Credit Union Times Magazine May-10, 2006
News
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Overdrawn
Overdraft protection programs are heavily used by those who can least afford it. Read about a new study's results on page 35.
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Special Report: EFT: Credit/Debit/ATM
Do credit union members get a bad deal when a credit union sells its portfolio to a for-profit bank? Read about that and other EFT stories in the special report on pages 22-26.
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Visa Takes First Step by Nominating Four Independent Directors; Seat Representing CUs a Possibility
SAN FRANCISCO - Visa USA took another step toward restructuring itself from being a private association of credit and debit card issuing financial institutions to being a publicly traded company by naming four new independent board members. The four new members named at an April 28 meeting were Philip DeFeo,...
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Analyst Contends Credit Card Portfolio Sales Offer Members a Raw Deal; Would You Hold this Card, She Asks?
LAKE BLUFF, Ill.- Do credit unions that sell their card portfolios to banks do their members a disservice? Ondine Irving, a former card executive and consultant who has branched out to start her own firm suggests that in some cases they have.
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Michigan State University FCU Members Charged With Money Laundering
EAST LANSING, Mich. - At least 11 students at the University of Michigan who are also members of the $1.2 billion MSU Federal Credit Union face money laundering and other charges resulting from a scheme to defraud the CU through the CU's ATMs.
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Credit Union 24 Cuts Membership Fee Minimums
TALLAHASSEE, Fla. - Credit Union 24, the credit union-owned ATM and EFT network headquartered in Tallahassee, has eliminated membership fee minimums for its member-shareholders. The decision by the EFT network's board is one of the immediate benefits of a new switch-processing agreement with Fifth Third Processing Solutions, the CU said.
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ATM Stats Reveal Mixed Picture; Can CUs Get Away with not Having Proprietary Machines?
WASHINGTON - When it comes to credit unions and ATMs, statistics show CUs are in the best and worst of times. They are the best of times because credit union-owned ATM networks such as the CO-OP and Credit Union 24 continue robust growth and steady expansion of service.
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Latino CU Starts Offering A Credit Card
DURHAM, NC - The $25 million Latino Community Credit Union, the relatively young CU formed to serve the burgeoning Hispanic population in North Carolina, has begun to offer a credit card.
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More Card Offers Sent But Draw Fewer Responses
CHICAGO - Banks sent a record number of credit card solicitations last year even as the percentage of recipients who responded to those offers dropped to a new low, according to Synovate Research, a market research firm whose Mail Monitor program tracks the industry.
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New Babies Equal More Card Debt, Visa USA Survey Finds
SAN FRANCISCO - A survey jointly sponsored by Visa USA and Redbook suggested that CUs could provide an additional service to their members and drive card usage if they were to target their card reward programs to expecting parents.
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Benefits Cards Continue the Push to be Next New Thing
NEW YORK - Benefits cards look to be the next new thing in the card industry as American Express announced it has begun to offer a benefits card which employers can use to help them and their employees manage spending attached to health savings accounts, flexible spending accounts and other...
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MasterCard IPO Estimated Worth $2.8 Billion
NEW YORK - MasterCard Inc., formerly MasterCard International, will probably make roughly $2.8 billion from an initial public offering of stock that is planned for later this year, analysts said on May 3 when the card brand filed details of its offering with the Securities and Exchange Commission.
Tech Bytes
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Free Phishing Kits Available at Cavion Plus
MOUNDS VIEW, Minn. - With phishing scams becoming more frequent and sophisticated, Internet banking solutions provider Cavion Plus is providing financial institutions free Phishing Response Kits.
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Wescom Partners with MarkMonitor to Fry Phish; Credit Unions a Prime Target of Phishers
PASADENA, Calif. - Wescom Credit Union members who took a fraudulent path to what they thought was their credit union's Web site got a friendly warning recently: a vivid red-and-black skull and crossbones instead of the CU's logo in prominent display.
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Small Businesses Willing to Switch Banks for Better Payment Options
CHICAGO - Better payment offerings could be the lure for some small business owners to switch financial institutions.
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Fiserv Names New CFO
BROOKFIELD, Wis. - Fiserv, parent company to seven credit union data processing firms, has named Thomas Hirsch as its new chief financial officer.
Letters to the editor
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The Time for Offense is Now
It seems to me that current events have given us a terrific opportunity to effectively engage the banking industry from an offensive rather than a defensive posture.
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Indeed Mr. Umholtz, a Few can `Hijack' a Credit Union
In his opinion in the April 26 issue, Marv Umholtz unwittingly highlighted the flaw with the conversion process. He wrote, "Through a gaping flaw in credit union governance rules, a miniscule fraction of a credit union's membership can hijack the institution and thwart the will of the majority."
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Letters to the Editor
Submission by e-mail is preferred. Send to editor@cutimes.com, or mail to: Paul Gentile, Revmont Park South, 1161 Broad St. Shrewsbury, NJ 07702
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Those Attacking CUs Don't Understand Them
After reading the April 26 issue, especially the letters section, I was amazed by the logic of Marv Umholtz, consultant to the conversion effort of DFCU Financial. He must be pretty high powered to get the turndown results and then criticize the outcome of the vote! Maybe Marv needs to...
People
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SOUTHWEST
EDS Credit Union, Plano, Texas, has appointed Shirley Cohen to vice president of sales and business development at its Democracy branch.
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WEST
LBS Financial Credit Union, Long Beach, Calif., has appointed Al Parent to vice president of collections; Heather Finley to vice president of marketing; and Michelle Garcia to vice president/office manager of the Newport-Mesa branch. The CU also promoted Paul Minor to vice president of residential lending. Altura Credit Union, Riverside,...
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EAST
Capital Communications Federal Credit Union, Albany, N.Y., named Ted Glowa, commercial relationship officer and Kimberly Cronin, commercial relationship coordinator. Merrimack Valley Federal Credit Union, North Andover, Mass., has appointed Bill Theofilopoulos as its new associate board member. Charter Oak Federal Credit Union, Groton, Conn., has promoted Namie Tedford to manager...
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UNCLE CU CEO Jim Ott Shares his Perspective on Working with `Little People' On Television Documentary
LIVERMORE, Calif. - At local chamber of commerce meetings, Jim Ott and Joe Foos crossed paths many times and eventually struck up a friendship that has endured for the last three years.
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Service Credit Union Cranks Up Production of Emergency Heating
PORTSMOUTH, N.H. - High heating costs, bad weather early in the season and press coverage about the crunch contributed to Service Credit Union funding 37 Community Emergency loans this past winter, said Karen Benedetti, Vice President, Marketing. The $1 billion Service has been offering the loan since November 2003, but...
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USDA Announces Grants to Study Economic Impact of Cooperatives
WASHINGTON - Agriculture Secretary Mike Johanns recently announced $495,000 in competitive funds for institutions of higher learning to look into the economic impact of cooperatives. A U.S. Department of Agriculture spokesperson said that credit unions would be included in the research but there would not be any specific research of...
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Ceto and Associates Reports Steady Growth in First Quarter
ATLANTA - Ceto and Associates, a national consulting firm providing revenue enhancement solutions for the financial industry, reported steady strides in the first quarter. The firm provided its revenue enhancement solutions to 56 new financial institutions with combined assets of nearly $30 billion, enhancing its revenue by 21% when compared...
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CFA Launches Consumer Web Site on Payday Lending
WASHINGTON - The Consumer Federation of America has launched a new Web site designed to help consumers and policymakers combat payday lending.
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Corporate One Launches Final Phase of Image Exchange; the Cost Savings Begin
COLUMBUS, Ohio - Corporate One FCU said it has beat most of the competition and rolled out the final stage of its image exchange solution, which will enable participating credit unions to get the full cost benefits of image exchange.
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CUES Names Financial Supplier Forum Suppliers of the Year
MADISON, Wis. - Creditor Resources, Inc., Strunk & Associates, L.P., and Weber Marketing Group have the distinction of being the 2006 CUES FSF Suppliers of the Year.
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DealerTrack Hits Milestone - 225 Active Financing Sources on Network
LAKE SUCCESS, N.Y. - Barely five months into 2006, and DealerTrack Holdings Inc. has achieved another milestone. The online network of dealers, financing sources and other providers said the number of active financing sources connected to DealerTrackT on-demand network has reached 225, up from 201 financing sources at the end...
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The Credit Union Side of H.R. 3505
WASHINGTON-The House has overwhelmingly passed regulatory relief legislation a couple of times and now the Senate appears poised to move on its bill with a markup of the legislation occurring just after press time May 4. While the House bill contains more than a dozen provisions tailored to credit unions-and...
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OnPoint Community CU Shows How CUs Faced with Card Breach Can Manage the Media's Message
PORTLAND, Ore. - It started as a credit union public relations executive's nightmare. It ended as an opportunity for the CU to build confidence among its members and bridges to the local media.
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New Horizons Community CU Taken Over by Regulators; Board and Management Ousted
DENVER - Faulty construction and indirect loans, a portion subprime, apparently were major factors in the April 25 regulatory takeover of the $296 million New Horizons Community Credit Union of Denver, the state's 10th largest, CU insiders reported last week. The sudden decision by NCUA and state regulators to form...
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Mountain America SVP Blasts Through Comfort Zone -Makes 30 Women to Watch List
WEST JORDAN, Utah - For Women's Financial Services Network, Select Member Services and Business Services Senior Vice President Annette Zimmerman, the "comfort zone" is meant to be breached.
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Mortgage, CUSO Experts Building Holding Company for New National Mortgage CUSO to Get More CUs Involved in Mortgage Market
HIGHLANDS RANCH, Colo. - Credit union mortgage experts have said it repeatedly - if credit unions expect to compete in the purchase market and garner a greater share of the mortgage market, they have to change their mortgage loan delivery paradigm and market themselves as credible mortgage partners to members...
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Study of Overdrafts Finds Repeat Users Account for Majority of Volume; Minorities And Low-Incomers Caught in Overdraft Cycle
DURHAM, N.C. - The proliferation of overdraft loan programs has caused some consumer groups concern. According to a study from the Center for Responsible Lending, 16% of overdraft loan users account for 71% of fee-based overdraft loan fees. Repeat users are more often low-income, single, nonwhite renters and use overdraft...
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Local Government FCU, First Carolina Corporate, SECU Help Members Find BALANCE
RALEIGH, N.C.- Local Government Federal Credit Union, First Carolina Corporate Credit Union and State Employees' Credit Union have teamed up with BALANCE, a wholly owned subsidiary of the Consumer Credit Counseling Service of San Francisco, to help members improve their financial lives. As part of this new, five-year cooperative partnership...
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In High-Priced Long Island Market, Bethpage CU's HLPR Loans Bring Homeownership Within Members' Reach
BETHPAGE, N.Y. - Serving the underserved is so ingrained in Bethpage Credit Union's philosophy and business model, that when the credit union was approached by CUNA last year to commit to the association's Home Loan Relief Program the CU's decision barely needed to be discussed.
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Armando Cavazos Takes `Indefinite Leave of Absence' as CEO of Credit Union ONE
FERNDALE, Mich. - Releasing few details, Credit Union ONE will only say that Armando Cavazos, president/CEO, has taken an "indefinite leave of absence."
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Coastal FCU Leaps into Young Adult Market; Reaching Youth Market Has To be a Credit Union-Wide Effort
RALEIGH, N.C. - When it comes to serving the important yet elusive young adult market, Coastal Federal Credit Union thinks it has hit a bull's eye with its new Student Banking program.
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DFCU Financial Agrees to Hold Special Meeting; Both Sides Start to Campaign
DEARBORN, Mich. - Although it has not yet set a date, a spokesman for the $1.8 billion DFCU Financial credit union pledged last week that the CU will hold the special meeting at which members can vote on whether to recall board members-both sides of the board controversy began employing...
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Credit Unions Value the Convenience of Going to Core Processor for More Products
SHREWSBURY, N.J. - Credit unions are heavy users of third-party vendors, but some credit unions are finding value in limiting the number of vendors they deal with.
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Credit Union Lobbyists Lose Hope For Additions to Skimpy Senate Reg Relief Draft'
WASHINGTON-Credit union lobbyists have been saying for the last week that they expected the Senate Banking Committee's version of regulatory relief to be less far-reaching than the House bill. They were right. Senator Mike Crapo (R-Idaho) has circulated a `matrix' for the last couple years with over 170 potential items...
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CURIA Gains Another Co-Sponsor, Total Comes to 120
WASHINGTON - Another lawmaker has added their name to the list of co-sponsors to the Credit Union Regulatory Improvements Act (H.R. 2317). Representative Duncan Hunter (R-Calif.), chairman of the Armed Services Committee, signed up in support of the bill that would provide credit unions with a more flexible prompt corrective...
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Little Rock Teachers FCU Completes Merger with Arkansas FCU
LITTLE ROCK and JACKSONVILLE, Ark. - The 1,500 members of Little Rock Teachers Federal Credit Union will soon have access to a wider array of products and services. The $2 million credit union has merged with $400 million Arkansas Federal Credit Union, both institutions recently said. Arkansas FCU, the state's...
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Hudson Valley FCU Chairman Presented Hall Of Fame Award
POUGHKEEPSIE, N.Y. - Hudson Valley Federal Credit Union Board Chairman T.S. Jones has been named the New York Credit Union Hall of Fame Award winner.
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CU Direct Received Harland's Best Business Practice Award for CUDL University
RANCHO CUCAMONGA, Calif. - CU Direct has received the Best Business Practice Award from Harland Education Service for its CUDL University online training and educational program.
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Manzullo Backs Small Biz Exemption from Sarbanes Corporate Governance
WASHINGTON - House Small Business Committee Chairman Don Manzullo (R-Ill.) said small businesses should be exempt from certain Sarbanes-Oxley corporate governance provisions. Manzullo, who chaired a full committee hearing on the issue May 3, urged the SEC to heed a recent report from its Advisory Committee to Smaller Public Companies...
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Maine CU League Uses Muscle of Mass Media to Bolster Support of Financial Education
WESTBROOK, Me. - The Maine Credit Union League is constantly looking for ways to communicate and promote youth financial education in the state, and during Maine CU Youth Week April 23-29 the league's efforts got a boost through a significant increase in media coverage.
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CES CU President Named Ohio CU League's Professional of the Year
DUBLIN, Ohio - The Ohio Credit Union League recently honored James Depue, president and general manager of CES Credit Union, as its 2006 Professional of the Year. Under his tenure which began in 1982, Depue led the expansion of the credit union in size and services. The $81 million CES...
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No Surprise: Pennsylvania Bankers File FOM Appeal in State Supreme Court
HARRISBURG, Pa. - In an expected move, the Pennsylvania Bankers Association and other banks on April 28 filed their appeal of the field of membership decision made by the Commonwealth Court on March 1 that upheld the community charters granted Freedom CU and TruMark Financial CU.
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SBA Reaches Out to iPod Users
WASHINGTON - To extend its reach even further to small businesses, credit unions and other lenders, the Small Business Administration has taken another high-tech step.
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Though ACB Keeps Costs Down, Lagging Revenues Lead to Slight Decline in Net Assets
WASHINGTON - Despite keeping costs at the lowest point in the last couple of years, America's Community Bankers netted a slight deficit for 2005.
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Biz Kid$ Campaign Rolls On With NCUA Support
DALLAS - The "Biz Kid$" campaign to raise $2.6 million for a financial literacy show on public TV this fall has picked up some powerful new supporters: NCUA Chairman JoAnn Johnson and Vice Chairman Rodney Hood plus a contingent of Texas CEOs. In addition, project backers, including a contingent of...
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SC CUs Provide 670,000 ID Kits to Area Kids
GREENVILLE, S.C. - In response to increasing news of missing children and of families separated in the aftermath of Hurricane Katrina, South Carolina's 86 credit unions are providing more than 670,000 kits to students in grades K-12 via the school systems, at no cost to families. The move marks the...
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Nolan Departs NAFCU Services Corp. to Join Prime Alliance
ARLINGTON, Va.-Keith Nolan, president of NAFCU Services Corporation, will be leaving his current post to join Prime Alliance Solutions, Inc. and even earlier than initially expected.
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CUNA's March Stats: Savings Growth Tops Lending Again Adding to Margin Pressure
MADISON, Wis.-Slowing loan growth and gaining share growth led to a significant drop in the loan-to-share ratio between February and March 2006, according to CUNA.
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TNB Sweepstakes Boost New Accounts By 68%
DALLAS - TNB Card Services, the card processing and servicing arm of credit union-owned Town North Bank, saw new accounts in its agent portfolio relationships increase 68% in November and December 2005 over the same period in 2004, thanks to an employee incentive sweepstakes offered in 33 of its agent...
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New VP/Professional Development at CUES
MADISON, Wis. - CUES has named Kevin Davies, Ph.D., vice president/professional development.
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Minnesota CUs Step Up for Paraguay Exchange Program
ST. PAUL, Minn. - After taking part in a credit union exchange program for the past two weeks, Edgar Alejandro Viveros Barboza and Maria del Carmen Gonzalez Cameron are headed back to Paraguay.
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Washington's Spokane Teachers CU Crosses Over Into Idaho
SPOKANE, Wash. - Spokane Teachers Credit Union plans to accommodate the thousands of members who live in the North Idaho area. STCU will build its 10th branch and the credit union's first in Idaho on a 57,200-square-foot parcel in Post Falls. The branch is expected to have 15 employees. According...
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IRS Notifies Large Tax-Exempt Organizations of May 15 E-File Deadline
WASHINGTON - The IRS reminded large tax-exempt organizations of the mandatory electronic filing deadline for federal returns, including income, excise, employment tax and information returns such as forms W-2 and 1099.
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Missouri CUs, Credit Union Commission Petition Court on FOM Expansion Rule Decision, Banks Petition for Attorney's Fees
ST. LOUIS - A month after Missouri Cole County Circuit Court Judge Richard Callahan issued his decision that effectively strikes down the state's credit union field of membership expansion regulation, Missouri credit unions, the Missouri Credit Union Commission and banks all filed petitions with the court concerning the judge's decision....
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Financial Partners CU Hosts Congresswoman Roybal-Allard
DOWNEY, Calif. - Financial Partners Credit Union recently helped give 34th District credit union CEOs and executives important face time with Congresswoman Lucille Roybal-Allard.
News Briefs
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CUNA Represents CUs at `Financial Literacy Day on Capitol Hill'
CUNA Communications Projects and Events Specialist Marta Trinkl was one of CUNA's representatives at the "Financial Literacy Day on Capitol Hill" event.
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NCUA to Connect with State Farm CUs on Merger App by June 1
ALEXANDRIA, Va. - NCUA said it expects to touch base with State Farm Credit Unions on its merger application by June 1. The 12 credit unions that serve $50.2 billion State Farm Insurance sent its application to NCUA March 1. Combined, the credit unions, which are located in 20 states,...
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Lundgren Named EVP/Chief Products Officer At CUNA Mutual
MADISON, Wis. - In keeping with CUNA Mutual CEO Jeff Post's goal to realign the company's management team, CUNA Mutual has has named David Lundgren as executive vice president/chief products officer. Lundgren was brought on in 2005, as its executive vice president/chief administrative officer. He is a former colleague of...
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DP&L Employees Plus FCU Now Has a One Million Potential Member FOM
DAYTON, Ohio - DP&L Employees Plus Federal Credit Union has expanded its reach in a big way and changed its name.
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Four National Law Firms Launch Current Issues in Credit Unions Podcast
CLEVELAND - Four law firms involved with the credit union movement and experienced in handling credit union and regulatory issues have launched a podcast about credit unions and the legal issues facing them.
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One Year in, Mid-States Exceeds $1 Billion in Derivative Transactions
WARRENVILLE, Ill. - Mid-States Corporate FCU received Part IV authority from NCUA permitting it to engage in derivative transactions last April. In just a year's time, the corporate has exceeded $1 billion in derivative transactions.
Marketing
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Day Air CU Wins Marketing Brilliance Award
CLEVELAND - The Ohio Credit Union League has presented Day Air Credit Union with the Marketing Brilliance Award. Every year, the Ohio CUL recognizes outstanding marketing efforts among Ohio's credit unions throughout the past year. Entries are divided and judged by the credit union's asset category. This year's judges were...
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Allegacy FCU SVP/Chief Marketing Officer a `Woman of Vision'
WINSTON SALEM, N.C. - Allegacy Federal Credit Union Senior Vice President/Chief Marketing Officer Cathy J. Pace was among a group of local professionals who were honored as "Women of Vision" at the YWCA's Leadership Awards luncheon.
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D.Hilton Helps Marketing Students Reach Their Potential
THE WOODLANDS, Texas- D. Hilton Associates recently opened its doors to junior and senior marketing students from Phillis Wheatley High School in Houston to help them hone their marketing skills.
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Truliant FCU Part of YMCA Hispanic Mentoring Initiative
WINSTON-SALEM, N.C. - With a multi-year sponsorship, Truliant Federal Credit Union has joined forces with the Kate B. Reynolds Charitable Trust Poor & Needy Division and The Winston-Salem Foundation to help Community Outreach Services YMCA kickoff a new Hispanic Family Mentoring Project.
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Financial Partners Talks Up Financial Services
DOWNEY, Calif. -Financial Partners Credit Union Human Resources Manager Kim Magee recently shared her expertise with area teachers as a panelist in the 21st Annual Banking, Accounting, Finance Advisory and Business Advisory Meeting.
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PSB Account Managers Now CUES CFS Certified
LAKE FOREST, Calif. -PSB has recently announced that key account managers have earned their CUES Financial Suppliers designation. The 18-class curriculum required 16 core classes and two electives. Coursework titles ranged from Successful Advertising Practices to the Future of Credit Unions, giving students keen new insights into the credit union...
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Bethpage FCU, Long Island Ducks Set to Celebrate Three Millionth Fan
CENTRAL ISLIP, N.Y. - Bethpage Federal Credit Union and minor league baseball's Long Island Ducks are gearing up to make the 2006 season's three millionth fan have an experience of a lifetime.
Regulatory/Compliance
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Federal Regulator and Lawmaker Address Alabama League Open Forum
BIRMINGHAM, Ala.-NCUA Vice Chairman Rodney Hood and Congressman Artur Davis (D-Ala.) addressed a group of more than 60 credit union leaders in Alabama late last month.
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Notification of NCUA Unnecessary for Every Potential Security Breach
ALEXANDRIA, Va. - In a recent legal opinion letter, NCUA stated that federally insured credit unions do not have to notify NCUA of every potential security breach affecting sensitive member information. Redstone Federal Credit Union Compliance Manager Suzanne Turner wrote the agency seeking guidance on notification of NCUA following a...
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FDIC Names New Atlanta Deputy Director for Supervision, Consumer Protections
WASHINGTON-The FDIC recently announced the promotion of Gale Simons-Poole. Simons-Poole will serve as the FDIC's new deputy regional director (risk management) of the Division of Supervision and Consumer Protection's Atlanta Region. She began in her new post April 30. A 20-year veteran of the agency, Simons-Poole is currently serving as...
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CU Officials Cannot Receive Preferential Loan Rates
ALEXANDRIA, Va. - Credit unions cannot offer better loan rates to its officials than it does any regular member.
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FinCEN, OTS Slap Enforcement Orders on BankAtlantic
WASHINGTON-The Financial Crimes Enforcement Network and the Office of Thrift Supervision recently announced that each agency placed a hefty fine on BankAtlantic of Fort Lauderdale, Fla. for Bank Secrecy Act violations.
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Former Treasury Official to Take Over at FDIC
WASHINGTON - President George W. Bush recently announced that he intends to nominate former Treasury Assistant Secretary for Financial Institutions Sheila C. Bair to be the next chairman of the FDIC.
Lending
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SBA Aims to Create Risk Rating System for 7(a) Loan Program, Seeks Feedback From Credit Unions, Other Lenders
WASHINGTON - The Small Business Administration is calling on credit unions and other lenders for their feedback on a proposed lender risk rating system for its 7(a) loan program. The system would be an internal tool to assist the agency in assessing the risk of each active 7(a) lender and...
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Baseball Icon Cal Ripken Shares Wisdom At MidWest Financial CU Event
ANN ARBOR, Mich. - Cal Ripken, Jr., one of baseball's legendary players, was the keynote speaker at a recent luncheon sponsored by MidWest Financial Credit Union to kick off its business services program.
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First Credit Union Marks $1 Million Milestone For Business Loan Program
CHANDLER, Ariz. - First Credit Union is celebrating the one-year milestone of its First Enterprise Loan Program.
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EECU Beefs Up Business Services Program
FORT WORTH, Texas - EECU has added payroll services and debit business cards to its lineup of business products.
From the Board Room
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Tinker FCU Credit Committee Serving Underserved Niche-the Credit Challenged
OKLAHOMA CITY - While bankers continue to push for CU taxation claiming large credit unions are bank-like, Tinker Federal Credit Union is quietly demonstrating just what the credit union difference is with its credit committee.
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CUES Forms Directors Advisory Panel
MADISON, Wis.- CUES has recently formed the Directors Advisory Panel to better serve volunteers of the credit union movement through collaborative content development.
Opinion
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Credit Unions Have to Explore Industry Product/Service Options Before Going Elsewhere
Are credit union organizations of value to credit unions? In an article praising two recent credit union to bank converts in the Dallas area, the ABA Banking Journal recently praised the former credit unions for avoiding entangling relationships with credit union organizations, particularly those surcharge-free ATM and shared branching networks...
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Bankers Aren't the Only Ones Practicing `Containment' of Credit Unions
An April 26 opinion piece by the CEO of the Michigan Credit Union League, among other things opines "bankers will fail in their quest to contain and convert."
Publisher's Column
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Branch Visits Show the Good, Bad and Ugly
If you want to expose the service flaws in a financial institution or relish in the high-service quality, a branch is the place to do it. A visit to any financial institution branch will speak volumes about the institution's culture, approach to service and overall efficiency. I recently visited a...
In Other News
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DONATIONS
Immediately after Hurricane Katrina hit the Gulf Coast, Dow Louisiana Federal Credit Union, Plaquemine, La., established a Hurricane Relief Fund to raise money for the victims of the disaster. Recently, the CU held a small ceremony to present the $29,201 raised to the Capital Area Chapter of the American Red...
Staking Out the Stats
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Staking Out the Stats
WASHINGTON-A recent Watson Wyatt Worldwide report that finds that the majority of healthcare costs stem from the treatment of a small group of employees and dependents who have chronic or catastrophic illnesses. The report finds that companies that focus solely on providing financial incentives to encourage plan participants to be...
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- How Five College Town Credit Unions Keep Members Post-Graduation: Slide Show
- NCUA Issues Cease & Desist Against Montgomery County Teachers FCU
