Credit Union Times Magazine July-12, 2006

  • Fiserv CU Processors Ready for HSA Rollout

    BROOKFIELD, Wis. - As consumer demand for health savings accounts rises, Fiserv's Credit Union & Industry Products Group is ready for the credit union rollout. Its seven core processors-AFTECH, CUSA Technologies, GalaxyPlus, IntegraSys, Summit Information Systems, USERS Incorporated and XP Systems-are offering HSA solutions that are fully integrated with the...

  • Missouri Division of Credit Unions Files New FOM Rules with Secretary of State

    JEFFERSON CITY, Mo. - Two months after the Missouri Credit Union Commission directed the state director of the Division of Credit Unions to draft a new field of membership expansion regulation, the Missouri Division of Credit Unions filed two new FOM rules and one amended rule with the Secretary of...

  • Business Loans Help CitizensFirst CU Grow in 2005

    OSHKOSH, Wis. - CitizensFirst Credit Union's growth was fueled in large part from its growing business lending program. The credit union saw commercial loans grow more than 34% from $64.5 million in 2004 to $86.5 million in 2005, The Northwestern recently reported. Much of that increase came through CitizensFirst's part...

  • TORONTO fast facts

    Toronto is recognized as the third-largest theater center in the English-speaking world, after New York and London, with over 90 venues in the Greater Toronto Area.

  • Ent FCU Issuing Business Check Cards, HSA Cards

    COLORADO SPRINGS, Colo. - The $1.9 billion Ent FCU has launched a program which will provide small business members with check cards attached to their business checking accounts and Health Savings Account cards that their employees can use to access their savings benefits. "Ent is committed to identifying and offering...

  • Bob, the Credit Union Guy Comes to New Jersey; Garden State CUs Look to Boost Their Image

    HIGHTSTOWN, N.J. - As states go, New Jersey and Utah have very little in common, but on the credit union level they both now share Bob, the Credit Union Guy. Bob, the Credit Union Guy is the starring figure in the Utah League of Credit Union's "The Difference: YOU" branding...

  • Members' Use Of High-Yield Savings Outside of CUs Pose Opportunity

    WASHINGTON - One in 10 online members are using a high-yield savings account at another financial institution, according to a recent survey conducted by Callahan's Internet Strategy Consortium. The data show that usage may be centered among some of the credit union's most profitable members, as the proportion rises to...

  • TORONTO fast facts

    The world's longest street, Yonge St. at 1,896 km (1,178 miles), starts at the city's lakeshore.

  • Mid-America League Joins Trend, Now `Association'

    BISMARCK, N.D. - The new Mid-America Credit Union League, organized by the merged North and South Dakota leagues and set to become a legal entity Jan. 1, is joining an industry trend by becoming an "association." It will join a number of its league brethren in taking on the association...

  • Bankers, CUs Joining Forces to Fight Card Fraud

    WASHINGTON - Fidelity National Information Systems, the firm which processes credit card transactions for the greatest number of credit unions, is teaming up with Card Services For Credit Unions and the Independent Community Bankers of America to educate banks and credit unions about fraud prevention tools they can use to...

  • Bethpage FCU Builds Volunteer Force of Goodwill

    BETHPAGE, N.Y. - Bethpage Federal Credit Union's Volunteer Program is helping the credit union build a name for itself within the community. Granted a community charter in 2003, the $2.2 billion credit union was helping more and more Long Island causes, but faced a challenge in finding help on a...

  • Wachovia Fined $25 Million for Investment Program Conflicts of Interest

    WASHINGTON - For alleged conflicts of interest between its research and investment banking operations, Wachovia Capital Markets, LLC has been fined $25 million, the North American Securities Administrators Association said July 5. The settlement ends a more than two-year, multistate investigation of Wachovia Capital Markets, which operates Wachovia Corporation's institutional...

  • Heritage FCU Named Territorial Corporate Volunteer of The Year

    NEWBURGH, Ind. - Heritage Federal Credit Union has recently been named the Territorial Corporate Volunteer of the Year by the Salvation Army. The award is presented to one company within a 10-state area. Heritage Federal has enjoyed a strong working relationship with the Salvation Army and was quick to mobilize...

  • Reader's Guide: NAFCU's 39th Annual Conference & Exhibition Special Issue

    TORONTO - NAFCU's annual conference & exhibition is always one of the most anticipated credit union events of the year. The 39th edition of this popular conference has come to Toronto and thousands of credit union leaders will converge on this popular Canadian city to attend. It is a special...

  • Two Australian CU Trade Groups Unite

    SYDNEY, Australia - Abacus began its first day of official business July 1st. The new trade association is a combination of two industry associations for co-operative financial services that could be considered rivals, but want to do more for their members by working together. The Australian Association of Permanent Building...

  • Chartway FCU Brings Back `Happy Days'

    VIRGINIA BEACH, Va., - Chartway Federal Credit Union has transformed its lunchroom into a fun haven for staffers. The credit union's recent lunchroom renovation trades in its standard stuffy corporate lunchroom for a `50s-style diner complete with plush blue booths, red stools and a checkered floor. "This is a way...

  • MasterCard Offers Essentially Unlimited Free Travel Sweepstakes

    PURCHASE, N.Y. - MasterCard International has initiated a sweepstakes that will allow one of its cardholders to win 500 round-trip tickets, anywhere in the world, up to a maximum total value of $500,000. The sweepstakes will run from July 1 until Aug. 31 and will include transactions on both MasterCard...

  • ACB NASDAQ Outshines Broader Market

    WASHINGTON - The America's Community Bankers NASDAQ Index (ACBQ) outperformed the broader market indexes for the first half of the year. The ACBQ Index posted an increase of 5.5% for the six months ending June 30, 2006, highlighting the strong investment performance of the community banking sector. The index value...

  • IBT Enterprises, Corporate Psychology Resources Form Strategic Partnership

    ATLANTA - IBT Enterprises, LLC, a retail design, construction and consulting services for the financial industry, has formed a strategic partnership with human capital consulting and software firm Corporate Psychology Resources. As a result of the partnership, IBT clients will have access to specialized services and a customized version of...

  • First Tech Undergoing Management Revamp

    BEAVERTON, Ore. - The $1.7 billion First Tech Credit Union, still recovering from the untimely death in May of one of its top executives and some coincidental departures, is looking at structural changes in its senior management lineup, according to Thomas Sargent, its president/CEO. "We have four staff positions to...

  • America First CU Donates $10,000 for Cancer Research

    OGDEN, Utah - America First Credit Union donated $10,000 to the American Cancer Society during this year's Relay For Life event. In addition, AFCU relay participants raised more than $7,500 during the event, which will also be used for cancer research. Seventy-five AFCU employees from the operations center in Riverdale...

  • TORONTO fast facts

    Toronto gets over 16 million tourists per year and generated $3.34 billion in direct expenditures in 2000.

  • Senate Appropriations Committee Approves International CU Funding

    WASHINGTON - Prior to leaving for the Independence Day recess, the Senate Appropriations Committee approved $10 million for the Cooperative Development Program and $225 million for micro-enterprise funding. The World Council of Credit Unions uses some of these funds to help develop and stabilize credit union systems in economically depressed...

  • Ringing in Era of Consumer Driven Health Plans?

    CHICAGO - A recent Aon Consulting and International Society of Certified Employee Benefit Specialists survey finds that 74% of consumer driven health plans offered by U.S. companies have been launched in just the past 14 months. According to Aon Consulting Health/Welfare Senior Vice President Bill Sharon, this may be "the...

  • CUNA Mutual Appoints James Zilinski to Board

    MADISON, Wis. - James Zilinski is the newest addition to CUNA Mutual Group's board of directors, effective July 1. Zilinski is retired chairman, president and CEO of Berkshire Life Insurance Company of America. He replaces Thomas Jones, who left the CUNA Mutual's board in December 2005. The board is in...

  • Data Reveals More Women, Minorities, Veterans Starting their Own Businesses

    WASHINGTON - Credit unions on the fence wondering if there is a tangible market for business services can look to the growing number of women, minorities and veterans that are starting their own businesses. Self-employment numbers have grown slowly and steadily since the late 1970s, and self-employment rates have been...

  • TOROTO fast facts

    The first permanent IMAX projection unit was established at Ontario Place Cinesphere in 1971.

  • CU*Answers and Corporate One to Form Image Exchange CUSO

    GRAND RAPIDS, Mich. - Credit Union Service Organization CU*Answers and Corporate One FCU have signed a letter of intent to form a new CUSO for image exchange. The new CUSO will offer depository services using Corporate One's image exchange solution, Automated Capture & Exchange. It will also offer share draft...

  • Diebold Announces Automatic Software Updating

    NORTH CANTON, Ohio - ATM manufacturer Diebold has announced that it has developed an electronic system for notifying financial institutions about Microsoft software updates for Windows-based ATM networks. Diebold's Software Update Notification System will allow credit unions to update security features by pre-qualifying each update through Diebold-specific testing and use...

  • TORONTO fast facts

    According to a United Nations report, Toronto has the second highest proportion of immigrants in the world, after Miami.

  • Buffett $1 Bill Highlights Nebraska League Auction

    OMAHA - In a new twist on fundraising for Children's Miracle Network, the Nebraska Credit Union League last week began a public eBay style Internet auction using a $1 bill autographed by Omaha billionaire Warren Buffett as one of its celebrated items. But hours after the auction started July 5,...

  • New Fed Study Shows Mainstream Issuers Do Not Offer Cards Indiscriminately

    WASHINGTON - A new study from the Federal Reserve indicates that mainstream card issuers take care to research the households to whom they issue their cards and that credit card debt alone does not threaten the majority of household economies. "Regarding the effect of industry practices on consumer debt and...

  • NCUA Urges, Requires Due Diligence in Broker, Safekeeper Dealings

    ALEXANDRIA, Va. - The rules are clear and concise on how credit unions should approach any contracts with broker-dealers and their safekeepers. NCUA Rules and Regulations Part 703.8 and 703.9 outline a number of specific steps on how credit unions are required to ensure certain protections. 703.8 Broker-dealers (a) A...

  • NCUA Board Members Take on Heavy Speaking Schedule in `06

    ALEXANDRIA, Va. - This edition of the NCUA Board is certainly getting out and about and speaking all over the country to credit union groups and others. The political appointees put a face on the agency and explain the direction they see it going during their time there. They also...

  • Municipal CU Celebrates Nine Decades of Delivering Products, Services; Plans for Future Growth

    NEW YORK - To reach 90-years old is no small feat. Any person that's reached that milestone can vouch for the many hallmarks in their personal history they hit along the way. The same is true for financial institutions, and New York's Municipal Credit Union, which is celebrating its 90th...

  • Navy Federal Financial Group's Launch of Broker-Dealer Latest Offering to Meet Unique Needs of Military Field of Membership

    MERRIFIELD, Va. - This April marked the sixth anniversary of the launch of Navy Federal Financial Group and during that time, the subsidiary serving one of the world's largest credit unions continues to build its repertoire to meet member needs. The division of $25 billion Navy Federal Credit Union is...

  • New MSU FCU Headquarters to Meet LEED Standards

    EAST LANSING, Mich. - The school colors are green and white, so it seems appropriate Michigan State University Federal Credit Union's new headquarters will be green-green, that is, in the environmental sense. The 140,000 square-foot structure will be the first new Lansing-area building to meet Leadership in Energy and Environmental...

  • New NAFCU Services Corp. President Goes The Extra Mile in Cycling and Business

    ARLINGTON, Va. - Whether on a bicycle or a plane, David Frankil, the new president of NAFCU Services Corporation, will push for that extra mile. At 48, Frankil is an avid cyclist, frequently going on 60 to 70 mile treks. He recently rode from Washington, D.C. to Bethany Beach, Del.-about...

  • The Members Group Gets into Payroll Card Business, Plans Fourth-Quarter Rollout

    DES MOINES, Iowa - The Members Group continues to diversify into new product areas. Now credit unions can look to the CUSO that's jointly owned by Iowa Corporate Credit Union and the Iowa Credit Union League, to come out before the end of the year with two types of payroll...

  • USERS President John Schooler Exits

    VALLEY FORGE, Pa. - Fiserv, the largest player in credit union data processing, has a vacancy at the top at USERS. According to company officials, USERS' President John Schooler has left the company to pursue other interests. The company would not comment any further on the details surrounding Schooler's departure....

  • What the Locals Recommend

    There is so much to do in the Distillery Historic District (www.thedistillerydistrict.com) of downtown Toronto. It was once one of Canada's largest distilleries, and has now been transformed into a center for arts, culture and entertainment. The distillery has maintained its Victorian Industrial Architecture, while creating a village for creative...

  • PSCU Financial Services' Call Center Steps in to Help Out CUs with Large FOM Expansions

    ST. PETERSBURG, Fla. - PSCU Financial Services' call center has always been a vital part of the 30-year CUSO's business. But last year the company broke it out as a separate line of business, and now the call center is being used to help credit unions with expanded community fields...

  • Peoples Federal CU New Mobile Branch on Cutting Edge of Technology

    NITRO, W. Va. - In a first for this area, Peoples Federal Credit Union is taking its branch on the road to reach out to residents. "We rolled out with the mobile branch this past winter and people just stared at first," said Peoples FCU Vice President of IT/Marketing Jeff...

  • Looking at Blend of Both Consumer Credit, Business Credit Scores, Might Help Better Determine Risk, Experian Study Shows

    COSTA MESA, Calif. - Credit unions and other lenders typically look at either a personal credit score or a commercial credit score in determining crucial financing decisions, but looking at a blend of the two may be a better way to determine risk, a recent study discovered. Experian compiled a...

  • Credit Unions Showcasing CU Difference Through Unique Sponsorships; Potential is Seemingly Limitless

    WEST PALM BEACH, Fla. - Instead of talking about the "credit union difference" more and more credit unions are demonstrating it to consumers through some creative and unique sponsorships and community events. According to some marketing experts, the "show don't tell" experience may resonate more with members and nonmembers alike...

  • Credit Unions Urged to Look at New Approaches to Chargebacks, Disputes

    CUPERTINO, Calif. - Data seen by Bill Brown, product line manager for Chordiant software, indicates credit card fraud has reached the $1.1 billion level, with a $300 million increase in the past year. Brown figures as credit unions and their card portfolios grow, they're going to take their share of...

  • CU Credit Connection's Hogan Says CUs And Subprime Indirect Lending Can be a Good Fit

    SALT LAKE CITY - Robert Hogan agrees subprime indirect auto lending is "definitely a risky business," but that shouldn't deter credit unions from getting involved in the product area. With the right due diligence, the president of CU Credit Connection says the service can benefit both members and credit unions....

  • Credit Unions Have to Be in it for the Long Haul When it Comes to Hispanic Outreach

    MADISON, Wis. - Credit unions need to plan to serve Hispanic members over the long haul and recognize that that their needs will change over time. That is one of the conclusions suggested by La Oportunidad, a new report from the Filene Research Institute. La Oportunidad means The Opportunity in...

  • Credit Union CEOs Express Pessimism Concerning Economic Expectations

    DALLAS - In contrast to the optimism felt after the first quarter of 2006, credit union leaders have reversed direction and are feeling less confident about economic conditions. Results of Southwest Corporate's quarterly CU CEO Confidence Survey show a slight drop in economic expectations for their own credit unions' financial...

  • CUNA Calls for Permanent Increased IRA Contributions, Saver's Credit, `Catch-up' Provisions

    WASHINGTON - CUNA recently appealed to Congress to include certain provisions from the Pension Protection Act of 2005 in a final bill in an effort to increase the historically low national savings rate. In a June 21 letter, CUNA President/CEO Dan Mica urged members of a House and Senate conference...

  • CUSC Eyes Hurricane Season, Enhances Shared Branching

    ATLANTA - Hurricanes Katrina, Rita and Wilma last year not only drove flood waters ashore, they also pushed credit unions to sign up for shared branching as many members in the stricken areas relocated throughout the United States. Eyeing predictions of another busy hurricane season this year, Credit Union Service...

  • Investment Fraud Typically `Horse Already Out the Barn,' Cases but Early Due Diligence Still Paramount for Credit Unions

    ALEXANDRIA, Va. - This summer may possibly close a chapter on what the Securities and Exchange Commission has described as one of the largest cases of investor fraud the agency has seen in its 72-year history. The case involves Bentley Financial Services and the sale of fake certificates of deposits...

  • Kansas Fed Data Shows CU Biz Lending Not a Threat to Banks

    KANSAS CITY - While credit unions in several Midwestern states are seeing growth in business lending, they're still not a competitive threat to community banks, according to the Federal Reserve Bank of Kansas City. The Tenth District office of the Fed covers Colorado, Kansas, Nebraska, Oklahoma, Wyoming, portions of western...

  • Lockheed Georgia Employees FCU CEO Outlines CU Efforts For Pandemic Preparedness; Communication is Key

    WASHINGTON - Lockheed Georgia Employees Federal Credit Union CEO Ed Collins testified, jointly for CUNA and NAFCU, before the House Subcommittee on Oversight and Investigations on credit unions' preparedness for pandemic influenza. Recent disasters-natural and man-made-have tested credit unions systems time and again. Most recently, Hurricane Katrina tested the mettle...

  • Fed Bumps Rate Up 25 Basis Points, Economists Differ on Future Hikes

    WASHINGTON - The Federal Open Market Committee raised its target for the federal funds rate 25 basis points to 5.25%, and indicated potentially more tightening on the way. "Recent indicators suggest that economic growth is moderating from its quite strong pace earlier this year, partly reflecting a gradual cooling of...

  • Dutch Point CU CEO Dorothy Sullivan Leaves Behind 43-Year Legacy

    WETHERSFIELD, Conn. - Over a more than four-decade period, Dorothy "Dot" Sullivan has seen a number of changes at Dutch Point Credit Union, especially since she was the very first employee to work there. The president/CEO of the $146 million credit union recently announced that she will retire July 31...

  • TORONTO fast facts

    Throughout this issue when you see a box like this, you will find a Toronto Fast Fact. These facts complement a special NAFCU Attendee Guide to Toronto on page 46 that contains insider information on what to do while in Toronto.

  • Another CU Joins Allpoint

    SCHENECTADY, N.Y. - The $180 million First New York Federal Credit Union has joined the Allpoint automated teller machine network, the network has announced. Joining Allpoint gives First New York members free access to 32,000 surcharge-free ATMs across the country, Allpoint said. Over 3,000 machines in New York are located...

  • Four Arrested For Stealing A Golden One ATM

    LOOMIS, Calif. - Four people suspected of stealing an ATM at Cal Expo on July 4 were arrested in the town of Loomis on July 5. Police investigators believe the four hot-wired a forklift and loaded The Golden One Credit Union ATM onto a vehicle and drove it to a...

  • Capital Communications, Hudmo Valley CUs Merge

    ALBANY, N.Y. - The $459 million Capital Communications Federal Credit Union and the $2.5 million Hudmo Valley Federal Credit Union merged on July 1. The merger received regulatory approval from NCUA, and was overwhelmingly approved at a meeting of the Hudmo Valley FCU membership on June 4, 2006. Hudmo Valley...

  • Sunshine State CU's Second Attempt and Marcy FCU's Filing Makes for Trio of Pending Conversions

    ARLINGTON, Va. - Now there are three credit unions actively seeking to change their charters to those of mutual banks. The $24 million Marcy Federal Credit Union based in New York is the latest to file with the Office of Thrift Supervision late in June. According to NCUA, Marcy FCU...

  • Cosmopolitan Toronto Offers Visitors a Diverse Experience

    Toronto is Canada's largest city and its top tourist destination. This cosmopolitan city is renowned for its shopping, eateries and unique attractions. Here are just a few of the most popular: * If you like to shop, you can't beat Eaton Centre. The retail destination spans two blocks, rises six...

  • Seven More CUs Opt to Go with Encore For Card Services

    WAKEFIELD, Mass. - Seven credit unions, most of them in the Washington D.C. area, have gone with Encore Card Services, a branch of the Encore Electronic Services Cooperative, for their card processing needs. The seven credit unions include: National Capital FCU of Landover, Md.; Transit Employees FCU of Washington, D.C.;...

  • BECU Among Washington's Top SBA 7(a) Lenders

    TUKWILA, Wash. - Boeing Employees Credit Union continues to rank high for its Small Business Administration's 7(a) loan program activity. According to SBA, the $6.4 billion credit union made 61 loans totaling $6 million as of May 31. BECU is ranked above Washington Mutual Inc. of Seattle, which made 55...

  • L9.com Two-Time CUNA Tech Council Best of Show Winner

    MADISON, Wis. - L9.com's Behavior Based Promotion Manager has helped the company walk away with the CUNA Technology Council's Best of Show Award for the second consecutive year. The winning needs-based marketing product tracks members' behavior giving credit unions the ability to place specific promotions based on what their members...

  • Signature Debit Cards Outpace Credit Cards Year On Year

    FREDERICK, Md. - The growth in sales volume on debit cards which cardholders validate with their signatures outpaced that of credit cards in the first quarter of 2006 in year over year figures, according to Cardweb.com, a Web site which tracks card trends. According to the site, signature debit transaction...

  • Power Outage Tests Afena FCU, Beacon CU Disaster Preparedness Policy

    MARION, Ind. - Afena Federal Credit Union provided a warm welcome to area Beacon Credit Union members after a strong storm producing hurricane-like winds up to 80 mph left thousands of households and local businesses-including Beacon CU's Marion branch-without power. As part of a Disaster Preparedness Policy and Procedures reciprocal...

  • WRG Signs Two More CUs to Episys Integration Solution

    PASADENA, Calif. - Two more credit unions will be using Wescom Resources Group's integration solution to customize software for their Symitar Episys platforms. They are $514 million Utilities Employees Credit Union (www.uecu.org) of Reading, Pa., and $171 million Community One Credit Union (www.communityonefcu.com) in Las Vegas. The CU Integrator tools...

  • CUNA and NAFCU Take Different Tracks Over July 4 Recess

    WASHINGTON - CUNA and NAFCU demonstrated different lobbying approaches over the Fourth of July district work period. "Members of Congress are pretty much packed during the Fourth of July recess," NAFCU Director of Political Affairs Murray Chanow commented. "I don't want to send members out there and all they get...

  • TORONTO fast facts

    There are over 8,000 restaurants and over 35,000 hotel rooms in the city.

  • TORONTO fast facts

    Rogers Centre (formerly Skydome) was the world's first stadium to have a fully retractable roof.

  • TORONTO fast facts

    The film industry supports 28,000 jobs in Toronto and annually contributes $1.5 billion to the economy.

  • TORONTO fast facts

    One third of Canada's population is located within a 160 km (99.4 mile) radius of Toronto.

  • EECU Offers Free Identity Theft Seminars

    FORT WORTH, Texas - EECU is helping its members prevent identity theft by hosting a free identity theft seminar. A recent survey released by the Justice Department's Bureau of Justice Statistics found that 3.6 million U.S. households have been victims of at least one type of identity theft. It is...

  • ICBA Promotes Stetter as Head Of State Relations

    WASHINGTON-The Independent Community Bankers of America announced last week that it has promoted Aaron Stetter to director of state relations. As such, he will serve as the national liaison for ICBA's network of 41 state and regional partner associations. "Aaron has proven a great asset to ICBA since joining our...

  • Community CU Expands Charter, Changes Name

    HUNTINGTON, Ind. - Community Credit Union will celebrate its 75th anniversary with a new name and a new charter. Effective July 1, the $14 million credit union has converted to a federal community charter and is sporting a new moniker: Community Link Federal Credit Union. The changes, which were approved...

  • Landmark CU, Bank Partner to Help Low-Income with Car Loans

    NEW BERLIN, Wis. - Low-income families who need financial help with getting transportation have a new resource to turn to. Landmark Credit Union and Waukesha State Bank have signed on with the "Ways to Work" program, a national effort already in 25 states that provides low-interest auto loans. Qualified applicants...

  • Ideas for Dining While Visiting Toronto

    Waterfront Lago is a cool, outside, Italian bar and restaurant right on the water. Waterfront area is a good place to walk around-check out who is playing at the Harbour Front Centre stage. Wine For wine, check out the Jamie Kennedy Wine Bar-Jamie Kennedy is a celebrity chef in Toronto....

  • Financial Institutions Can't Afford to Overlook the Generation Factor in Strategic Plans

    A recent Forrester Research Inc. study The Generations of Financial Services Consumers reveals that the differences among Gen Yers, Gen Xers, seniors and baby boomers goes beyond just age, and financial institutions need to consider incorporating the generations factor into their future strategies. Despite their pronounced difference in everything from...

  • NJCUL Advertising Cooperative Members 2006

    The following credit unions have contributed to the new branding campaign: 1. Atlantic City Electric Company Employees FCU 2. Atlantic City Firemen's FCU 3. ADP Employees FCU 4. Bay Atlantic FCU 5. Bayonne City Employees FCU 6. Bergen Division FCU 7. Campbell Employees FCU 8. Community Financial Services FCU 9....

  • TORONTO fast facts

    Toronto Stock Exchange is the third largest stock exchange in North America by market capitalization and sixth in the world.

  • Connecticut CU Association Names Former Minnesota League Leader Chandler as CEO

    WALLINGFORD, Conn. - The Connecticut Credit Union Association looked to a former league leader to fill its vacant corner office. The CTCUA has named former Minnesota CU Network President/CEO Kevin Chandler as its new president/CEO. Chandler left the Minnesota league in May. The league would not comment on the circumstances...

  • TORONTO fast facts

    There are 1,500 parks and 8,000 hectares of parklands-ravines, valleys, woodlots, waterfront natural areas, parks and farmland-or 18.1% of the city's area. There are also 187 km (116.2 miles) of bike paths, 7.8 km (4.85 miles) of pedestrian paths, and 3 million publicly owned trees.

  • Southwest Teachers CU Now Educational Community CU

    SPRINGFIELD, Mo. - After six decades, Southwest Teachers Credit Union is changing its name to Educational Community Credit Union. The name change is a move to more accurately reflect the members it serves. "Our new name is more inclusive than our previous name. We don't have a community charter.we haven't...

  • Strunk to Offer Overdraft Privilege Program to ULTRADATA Users

    HOUSTON - Credit unions running the ULTRADATA core platform are now being offered the overdraft payment program from Strunk & Associates of Houston. Strunk's Overdraft Privilege program is now in place at more than 1,250 institutions, the company says, and the marketing alliance with Atlanta-based Harland Financial Solutions gives it...

  • Randolph-Brooks FCU Earns `Best Financial Institution' Honor

    LIVE OAK, Texas - Randolph-Brooks Federal Credit Union was selected as the "Best Financial Institution" in Comal County through the New Braunfels Herald-Zeitung's Readers' Choice awards, the credit union reported. "Randolph-Brooks is proud to be recognized with this award," said Randy Smith, president/CEO of Randolph-Brooks. "It shows us that we...

  • Bayer FCU, Chiphone FCU Prove Second Joint Branch the Charm

    ELKHART, Ind.- In the true spirit of cooperation Bayer Federal Credit Union and Chiphone Federal Credit Union have teamed up to open their second partnership branch in two years. That's right two credit unions building one joint branch that will serve both sets of members. Set to open July 10,...

  • In-Depth Feature: How and Why Some CUs Remain Flush With Capital

    SHREWSBURY, N.J. - Capital. Many credit unions are struggling to build it, others crave more of it, but some credit unions are awash in capital. Does it make sense? Shouldn't credit unions be using their excess capital to invest in new products, services, facilities, or be doing everything possible to...

  • Community Choice CU Hosts Youth Summit Seminar

    LIVONIA, Mich. - Community Choice Credit Union Business Development Manager Kathy Hoen and CU at School Program Director Jeremy Cybulski were speakers at the Michigan Credit Union League's Youth Summit hosted in Novi, Michigan. Designed to help credit unions meet the important needs of the youth/teen market, the Youth Summit...

  • Purdue Employees FCU Wins Business From MBNA

    WEST LAFAYETTE, Ind. - The $449 million Purdue Employees FCU has managed to win business away from MBNA, now a division of Bank of America. The Purdue Alumni Association has announced that it will not renew its contract with MBNA to provide affinity cards to its members and instead will...

  • Bankers Far Outspend CUs on Congressional Trips

    WASHINGTON - Looking at the credit union PACs shows some difference in spending between the two groups on their friends in Congress, but their sponsoring of trips provides a stark contrast. According to America Public Media (at http://americanradioworks.publicradio.org), over the past six years CUNA has spent a total of $2,836...

  • Utah Credit Union Brings in $4 Million in CD Money

    SALT LAKE CITY - With loan growth showing big gains, the $172 million Utah First Credit Union is finding an attractive 5.5% rate on certificates of deposit a useful tool in bringing liquidity. Indeed, during a special two-day private sale the Salt Lake CU brought in $4 million on 12-to-60...

  • Pennsylvania Gov. Rendell Signs Identity Theft Legislation

    PHILADELPHIA - Pennsylvania residents now have a law designed to further prevent them from becoming victims of identity theft. Gov. Ed Rendell signed into law SB601, sponsored by state Sen. Robert Wonderling (R-24) that puts restrictions on how Social Security numbers are used. Violation of the law is punishable by...

  • Bernanke to Testify on Monetary Policy

    WASHINGTON - Federal Reserve Board Governor Ben Bernanke will testify this month before Congress on monetary policy. Financial Services Committee Chairman Mike Oxley (R-Ohio) will gavel the meeting to receive the Federal Reserve Board's semiannual monetary policy report on Thursday, July 20. Bernanke will testify on the conduct of monetary...

  • Missouri Valley FCU Promotes Hoagland to CEO

    ST. PETERS, Mo. - Missouri Valley Federal Credit Union has promoted Vice President Lorrie Hoagland to president/CEO. Hoagland joined the $23 million credit union in 1998 and has served in a variety of capacities. She is active in the community organizing fundraising efforts for the Children's Miracle Network/Credit Unions for...

  • Cost Comparison: Toronto Vs. New York City

    *Standard two-bedroom apartment: $1,658.00 USD *Standard two-bedroom apartment (NYC): $4,275.00 USD *Cup of coffee: $1.85 USD *Cup of coffee (NYC): $3.35 USD

  • Defined Benefit Plans Face a Number of Obstacles Going Forward, Report Predicts

    NEW YORK - Defined benefit plan sponsors may find themselves sailing on "treacherous seas," according to a new report from Mercer Human Resource Consulting. Mercer recently completed its annual survey titled How Does Your Retirement Plan Stack Up of the retirement programs sponsored by the companies in the S&P 500,...

News

  • TORONTO fast facts

    Over 100 languages and dialects are spoken in Toronto, and over one third of Toronto residents speak a language other than English at home.

  • Noce Says High Capital for Energy is Just Fine

    WALTHAM, Mass. - Having capital of 20.98% ranks Energy CU 30th among CUs in the category. But rather than considering the level too high, the $75.3 million CU is perfectly comfortable with it. In fact, says President/CEO Paul Noce, "We've been fortunate to be able to accumulate so much capital....

  • Despite Margin Squeeze, Some CUs Find Ways to Boost ROA

    Credit unions are facing a squeeze on their balance sheets that is hurting return on assets. More credit unions are looking for non-interest income in new areas to boost their returns. Despite the tough times across the board, many CUs are finding ways to generate high ROAs. The following list...

  • High Capital Not Unusual for LOMTO FCU

    NEW YORK - Under other circumstances, Richard Kay might consider LOMTO FCU's 21.04% capital-to-assets ratio high. But considering virtually all of the $111.2 million CU's loan portfolio is made up of small business loans, the president/CEO doesn't think so. "It's a good position to have a high capital level in...

  • California Still Tops for the Billionaire's Club

    California reigns supreme when it comes to billion-dollar credit unions. Twenty-three California credit unions have over a billion dollars in assets and rank in the top 100 largest credit unions, including seven of the top 20. Following California is New York and Florida, each with eight credit unions over a...

  • NAFCU Swarms Toronto

    One of the biggest credit union events of the year-NAFCU's 39th Annual Conference & Exhibition-is set to kick off in Toronto this week. NAFCU expects one of its best crowds ever-with 925 delegates and 2,000 people in total expected to attend-as it lands in Canada for the second time in...

  • Canadian CU Not Afraid to Let Members Know About Dues Commitment

    TORONTO - The Food Family Credit Union assesses an annual fee to its 2,000 members, but in its newsletter it explained why under the heading "Dues for Democracy." They said, "Annually we assess the equivalent of 29 cents a week to pay for a variety of services within the credit...

  • Some CUs Choose Higher Capital to Prepare for Different Rainy Days

    ARLINGTON, Va. - Edinburgh Teachers CU wants to keep a high capital level to shield its members from eventual taxation. "We have deliberately sought a strong capital position because we consider that inevitably credit unions will be taxed," explained Jeff Moats, CEO of Edinburgh Teachers Credit Union, a $62 million...

  • Capital Served to Buffer CU Against Uncertain Future

    FLINT, Mich. - Marty Smith, CEO of the $317 million Dort FCU said his CU had chosen to accumulate the additional capital to serve as a hedge against what may be an uncertain automotive future. "We have had a history of generating strong returns," Smith said, speaking of the 55...

  • CEOs From Very Different Types of CUs See Issue the Same

    SAN ANTONIO - Jeffrey Farver, president/CEO of the $1.9 billion San Antonio Credit Union in Texas, believes the cooperative model has not changed since the 1930s when farm co-ops were first formed for farmers who needed to join together to market their farm products. "It was people helping people in...

  • Capital Must Be Spent Down for Future Existence, CU Realizes

    PITTSBURGH, Pa. - Pittsburgh Teachers Federal Credit Union knew it had to update and modernize to survive. President and CEO Christine Chojnicki said the credit union has been around for 70 years. "We wanted to make sure the credit union was around for the next 70 years and if we...

  • Despite Some Pressure, Spirit of Cooperation Still Alive in CU Industry, Executives Say

    ARLINGTON, Va. - In spite of feeling some pressure and even taking some lumps lately, the spirit of cooperation that has characterized the credit union industry from its beginning remains alive and attractive, executives who work close to the heart of that industry reported. Shared branching may be about the...

  • Profitability Raises Capital at Progressive CU

    NEW YORK - Because it focuses a lot on larger business loans-namely taxi medallions-Progressive Credit Union has grown its capital to be the highest in the country through repetition and scale. "It isn't necessarily that credit unions choose to carry so much capital so much as a function of: We're...

  • NAFCU Large FCU CEO of the Year Cestra Keeps $3 Billion DCU `Agile'

    MARLBOROUGH, Mass. - Carlo Cestra has made a career out of tapping credit unions' growth potential and, most recently turned around an ailing Digital Federal Credit Union. Cestra took on the challenge of turning a declining DCU into an efficient, nimble, and successful credit union. When he took over in...

  • Woodlands CU Maintains High Capital For Rainy Day

    BERLIN, N.H. - Woodlands Credit Union has a capital ratio of 28.37%, but this was not always the case-it used to be higher. "My board struggles with how much is too much," President and CEO Tim Collia commented. Prior to joining Woodlands over three years ago, he served as chief...

  • In Their Own Words: From Work in the Community to Not Making the Big Salary, CU Leaders Say Philosophy Lives On

    "There are a lot of different things going on in the industry with different strategies being done by different organizations. But the message is not as consistent as it should be. It's certainly part of our strategic plan. [The philosophy] is in our mission statement. On the education front, we're...

  • Toronto Ethnic Credit Unions Are Going Strong

    TORONTO - Ethnic credit unions serve a special niche market wherever they operate. The Toronto area has nine such credit unions: Estonian Credit Union, Finnish Credit Osuuspankki Union, Parama Lithuanian Credit Union, Polish Alliance (Brant) Credit Union, Portuguese Canadian Credit Union, Slovenia Credit Union, Taiwanese Credit Union, Ukrainian Credit Union...

  • Despite High Capital, U$X FCU Gives Plenty Back, Says CEO

    PITTSBURGH - The $115 million U$X FCU which was started in 1938 for general office employees of U.S. Steel Corp. has always operated with large amounts of capital and president David R. Ackerman says it's been a good strategy to be "thrifty." The CU has been operating with 1% ROA...

  • Offerings Make a Difference at LA DOTD FCU, NAFCU's Small FCU CEO of the Year

    BATON ROUGE, La. - As far as LA DOTD Federal Credit Union CEO Cary Anderson, NAFCU's CEO of the Year for smaller federal credit unions, is concerned, he's just doing his job. LA DOTD is the ninth credit union Anderson has worked at-and where he has remained since 2001-fourth as...

  • Is CU Philosophy Alive and Well, or Waning?

    SHREWSBURY, N.J. - Credit unions are converting to banks. Credit unions are competing with each other more than ever before. Credit unions are looking for non-interest income through new products and services that can be described as untraditional. What's going on? Is the credit union philosophy dying a slow death?...

  • Additional Capital Needs to be Used Carefully

    SHREVEPORT, La. - Chris Clark, CEO of the $84 million Aneca FCU explained that the CU's previous board had set out deliberately to build a strong capital base, but that the CU had decided to change its course a bit after NCUA questioned some of the ways it was using...

  • Conflicting Opinions from D.C. Leaders on Whether CUs Living Up to the CU Philosophy, What That Is

    WASHINGTON - There are some conflicting points of view around Washington over whether the credit union philosophy is alive and well and what that even is. From behind the corner office desks of the two national credit union trade associations, credit unions are doing a fine job of serving their...

  • In Their Words: Leaders Talk Capital, `Controlled Growth' and Preparing For Future `Dangers' Reasons for High Capital

    "I've been here for 10 years. When I got here, there was very high capital, like 30%. We've got it down to about 24%. One reason [for the decrease] is shares have gone down. We give back each and every day. Our savings rates are higher than most credit unions...

  • Empire and Mid-States Complete Merger Deal

    ALBANY, N.Y. - Calling it the creation of a new "top-tier corporate," Empire Corporate and Mid-States Corporate announced that their merger was finalized on June 30. The new Members United Corporate has $9.5 billion in assets and serves 2,100 credit unions. Joe Herbst, former CEO of Empire, will lead the...

In Other News

  • MILESTONES

    T&C Federal Credit Union, Bloomfield, Mich., celebrates 70 years of business this year. In 70 years, T&C has grown from one branch to nine branches, with a 10th opening this month. Currently the CU has 63,000 members and assets in excess of $550 million and has given back to each...

  • DONATIONS

    St. Anne's Credit Union, Fall River, Mass., awarded 12, $1,000 scholarships to area high school seniors at its 70th Annual Meeting. This makes the 15th consecutive year for the credit union's scholarship program. John R. Ledwidge, president/CEO, and members of the CU's board of directors were there to present the...

News Briefs

  • CUs of Mass Sponsor Miles for Miracles, Walk

    BOSTON - The Children's Hospital Boston Miles for Miracles, Walk, held along the Charles River on June 11, had a first-ever premier sponsor, the Credit Union of Massachusetts Kids at Heart program. Jane Melchionda, president/CEO for Eastern Corporate Federal Credit Union and founder of the Kids at Heart program, presented...

  • State Farm Bank, CUs Vehemently Deny Rumors Of Merger

    BLOOMINGTON, Ill. - As speculation swirls around rumors that State Farm Bank and the 12 State Farm federal credit unions that recently received NCUA approval to merge into one entity might together merge into one multi-billion dollar financial institution, both sides are vehemently denying the move. "I'm not sure where...

  • House Passes Amendment Earmarking $40 Million for SBA 7(a) Program

    WASHINGTON - An amendment that would provide $40 million for the Small Business Administration's 7(a) loan program passed in the House of Representatives June 27. The amendment was passed as an inclusion to the Science, State, Justice and Commerce Appropriations Act for Fiscal Year 2007. The measure, introduced by Rep....

  • Paulson Confirmed as Next Treasury Secretary

    WASHINGTON - The Senate approved Henry Paulson to serve as the next Treasury Secretary. Paulson, former chairman and CEO of the Goldman Sachs Group, is replacing John Snow, who has applauded credit union efforts and supported the tax-exemption on numerous occasions. During his confirmation hearing, Paulson said, "If confirmed, I...

  • Correction

    The story entitled "FASB Merger Accounting Change Put Off Again" in the July 5 issue on page six, reported that the delay in the Financial Accounting Standards Board's merger rule change from 2007 to 2008 was definite. While the rule change is likely, at this time it is not definite....

  • TORONTO fast facts

    More people live in Toronto than in Canada's four Atlantic provinces combined.

  • Congressional Financial Services Leaders See Need For Pause in FHFB Proposal

    WASHINGTON - The leadership of the House Financial Services Committee wrote a letter to the Federal Housing Finance Board chairman saying that all the objections raised to its proposal that would lessen the likelihood of member dividends require a second look. The FHFB recently proposed minimum retained earnings levels for...

Marketing

  • Boulder Valley CU Makes Employees' Homeownership Dreams a Reality

    ESTES PARK, Colo. - Boulder Valley Credit Union has found a creative way to not only recruit and retain employees, but also generate goodwill in the community. The credit union has recently unveiled its new Employer Assisted Housing program that offers down payment assistance for its employees to buy a...

  • MCUL Earns Advertising, Publications Honors

    NORTHVILLE TOWNSHIP, Mich. - Once again the Michigan Credit Union League has been singled out for excellence at CUNA's Pro and Blockbuster Awards. In the Blockbuster category, for best league advertising program, MCUL received the "Best of Show" award for the Michigan Credit Union Brand Campaign and first place for...

  • MAX, Mayor Team Up For Baseball Day in Montgomery

    MONTGOMERY, Ala. - When Mayor Bobby Bright declared July 10th as Baseball Day here, MAX Your Community Credit Union!, stepped up to "home plate" to lend the city a hand in celebrating by sponsoring the 34th Southern League All-Star Game at Riverwalk Stadium. The Southern League All-Star Game is a...

  • Allegacy FCU Takes Lifestyle Marketing to New Levels

    WINSTON-SALEM, N.C. - A recent Allegacy Federal Credit Union public relations event may have newlyweds here saying "I do" to joint checking accounts. Given the popularity of June weddings, the credit union sent their own "bride and groom" complete with a chauffer out in a convertible covered with the Allegacy...

  • SELCO Promotes Larson to Marketing VP

    EUGENE, Ore. - SELCO Community Credit Union has promoted Bonnie B. Larson from director of marketing to vice president of marketing. Larson will supervise a team of five marketing specialists, and will focus on strategic planning and increasing SELCO's marketing impact for both the credit union and the numerous divisions...

Regulatory/Compliance

  • FDIC Looks at Deposit Insurance Updates

    ALEXANDRIA, Va. - NCUA has issued a regulatory alert notifying federally insured credit unions of changes to appraisal standards that will take effect shortly. NCUA's Regulatory Alert 06-RA-04 was issued to ensure credit unions were aware of modifications made by the Appraisal Standards Board to the Uniform Standards of Professional...

  • Growth of Trust-Friendly States May Help Credit Unions

    NEW YORK - Members looking to establish trusts may have an edge in certain states. Alaska continues to be among the most trust-friendly states, having recently revised its trust code to make it more difficult for divorcing spouses to seize assets, the Wall Street Journal reported. New Hampshire became one...

  • NCUA Sticks with XML as Banking Regulators Go XBRL

    WASHINGTON - NCUA has found that its own customized XML-based software is most suitable for credit union call reports despite the other federal banking regulators' moves to XBRL. XBRL, or eXtensible Business Reporting Language, was created specifically for the reporting of business and financial data, according to XBRL International, a...

  • Power Failure Leads to Long Weekend for NCUA HQ Staff

    ALEXANDRIA, Va. - A power outage at NCUA's Alexandria, Va. headquarters led to an unexpected day off. Staff at NCUA's Duke Street headquarters, which also houses the Region II offices, got an extra long weekend with the power outage occurring the Monday before the Fourth of July. NCUA Director of...

  • President Nominates Mishkin to Fed Board

    WASHINGTON - The president has announced another nominee to fill an open seat on the Federal Reserve Board. Frederic S. Mishkin, a professor at Columbia University, has been nominated to fill the remainder of a 14-year term expiring Jan. 31, 2014. Mishkin currently serves as the Alfred Lerner Professor of...

  • SEC Seeks Feedback for Broker-Dealer Study

    WASHINGTON - The Securities and Exchange Commission recently published a draft contract proposal in preparation for a study comparing how the different regulatory systems that apply to broker-dealers and investment advisers affect individual investors. Broker-dealers are regulated under the Securities Exchange Act of 1934. Investment advisers are regulated under the...

Tech Bytes

  • Entrust and Addison Avenue FCU Reach Agreement on Patent Suit

    DALLAS - Security vendor Entrust and Addison Avenue Federal Credit Union have reached an amicable agreement and settled Entrust's patent infringement lawsuit against the CU. Entrust sued Addison Avenue in March after learning of the CU's two-factor authentication product for online services. Entrust claimed Addison Avenue infringed on its grid...

  • EMC Corp. to Acquire RSA Security

    HOPKINTON, Mass. - Information management giant EMC Corp. is buying RSA Security Inc. for about $2.1 billion. "Businesses can't secure what they don't manage, and when it comes to securing information, that means simply two things-managing the data and managing access to the data," says Joe Tucci, chairman, president and...

  • Philadelphia FCU Commits to Web-Based Expense Control/Reporting Platform

    PHILADELPHIA - Employees at Philadelphia Federal Credit Union will soon be surfing the Web to purchase supplies and file their travel expenses. The organization is the first credit union to sign up to use the expensewatch.com on-demand expense control and reporting system. A Web-based application-service provider, expensewatch.com offers three modules-travel...

  • Del Norte CU Makes Move To USERS

    SANTE FE, N.M. - Del Norte Credit Union will be converting its core processing to the USERS Inc. in-house platform and deploying the Fiserv unit's member relationship, cross-selling and Spanish online banking solutions. The conversion to the DataSafe system will take place in April 2007, according to the $285 million...

  • Denali Alaskan Centralizes Security in One Department to Deliver Consistent Policy

    ANCHORAGE - At most credit unions, system security is the bailiwick of the IT department. At Denali Alaskan Federal Credit Union, a 47,000-member credit union with nine branches in Anchorage, Fairbanks, Juneau, and Wasilla and $336 million in assets, security is a department unto itself, charged with developing and implementing...

  • Phishing Fraudsters Continue Casting Wide Net as Hack Attacks Reach 20 Years

    HELSINKI, Finland - Twenty years after the first PC virus was set loose, organized criminal gangs are flooding the online world with increasingly wide phishing scams. That's the view from F-Secure Corp., the international Internet security firm, which found in a recent scan of top-level domain names (.com, .net, .biz,...

  • Online Resources Completes Purchase of Princeton eCom

    CHANTILLY, Va. - Online Resources Corp. has completed its acquisition of payments processor Princeton eCom for $180 million in cash and an earn-out of up to $10 million. Online Resources now serves more than 2,200 financial institutions and 1,600 billers and says it expects to process more than 200 million...

Special Report

  • GAHANNA, Ohio - KEMBA Financial Credit Union has moved its headquarters to Gahanna.

    KEMBA Financial's recent growth and its upcoming merger with Core One Credit Union has created the need for additional office space and room for expansion. The new facility is 37,000 square feet and located just off of 1-270 and Hamilton Road in Gahanna. According to KEMBA CEO Jerry Guy the...

  • Travis CU Hosts Hawaiian Grand Opening Event

    DAVIS, Calif. - Travis Credit Union held a Hawaiian inspired celebration to mark the opening of its new Davis branch. A Hawaiian getaway-for-two prize, valued at $2,500, along with plastic leis and sun visors set the stage for its Hawaiian-themed grand opening celebration. Other deals included piggy banks for kids...

  • First Missouri Opens First New Branch

    ST. LOUIS - First Missouri Credit Union opened the door to its first new branch. "Our credit union began serving members in 1927," said Steve Ogolin, credit union president." "We were the first credit union in the state to open our doors. The opening of our first branch is a...

  • TORONTO fast facts

    Toronto is ranked one of The Economist's Top Ten Most Livable Cities.

  • Houston Texas Fire Fighters FCU Board, Execs Dig into New Facility

    Houston - Houston Texas Fire Fighters Federal Credit Union has broken ground on its new North Branch location. With that, construction has begun on the credit union's full service 3,200 square-foot facility. Modeled after an old fire station, it will include a two lane drive-thru and ATM. The property was...

Letters to the editor

  • Thanks for the Concern

    Words alone cannot describe my appreciation about the concern for my feelings about Lafayette FCU's conversion attempt expressed by Paul Gentile in his editorial dated June 28. It is certainly good to have the editor-in-chief express his concern for my feelings rather than his contempt for my actions. Mr. Gentile...

  • Second Guessing as Blood Sport

    Editor-in-Chief Paul Gentile's column in the June 28 issue demonstrates the temptation and danger of constant second-guessing that is rampant in our movement. Mr. Gentile is critical because NCUA Vice Chairman Rodney Hood had the temerity to address the N.C. bankers to let them know that there was a lot...

  • Canceling Card Programs Isn't the Answer to Combating Fraud

    With daily reports in the media about identity theft and security compromises, many people both inside and outside the payments industry are incorrectly concluding that fraud is a crisis. Certainly, fraud damages the credit of thousands of consumers and generates significant losses to credit unions and other financial institutions. But...

People

  • SOUTHWEST

    U.S. New Mexico Federal Credit Union, Albuquerque, N.M., has named Randy Hill its new human resource director. Security Service Federal Credit Union, San Antonio, has promoted Ruby Mata to manager of its Nacogdoches Service Center. The CU has also named Tina Conchin director of MIS projects.

  • WEST

    Kinecta Federal Credit Union, Manhattan Beach, Calif., has named Jasiri Daire, manager of mortgage loan sales. Rogue Federal Credit Union, Medford, Ore., has promoted Heston Charlton to special services manager.

  • MIDWEST

    Teachers Credit Union, South Bend, Ind., has promoted Rick Nettesheim to executive vice president - chief operating officer and Waylon Peterson to senior vice president of investment services, trust services and IRAs. Postal Credit Union, Woodbury, Minn., has promoted Kelly R. Johnson to vice president of member remote services and...

Beyond the Job

  • OSU Federal CU's DiTorrice Highly-Sought Fossil Expert

    CORVALLIS, Ore. - As a child, Guy DiTorrice said his parents didn't have a lot of money for him to buy toys and games. Instead, they encouraged DiTorrice to use the outdoors as his playground. He followed suit collecting seeds, rocks and anything else he could find. DiTorrice, who now...

  • TORONTO fast facts

    The CN Tower is the world's tallest building at 553.33 m (1,815 ft., 5 inches). It has the world's longest metal staircase and world's highest wine cellar as well.

  • Beyond the Job

    If you have something you would like included in Beyond the Job contact the Credit Union Times reporter you typically deal with or call Editor-in-Chief Paul Gentile at (973) 270-2410 or e-mail pgentile@cutimes.com. Please note, color photos, preferably of the person doing one of their Beyond the Job activities, should...

  • Fogle Sees Sailing as Relaxing and a Mind Game at the Same Time

    DURHAM, N.C. - When you lease a slip, you probably should have a boat first. But Duke University Federal Credit Union CEO Lee Fogle jumped into things a little backward. "I leased a slip before I even had a boat," he explained with a chuckle. Then all he needed was...

  • D.Hilton Associates is About Much More than Executive Recruiting These Days; Founder Keeps his Eye on the Future

    THE WOODLANDS, Texas - Whether David Hilton cares to admit it or not, many in the industry view him as sort of a "king maker" for his ability to place people in executive level credit union jobs. It's the ultimate compliment for Hilton and his firm D. Hilton Associates, which...

  • Kankakee County Federal Employees FCU CEO Born to Ride

    KANKAKEE, Ill. - You could say Kankakee County Federal Employees Federal Credit Union CEO Carol Hunger was born into motorcycles. "Since my father collected them we grew up with the bikes," said Hunger. "When he died my brothers and I each inherited one of his four motorcycles." Since that time...

Opinion

  • Credit Unions, Banks and Congress: `No Man is an Island'

    In reading some recent credit union commentary, including a June 28 column by Paul Gentile, I couldn't help but think of the words of John Donne: "No man is an island, entire of itself." While Donne, in declaring that "every man is a piece of the continent, a part of...

  • Member Segmentation Gives Competitive Edge to Credit Unions

    The demands on credit union marketers are more challenging every day. Competition from banks and others is greater than ever, and marketing budgets are not necessarily growing with the increased competition. To be successful, credit unions need to effectively stretch marketing dollars while maximizing member relationships, increasing wallet share and...

Billlionaires Club

Publisher's Column

  • It's Time to Bring Consolidation Out into the Open

    "It was the best of times, it was the worst of times." That's a prophetic famous line from A Tale of Two Cities that accurately describes what's happening in the credit union industry. Credit unions are different in so many ways. There are still single-sponsor CUs out there, some are...

Publisher's Notebook

  • PR: The Basics Count

    Credit Union Times is fortunate to be on the press release list for thousands of credit unions. Truth be told, our e-mail boxes are flooded with press releases every day, and we welcome all of them! But it would be nice to see a return to the basics. Too many...

Advertisement. Closing in 15 seconds.