Credit Union Times Magazine March-08, 2006

News

  • NCUF Donates Nearly $27,000 to WOCCU

    NONE

  • Koppel Criticizes Media Focus on Now Rather Than News

    WASHINGTON-Self-professed Luddite, former Nightline Anchor Ted Koppel, lamented how technology has changed the media and our lives "not always for the better." He recalled the "old days" of news reporting when he was covering the Vietnam War and how he could barely get garbled messages through the Telex system and...

  • Vsoft, IMM Join Forces

    LAS VEGAS - Integrated Media Management (IMM), which specializes in output management and document automation technology, and VSoft Corporation, a global information and technology provider of process improvement tools, have teamed up to offer financial institutions more Check 21 options. IMM will offer VSoft's Branch Item Capture, eDesk Genesis, and...

  • Checking Into Remote Capture: What Credit Unions Ought to Consider

    When the Check Clearing for the 21st Century Act took effect some 16 months ago, it paved the way for what many describe as the greatest advance in check-processing technology since the MICR line - the ability to perform remote capture and transmit electronic image cash letters (ICLs). For most...

  • CUNA in the Green: $1.5M Operating Margin

    WASHINGTON-CUNA's unaudited financials, as reported during the Governmental Affairs Conference, show the trade association in a strong financial position heading into 2006. According to the report during the Annual General Meeting by CUNA Treasurer Tom Dorety, CEO of Suncoast Schools Federal Credit Union in Tampa, Fla., CUNA had an operating...

  • CUNA Looking to Move GAC

    WASHINGTON-CUNA is continually breaking records for attendance at the Governmental Affairs Conference and they are beginning to feel a bit cramped. About 4,200 people attended this year's GAC and much of the general sessions and breakouts were standing room only. Due to contractual obligations, the trade association will be holding...

  • NFCDCU Moves 2007 Annual Meeting to New Orleans

    WASHINGTON - Meeting in Washington in conjunction with CUNA's Governmental Affairs Conference, the National Federation of Community Development Credit Unions' Board has voted to move the organization's annual meeting in 2007 to New Orleans in order to help support the rebuilding effort in the region. "We aren't a huge conference,...

  • State, Federal Charters Should Work Together to Preserve CUs

    WASHINGTON-The strength and health of the credit union community lies with a strong dual chartering system, NASCUS Chair Linda Jekel director of credit unions for Washington state, said. "Dual chartering also allows the system to effectively work together on common challenges - this function of the dual chartering system could...

  • Emotions Run High at Herb Wegner Memorial Awards Dinner

    WASHINGTON - The Herb Wegner Memorial Awards Dinner is always a special event at CUNA's GAC, and this year's edition was no different. A powerful video presentation on credit unions' efforts in disaster relief for Hurricane Katrina started the dinner on an emotional note. During the video, USA FCU CEO...

  • Hyland Expresses `Glass-Half-Full' Attitude about CU Challenges

    WASHINGTON-NCUA Board Member Gigi Hyland encouraged credit unions to look at their current challenges as opportunities. She emphasized that NCUA's efforts to begin documenting credit union service to members of modest means is only a pilot program. "I am absolutely opposed to imposing CRA-like requirements on credit unions," Hyland, the...

  • Treasury Officials Thank CU Organizations for Work on PCA Reform, More to be Done

    WASHINGTON-Emil Henry, assistant secretary for financial institutions, said Treasury appreciates all the work credit unions and their representatives have done on a risk-based capital framework but is not quite ready to put its seal of approval on it. "This work has led to a number of positive proposals, such as...

  • League Service Corps. Working with CUs To Get Comfortable with Image Exchange

    WEST PALM BEACH, Fla. - While the rest of the financial world has been busy getting itself image-enabled since October 2004 when Congress passed Check 21 legislation, credit unions have been leveraging their head start with truncation to implement the technology with their credit union clients. In fact, league service...

  • Credit Unions Can Help Prop Up Savings

    WASHINGTON-Credit unions are equipped to fight the declining rate of personal savings in the United States, Congressman Paul Kanjorski (D-Pa.) stressed to GAC attendees. After speaking out against the huge national deficit and lamenting the negative personal savings rate of Americans, the credit union advocate touted credit unions as part...

  • Top Government Officials Back Tax-Exemption at GAC

    WASHINGTON-Legislator after legislator took the podium during CUNA's GAC in support of credit unions' tax-exemption. They were met with standing ovations. *Senate Majority Leader Bill Frist (R-Tenn.) told credit unions we are an `over-taxed' nation. "We, I, on behalf of our legislative body, absolutely support the current [tax] exemption for...

  • Hood: Strong CU System Comes From Communication, Action

    WASHINGTON-Communication, tied to action, is the way to maintain a strong credit union system, NCUA Vice Chairman Rodney Hood said. Hood stated, "Communication requires more than just listening. It requires action." He said that he and the agency had to be willing to adapt to credit unions' needs to fulfill...

  • Special Report: Check 21/Image Exchange

    Credit union check processors continue to gear up for image exchange of checks. Turn to pages 22-27 for the latest developments.

  • Congressman Otter's Family Gets Entrepreneurial With Credit Union

    WASHINGTON-A credit union took a chance on Congressman Butch Otter's (R-Idaho) family business when no one else would. His father tried to get a loan from a bank to start a small dairy but was turned down. The Otters' credit union came to the rescue though. "That credit union took...

  • Credit Union Difference the Reason for Tax-Exemption, Sarbanes Says

    WASHINGTON-The treatment of nonprofit credit unions is different from other financial service providers because of their structure and the work they do, Senate Banking Committee Ranking Member Paul Sarbanes (D-Md.) told GAC attendees. "It is very important for the credit union movement to keep in mind that there are very,...

  • First NCUF Breakout Session a Crowded Success

    WASHINGTON - The National Credit Union Foundation's very first breakout session at CUNA's Governmental Affairs Conference drew a stranding room only crowd as credit union executives and directors crowded in to hear four executives describe how their CUs had used grants from the Foundation to help them make real change...

  • Congressman Michaud Pumps CU Reps Up For Hill Visits

    WASHINGTON-Congress-man Mike Michaud (D-Maine), a former credit union board member whom credit unions rallied behind to get elected when he first came to Congress, impressed upon credit unions that every one makes a difference. "In reality, what you're doing here today does make a difference," he said; lawmakers do listen...

  • Johnson: NCUA "Not About to Impose CRA" on Credit Unions, Tough on Conversion Disclosures

    WASHINGTON-Service to members of modest means is recent and not the only job of credit unions. In remarks to CUNA's Governmental Affairs Conference, NCUA Chairman JoAnn Johnson told participants that the term `modest means' only came about with the 1998 passage of the Credit Union Membership Access Act. She added,...

  • 1st National Bank Holding Co. Selects NetDeposit

    SALT LAKE CITY - The Southwest's largest privately-held bank 1st National Bank Holding Company has tapped NetDeposit, Inc. as its remote deposit capture solution provider. The bank will offer clients NetDeposit's newly launched turnkey solution NDpro Managed Services. 1st National Bank Holding Co. operates retail institutions 1st National Bank of...

  • Check 21 Solution Helps Rutgers University Student and Alumni FCU's Growth Strategy

    NEW BRUNSWICK, N.J. -Rutgers University Student and Alumni Federal Credit Union (RUSA FCU) President Ken Buren has found that it pays to take the time to find the right Check 21 fit. "About a year ago we started looking into Check 21 and at the time I thought it was...

  • Royce Expresses Cautious Optimism on CURIA

    WASHINGTON-With 108 co-sponsors to the Credit Union Regulatory Improvements Act (H.R. 2317), it is off to a good start. But doubling that would be better, Congressman Ed Royce (R-Calif.) said. He urged credit unions to encourage their lawmakers to co-sponsor the bill during their visits last week. Royce is the...

  • Some Credit Unions Turn Checking Accounts Into PFI Superglue

    WEST PALM BEACH, Fla. - With so much focus on image exchange, share draft penetration isn't getting as much attention. The fact is many credit unions are trying to boost share draft penetration in order to become the primary financial institution for more members. A new Callahan and Associates report...

  • NetDeposit Launches NDpro Managed Services

    SALT LAKE CITY - NetDeposit, Inc. (www.netdeposit.com), a Check 21 software and remote deposit capture solutions provider, has recently unveiled NDpro Managed Services. For financial institutions, NDpro Managed Services provides a hosted, SAS70 Type II-compliant remote capture, clearing and IRD printing solution. The new offering enables banks of all sizes...

  • "Deliver Our Message," Mica Urges

    WASHINGTON-CUNA President and CEO Dan Mica encouraged credit union officials to be respectful to the lawmakers they meet with during their visits on Capitol Hill but get their point across. "Be respectful, don't be rude, but be forceful," Mica recommended. "Credit unions don't want this war.Consumers don't want this war.The...

  • GAC Uncovered

    If you happened to miss CUNA's GAC, don't worry. Extensive coverage of the event can be found on pages 28-38.

  • Dowdell Joins RemoteDepositCapture.com

    PARSIPPANY, N.J. -RemoteDepositCapture.com can now count industry veteran Chris Dowdell as its latest addition. Dowdell brings check processing, payments systems, technical and industry standards expertise to his new position here with over 25 years experience in check processing and payments system products at industry-leading organizations including Chase Bank and BancTec....

  • Flaws in Bankruptcy Reform Surfacing, But Overall an Improvement

    WASHINGTON-Bankruptcy attorney Charles Williams, with Blalack & Williams, told a very crowded break out session during CUNA's Governmental Affairs Conference that the bankruptcy reform law is a pretty good deal. "It's a very good piece of law," Williams stated. "It's working very good here in early 2006." He pointed out...

  • Credit Freezes Debated at GAC

    WASHINGTON - A representative from the Consumer Data Industry Association and a lobbyist who works with the Delaware Credit Union League debated some of the finer points of so-called credit freezes, procedures by which consumers can prevent credit reporting agencies from selling their credit reports for opening new credit applications....

  • Oxley Asks CUs to Focus on Reg Relief

    WASHINGTON-While acknowledging credit unions' interest in moving the Credit Union Regulatory Improvements Act, House Financial Services Committee Chairman Mike Oxley (R-Ohio) told credit unions that right now is the time to push for regulatory relief legislation. "The Credit Union National Association is one of the strongest grassroots organizations I have...

In Other News

  • BRANCHING OUT

    Greater Cincinnati Credit Union, North College Hill, Ohio, will break ground on a new 4,300 square-foot branch here. The new branch designed by design/build firm DEI Inc., signifies the credit union's dedication to the re-growth of North College Hill. The new facility will include many updated technology features including multiple...

  • MILESTONES

    Earthmover Credit Union, Oswego, Ill., Loan Officer Lisa Miller has been recognized for 10 years of dedicated service. To honor Miller for her many years of service she was presented a certificate and congratulatory clock as a token of appreciation for her commitment to ECU. Miller started working at ECU...

News Briefs

  • ACB Lobbyist Promoted, Hires Accounting Policy Expert

    WASHINGTON-America's Community Bankers recently announced the promotion of one of its lobbyists following Dan Berger's move to head up NAFCU's lobbying team. Greg Mesack was promoted to director of government affairs earlier this month after having joined ACB in July 2004. Mesack holds a bachelor's in political science and history...

  • NCUA Veteran Named Deputy Executive Director

    ALEXANDRIA, Va.-The NCUA Board has approved Region IV Director Jane A. Walters as the agency's new deputy executive director. "Jane Walters has been a tremendous asset to the agency. Her skills and broad experience, particularly in program matters, will greatly assist me as the agency continues to address new and...

  • Corrections

    A news brief with the headline "Members Business Services Names Gonzales New CEO" that appeared on page 11 in the Feb. 15 issue included the wrong logo for Members Business Services. The correct logo is pictured here. We regret the error.

  • New York State Credit Union League Districts Now Called "Chapters"

    LATHAM, N.Y. - In a move to better differentiate the New York State Credit Union League's districts from congressional districts, the league is now referring to its 14 districts as "chapters." The league said the move was also made to bring the chapters in alignment with a number of other...

  • NAFCU Addresses Interest in BSA with New Newsletter

    ARLINGTON, Va.-NAFCU has launched a newsletter to keep busy credit union executives up-to-date on the Bank Secrecy Act in a short and to-the-point manner. The BSA Blast is just that-a blast of the basic information for readers to investigate more in depth on their own time. The monthly two-page newsletter...

  • NCUA Offers Proactive Tips for Yield Curve Changes

    ALEXANDRIA, Va. - There are several scenarios credit unions might want to consider to prepare for an "inevitable" change in the yield curve, NCUA recently suggested. There's currently not much difference between short-term share deposit rates and investment yields making it difficult for some credit unions to keep return-on-assets from...

  • ABA to Continue Courtroom Battles with NCUA

    WASHINGTON-The American Bankers Association is looking for opportunities to continue to challenge NCUA decision in the courts, according to Chairman Harris Simmons, CEO of Zions Bank. In a recent column in ABA Banking Journal, he stated that the ABA will continue to educate federal lawmakers "about the competitive inequalities that...

  • Jury, 17-Year Veteran of Iowa Credit Union League, Named CEO

    DES MOINES, Iowa - Pat Jury, vice president of the Iowa Credit Union League, has been tapped by the League's board to succeed retiring president/CEO Tom Griffiths, effective July 1. Jury began with the league in 1989 as director of government affairs. He's been vice president since 1993. Griffiths announced...

Lending

Marketing

  • Ent Names New Marketing VP

    COLORADO SPRINGS, Colo. - Ent Federal Credit Union has named Jan Johnson Wondra vice president for marketing and eCommerce. She will be responsible for identifying, developing and implementing strategies and marketing programs that drive the growth of existing financial services as well as growth in new service development, new market...

  • Freedom FCU Sponsors HS Scoreboard

    BEL AIR, Md. - With the installation of a state-of-the-art electronic scoreboard, Edgewood High School sport fans have a lot to cheer about. According to school execs the scoreboard, which features the Freedom Federal Credit Union logo, is the most advanced of its kind in any high school in the...

  • CU Conferences Announces Marketing Award Winners

    LAS VEGAS - There were two standout marketing award winners at this year's CU Conferences' Business Development Select Employee Group Conference. Walking away with top honors in the annual "Share your Successes" competition was First Entertainment Credit Union. Seeking to recruit younger generations of members, the campaign featured a variety...

  • California-Nevada Youth Involvement Network Unveils New Look

    RANCHO CUCAMONGA, Calif. - With the new year the California and Nevada Youth Involvement Network - formerly the California Youth Involvement Network - has revamped its logo. "The updated logo design combines the spirit of the original logo with a progressive new look," said CNYIN Board Chairwoman Marissa Lott, marketing...

Special Report

Letters to the editor

  • All Sizes of CUs Benefit From Cooperative Ads

    Some say a national marketing campaign disproportionately favors large credit unions. That may not be the case. Credit unions of all sizes benefit from cooperative advertising when educating the two out of every three Americans who are not yet members, about the credit union difference. This is best done through...

  • Just Who Are the Underserved?

    Editor-in-Chief Paul Gentile's Feb. 22 column on NCUA's data collection program repeatedly references "serving the underserved." My challenge is, I don't know what "serving the underserved" means - it's vague, has no legal basis that I'm aware of, and smacks of euphemism. I would suggest as an industry we should...

  • Bone: Scott Off Base on Volunteer Representation

    I need to correct some information in Jim Rubenstein's article, entitled "NAFCU At-Large Candidates Share Candid Views on Industry" in the Feb. 15 issue. Bob Scott indicates that the Maryland/D.C. League Association recently appointed a new volunteer advisory committee, but they didn't appoint a volunteer to their board. At the...

Looking Back

  • CREDIT UNION TIMES Vol. 9, No. 9 March 4, 1998

    Looking back eight years ago finds the credit union industry disappointed by the Supreme Court's ruling against NCUA's interpretation of the Federal Credit Union Act. Announced on the closing day of GAC, credit union trade association leaders were united in their response of a credit union call to action. Without...

Opinion

  • Are Credit Union Conversions Fair?

    One of the essential issues regarding credit union conversions to mutual savings banks is the matter of fairness. Few would likely object to any credit union action where the members were fully informed of the consequences and consented to the action with eyes wide open. So how do we know...

Publisher's Column

People

  • EAST

    Mon-Oc Federal Credit Union, Toms River, N.J., has promoted the following employees: Lorraine Lynch to vice president of human resources/training; Andrea McKalvey to vice president of member services; Patricia Fabiano to Toms River branch manager; Jennifer Hanson to Middletown branch manager; and Jennifer M. Grande to Neptune assistant branch manager....

  • MIDWEST

    Midwest Financial Credit Union, Ann Arbor, Mich., has named Tom Gisewhite vice president of marketing. In addition, the credit union has promoted the following employees: Teresa Myers to vice president of human resources/training; Jacqueline Johnston to assistant vice president of compliance and internal audit; Gautam Kamalapurkar to member service manager;...

  • WEST

    Global Credit Union, Spokane, Wash., has named Jackie Cardle real estate lending manager and Susan Sprecher and Philip Bruni real estate loan officers. Nevada Federal Credit Union, Las Vegas, has named Robert LaJoie business lending officer.

  • SOUTH

    Memphis Area Teachers' Credit Union, Tenn., has named Myrna Austill Covington branch director. IBM Southeast Employees' Federal Credit Union, Boca Raton, Fla., has named Curtis Boorse business relationship manager.

Advertisement. Closing in 15 seconds.