Credit Union Times Magazine May-31, 2006

News Briefs

  • Corrections

    In the story, "IRS: No Further Guidance Expected Soon on 457(b) Treatment at FCUs" in the May 17 issue, it was incorrectly reported that the deadline to establish a 457 plan was Dec. 31, 2006. That date applied to when employers need to amend their plans to comply with the...

  • CURIA Supporters Number 121

    WASHINGTON - The Credit Union Regulatory Improvements Act (H.R. 2317), which has proven controversial yet popular among lawmakers, has found yet another supporter in the federal legislature.

  • Navy Federal Serves its Members Everywhere, Dawson Tells Congress

    WASHINGTON - Navy Federal Credit Union is adept at serving the particular needs of the military, CEO Cutler Dawson told a congressional subcommittee earlier this month. Navy Federal did not grow from 49 members and $450 in assets in its first year of operation to more than $25 billion in...

  • Credit Unions Make List Of Top ACH Recipients, Not Originators

    HERNDON, Va. - Two large credit unions made the list of the top 50 ACH recipients, according to NACHA, but none have made a similar list for originators.

  • CSCU Posts Strong Growth For 2005

    ST. PETERSBURG, Fla. - Card Services for Credit Unions, the association of credit unions which process their card transactions with Fidelity National Information Services, now has 3,400 credit unions as members and represents over 12 million Visa and MasterCard accounts, the association has reported.

  • Late Amendments Postpone SBA Bill Mark-up

    WASHINGTON - A flurry of last-minute amendments forced House Small Business Committee Chairman Don Manzullo (R-Ill.) to postpone a May 17 committee mark-up of his legislation that would reauthorize the Small Business Administration programs for another four years. The committee was scheduled to consider HR 5352, or the Small Business...

  • Glenn Named President/CEO Of Air Force FCU

    SAN ANTONIO - The $230 million Air Force Federal Credit Union announced Robert A. Glenn as the CU's new president/CEO.

  • Two California CUs Merge

    OAKLAND, Calif. - The California Department of Financial Institutions recently announced the approval of a merger between a tiny credit union with ailing growth and a larger one.


In Other News


    Veridian Credit Union, Waterloo, Iowa, has announced the recipients of its Health, Welfare, and Safety grant. The grant targets programs that promote awareness and educate on wellness-related issues. $15,000 was available from this grant. The recipients are: Allen Hospital of Waterloo; The Family YMCA of Black Hawk County; People's Community...




Letters to the editor

  • Holub: Brand Campaign is All About Our Credit Unions

    I would like to thank Editor-in-Chief Paul Gentile for recognizing our public awareness campaign in the May 3 edition of Credit Union Times.

  • 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....

  • Let Me Enlighten Gentile on the `Movement'

    Paul Gentile has done it again. His editorial in the May 17th edition beckons a response from any of us that have "credit union movement" flowing through our veins.

  • Letters to the Editor

    Submission by e-mail is preferred. Send to, or mail to: Paul Gentile, Revmont Park South, 1161 Broad St. Shrewsbury, NJ 07702

  • No Data Processor Is an Island

    In response to Editor-in-Chief Paul Gentile's article "Credit Unions Value the Convenience of Going to Core Processor for More Products," which appeared in the May 10 issue, let me note that making things convenient for our customers is the ultimate goal for any credit union vendor. However, as technology becomes...

  • The More Things Change the More they Stay the Same

    The recent passing of Louis Rukeyser made me reflect on a meeting I had with him some 16 years ago. Mr. Rukeyser was a graduate of New Rochelle High School. New Rochelle is the hometown of my alma mater Iona College. A friend put us in touch and we discussed...

  • Members Lose Out on Portfolio Sales

    Ondine Irving's article of May 10, "Credit Card Portfolio Sales Offer Members a Raw Deal" is right on the money.or should I say credit card? Credit unions should understand the ramifications of selling their card portfolios. It hurts member loyalty by making members feel like their financial business isn't important...

Publisher's Column

  • Now More Than Ever Bankers Pull CUs' Strings

    NCUA has canceled its May board meeting, a rarity for the regulator. It only had one item on the agenda, albeit a controversial, important item-an amendment banning non-multiple common bond credit unions from adding underserved areas. This amendment was driven by bankers and their lawsuit challenging underserved areas, claiming CUs...

Staking Out the Stats

  • Staking Out the Stats

    Factors That Impact Executive-Level Performance-Based Cash Bonuses A recent SHRM HR Practices in Executive-Level Compensation Survey Report reveals that when it comes to executive level performance-based cash bonuses the bottom line matters most. Here is a look at the top factors that influence bonuses: * Gross/net revenue 59% * Profit...


  • WEST

    Redwood Credit Union, Santa Rosa, Calif., has added Kristina Derkos as its new senior vice president of human resources. San Diego Metropolitan Credit Union, San Diego, welcomes John Ash, who was recently hired as the lending manager. Woodstone Credit Union, Federal Way, Wash., has named Scott Butterfield, vice president of...


    SELCO Insurance Services, Eugene, Ore., has promoted Tim Kelley to the position of insurance manager. eCU Technologies, an automated financial service technology provider for credit unions, has added Mike Blumenthal to its consulting/programming division to support the technology CUSO's continued growth.


    KEMBA Fiancial Credit Union, Columbus, Ohio, has promoted Laura Ille to marketing manager. US Federal Credit Union, Burnsville, Minn., has appointed Rachel Gronewald to business/community development specialist. RCU, Royal Credit Union, Eau Claire, Wis., recently re-elected John Sackett and Bill Blackburn to three-year terms. Dianne Addington, president/CEO of T&C Federal...


    Founders Federal Credit Union, Lancaster, S.C., has named Brian J. Mickleberry vice president of its Chesterfield County offices.

  • EAST

    Rhode Island Credit Union, Providence, R.I., elected A. Charles Moretti, Henry A. Godin Jr., Barry Levin and Beverly Dwyer each to three-year terms on the board. Also, elected to a three-year term on the supervisory committee was Ernest DeAngelis. Elected as board officers were Beverly A. Dwyer, chair; Milton Bronstein,...

In Memoriam

  • HVFCU Mourns Loss of Director Emeritus

    POUGHKEEPSIE, N.Y. - Hudson Valley Federal Credit Union is mourning the loss of its director emeritus Casper Casparian. Casparian served HVFCU as an unpaid professional for nearly 40 years getting his start as a committee volunteer in 1967, he was later elected to the board in 1969, where he served...

From the Board Room

Voting Poll

Advertisement. Closing in 15 seconds.