Credit Union Australia, Sydney, Australia, received the "Best Credit Union" award at the prestigious Australian Banking & Finance Awards 2006 for the fourth year in a row. CUA Managing Director Graham Olrich accepted the award at The Westin Hotel, which hosted the event. Olrich said he was honored to win...
State Employees' Credit Union, Raleigh, N.C., recently passed a milestone opening its 200th branch location in Hayesville. The CU attributes its growth quality to member service, added convenience and "word of mouth" advertising. With branches in 87 of North Carolina's 100 counties, and over 900 Cash Points ATMs in all...
Capital Communications Federal Credit Union, Albany, N.Y., recently announced the winners of its 2006 Weidner "Ed" Davis Scholarships. Each fall, the Capital Communications Cares Foundation awards $10,000 in scholarships to members of Capital Communications FCU who are pursuing their undergraduate degrees. This year's scholarship program drew a record number of...
Savings growth at credit unions continues to be a disappointment.
Retail design, construction consulting services firm IBT Enterprises has joined forces with Roswell, Ga.-based financial service solutions provider El Banco Financial Corporation to help credit unions better serve the growing Hispanic community.
It's been nearly a year since CU Business Capital and Lending Solutions, Inc. partnered to bring business loans and lease equipment application processing to credit unions over the phone.
The $191 million Envision Credit Union has introduced a credit card that members can decorate with their own photos.
October is turning out to be the month for credit union mega mergers.
Texans Credit Union is taking financial literacy to a new level.
Even as it works through a significant conversion of its switch from Fiserv EFT to Fifth Third, Credit Union 24 says it is posting very strong transaction numbers.
The Financial Services Regulatory Relief Act (S. 2856) is waiting on the final step in the process to become law: George W. Bush's John Hancock.
According to a Callahan & Associates' Internet Strategy Consortium Survey, online members are looking for more education and guidance from their credit union Web sites. From comparative information and tools designed to help select appropriate products to evaluative tools for help in determining existing financial strategies and managing investments online,...
The National Credit Union Foundation has finished soliciting more than one cycle of grant applications per year in its Community Investment Fund program.
Members of the $332 million Lafayette Federal Credit Union who oppose the credit union's proposed conversion to a mutual bank have written an eight-page letter to the credit union's board of directors which questions, among other things, the CU's contention that it would enjoy a "more flexible regulatory environment" as...
The perception in Washington this election season is that the House and Senate races are tighter than ever.
Statistics show that women tend to lag behind men when it comes to managing money, but Greylock Federal Credit Union and Berkshire Community College are looking to close the gap.
Special Report: Data Processing & Technology Credit unions are still finding new ways to use technology to gain efficiencies. Read about that and more in the special report on pages 22-27. Mooney's Vision Find out how Alliant CU CEO Dave Mooney plans on keeping the CU on a growth track...
Texans Credit Union has turned to Identity Fraud, Inc. to help its members in the fight against identity theft.
Credit unions should look at data security not just as a technology issue, but a multi-channel issue, one credit union expert has suggested.
ACCION USA, a private, nonprofit organization that provides financial services to low- and moderate-income entrepreneurs, and Hope Community Credit Union have come together to start a disaster relief business loan program.
The Filene Research Institute has found in Denise R. Gabel, a chief innovation officer. In this role Gabel will lead the Institute's innovation agenda including the Filene i3 group. A 17-year credit union industry veteran, Gabel formerly served as vice president of strategic direction for Spokane Teachers Credit Union. An...
Credit unions looking to create a competitive and financial edge in member business lending recently attended Business Partners, LLC's User's Training forum.
There is a clear trend of the big getting bigger in the credit union industry.
Given the number of phishing incidents in the media, it comes as no surprise that the Anti-Phishing Working Group's latest survey on trends finds that as of July 2006 financial services continues to be the most targeted industry sector. Of all attacks in July the financial services industry attacks represented...
The recent flurry of credit unions converting to banks is attracting more players to the consulting process.
Legislation to ban credit card use and fund transfers for Internet gambling will finally become law.
On Oct. 3 the saga of Community Credit Union's conversion to a bank was in many ways over. You see that was IPO day for ViewPoint Bank, the former Community Credit Union. Many credit union faithful point to greed as the primary reason credit unions convert to banks. I agree,...
The $160 million Cumorah Credit Union has selected Pemco Technologies for ATM issuing and acquiring. The Las Vegas institution already uses Pemco for Visa credit processing, Pemco announced.
About 20 firms with more than six million credit card transactions each per year are out of compliance with Visa's card security standards and face fines if they had not come into compliance by the end of September 2006.
In response to member surveys and feedback, the Southeast Michigan State Employees Federal Credit Union has lowered its non-sufficient funds fee from $23 to $20. The decrease began on Sept. 25 and will continue for a six-month trial period.
The $1.6 billion Wings Financial Federal Credit Union does not plan to attempt to convert its charter to that of a mutual bank even though its CEO, Paul Parish, resigned from different positions with CUNA and NAFCU over the charter change issue.
The LoanLink Center, a CUNA Mutual and credit union system- owned lending call center, has hired two executives.
A marketing and public relations architect for industry projects like the "BizKid$" venture, last February's Super Bowl ad and the award-winning "Tomorrow's Leaders" campaign is moving on to an agency job in Tacoma. Jamie Chase, director of communications and public relations for the league since January 2004, said she is...
Pointing out a number of "taboos" associated with the Office of the Comptroller of the Currency's decision to approve requests from three banks wanting to engage in commercial real estate deals, Washington Credit Union League CEO John Annaloro is concerned about the ramifications.
The Minnesota Credit Union Network (MnCUN) hosted gubernatorial candidate Peter Hutchinson at its office for a candidate forum on Oct. 3.
Georgia Credit Union Affiliates has partnered with the Office of the Georgia Secretary of State to help get credit union members voting.
"America's Credit Union Conference & Expo" will debut next year in Las Vegas.
NASCUS and the Conference of State Bank Supervisors are both applauding the credit union related-provision added to the Regulatory Relief Act of 2006 that allows for full voting rights to the chairman of the State Liaison Committee of the Federal Financial Institutions Examination Council.
The advantages of Health Savings Accounts are really so numerous it is hard to see why credit unions would not offer them.
140 purchases since inception--but Yabuki also sees great opportunities for internal growth. Fiserv is a household name in the credit union space with its seven credit union data processing subsidiaries. For years people have suggested that Fiserv can't possibly maintain the seven companies, and that it would eventually have to...
NAFCU has completed its analysis of the 2005 Home Mortgage Disclosure Act data recently released by the Federal Reserve, and based on its findings the association concludes that compared with other depository institutions, credit unions tend to make smaller mortgage loans and approve a greater percentage of loans to low-...
To help credit unions with the highlights of the recently signed Pension Protection Act of 2006, CUNA Mutual Group has put together an executive summary.
If they've got a mind to, members of the Los Angeles Firemen's Credit Union can get records of board meetings back to the CU's original days with a few clicks of a mouse, thanks to some high-end archiving software now deployed at the $750 million institution.
Members of Filene Research Institute's i3 group recently shared their industry innovations with credit union executives in Canada.
evacuated to Lafayette and Houston, respectively, as the storm approached. That was after they managed to retrieve a hard copy of the member trial balance, backup of the computer drives and their disaster kit before leaving town.
The "SBA 101: All You Ever Wanted to Know About Being an SBA-certified Lender" Webinar facilitated by NCUA Board Member Gigi Hyland on Sept. 14, is now available for viewing.
Congresswoman Thelma Drake (R-Va.) applauded credit unions for their work with the military during her keynote address at NCUA's Access Across America Economic Empowerment Summit.
Whether they are coming in via e-mail or telephone, members have lots of questions. Providing fast and accurate answers is critical for member satisfaction, but finding the time and the staff to do that can be a challenge.
The idea was to bring consumer finance topics to radio listeners in Central Florida, but the project proved to be too expensive.
In its continuing efforts to improve its response to major disasters, the Small Business Administration has brought back James Rivera as deputy associate administrator to lead the agency's Office of Disaster Assistance.
Amidst fresh reviews of subprime portfolios, credit unions across the U.S. that hold Centrix Financial indirect auto loans were watching developments here this week as a U.S. Bankruptcy Court began formal proceedings on Centrix' Chapter 11 petition as well as a separate involuntary petition from unsecured CU creditors.
NCUA Office of Small Credit Union Initiatives Director Tawana James "In terms of the easiest type of institution for the program to certify, it tends to be credit unions." --Treasury Community Development Financial Institution Fund's Pam Williams "You don't want to forget the weakest link in your security model and...
ViewPoint Bank, formerly the Dallas-based Community Credit Union, had what may have been the best opening of any former credit union in history as the bank's stock closed up about 50% after its first day of trading. Community Credit Union became ViewPoint Bank on Jan. 1 and formed the ViewPoint...
Credit unions came together last week to share their successes in serving the unique needs of the military during NCUA's Economic Empowerment Summit held Oct. 3. NCUA Office of Small Credit Union Initiatives Director Tawana James explained that 17% of the military are actively engaged with predatory lenders, but she...
"As one entity, the credit union will combine expertise and resources to achieve operational efficiencies and be better positioned to consider additional products and services," according to a statement sent by Tom DeWitt, who will serve as president/CEO.
Small credit unions in Colorado and Wyoming can now cut technology and personnel costs in a major way thanks to a program leveraging their buying power through investment in a CUSO run by the Credit Union Association of Colorado.
There are only about a dozen credit unions, according to the Center for Responsive Politics, with active federal political action committees, but those that do, find it advantageous.
The $1.2 billion Think Federal Credit Union, formerly IBM Mid America Credit Union, has notified members that its board has voted to apply to convert to a mutual bank.
NAFCU has announced that Edward Ambrose will serve as its new associate director of legislative affairs.
The Department of Housing and Urban Development has granted the National Credit Union Foundation $1 million for CUs to use for counseling low-income members about home ownership.
CUNA President/CEO Dan Mica wrote a letter to President George W. Bush asking him to sign the Financial Services Regulatory Relief Act of 2006 (S.2856) as quickly as possible to provide financial institutions much needed relief.
The U.S. Senate race between incumbent Joe Lieberman, running as an independent, against the anti-war Democrat Ned Lamont is posing "a nice dilemma" for the Connecticut Credit Union Association. That's because "both candidates have strengths and are friends of credit unions," said Kevin Chandler, president/CEO of CCUA, in commenting on...
Credit unions showed their support for Congressman Tom Reynolds (R-N.Y.) last month.
Effective Jan. 1, 2007, Weyerhaeuser Employees' Credit Union will sport a new moniker.
Fiscal year 2006 set records for the Small Business Administration for number of loans and the dollars loaned, the agency said.
Marketing strategies provider Nationwide Marketing Solutions is helping credit unions make the most of the upcoming holiday season.
Art lovers can skip the museum and head over to Veridian Credit Union where they can peruse over 20 pieces of original artwork created by Marion High School students on display at the credit union's Blairs Ferry branch. The display is part of Veridian's award-winning ArtShare program, which was developed...
How do you reach Boeing employees and new members in Surf City?
Mountain America Credit Union has given the Utah Jump$tart Coalition's youth financial literacy efforts a boost with a recent donation of $10,000.
Hopewell Federal Credit Union Member Service Associate Eli Martin stands ready to welcome students and introduce the credit union difference during the 2006 Titan Fair at the Ohio State University Newark Campus.
NCUA Vice Chairman Rodney E. Hood Praised credit unions for their efforts in stimulating economic growth during a recent address to the Fall Meeting of the Alliance of Credit Unions held in Montreal.
The Federal Reserve Board has announced that its Consumer Advisory Council will hold its next meeting Oct. 26.
CUNA has made two nominations of credit union executives to the Federal Reserve's Thrift Institutions Advisory Council.
NCUA Chairman JoAnn Johnson shared identity theft recommendations with senior officials in the administration.
The Office of Thrift Supervision, under the direction of then James Gilleran, caused quite a stir a couple years back when it broke from the other regulators in reforming Community Reinvestment Act regulations. The OTS, under Director John Reich, who served at the FDIC at the time, is now ready...
NCUA's legal team has stated that guardian accounts, as set up under Georgia law, receive $100,000 deposit insurance coverage.
The Securities and Exchange Commission said it is motivated by the recent passage of the Financial Services Regulatory Relief Act of 2006 and plans to wrap up its proposed new rules to implement the bank broker provisions of the Gramm-Leach-Bliley Act by Dec. 31.
CheckFree Corp. has launched CheckFree TradeFlow version 2.1, the latest release of its post-trade securities transaction process management solution.
There's a new look and feel to CMG Mortgage Insurance Company's Web site.
S1 Corp. and Professional Federal Credit Union have teamed up to bring business members the ability to manage their business accounts online.
Smart Financial Credit Union is living up to its name with its approach to branching out.
Whenever a credit union selects any major technology solution and in particular a core system, there's much more to the decision than a choice between the functionality offered by the solution and the vendor of the system. You have to decide on how you want the technology delivered. Do you...
Just a few short months ago, we lost a major player in our credit union movement.
While banker attacks, potential taxation, and other external, non-controllable issues do present serious challenges to the credit union system the more serious internal and controllable challenge is to diligently focus on EXPENSE control. As the NIM (net interest margin) decreases due to cost of funds and the need to remain...
Murray Halperin, vice president of sales and marketing, CU Business Capital, on comparisons between credit union and bank branch networks. "It is difficult to comprehend how this expanded authority will serve the overall membership of the credit union when such a small percentage of the members will be served by...
Members 1st Federal Credit Union, Mechanicsburg, Pa., has appointed Molly Busler to branch sales and service trainer and George Fernandez, a teller at its Square Branch, youth ambassador for the CU. Ticonderoga Federal Credit Union, Ticonderoga, N.Y., has named Kimberly Rielly marketing coordinator. St. Mary's Bank, Manchester, N.H., has appointed...
Alabama Telco Credit Union, Birmingham, Ala., has appointed Stanton Davis as director of marketing and Rebecca Barr as branch manager of its Montgomery location. Mutual Savings Credit Union, Birmingham, Ala., has named Jim Rochester vice president of business banking. Georgia Central Credit Union, Duluth, Ga., recently appointed a new member...
Ohio University Credit Union, Athens, Ohio, has named Laura Pratt vice president of marketing; Gabrielle Reinicke vice president of administration; Roberta Fisher Kreitz chief financial officer; and Bob Cowie chief operating officer. Teachers Credit Union, South Bend, Ind., promoted Laura Feeney to vice president metro markets. Veridian Credit Union, Waterloo,...