Oregon First Community Credit Union, Coquille, Ore., recently held a celebration for its new banking center and corporate headquarters. Several founding members of the CU attended and spoke at the event. Several hundred people also attended the celebration and helped the CU open its new facility. Founders Federal Credit Union,...
BestSource Credit Union, Pontiac, Mich., recently won first place in the State of Michigan for the Dora Maxwell Social Responsibility Recognition Award and also the Louise Herring Award for Philosophy in Action. Awarded by the Michigan Credit Union League, these awards represent commitment to the credit union movement and social...
Governor Mitch Daniels has named Teachers Credit Union President Rick Rice chairman of the Indiana Department of Financial Institutions.
The $570 million San Mateo Credit Union, headquartered in Redwood City, Calif., has chosen Lynxgate Solutions to provide an ATM management system, Lynxgate has said. The CU will use the CAT ATM management suite, a product of Fiserv, Inc, to manage its 18 ATMs.
In one way, Betty Hobbs can relate to the late, legendary crooner Frank Sinatra.
Financial Service Centers Cooperative, the nationwide shared branching network headquartered on the West Coast, has added 46 shared branching locations so far in 2007, the network has said.
Visa has pressed on with its effort to get cards accepted as payment in steadily more venues.
After serving as pilots for Processing Alliance's CU*Check 21 electronic deposit automation solution, three Michigan CUs--Frankenmuth Credit Union, Kent County Credit Union and Alpena Community Credit Union--are now scanning, transmitting and retrieving live check images online.
There has been a clear sea change in the use of CU debit/ATM cards, moving away from being primarily the means for accessing cash at ATMs to becoming more of the universal payment cards the financial industry has long sought.
Nineteen people were recently arrested by the Department of Justice and charged with fraud in connection with more than $76 million in loans guaranteed by the Small Business Administration.
To stop what some critics consider a vicious and exorbitant trap found with many payday loans, Veridian Credit Union is launching an alternative that not only provides emergency cash, but helps users save for the long term.
With heightened opposition from the banking lobby and labor groups to Wal-Mart's entry into retail banking, the Federal Deposit Insurance Corp. appeared ready last week to extend its moratorium for another six months on the retailer as well as Home Depot stores from chartering industrial loan banks.
The $2.7 billion Desert Schools Federal Credit Union is bracing for possible negative feedback from some of its more than 334,000 members over a savings program targeted at undocumented migrants.
Looking to offer more products and services to members, Wanigas Federal Credit Union and Central Michigan Community Federal Credit Union have begun discussions on a possible merger.
Indiana credit unions cashed in on Super Bowl hype savoring a big payoff in what one marketing executive here called "phenomenal ratings" for pre-game TV and radio ads as well as Internet tie-ins.
Covera Card Solutions, the card processing firm that is affiliated with the New York Credit Union League, has signed three new credit unions--the $180 million First Source FCU, headquartered in New Hartford, N.Y., the $34 million Niagara County's FCU, headquartered in Lockport, N.Y. and the $34 million People's Transport FCU...
The Members Group, the card processing firm jointly owned by the Iowa Credit Union League and Iowa Corporate, has reported a very strong holiday season with its new gift card offerings.
Special Report: Credit/Debit/ATMs TNB capitalization aids its portfolio buying power. Read about that and more in the special report on pages 20-24. On-Site at CUISPA Credit Union Information Security Professionals Association covered a number of hot-button topics at its annual meeting in Texas. Page 8.
Spartan stores, a leading regional grocery retail and wholesale operator with more than 87 retail stores located in Michigan and northwest Ohio has decided to start accepting so called contactless payments, according to MasterCard.
The $845 million Orange County's Credit Union has introduced Vida Prospera, a new educational checking and savings program, at a Latino Community Fair that the CU sponsored on Jan. 27.
As banks continue to look beyond their traditional markets for more revenue streams, at least one bread and butter mainstay as well as a burgeoning area for credit unions will be targeted more aggressively this year.
Credit Union 24, the only credit union-owned POS network, processed almost 200 million transactions in 2006, the network said. It also signed on 23 new CUs and saw a new one-month transaction record. CU 24 added that the month of December helped establish a new transaction record, showing more than...
The move by the Colorado Division of Finance to fund a buyer for the deeply troubled $180 million New Horizons Community Credit Union of Denver was progressing last week with a "bidders' meeting" slated here Feb. 8.
Twenty-two credit unions that service their card portfolios with TNB Card Services, the card processing arm of credit union-owned Town North Bank, saw their card balances increase more than $2.2 million, collectively, by participating in a TNB Card balance transfer promotion. Among the 22 participating, the $580 million EECU, headquartered...
Wymar Federal Credit Union celebrated the new year in style by rewarding its membership with a $500,000 bonus.
Catherine Allen, president/CEO of BITS, the technology arm of the Financial Services Roundtable, has announced plans to step down as of May 1.
Asset Exchange, a leading broker of credit union card portfolios, has publicly announced a change in policy. From now on the firm will represent the credit union looking to sell its card portfolio and not the organizations looking to buy it.
The Augusta-based Maine State Credit Union announced its successful merger with Greater Waterville Area Federal Credit Union.
A merger between Travis Credit Union and Napa Valley Schools Federal Credit Union is targeting March 31, 2007 for completion.
Gentrification, the process whereby lower income areas first draw investment to develop and then often experience higher land values and rents on account of the development, is claiming the National Federation of Community Development Credit Unions as its latest victim.
Credit Union Times mixed it up with the crowd at WesCorp's Women's Leadership Conference to get some frank responses to two topical questions for the event. Here's what they had to say: CUT: What is the most important issue facing female leaders in the credit union industry? Barbara Argo, CEO,...
TNB Card Services, the card portfolio purchasing and servicing affiliate of credit union-owned Town North Bank will be one of the beneficiary's of an additional $60 million that the bank's 36 CU owners have invested in the institution.
The $508 million New England Credit Union, headquartered in Williston, Vt., has begun fielding member calls as the Vermont State Government announced that one of its servers that contained personal information for about 70,000 current and former Vermonters has been compromised.
Ongoing Operations, LLC, and the Neverfail Group have teamed up to ensure that credit unions remain continuously connected to working applications after a hardware, software, network or operating system shutdown.
The Independent Community Bankers of America announced the nominees for its 2007-2008 executive committee.
NAFCU Services Corporation President David Frankil has announced a new partnership to help credit unions help their members, even when they cannot make them a loan.
Why do female executives earn less than their male counterparts?
The New Jersey Credit Union League board of directors recently held elections for table officer positions.
until a small child, or two, manages to shove a straw into an ATM's cash dispensing slot.
Striking a balance between keeping long-time members happy, courting those in the 18 to 34 age bracket and reaching out to potential members might be an ambitious undertaking, but Ent Federal Credit Union has proven it can be done.
By MARC RAPPORT Credit Union Times Technology Correspondent
CUNA and NAFCU are working toward a united front on key provisions of the Credit Union Regulatory Improvements Act to get the ball rolling in the 110th Congress.
What has to change before more women can assume CEO positions at large credit unions and in other industries? Abolish the "good old boys network?" Guarantee equal rights through legislation? Perhaps. But the biggest change may have to come from women making an adjustment in the mindset they bring to...
ESL Federal Credit Union recently thanked its members with a $7 million dividend, the largest ever in the credit union's history.
GT&R Employees NC Federal Credit Union members have overwhelmingly approved a merger with Founders Federal Credit Union. The merger is designed to bring more products, more services and more locations to meet members' financial needs.
State Employees' Credit Union is holding a mirror up to members and they like what they see--owners.
CUNA is keeping open lines of communication in Washington, including with banking regulators.
Members of HealthCare Associates Credit Union recently received a financial boost to their savings accounts.
As CUNA's Feb. 25-28 Governmental Affairs Conference draws near, the speaker list is growing by leaps and bounds.
NAFCU has told the Federal Reserve that the group likes its idea of creating an exception for receipts on purchases under $15, but said the regulator could do more.
NCUA released its latest version of the agency's brochure, Tips to Conduct Financial Transactions Over the Internet. The changes made provide updated information for conducting Internet transactions and related resource Web sites. The 13-page brochure covers how members can protect their privacy, how to ensure safe online transactions via encryption...
NCUA Board Member Gigi Hyland announced that last week, the agency's Outreach Task Force that she chairs held its first meeting at NCUA's headquarters.
Congressman Nick J. Rahall (D-W.V.) recently announced that NCUA had awarded a credit union from his state a technical assistance grant from the Community Development Revolving Loan Fund.
NCUA has added to its guidance for federal credit unions regarding their use of automated valuation methods to determine the value of real property for "junior" mortgages. The move was prompted by "several inquiries" regarding a prior legal opinion letter commenting on AVM.
NCUA Board Member Gigi Hyland urged credit unions in Florida late last month to provide input to NCUA and other regulators, but also take their cues from members when looking at products and services.
Established two years ago, Credit Union Information Security Professionals Association, or CUISPA, offers credit union information technology professionals resources through a collaborative peer network. High on its list of priorities is serving as a platform for knowledge exchange. More than 100 industry professionals participated this year in the organization's leading...
What will be the information security hot buttons for NCUA examiners in 2007? The audience had the opportunity to ask that question of NCUA officials during a special session at Credit Union Information Security Professionals Association's 2nd Credit Union IT Risk Management Summit last week.
Many credit unions have underperforming credit card programs, which often lead to discussions about selling their portfolio. In many cases credit unions can increase the value of their portfolio without having to sell.
I have found NCUA's inaction in the DFCU Bylaws dispute inexplicable. Paul Gentile's Jan. 24 column was the best explanation, I have seen by far, of the issues in play, and his recommendations appear right on target. Thanks for shining some needed light on this issue! Martin Breland CEO Tower...
Both the NCUA and the Credit Union Times' Editor/Publisher Paul Gentile are missing the point about credit union bylaw disputes. Who enforces the FCU bylaws, the courts or NCUA, is secondary to the core question of why does NCUA empower a mere handful of disruptive dissidents to petition for a...
I sat down to write this column and thought to myself maybe I should just let this topic go and avoid any potential controversy given the subject matter, but heck that's not my style.
"Our members of Congress know their credit unions."
The Credit Union Associations of Colorado and Wyoming, Arvada, Colo., have appointed Jon Drogheo to human resources consultant and Carmen Ortega to grassroots organizer. MaPS Credit Union, Salem, Ore., has named Holly Bolton its stellar teller for her outstanding performance in October 2006 and named Marcia Mareck its stellar teller...
GTE Federal Credit Union, Tampa, Fla., has promoted Bryon Nabors to the newly-created position of vice president of training. Lee County Postal Employees Credit Union, Ft. Myers, Fla., has named Jason Maxwell CEO. Michelle Malushizky, human resources manager for SC Telco Federal Credit Union, Greenville, S.C., was honored with the...
First American Credit Union, Beloit, Wis., has appointed Lori Messer to branch manager; Rosa Eddings to mortgage loan originator; Mark Larson to collector; and Rebecca Pope to teller. The CU also promoted Selina Quinn to business member services representative. Veridian Credit Union, Waterloo, Iowa, has named Mary Coonradt lending systems...
Workers' Credit Union, Lancaster, Mass., has promoted Lynn M. Buteau to assistant vice president and Lancaster branch manager. Service Credit Union, Portsmouth, N.H., has promoted Kimberly Barrett to member service representative level II and Jenny White to contact center representative level III. Wemelco Credit Union, Springfield, Mass., has named Wendy...
The movement has lost a venerable leader. David Weichhand, president/CEO of United Federal Credit Union, died unexpectedly on Oct. 29, 2006 from natural causes at the age of 50.
In the Jan. 24 issue, the "Top 50 Invested in CUSOs" chart on p. 23 incorrectly listed Greater Cincinnati Schools Credit Union as having $6 million invested in its CUSO, GCSECUSO Inc. The correct figure should be $600,000.