Credit Union Times Magazine July-05, 2006

News

In Other News

  • 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

  • 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.

  • 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...

  • 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...

  • 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...

  • 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...

  • 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...

  • 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

Tech Bytes

  • 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...

  • 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...

  • 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...

  • 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...

  • 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...

  • 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...

  • 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

  • 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

  • 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....

  • 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

Opinion

  • 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

People

  • 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,...

  • 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

  • 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...

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