DONATIONS Service 1st Federal Credit Union, Danville, Pa., has embraced the spirit of giving by coordinating a gift exchange where employees buy toy items that match their coworkers' characteristics, hobbies or personalities. This year's exchange yielded over 50 toys and gifts donated to Toys for Tots to benefit local needy...
To celebrate the sixth annual National Credit Union Youth Week North Jersey Federal Credit Union will host a variety of activities for kids under the age of 18. The weeklong festivities were established to stress the importance of financial education and increase awareness among children and parents.
The Pennsylvania Supreme Court has agreed to hear bankers' appeal of a lower court decision permitting two state credit union community charter approvals.
Starting in mid-summer, Allpoint cardholders traveling for pleasure or business in the United Kingdom will be able to get surcharge-free access to money from ATMs just as they would be able to at home.
NAFCU was encouraging its members to communicate with their members of Congress during the recess the last two weeks.
The Credit Union Association of Colorado has formally completed changes in its top leadership spots to fill vacancies left by the departure of Mark Cummins, the new president/CEO of the Minnesota Credit Union Network and former president/CEO of White Crown FCU.
When it comes to creating a satisfying Web experience for consumers, credit unions click.
The planned merger of WesCorp with VolCorp included a capital payout plan whereby WesCorp would return VolCorp's member capital over a 20-year period, but an NCUA letter caused the corporates to go back to the drawing board.
Navy Federal Credit Union hosted its 22nd Annual Branch Operations and Mortgage Leadership Conference at its Vienna, Va. headquarters for more than 100 branch and field mortgage leaders from around the globe.
An imaging solution from VSoft Corp. that allows merchants to electronically capture and send checks for deposit has been added to Synergent's item processing services. The iMerchant Capture system allows businesses to use a low-speed scanner to capture images and securely transmit them over the Web to financial institutions regardless...
Postal Federal Community Credit Union in Springfield announced that it has recently merged with Central Ozarks Credit Union.
Affinion, a noted ID theft and marketing firm for credit unions, has acquired CardCops, a Malibu, Calif.-based ID theft protection, data monitoring and analysis technology solutions leader. Terms of the deal were not disclosed.
A branch manager from Huron River Area Credit Union, which was placed into conservatorship earlier this year, has been arrested for embezzlement according to a local news report.
One day after a mass killing took place at Virginia Polytechnic Institute on April 16, all 10 of the employees who work at Freedom First Federal Credit Union's branches on the college's campus are safe and accounted for according to Paul Phillips, president/CEO.
While credit unions are helping members become more financially savvy they may want to also turn their focus inward--to staffers.
In celebration of National Credit Union Youth Week, April 22-28, teens under the age of 17 can enter to win a $500 reward at Security Service Federal Credit Union.
The Wisconsin Credit Union League sent a report to the state legislature last week to counter what it calls "a flawed study" of credit unions sponsored by the banking industry.
In honor of National Credit Union Youth Week, on April 28 Affinity Federal Credit Union is hosting a special kids day with special activities ranging from vault tours, carnival-like games and prizes, to refreshments and giveaways.
Special Report: Check 21/Image Exchange
Seattle Metropolitan Credit Union and Credit Union Northwest recently announced their impending plans to merge this summer.
For the first time ever, a survey has found that more online consumers pay their bills online than write checks.
Three national banking trade associations delivered a joint letter to the chairmen and ranking members of the House Ways & Means and Senate Finance committees encouraging them to include the Subchapter S reforms from the Senate bill in any compromise legislation.
CUNA's recent letter to the Treasury Department makes the case that not-for-profits are just the right organizations to support the nation's strategy to increase the financial literacy of all Americans pointing to the many education efforts of credit unions.
Home Loan Payment Relief program--in the Real Estate section of the April 14 issue as an alternative for those of lower incomes or credit scores and first-time buyers.
Credit union members whose credit unions participate in shared branching now have another place where they conduct transactions while traveling to mid-town Manhattan.
NCUA recently assumed control of $51 million Obelisk Federal Credit Union located in New Albany, Ind., it announced last week.
Financial institutions pushed automated clearinghouse payments up two billion to nearly 16 billion in 2006, according to statistics compiled by NACHA--The Electronic Payments Association--and released at the PAYMENTS 2007 conference last week.
Desert Schools Federal Credit Union said last week it is combining its product management and quality service functions to enhance development of deposit products for both consumers and small business applications.
From the podium, little was said about Wings Financial or Think FCU at the Minnesota Credit Union Network annual meeting here last week, but in the receptions and private gatherings there was plenty of buzz about the impact of the controversies and the state's newfound connection to them.
Westerra Credit Union is on a campaign this month to build its mortgage business and one of its major moves was exhibiting at the annual Realtor Rally which drew 3,500 realty executives from metropolitan Denver.
Matadors Community Credit Union is now offering Health Savings Accounts to members.
The House Financial Services Committee has announced that it will hold a hearing on the Industrial Bank Holding Company Act of 2007 (H.R. 698).
Two check processors on opposite sides of the country may be employing different strategies, but both agree the cost savings of switching from paper to digital has about caught up with the cost of conversion technology.
CUNA is hosting a series of compliance conferences to provide credit unions an opportunity to ask their most challenging compliance questions.
CO-OP Financial Services has joined NACUSO's list of contributing member-sponsors as a Platinum Partner.
CUNA Mutual Group opened its new trading room on April 17.
America's Community Bankers has named Crowe Chizek, one of the largest accounting and consulting firms in the U.S., a Preferred Solution Provider.
lending over $1 million to Georgians with disabilities.
Technically, it's spring, but the recent stubbornness of winter to hang around past its time hasn't stopped credit union CEOs from feeling optimistic these days.
In a new twist on advocacy, the $1.1 Affinity Plus Federal Credit Union has launched an "engage the member" program by quizzing members on-site about their knowledge of CU purpose and structure.
CUNA and NASCUS are looking at the state charter implications of the proposed rule issued for comment this month by NCUA that establishes parameters for disclosing executive compensation increases in merger deals.
Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company LLC, announced that member financial institutions of both systems can now exchange check data and images.
The Michigan Credit Union League has once again teamed up with state lawmakers to educate youth and young adults about money management during April--Youth Financial Literacy Month.
With the month of April again being proclaimed by Governor Baldacci as Financial Literacy for Youth Month, Maine credit unions once again stepped up to help area high school students up their financial IQs.
Thirty-five members of Congress added their names to the list of co-sponsors for the Credit Union Regulatory Improvements Act (H.R. 1537) after the spring recess.
The House Financial Services Committee was slated to hold a hearing last week to look at a broad solution to the subprime mortgage problem that provides relief to borrowers and holds the original lenders accountable either through discounts, refinancings or other means.
Five more CUs spread across five states have sold their credit card portfolios to TNB Card Services, the card processing and purchasing arm of credit union owned Town North Bank.
In response to problems in the subprime mortgage sector, NCUA has issued guidance to corporate credit unions regarding the potential impact on mortgage backed securities.
This series of pie charts represents the percentage of COCC clients who exchange images versus those who process paper checks. Each chart represents one year, starting with 2005. The chart shows the increase in image exchange penetration from 9% in 2005 to 32% so far in 2007. The client-owned company...
If being responsible for seeing that millions of checks make it from paper to electronic images as they wend their way through the vast, interconnected world of financial flow doesn't sound like a day at the park, you're not Jeff Vetterick.
Breaking with previous practice and signaling its new commitment to more transparency, Visa USA has gone public with its interchange schedule that took effect on April 14.
Speakers confirmed for the NASCUS State System Summit this summer in Fort Lauderdale, Fla. promise to cover a wide range of credit union issues.
Because of the unique nature of credit unions, asset valuation requires careful consideration the national credit union trade associations told the Financial Accounting Standards Board.
Advance Financial Federal Credit Union's young members are setting sail on a Pirate Adventure during National Credit Union Youth Week. The credit union has invited its members under the age of 18 to take part in the credit union industry's "National Youth Savin' Challenge" by "stashin'" their cash at Advance...
State Employees' Credit Union recently donated two Triumph at Kitty Hawk publications to each of North Carolina's 58 Community College media centers.
An effective succession plan can minimize turmoil often associated with a credit union's planned or unplanned senior level personnel vacancies, particularly when a shrinking labor pool makes finding qualified talent difficult. Garry Modrell and Charles Shanley, executive consultants with John M. Floyd & Associates, Inc. Executive Search Group, delivered that...
To expand its reach even further to assist credit unions with their business continuity planning, Ongoing Operations, LLC acquired Baltimore-based CU Recover on April 3.
The Texas Credit Union League reaped the benefits of a well-prepared dues increase proposal at its 2007 Annual Membership Meeting April 12. Delegates approved the new dues structure unanimously, without discussion, surprising league officials.
The resignation of Lawrence Hart, the chief compliance officer for the $319 million Lafayette Federal Credit Union, and the allegations Hart has made in the wake of that resignation have cast doubt on whether the Office of Thrift Supervision would have ever approved the credit union's application to convert to...
Like credit union leaders elsewhere, worried CEOs of Minnesota CUs were trying last week to make some sense out of the fast-moving events surrounding two of their own, Wings Financial and Think FCU, amidst heightened alarm about internal damage to the industry nationwide.
The latest corporate credit union merger marries the $28 billion WesCorp, San Dimas, Calif., with the $4 billion SunCorp, Westminster, Colo.
Credit unions are pricing their auto loans too low, and may be missing out on an opportunity to earn interest income in a tough yield environment.
True to its word of not taking a passive role in the oversight of mergers, NCUA said after reviewing the offer by Wings Federal Credit Union to pay members of Continental Federal Credit Union $200 apiece if Continental merges with Wings, the regulator has found that the payment is "impermissible"...
The Bank-Fund Flyers from Bank-Fund Staff Federal Credit Union won the race for the Credit Union Team Challenge at the 2007 Credit Union Cherry Blossom 10-Mile Run held April 1. The team took home the perpetual trophy, dubbed the Credit Union Cup and donated by Northwest Federal Credit Union, with...
The Credit Union Association of Colorado has formally completed changes in its top leadership spots to fill vacancies left by the departure of Mark Cummins, the new president/CEO of the Minnesota Credit Union Network and former president/CEO of White Crown Federal Credit Union.
April 15 marked the 60th anniversary of baseball legend Jackie Robinson's first major league game playing with the Brooklyn Dodgers.
The Independent Community Bankers of America recently urged Congress to pass a pending bill to better enable community bank lenders and the Small Business Administration to respond effectively to disaster financing needs.
Freedom First Federal Credit Union has established the FFFCU/Virginia Tech Memorial Fund to support the recovery and renewal process following the tragic events at Virginia Polytechnic Institute and State University.
Legislation outlining notification requirements in a data security breach passed out of the California Assembly Judiciary Committee last week and is heading for a hearing in the Business and Professions Committee April 24.
Strohl Systems says the new version of its online business continuity planning solution includes the ability to create an unlimited number of plans and have concurrent users.
Larry Tankeloff, president of GalaxyPlus, one of Fiserv's seven credit union data processors, has resigned. Tankeloff's tenure was short. He was named president last October. He was formerly vice president of operations at USERS. According to Fiserv, the relocation required by the new role at GalaxyPlus played a role in...
S1 Corp. has added the online account opening technology of Andera Inc. to its offerings as the Internet banking and payment solutions provider continues to move into the credit union and mid-sized bank market.
Credit union technology veteran John Best has been promoted to the newly created position of vice president and chief technology officer at Wescom Credit Union. Best joined Wescom about three years ago to work with the $3.8 billion CU's tech CUSO, Wescom Resources Group, and had been its director of...
Voting online may be the key to getting more members motivated to cast their ballots, according to a tech CUSO now offering the solution to other credit unions.
Since rolling out its revamped brand, DEI has taken the next step to renovate its headquarters.
Clark County Credit Union has opened the doors to its sixth branch. The new Sunset Branch is the designated back-up site for the technology and security needed to keep CCCU's entire operation functioning during a disaster.
UNITED SA Federal Credit Union has recently opened the doors to its second San Antonio office located in the South Texas Medical Center.
Alaska USA Federal Credit Union continues to branch out.
I would like to respond to Mr. Cary Anderson's letter to the editor regarding payday lenders. I contacted Mr. Anderson this morning and discussed the letter that he wrote and appeared in the April 4th edition. I made Mr. Anderson aware that New Mexico Credit Unions had no part in...
I hate to say I told you so, but I did. When the news broke of Wings Financial FCU attempting to engineer a hostile takeover of Continental FCU, there was a lot of hysteria.
Want employees to be better health care consumers? Reconsider how your credit union is delivering the information.
EAST Jane F. Correia has been selected as a member of the supervisory committee of Rhode Island Credit Union, Providence, R.I. SOUTH Insight Financial Credit Union, Orlando, Fla., has appointed Deborah Day-Corley to branch manager of its Oviedo Branch. SAFE Federal Credit Union, Sumter, S.C., has selected Vertell Frazier as...
John W. "Jack" Henry, founder of technology firm Jack Henry & Associates, has died at the age of 71.
Longtime leader of OnPoint Community Credit Union (formerly Portland Teachers Credit Union) Morris P. McElwee has died at the age of 79 from complications from Guillan-Barre syndrome.
Continental Federal Credit Union said last week it had learned that individuals representing themselves as conducting a survey on behalf of the CU have been calling Continental's members.