AWARDS Kohler Credit Union, Kohler, Wis., was awarded the Wisconsin Department of Public Education's 2007 Business Friends of Education Award. The CU was recognized for the numerous education opportunities provided to students, parents and teachers; for its financial support over the years; and its partnership with North and South high...
When CUNA President/CEO Dan Mica's deferred compensation package reached maturity last year, his salary more than doubled.
Members of the credit union community, while standing up for the tax-exemption, do not feel that danger is imminent even after the Treasury Department--which includes the IRS--has made its third mark against the credit union tax-exemption this year.
While creating great national unease, the mortgage crisis offers credit unions outstanding opportunities to increase market share as the industry assists beleaguered homeowners, according to a major CU service vendor.
Another credit union based organization had entered the market for credit union credit card portfolios.
The $330 million Island Federal Credit Union, headquartered in Hauppauge, New York, has sold its credit card portfolio to TNB Card Services, the card portfolio servicing and purchasing arm of credit union owned Town North Bank.
While CUSO participation is on the rise in the industry, the entities still are not the formidable players some advocates would like to see them be.
Every year, NCUA publishes a list of one-third of its regulations to be reviewed as part of an annual effort toward regulatory relief.
Finally! Some good news on employee participation in 401(k) plans.
In a ploy to build membership, the $200 million Members Credit Union is relying on blogs, low-cost online ads and home-grown videos to showcase its three-year old "Football Pick 'Em" game promotion that now has more than 1,500 players.
If you're willing to be inconvenienced a little bit, Kathleen Litman says nearly any credit union can afford to produce a high-quality, professional television commercial.
Reaching out to members who may have been victimized by other mortgage lenders State Employees' Credit Union has developed new products to help them refinance and keep their homes, said the CU.
Congressman Luis Gutierrez (D-N.Y.), chairman of the Subcommittee on Domestic and International Monetary Policy, Trade and Technology, and Financial Services Committee Chairman Barney Frank (D-Mass.) have introduced legislation to look at making minting of coins less expensive.
Credit unions are most likely to have the best deals in town when it comes to car loan refinancing, Black Enterprise magazine recently recommended.
Two credit unions in North Carolina have teamed up with the Internal Revenue Service to sharply increase its effort two help lower income North Carolinians take advantage of tax benefits meant to help low-income people.
CUNA Chief Economist Bill Hampel pointed out that loan growth as of June was the weakest year-to-date it has been in the last five years while savings growth is the strongest in the last four years.
AmeriChoice Federal Credit Union has taken its focus of Building Relationships for Life to help serve the underserved.
Power Financial Credit Union is giving back to members in a big innovative way.
Wescom Credit Union recouped its nearly $1 million investment in ACC Consumer Finance LLC when the company was acquired by CompuCredit at the end of 2006, said Jane Wood, executive vice president, but it has kept the ACC-generated portfolio of subprime auto loans.
Credit union industry executives willing and available to devote their time and energy to implementing innovation in the marketplace are the prime candidates for the Filene Research Institute's new sabbatical program.
The $1 billion Arizona State Credit Union won plaudits from Arizona State University last week for its "rescue" mission in offering 2.9%, six-month loans to hard-pressed college employees who lost pay following a payroll conversion.
Credit unions in Oregon celebrated their numerous legislative successes when the state House and Senate adjourned.
The North Carolina Credit Union Division recently received re-accreditation from NASCUS, the group announced.
In light of a court ruling in favor of consumers victimized by predatory payday lenders in the state, Pennsylvania State Treasurer Robin L. Wiessmann highlighted the Pennsylvania Credit Union Association's Better Choice payday lending alternative.
On a recent muggy Monday morning, members of Charlotte Metro Credit Union were surprised to see who was working the teller line.
The $29 billion Navy Federal Credit Union has one of the best credit card programs in the country when it comes to protecting its cardholders from credit card fraud, according to a recent research report from a noted card firm.
The Credit Union Cherry Blossom 10 Mile Run title sponsor, Credit Union Miracle Day, Inc., elected its board of directors and officers at its recent annual meeting.
Marking what is being called a "dramatic" move to fight hunger among school age youngsters, a group of North Carolina credit unions are helping finance a local charity's distribution of daily food snacks in dozens of classrooms.
In move that surprised many industry analysts, Bank of America has begun raising the fee for non-depositors to use many of its ATMs.
While Fiserv is touting organic growth, it certainly is sticking to its acquisition knitting.
In its recently submitted comment letter, NAFCU rallied around the importance of federal deposit insurance and urged Washington State regulators to reject private primary deposit insurance.
Patelco Credit Union decided it had enough and chose to stop digging when it availed itself of the opportunity to sell its subprime auto portfolio and investment in ACC Consumer Finance, LLC of Laguna Niguel, California.
Credit unions and their representatives, as well as banks and their respective organizations, weighed in on NCUA's proposed changes to its Field of Membership and Chartering Manual from their own unique perspectives generating dozens of comment letters.
Check 21 is now making house calls at EasCorp.
Congressman Melvin Watt (D-N.C.) greets a member at the teller line of Charlotte Metro Credit Union in North Carolina. Find out what the lawmaker was doing working the teller line on page 20.
Robberies at credit unions have grown faster than robberies at banks, may continue to do so and may be the result of an opinion among a growing percentage of thieves that credit unions are softer targets than banks, according to federal robbery data and credit union insurers who have to...
Member Business Lending, LLC has partnered with two more credit unions bringing its total client roster to 23.
Small businesses may be on the cusp of experiencing a lending tightening phase, but credit unions may be able to provide some relief, Mike Schenk, CUNA senior economist, suggested in a Aug. 7 Wall Street Journal article.
CUNA Mutual Life Insurances policy holders have voted to approve the company's merger with the CUNA Mutual Insurance Society, both affiliates of the CUNA Mutual Group, the insurer announced.
Pacific Service Credit Union is now offering two new home equity loans secured by either rental property or vacation homes, a bold move, given the state of the mortgage industry right now. With rising delinquencies, foreclosures, falling home values and a glut of "for sale" signs in many areas, PSCU...
Co-sponsorship for the Credit Union Regulatory Improvements Act (H.R. 1537) reached 122, including primary sponsor Congressman Paul Kanjorski (D-Pa.), prior to the August recess.
Senator Hillary Rodham Clinton (D-N.Y.) and Senator Gordon Smith (R-Ore.) have introduced The New Saver's Act (S. 1967) to push American's savings back into the black.
MIDFLORIDA Federal Credit Union recently issued a $650,000 dividend following the June 30th completed merger with Imperial Polk Credit Union.
The speaker's list for NAFCU's Congressional Caucus, Sept. 9-12, is growing with key leaders impacting credit unions.
Scott Credit Union is encouraging members to step into the zone--its new Member Zone in Millstadt.
Last week the Federal Reserve Board and Treasury's Financial Crimes Enforcement Network announced a $65 million assessment against American Express Bank International and American Express Travel Related Services Company, Inc. for Bank Secrecy Act violations.
Despite the increasing pressures of the downward spiral of the housing market, the Federal Open Market Committee decided at its Aug. 7 meeting to maintain the federal funds target rate at 5.25%.
Michigan Credit Union Division Deputy Commissioner Roger Little reiterated the tax-exempt status of Michigan state chartered credit unions in a recent letter.
ALEXANDRIA, Va. -- NCUA launched "The Resource Connection" last week as a central location to access and share information on credit union business practices, partnership resources, funding and training opportunities.
The 500th client to sign up to use Episys is a big one, Symitar says.
Co-op Services Credit Union has enlisted Cyveillance Inc. to help the suburban Detroit institution protect its members from phishing attacks.
Callahan & Associates has released its 2007 Credit Union Technology Survey and for the first time the annual roundup is in two volumes.
Members 1st Federal Credit Union will be automating a number of paper-based functions with the Ultimus BPM suite, the company and credit union say.
Hack attacks on credit unions are up 62% from last year, according to SecureWorks, a provider of managed information security services to 1,800 credit unions, banks and other financial institutions.
Akcelerant Software LLC is now packaging its Framework workflow and business process automation suite with the automated voice messaging solution from SoundBite Communications Inc.
Four of Hyland Software Inc.'s 370 credit union users of its ECM software suite were honored at the company's recent 2007 Credit Union OnBase Training and Technology Conference in Anchorage.
Achieva Credit Union is giving members a chance at fame with its latest advertising campaign.
Fifty is turning out to be fabulous for Clackamas Federal Credit Union--with a new look and feel it has truly reinvented itself for the future.
Twin City Co-ops Federal Credit Union is helping kids think savings with its recent giveaway at a Minnesota Twins home game.
What is a credit union? Each organization has their own terminology to describe what they provide to members, much of it similar to other credit unions. There's the standard definition: credit unions are member-based, not-for-profit co-operatives providing financial services. But, what is a credit union? This in fact is probably...
Greetings from the land of Aloha!
I was very pleased to see in your story on regulatory relief in the July 25 issue Bob Harvey and Gordon Dames express their thoughts on solving one of the most onerous issues facing credit unions today...field of membership.
I want to comment on Paul Gentile's column, "Time Has Come to Pay Directors" in the Aug. 8 issue.
There are a lot of interesting credit union happenings that deserve comment:
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