspaper ad that ran in Roll Call, Congressional Quarterly, and CQ Daily...
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Freddie Mac Adjusts Loan Prospector to Help Low- and Moderate-Income Borrowers
McLEAN, Va. - Freddie Mac has changed its Loan Prospector automated underwriting service and is upgrading its Home Possible suite of affordable mortgage products to help more low- and moderate-income borrowers qualify for mortgages that are eligible for purchase by Freddie Mac on the secondary market.
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CUcorp, AAA Michigan Partnership Continues To Progress for Their Mutual Benefit
NORTHVILLE TOWNSHIP, Mich. - Five months after CUcorp, the wholly-owned subsidiary of the Michigan Credit Union League, and AAA Michigan announced their long-term, joint marketing agreement to provide members of both organizations with exclusive products and services, the two partners are satisfied their partnership is moving in the desired direction....
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CUNA Opposes Elimination of Thrift Biz Lending Cap; Bankers Say Actions Threaten Entire Bill
WASHINGTON - CUNA's first attempt to block a legislative effort of their for-profit brethren has raised the ire of the bankers considerably.
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Jones to Succeed Hoerauf at Oregon Community CU
EUGENE, Ore. - Not all big credit union CEO jobs are going to former bankers.
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NAFCU `Whole-Heartedly' Approves of Senate Data Security Bill; CUNA Portrays Reservations
WASHINGTON - The House got what it had been waiting on last week regarding data security legislation: a companion bill in the Senate.
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Corporates Storm the White House
A contingent from the Association of Corporate Credit Unions recently spent a day at the White House. The group had two meetings with White House staff, and a tour of the White House. One staffer reinforced President Bush's commitment to maintaining the tax-exemption. Pictured from left is Rhonda Whitley, ACCU's...
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A Candid Post Describes Officer Cutbacks, `Turning Around a Battleship'
LAS VEGAS - As he has for months relishing his tell-like-it-is-role managing CUNA Mutual Group, Jeff Post, its president/CEO, provided credit union executives fresh insight on his 18-month stewardship detailing cost-cutting moves to hack officer ranks as well as eliminating a "country club" work ethic in the 5,500 employee firm.
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Andrews FCU Aims to Bridge Digital Divide for School Children
SUITLAND, Md.-In an effort to bridge the digital divide for school children from moderate income households without access to computers, Andrews Federal Credit Union has formed an alliance to close the gap.
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New Logo for Massachusetts CUL
ORLANDO, Fla. - The Massachusetts Credit Union League has revamped its logo.
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Greylock FCU Approved as MassHousing Lender
PITTSFIELD, Mass. - Greylock FCU, the second largest financial institution in Berkshire County, has joined the network of MassHousing approved lenders. This means the $848 million credit union is able to offer the full range of MassHousing's affordable home loan programs and mortgage insurance products to low- and moderate-income consumers...
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NAFCU Congressional Caucus Speaker List Developing
WASHINGTON - NAFCU has scheduled several key government leaders to address the organization's Congressional Caucus taking place September 17-20 at Washington, D.C.'s Grand Hyatt.
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Pemco, CardEx to Offer Gift Cards
SEATTLE and IRVINE, Calif. - Pemco Technologies, a payment solutions provider of innovative payment solutions, and prepaid debit card processing and services firm Card Express, Inc. have teamed up to issue gift cards. As part of the partnership, Pemco clients will be able to offer their cardholders customized, prepaid debit...
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Five CUs Named to 50 Best Small & Medium Companies to Work For List
WEST PALM BEACH, Fla. - Select credit unions have been honored on the list of 50 Best Small & Medium Companies to Work for in America by the Great Place to Work Institute and the Society for Human Resource Management. According to GPTW Cofounder Robert Levering, the companies selected stand...
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NuUnion First Michigan CU to Join Business Capital Access Program
LANSING, Mich. - It might be new territory for NuUnion Credit Union, but the long-term impact for Michigan's economy, which has been in the doldrums lately, could see a revival thanks to a network of financial institutions and the re-launch of a 20-year old program.
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Cornerstone Advisors Taps CU Advisory Board for Benchmark Survey
SCOTTSDALE Ariz. - Cornerstone Advisors has turned to some 20 credit unions to help with its inaugural edition of The Cornerstone Report 2006: Benchmarks and Best Practices for Credit Unions.
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Newtek Continues to Beef up Accounting Team
NEW YORK - Newtek Business Services, Inc., a provider of business services and financial products to the small business market, has hired three more persons to its accounting and finance department.
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Manzullo Says 7(a) Loan Program `Ain't Broke,' Votes Against Congressional Funding
WASHINGTON - Saying the Small Business Administration's 7(a) loan program is "operating on full cylinders," House Small Business Committee Chairman Don Manzullo (R-Ill.) voted June 27 against legislation that would do away with its zero subsidy.
In Other News
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DONATIONS
Saugus Federal Credit Union, Saugus, Mass., recently donated $2,200 to the Credit Union of Massachusetts Kids at Heart program, a program coordinated through the Eastern Corporate Federal Credit Union. Over the past 10 years, SFCU and other participants in the Kids at Heart program have raised approximately $2 million for...
News Briefs
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Michigan League Alliance Partners CUs with Equifax's Small Biz Data
NORTHVILLE TOWNSHIP, Mich. - Credit unions in Michigan will soon have another resource to turn to for access to small business owner credit history.
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Enterprise Donates $50,000 to National Credit Union Foundation
ORLANDO, Fla. - Enterprise Car Sales has become an official corporate sponsor of the National Credit Union Foundation. With a $50,000 donation, Enterprise has joined the Foundation's Chairman's Club. Enterprise Car Sales National Marketing Manager Brooke Gilchrist (second from right) presented the $50,000 check to NCUF Chairman Mary Cunningham (second...
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Federation Encouraged About Prospects for State CDFI Fund
ALBANY, N.Y. - After more than a decade the New York State Legislature is on the verge of approving a state fund for community development financial institutions, according to the National Federation of Community Development Credit Unions. Ironically, however, neither bill in the two houses of the state assembly includes...
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Gee Reappointed Director Idaho Department of Finance
BOISE, Idaho - Gavin Gee, director of the Idaho Department of Finance, was reappointed by Gov. Jim Risch to continue serving as the agency head. Gee began his career with the agency in 1977 as an examiner. He was appointed acting director in 1995 and later as director. Gee is...
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House Passes Seasoned Customers CTR Exemptions Legislation
WASHINGTON - The House last week approved legislation to exempt financial institutions from filing currency transaction reports for "seasoned customers." Under a suspension of the rules, the House unanimously passed the Seasoned Customer CTR Exemption Act of 2006 (H.R. 5341) sponsored by Financial Institutions and Consumer Credit Subcommittee Chairman Spencer...
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Patelco's Hunter Wins FSCC Callahan Award
SAN DIMAS, Calif. - Andy Hunter, president/CEO of Patelco Credit Union in San Francisco, has been named the 2006 Callahan Award winner by Financial Service Centers Cooperative Inc. Hunter received the honor during FSCC's annual meeting in Las Vegas June 21. (See related coverage on page 18.) The Callahan award...
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NASCUS' Fortney Elected VP of Board of Women in Housing and Finance
ARLINGTON, Va. - Mary Martha Fortney, president/CEO of NASCUS, was elected to a two-year term as vice president of the Women in Housing and Finance Board, beginning June 20. Established in 1979, WHF is an association of women and men who actively promote women in the fields of financial services...
Regulatory/Compliance
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Rethink FHLB Dividends Proposal, CUNA-NAFCU Ask FHFB
WASHINGTON - In a joint letter to the Federal Housing Finance Board, CUNA and NAFCU asked the board to reconsider a notice of proposed rulemaking that could make it less likely for Federal Home Loan Bank members to receive dividends.
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Hood Participates in Roundtable of Community Credit Unions Dedicated to Serving the Underserved
NEW YORK-Just days after he voted against a rule curbing community credit unions' ability to adopt underserved areas, NCUA Vice Chairman Rodney Hood participated in a roundtable meeting on community chartered credit unions reaching out to the underserved. The roundtable coincided with the 20th Annual Meeting of Lower East Side...
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SBA Honors Mountain America CU for Small Biz Commitment
WEST JORDAN, Utah - For its efforts in helping nearly 300 small businesses last year, Mountain America Credit Union was recently honored by the Small Business Administration.
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NAFCU Supports Collection of Information in Commercial Solicitations on Military Bases
ARLINGTON, Va.-NAFCU wrote the Office of Management and Budget in favor of the Department of Defense's request for comment on an information collection request concerning commercial solicitations on military bases.
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Bair Sworn In at FDIC
WASHINGTON-Former Treasury official Sheila Bair was sworn in last week as the 19th chairman of the FDIC.
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Community One FCU Earns SBA's Freedom Award
LAS VEGAS - For its support of small businesses in Nevada, Community One Federal Credit Union was recently honored by the Small Business Administration with its Freedom Award.
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NCUA Vice Chairman Addresses RICUL Annual Meeting
BRISTOL, R.I. - NCUA Vice Chairman Rodney Hood tackled the tough issue of home financing as the featured speaker during the Rhode Island Credit Union League's 72nd Annual Meeting last week.
Tech Bytes
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West Virginia Corporate is Latest to Partner with Mid-States CUSO for Bill Pay
MIDDLETOWN, Pa. - West Virginia Corporate Credit Union has partnered with MY CU Services, LLC, a wholly owned subsidiary of Mid-Atlantic Corporate, to offer bill pay to its members. West Virginia Corporate will market bill pay to its member credit unions. Credit unions that sign up for the service will...
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Open Solutions Signs Barbados Credit Union
GLASTONBURY, Conn. - Open Solutions Inc. has branched into the Caribbean credit union market with the signing of the $109 million City of Bridgetown Co-operative Credit Union. Located in Bridgetown, Barbados, the CU serves anyone living or working in Barbados and legal citizens of Barbados. The CU said after 10...
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EasCorp's eDeposit Program Eclipses One Million Mark in May
BURLINGTON, Mass. - EasCorp said at the end of May its eDeposit branch capture program processed one million items. The program has seen steady growth, with 79 credit unions from 12 states now performing branch capture through it. EasCorp has also launched a new version in eDeposit 1.1.O. "This upgraded...
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State Department FCU Goes With QuestSoft Solution for Mortgage Compliance
ALEXANDRIA, Va. - State Department Federal Credit Union has joined the roster of government-related CUs using the compliance and geo-coding software from QuestSoft Corp. The $850 million SDFCU will be using the HMDA RELIEF and Instant Geocoder compliance software from the Laguna Hills, Calif. company to ensure the credit union...
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Justice FCU Uses Network Specialist to Connect Branches in Secure Sites
CHANTILLY, Va. - Justice Federal Credit Union has chosen a suburban D.C. network integration specialist to take on the challenging job of connecting the IT infrastructure of the $387 million CU's 17 branches, many of them in secured locations. McLean-based Global Internetworking already has deployed and is managing a wide-area...
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IA Systems Names Cazer President
ALBANY, N.Y. - IA Systems, a subsidiary of Securian Financial Group, has promoted chief operating officer Chris Cazer to president with the expectation he will take over as CEO once current CEO Deborah Ryan retires at the end of the year. Ryan, CEO since 2001, is stepping down to pursue...
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Canada's Northern Credit Union to Rollout SilverCloud Knowledge Management
NEW LONDON, N.H. - SilverCloud Software is starting to see traction in Canada. The credit union software provider has signed Northern Credit Union of Sault Ste. Marie, Ontario for its Knowledge Management solution. "This system fits exceptionally well with our strategic direction of utilizing technology to reduce costs, speed the...
Opinions
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Thinking Outside.Period
It typically starts at a board meeting. A director says, "Hey, I saw Credit Union XYZ's billboard on the freeway. Why aren't we doing that?" And your marketing department has its next assignment. But "me too" is not a good strategy for any marketing campaign. And as mom always said,...
Letters to the editor
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Credit Unions Converting to Banks Should Pay Up
First of all, I applaud the Credit Union Times for bringing the conversion debate into the forefront. In my opinion, if a credit union decides to completely change its business model-converting to a bank, mutual or otherwise-the retained earnings accumulated under the old business model should stay in the industry....
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NCUA's CDRLF Could Do More Through Secondary Capital Loans
The National Federation of Community Development Credit Unions takes a keen interest in the NCUA Community Development Revolving Loan Fund. We led the fight to create the CDRLF from 1974-79, as well as the battle to keep it alive and useful for low-income credit unions throughout the 1980s, when it...
Looking Back
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CREDIT UNION TIMES Vol. 13, No. 27 July 3, 2002
Looking back four years ago finds former Utah Credit Union League Lobbyist Rob Bishop, emerging as the winner of the GOP Congressional primary race to represent the state's First Congressional District.
Opinion
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We Have Met the Enemy and It Is Us
The title character in the Pogo comic strip once uttered the now famous line, "We have met the enemy and it is us." He could have been talking about credit unions. There are many external threats to the industry (e.g., threat of taxation, diminishing margin spreads, excessive regulation) but the...
Publisher's Column
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Petty Politics Are Sadly the Way of the World in D.C.
Capitol Hill Insiders will tell you all about the nasty side of politics. Why some seemingly good-intentioned bills fail right from the start or why some shady amendments are inexplicably added in the eleventh hour often comes down to politics.
People
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EAST
Constitution Corporate Federal Credit Union, Wallingford, Conn., has elected Chris Fonseca, Gary Hultgren, and Warren Scholl to serve three-year terms on its board. During the reorganization meeting, the following individuals were elected to serve on the executive committee: George MacDonald, chairman; Chris Fonseca, vice chairman; Gary Hultgren, treasurer; Ed Hogan,...
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MIDWEST
DHCU Community Credit Union, Moline, Ill., has promoted Charlie Kilburg to mortgage loan sales manager and Joe DePaoli to phone a loan (PAL)/financial service officer. The CU has also named Kelly Brozovich, indirect loan officer. Community Choice Credit Union, Livonia, Mich., has appointed Jim McQueen to member service manager of...
In Memoriam
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Bankruptcy and Collections Guru William R. Mapother Dies
ST. LOUIS - William R. Mapother, 68, passed away June 22 after a long fight with cancer and pulmonary fibrosis. He died in Evansville, Indiana en route to his home in Kentucky after an Alaskan cruise with his fiance, family, friends and business associates. Mapother was renowned in the credit...
Resource Center
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Winning the War on Cybercrime: The Four Keys to Holistic...
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FFIEC Proposed Guidance on Social Media and How it Affects...
To learn how you and your institution can stay compliant with the new proposed FFIEC...
The Rise of "Mobile Commerce" and How it Affects YOU!
Could plastic cards become a thing of the past? This white paper explains what constitutes...
Key Indicators of High Performing Credit Unions
Get a complimentary demo of our loan portfolio analytics and access to the white paper,...
