Credit Union Times Magazine March-15, 2006

  • Musicians' Credit Union Merges with Interguild Federal Credit Union

    HOLLYWOOD, Calif. - In what they're describing as a "harmonious transaction," Musicians' Credit Union has merged with Interguild Federal Credit Union effective Feb. 28. The new entity, Musicians Interguild Credit Union, will have combined assets of nearly $80 million. Membership will be available to anybody who lives, works or worships...

  • CUNA Making Lemonade with Front-Page Exposure of CU-Bank Battle in WSJ

    WASHINGTON-While the credit union-bank battle over taxation got major national exposure making the front cover of the Wall Street Journal for what is probably the first time in history, a number of misconceptions that have been spread by the banks were in the story. While CUNA said these should be...

  • Potential Credit Union Merger Not Impacted by Existing State Farm Bank

    BLOOMINGTON, Ill. - The launch of State Farm Bank in 1999 will not impact the proposed merger of the 12 credit unions that serve State Farm Insurance Co. employees, a company spokesperson said. State Farm Bank opened in May 1999 after being granted a federal savings bank charter from the...

  • Rise of Vantage CU CEO from Teller Trainee To Top Spot Profiled

    BRIDGETON, Mo. - The rise of Hubert Hoosman from teller and loan trainee to president/CEO of Vantage Credit Union was the subject of a recent profile. Hoosman started at the $450 million credit union 24 years ago and in 1994 was named CEO. Over the past 12 years, he has...

  • CUNA Figures Show Loan Growth Waning; Loan-to-Share Exceeds 80%

    WASHINGTON-Monthly estimates produced by CUNA's economics department show loan growth slowing to a crawl and savings declining. The dollar amount of loans outstanding rose just 0.3% in January, according to CUNA's sampling, while savings fell 0.7%. The loan-to-share ratio reached 80.8%, up from 80.0%, and delinquencies held at 0.7%. CUNA...

  • Credit Unions on Sidelines as FDIC Proceeds with Wal-Mart Hearings

    SALT LAKE CITY - The banking fracas over the application of Wal-Mart Stores to open an industrial loan corporation in Utah may be shifting next month to Washington and Kansas City, but credit unions - though on the sidelines - still remain interested observers. "That debate in Utah is completely...

  • Conditions "Settling Down" at Katrina-Hit Navigator Credit Union

    PASCAGOULA, Miss. - As a Katrina survivor, Laurin Avara, executive vice president of the $230 million Navigator Credit Union, rates the comeback of his CU as pretty darn good thanks to what he calls the outstanding performance of his staff and the generous contributions from CUs across the land. "It's...

  • House Approves Reg Relief 415-2, Next Move up to the Senate

    WASHINGTON-The House overwhelmingly passed the Financial Services Regulatory Relief Act (H.R. 3505), sending a strong message to the Senate to get moving on its legislation. While the bill was on the suspension calendar-which typically leads to noncontroversial items passing by voice vote-House Financial Services Committee Chairman Mike Oxley (R-Ohio) requested...

  • Mortgage Loan Servicing Bill Fails in Virginia; CUs Get to Work

    RICHMOND, Va. - The Virginia House of Delegates' Commerce and Labor Committee failed to approve mortgage loan servicing legislation that the Virginia Credit Union League said could have had serious consequences for credit unions and their employees. Under Senate Bill 145, employees of mortgage loan servicing organizations - which could...

  • DoD Directive on Insurance Sales Expected Soon

    ARLINGTON, Va.-NAFCU has said that it expects the Department of Defense to come out with its final regulation on insurance and other sales to military personnel shortly. "The DoD authorization requires publication of a directive by 31 March," NAFCU President and CEO Fred Becker explained. He added that it is...

  • Maine's Congressional Delegation Lauds CUs for Being Valuable Part of Communities

    WASHINGTON - All four of Maine's congressional delegation including two senators and two representatives shared their strong words of praise for the role credit unions play in the lives of members and the communities they serve throughout the state at a special breakfast in the Capitol Hill complex on Feb....

  • CUNA Mutual Group's Lenders Protection Program Available in All 50 States

    MADISON, Wis. - Eighteen months into the piloting of CUNA Mutual Group's Lenders Protection Program that began in three states, the product is now available to CUs in all 50 states that want to use the default insurance program to expand their vehicle loan portfolios by lending to members with...

  • Plusses and Minuses of Banks and Credit Unions Differ in Users' Eyes

    WASHINGTON-Focus groups conducted for CUNA showed that credit union members use warmer, friendlier terms to describe credit unions than the way bank customers describe their financial institutions. Bank customers used words like `money,' `security,' `thieves,' `impersonal,' and `high fees' to describe banks, Keith Frederick, founder of FrederickPolls, found. However, credit...

  • NCUA Does Not Object to DFCU's Disclosure Documents But Urges CU to Hold Off Balloting Until Investigation Complete

    ALEXANDRIA, Va. - Apparently it took only two rounds of letters between NCUA and the $1.8 billion DCFU Financial FCU for the agency to satisfy itself that the credit union's proposed disclosure documents and ballots for its upcoming charter conversion vote met legal standards. The largest credit union in Michigan...

  • State Farm Credit Union Offices by Zone

    The way State Farm credit unions are structured mirrors the 12 regional zones created by State Farm Insurance. There is one main credit union in each of the zones and the others in that respective zone report to that one. Within each regional zone, the branch managers report to the...

  • Superheroes Unite at Amoco Federal Credit Union Annual Meeting

    TEXAS CITY, Texas - When AMOCO Federal Credit Union employees tell members they will go "above and beyond" to meet their financial needs, they dress the part to show they mean it. On President's Day, the credit union hosted more than 1,700 members at its 69th Annual Meeting and Membership...

  • Twelve State Farm Credit Unions Submit Application to Merge Into Single, $3 Billion Credit Union

    BLOOMINGTON, Ill. - Rarely does the industry see a merger of the multi-billion dollar asset magnitude among two credit unions - let alone a dozen of them - but if the credit unions that serve State Farm Insurance get the green light, that fusion may become a reality sometime this...

  • Tennessee Regulator Shoots Down VolCorp/WesCorp Merger; Wants to See More Capital Paid Out, Benefits to Members

    NASHVILLE - VolCorp and WesCorp not only have to prove that there are no safety and soundness issues related to their merger, but also that the merger will benefit the credit union members of VolCorp. Regulators typically don't get involved in the benefits of a merger, but the Tennessee Department...

  • Milazzo Carries the CU Flag at Retirement Summit; A Number of Programs Discussed that Could Aid Workers in Retirement Goals

    WASHINGTON - For its part, Campus Federal Credit Union has been making it easier to save for retirement through a matching arrangement that combines a 6% contribution on its end with a 6% contribution from employees for a total of 12%. It's the least the Baton Rouge, La.-based $319 million...

  • Massachusetts CUs Pledge $100 Million in Launch Of League's Low-Income Housing Initiative

    BOSTON - The Massachusetts Credit Union League and its affiliated credit unions have created an umbrella brand - the Credit Union Community Hope Initiative - for their community outreach and charitable activities related to low-income housing and the homeless and committed $100 million to that initiative. The monetary commitment includes...

  • Disaster Recovery Bringing Out Carolina Crowds

    GREENSBORO, N.C. - Since the topic was "disaster recovery planning," it was hardly a surprise that advance registrations took a big leap for a joint meeting held this week by the North and South Carolina Credit Union Leagues, but nobody anticipated a record turnout. "Considering what so many credit unions...

  • CUNA Mutual says Card Security Problem Has To be Solved in Order to Maintain Coverage

    MADISON, Wis. - Right now, as you read this, do you know how secure your credit union's credit and debit card programs are? If the pace of retail credit and debit card security breaches continues unabated and if credit unions continue to suffer fraud stemming from them, the losses could...

  • Fannie Mae Dealt Hard Blows by Findings of Rudman Report

    WASHINGTON - The much-awaited report by former U.S. Sen. Warren Rudman and Paul, Weiss, Rifkind, Warton & Garrison LLP commissioned by the special review committee of the board of Fannie Mae of an independent investigation of the issues raised in the Office of Federal Housing Enterprise Oversight's special examination of...

  • Fed Survey Finds Assets Climb for Minority Families, Those 35 Years and Younger

    WASHINGTON - More findings from the Federal Reserve Board's Survey of Consumer Finances for 2004 revealed an increase in assets for families headed by persons 35 years old and younger and minority families. More than 4,500 families were interviewed for the 2004 survey, which provides data on family income and...

  • House Ways and Means Chairman Bill Thomas Announces Retirement

    WASHINGTON-House Ways & Means Committee Chairman Bill Thomas (R-Calif.), who has led the effort to uncover whether credit unions and other nonprofits are earning their tax-exemption, announced last week that he would be retiring from Congress at the end of his term this year. So far, Thomas had specifically targeted...

  • Membership Off to `Moderate' Start in 2006

    MADISON, Wis. - Nearly 160,000 members joined credit unions in January, giving the industry a moderate start for the year, according to the latest CUNA Mutual Group Credit Union Trends Report. To be exact, CUs saw a net increase of 158,000 for the month. The increase is still 46,000 members...

  • New $10 Bills Now in Circulation

    WASHINGTON-Circulation of the newly redesigned $10 bills began March 2. The Bureau of Engraving and Printing has been redesigning the higher denominations of U.S. notes for security purposes as counterfeiting continues to grow. The $10 bill is the third to be redesigned with anti-counterfeiting measures such as color-shifting ink, watermarks,...

  • Former CU Leaders That Converted to Bank are Worth Millions

    CRANFORD, N.J. - More details have come to light about how at least one former credit union paid its former credit union board members and CU CEO after it became a mutual bank. As reported in February the former Synergy FCU became a mutual savings bank in 1998, adopted a...

  • PaCUSC Ads Air During Oscars

    HARRISBURG, Pa. - The second PaCUSC ad campaign in the Pittsburgh market launched on Sunday night, March 5, with two bonus spots which aired during the Academy Awards program on WTAE-TV, the ABC affiliate in Pittsburgh. The Pennsylvania Credit Union Association said the 10:34 p.m. ad drew a market share...

  • Hood Tours Georgia CUs to Learn More About Service to Modest Means

    DULUTH, Ga.-NCUA Vice Chairman Rodney Hood visited with a group of Georgia credit unions last month to glean more about their service to those of modest means. Hood stopped in Gwinnett Federal Credit Union where staff informed him of special outreach programs, such as service to the Bosnian population, financial...

  • Fed CAC to Meet on Potpourri of Issues

    WASHINGTON-The Federal Reserve Board announced last week that its Consumer Advisory Council will meet March 30. Items on the agenda, time permitting, include home equity lending hearings, nontraditional mortgage products, Electronic Fund Transfer Act/Regulation E interim final rule, and Truth in Lending Act/Regulation Z. The meeting is open to the...

  • LA DOTD FCU, Identity Theft 911 Team Up

    BATON ROUGE, La. - LA DOTD Federal Credit Union of Louisiana has joined forces with Identity Theft 911 to help protect its members from identity theft. This partnership will offer free identity resolution services should their members become victims of identity theft, and will also provide them with proactive education...

  • 113 Lawmakers Now Support the Bill

    WASHINGTON - Five lawmakers have added their names to the growing list of co-sponsors to the Credit Union Regulatory Improvements Act (H.R. 2317) bringing the grand total to 113. Representatives Tom Lantos (D-Calif.), Eddie Bernice Johnson (D-Texas), Alan Mollohan (D-W.V.), Carolyn Kilpatrick (D-Mich.), and Ted Poe (R-Texas) signed up to...

  • Clarke American Expands Personal, Business Check Design Lines

    SAN ANTONIO, Texas - Clarke American has added seven new designs to its personal check line and new business check products for small business account holders. The new personal check designs range from stylish Art Deco to tongue-in-cheek humor to romantic impressionism - Bon VoyageT, Erika Oller, Peaceful PlacesT, PsalmsT,...

  • Former Congressman Cunningham Gets Eight Years for Bribery

    SAN DIEGO-Former California Congressman Randy `Duke' Cunningham (R) received more than eight years in prison for tax evasion and conspiracy to commit bribery. Cunningham had been a co-sponsor to the Credit Union Regulatory Improvements Act (H.R. 2317) until he resigned his seat late last year after pleading guilty to taking...

  • CFE FCU Joins Billion Dollar Club

    ORLANDO, Fla. - Add CFE FCU's name to the roster of $1 billion CUs. The credit union reached the milestone in the last quarter of 2005, capping what it said was a year of substantial loan growth and several prestigious recognitions among which was being named the Best Credit Union...

  • Ten CUs Seek to Bring Some OmniAmerican Customers Back to Being Members

    FORT WORTH, Texas - Ten credit unions ran a full page advertisement in February to let some of the former OmniAmerican FCU's members know that they still have a credit union option if they want one. OmniAmerican, based in Fort Worth and Community CU, based in Dallas, became mutual banks...

  • CMN Patient to Provide Entertainment at Pre-Cherry Blossom Race Gala

    WASHINGTON-Eleven-year-old Christopher Young, who was chosen to represent D.C. in the Children's Miracle Network "Champions Across America," will be performing at the March 31 Credit Union Cherry Blossom 10-Mile Run pre-race Gala. CMN selects one child from every state each year who has overcome severe medical problems to represent the...

  • MEMBERS Capital Advisors Welcomes New Investment Managers

    MADISON, Wis. -MEMBERS Capital Advisors, a subsidiary of CUNA Mutual Group, has hired two new investment managers. Livia Asher has been hired as a senior investment officer to manage the MEMBERS Mid Cap Value Fund within MEMBERS Mutual Funds and to serve as the analyst for stocks in the nonbank...

  • DCUC Conference Concludes at Arlington National Cemetery

    WASHINGTON-Following remarks from NCUA Chairman JoAnn Johnson and educational sessions at its Defense Issues 2006 Conference, the Defense Credit Union Council ended its day with a solemn ceremony at Arlington National Cemetery's Tomb of the Unknown Soldier. Four members from the DCUC Board participated in a Feb. 25 wreath laying...

In Other News

  • AWARDS

    Army Aviation Center Federal Credit Union, Daleville, Ala., earned three silver and one bronze awards at the recent Southeast Alabama Advertising Federation's Addy Award Competition. The competition honors excellence in marketing and advertising. The CU's TV ad promoting online mortgage applications, the annual report to members, and a full-color print...

  • BRANCHING OUT

    Randolph-Brooks Federal Credit Union, San Antonio, has broken ground for the relocation of its Brooks Branch. The new branch will be easily accessible to members living in South San Antonio and features a full-service lobby, six drive-thru teller lanes, and two drive-up ATMs. The current location will remain open until...

  • DONATIONS

    1st United Services Credit Union, Pleasanton, Calif., participated in Alameda County Community Food Bank's Holiday Food Drive to do its part to help the hungry families within the greater Alameda area. In addition to its donation of collected food items, 1st USCU contributed $2,500 for additional support. Alameda County Food...

News

  • Allegacy Realty LLC is Allegacy FCU Members' One Stop Service for Buying, Selling Homes

    WINSTON-SALEM, N.C. - Selling a home is difficult enough, but add to that the prospect of also buying a new home and the ordeal can be pretty hefty as any homeowner can attest to. Allegacy FCU's new real estate services CUSO is making the job easier for the CU's members,...

  • Collaborative CUSOs an Idea that Takes Getting Used to

    LENEXA, Kan. - Jeff Kline and Lisa Renner have been around CUSOs long enough to know that when it comes to NACUSO's new collaborative business model, it might take CUSOs awhile to acclimate to the new strategy. But they're also certain it will be well worth CUSOs' patience and perseverance....

  • FCUL Service Group Wins Two Silvers in 2006 ADDY Awards

    TALLAHASSEE, Fla. - The FCUL Service Group, a wholly-owned subsidiary of the Florida Credit Union League, received two silver awards in the 2006 ADDY Awards, highlighting the company's 2005 marketing efforts on several products and services targeted to Florida CUs. The ADDY Awards are the largest advertising competition in the...

  • NACUSO Flare Project Makes Collaborative CUSO Business Model a Reality for Small CUs

    WEST PALM BEACH, Fla. - In 2004 NACUSO reinvented itself and adopted a collaborative business model, and now six small credit unions in Michigan have come together through the association's Flare Project to discuss the possibility of forming a CUSO to give them purchasing power to acquire products and services...

  • Special Report: CUSOs

    CUSOs continue to play an important role in helping credit unions expand into new areas. Read the latest CUSO news in the special report on pages 22-24.

  • Ongoing Operations LLC, Business Continuity CUSO, Opens for Business

    HAGERSTOWN, Md. - Ongoing Operations LLC, a business continuity, multi-owned CUSO formed in March 2005, held its ribbon-cutting ceremony Feb. 16 to celebrate the grand opening of its 32,000 square-foot facility. The seven charter owners of the CUSO are National Institutes of Health FCU, Northwest FCU, Department of Labor FCU,...

  • CUSOS Come in Variety of Flavors

    Despite the expansion of credit unions' incidental powers, CUSOs still serve an important role and provide vital services to credit union members and nonmembers. As the chart below from Callahan & Associates shows, the largest multi-owned CUSOs run the wide gamut of services CUs offer including credit card services, ATM...

  • NACUSO Introduces New 2006 CUSO Collaboration and Cooperation Award

    NEWPORT BEACH, Calif. - NACUSO is shoring up its support behind its new collaborative business model with an award it will present for the first time at its upcoming annual conference. The association's 2006 CUSO Collaboration and Cooperation Award will be judged on five criteria: thought leadership and critical thinking;...

  • ILCs Under Scrutiny

    Credit union groups trying to get ILC charters may find the going tough as this unique charter is under increased scrutiny. Page 4.

News Briefs

  • NAFCU Defends CURIA After Joint Banker Letter Bashes It

    ARLINGTON, Va.- NAFCU defended the safety and soundness of NCUA's risk-based capital plan and other provisions of the Credit Union Regulatory Improvements Act (H.R. 2317) after the banking trades circulated a joint letter to all members of Congress opposing the bill. "NAFCU believes that the risk-based Prompt Corrective Action (PCA)...

  • Baseball Legend Ripken to Keynote NYSCUL Annual Convention

    LATHAM, N.Y. - Cal Ripken Jr., baseball's Iron Man, will deliver the keynote address at the New York State Credit Union League's 86th Annual Meeting and Convention. Ripken will speak on "The Keys to Perseverance" at the four-day event May 15-18 at the Saratoga Hotel and Convention Center. A future...

  • Former CUNA Exec Leaves Insurance Trade

    WASHINGTON-A former CUNA senior vice president has moved on yet again. Carl Parks left CUNA's top lobbyist spot in 2001 to join the Property Casualty Insurers Association of America. The insurance trade association confirmed that he exited his post there a few weeks ago. While at CUNA, Parks was involved...

  • Musmann Named President/ CEO First Financial CU

    WEST COVINA, Calif. - The board of directors of First Financial Credit Union has named Carlton Musmann president/CEO of the $600 million credit union. Musmann began his career with First Financial as vice president of remote delivery, advancing to senior vice president in 2000 and executive vice president in 2003....

  • Dade County FCU, Miami Beach FCU Merge

    MIAMI - Dade County FCU, $400 million in assets and more than 79,000 members, has merged with the $6 million, 1,500-member Miami Beach FCU. Formed as the credit union exclusively for county employees in 1939, DCFCU converted to a community charter in 2003, which opened membership up to anyone who...

  • "Unfair" Competition from CUs Among ICBA's 2006 Priorities

    WASHINGTON-The Independent Community Bankers of America has listed "unfair credit union competition" near the top of their highest priorities for 2006. ICBA released the list of priorities during its National Convention and Techworld. Credit unions ranked third among nine priorities for this year with just the Communities First Act, legislation...

  • ABA Troubled by Snow's Support of CU Tax-Exemption

    WASHINGTON- American Bankers Association President and CEO Ed Yingling wrote Treasury Secretary John Snow to express their concern regarding his remarks during CUNA's Governmental Affairs Conference in support of the credit union tax-exemption. "Last March, when you were kind enough to speak to the ABA Spring Summit," Yingling wrote in...

Regulatory/Compliance

  • NCUA, FDIC Hold Deposit Insurance Modernization Briefing

    WASHINGTON-NCUA and the FDIC have invited interested parties to attend a briefing explaining how the federal deposit insurers plan to proceed in updating the systems following the passage of the Deposit Insurance Reform Act of 2006. The new law will increase deposit insurance coverage of individual retirement accounts and Keoghs...

  • NCUA: CUSOs Can Assist CUs In Providing Payroll Services

    ALEXANDRIA, Va. - CUSOs can assist credit unions in providing payroll services to CUs' business members, however says NCUA, they cannot provide them directly to credit union members. In a letter to NCUA Associate General Counsel Sheila Albin, NACUSO General Counsel Guy Messick proposed a situation where members would contract...

  • CardSystems, Now a New Firm, Walks Away Without Fine

    WASHINGTON - CardSystems Solutions, the Atlanta-based firm that was implicated in the biggest card data security compromise to date and which has been purchased by Pay By Touch, a card processing firm which specializes in biometrics, has walked away from the incident without a fine. The Federal Trade Commission announced...

  • NCUA Notifies Credit Unions Of 5300 Changes

    ALEXANDRIA, Va.-NCUA recently wrote federally insured credit unions to inform them of changes to the 5300 Call Report that will take effect for the June 30, 2006 cycle. NCUA made the changes to its 5300s so that all federally insured credit unions will file the same forms quarterly. The changes...

  • Kroszner Takes Office at The Fed

    WASHINGTON-Randall S. Kroszner was sworn into his new post as Federal Reserve Board governor by Chairman Ben Bernanke March 1. President George W. Bush announced his intent to nominate Kroszner on Jan. 27 and the Senate confirmed him on Feb. 17. He replaces Edward M. Gramlich, who resigned on Aug....

  • NCUA Director of External Affairs to Exit

    ALEXANDRIA, Va.-NCUA Director of External Affairs Nicholas Owens has announced that he will be leaving the agency this month. After he departs March 24, he plans to continue public service but would not disclose specifics at this time. "Nick has been a close, trusted advisor and has provided wise counsel...

  • NCUA Data Collection Pilot Given Nod by OMB

    ALEXANDRIA, Va.-Last week, NCUA announced that it has received the approval of the Office of Management and Budget to proceed with its data collection pilot program to investigate credit union service to those of modest means. OMB gave its stamp of approval under the Paperwork Reduction Act, which allows the...

  • NCUA Places Union Pacific Streamliner FCU into Conservatorship

    ALEXANDRIA, Va. - Union Pacific Streamliner Federal Credit Union was recently placed into conservatorship by NCUA. The credit union's 7,500 members will enjoy uninterrupted service, according to the agency. Deposits are insured up to $100,000 by the NCUSIF, NCUA assured. The return on average assets at the $38.7 million credit...

People

  • VENDOR

    Pemco Technologies, Seattle, has appointed Tanya Packer as director of business development responsible for growing the company's internal and external business relationships.

  • SOUTH

    Arkansas Employees Federal Credit Union, Little Rock, has named Joyce M. Judy president/CEO.

  • WEST

    Global Credit Union, Spokane, Wash., has promoted Melissa Judd to military marketing representative for the Fairchild AFB Washington branch and its branches in Italy and Jana Fare to marketing representative for both corporate and branch marketing programs. Wauna Federal Credit Union, Clatskanie, Ore., has elected two new and one returning...

  • MIDWEST

    Fiberglas Federal Credit Union, Newark, Ohio, has re-elected, for three-year terms, Maxine Binckley, Terry Frame, and Charles VanArsdale to its board. Corporate One Federal Credit Union, Columbus, Ohio, has appointed Jeff Meyer to its supervisory committee. MidWest Financial Credit Union, Ann Arbor, Mich., has announced that Tonya Coon has accepted...

  • EAST

    Sharon Credit Union, Sharon, Mass., has named Jessica St. Jean as its mortgage originator with a focus on enhanced member service.

Letters to the editor

  • Blaine Deserves the Honor

    I applaud your selection of Jim Blaine as Credit Union Times' 2005 CEO of the Year! What a fitting tribute and article to one of the great leaders of our movement. As one of over 20 former SECU branch managers who have gone on to serve as credit union CEOs,...

  • Let's All Support Wescom And Be More Supportive of Each Other

    Ladies and Gentlemen: It's time to get our collective selves, our staffs, and our members behind Wescom Credit Union's "On The Mark" initiative to bring credit cards back to credit unions! I believe, and I sincerely hope you'll join me in this belief . that Darren Williams and the Wescom...

  • From the Editor: Keep Those Letters Coming!

    Credit Union Times is proud to report that so far in 2006 every issue has contained letters to the editor. We're proud of this for two reasons. First, it's an indication that Credit Union Times is providing thought-provoking editorial coverage that is inspiring more readers than ever to write letters....

  • Letters to the Editor

    Submission by e-mail is preferred. Send to editor@cutimes.com, or mail to Revmont Park South, 1161 Broad St. Shrewsbury, NJ 07702

  • Thanks for the Kind Words

    Many thanks to Paul Gentile for his March 1 column, "Where have all the Chatfields Gone?" which focused on my four decades working to ensure that credit unions have the opportunity to help their members improve their financial lives. While there may not be as many of us who "came...

Publisher's Column

  • Synergy Shows How Ugly Things Can Get When CU Leaders Sell Out

    The events unfolding at Synergy Financial, a former credit union that converted to a bank in 1998, depict all that can go wrong when a credit union sells out. The Cranford, New Jersey-based Synergy Financial isn't doing well if you look at some popular performance ratios. Its return on assets...

Opinion

Tech Bytes

  • Fiserv Acquires Portion of CT Insurance Services, CCH Wall Street

    BROOKFIELD, Wis. - Fiserv, Inc. has acquired certain assets of CT Insurance Services and CCH Wall Street, two product lines of Wolters Kluwer Financial Services. The acquisitions, which include Xchange, Securities Registration and Producer Licensing software from CT Insurance Services and the Financial Training product line from CCH Wall Street,...

  • SACU Converts Online Banking to WRG Platform

    SAN ANTONIO - San Antonio Federal Credit Union is now running its online banking and bill pay transactions through the Wescom Resources Group data center in Pasadena, Calif. The conversion of the $1.9 billion CU's online operations onto the WRG hosted platforms coincided with SACU's conversion earlier this year to...

  • eCU Technologies Chooses SecureWorks to Protect Systems

    HARRISBURG, Pa. - eCU Technologies, the technology CUSO of Pennsylvania State Employees CU, is using SecureWorks' managed security services to safeguard its IT networks and client information. SecureWorks counts some 500 credit unions as clients. Adding eCU Technologies as a client is a ringing endorsement given the CUSO's reputation as...

  • CUNA Endorses Managed Security Tools from Perimeter Internetworking

    MADISON, Wis. - CUNA has given the nod to a utility-based managed security solution from Perimeter Internetworking that the company says is a replacement for hosted, network-based firewalls and intrusion detection monitoring systems. Called Gateway 4.0, the "security in the clouds" solution provides more than 60 pre-integrated services - including...

  • WEOKIE CU Adds Spanish Web Site

    OKLAHOMA CITY - Spanish-speaking members and nonmembers of WEOKIE Credit Union who want to view product information, rates, loan information and other information in Spanish online can now use the CU's Spanish version of its Web site. All they have to do is go to www.weokie.org, and click the "En...

Publisher's Notebook

  • We Want Your "People" and "In Other News" Releases

    Regular readers of Credit Union Times know that the last few pages of editorial before the classified ad section are dedicated to People and In Other News. While not hot or breaking news by any stretch, these pages are very popular with readers. In the People section, credit unions get...

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