Credit Union Times Magazine February-28, 2007
In Other News
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DONATIONS
South Florida Educational Federal Credit Union, Miami, Fla., recently awarded 15, four-year scholarships to graduating high school seniors. Each year, South Florida Educational FCU awards 15 graduating seniors with a Florida Prepaid College Scholarship. With the escalating costs of a secondary education, today's value for a four-year scholarship can exceed...
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AWARDS
Arkansas Federal Credit Union, Jacksonville, Ark., was voted the "Best Credit Union In Arkansas" for 2006 by the readers of the Arkansas Democrat-Gazette newspaper. Annually, the newspaper prints a listing of business categories and invites readers to fill in the blank of the best business in each category. In 2006,...
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BRANCHING OUT
Synergy One Federal Credit Union, Manassas, Va., is now reaching the middle school level with the opening of the first student-run, in-school branch by a credit union in Prince William County. Many friends of the education and business community attended the grand opening celebration and ribbon cutting ceremony. Synergy One...
News
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Two Detroit-Area CUs Reach Out to Low-Income Families
For two Detroit-area credit unions, tax season is an opportunity instead of a headache.
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Alabama CU League, CUBS To Acquire HR Firm
In what may be a first within the credit union industry, the Alabama Credit Union League, along with Credit Union Business Services, LLC, has voted to purchase CEBCO Staffing, a professional employer's organization and temp-to-permanent employment services company.
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OnPoint Community Ads Illuminating Rail Passengers
When it comes to recent advertising campaigns, OnPoint Community Credit Union's plan for local rail trains may be the brightest.
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Callahan Hosts Free, Year-End CU Trendwatch Webinar
Callahan & Associates Inc. will host a free Webinar March 6 on 2006 year-end results as well as what the credit union industry can expect this year.
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Corporate One FCU to Hold Risk Management Conference
Corporate One Federal Credit Union will be holding a conference and workshop geared toward enterprise risk management on April 30-May 2 at the Mirage Hotel in Las Vegas. The conference is targeting CEOs, CFOs, COOs and CROs.
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As More Students Turn to College Loans, Opportunity Awaits Credit Unions
"Whether or not that happens will depend on a number of factors, including what changes are made to the federal loan system and market and economic conditions," says Research Associate Courtney McSwain. "Private loans certainly are growing, and students are using private loans more, especially students pursuing professional degrees."
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Washington, D.C. Station Picks Up CUNA Radio Show
CUNA recently announced that its Home & Family Finance Radio show began airing last week in Washington, D.C.
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Bolivia CU Movement Receives Branch, Remittance Boost
The Bolivian credit union sector boasts eight new rural credit union branches, a shared branching network with 64 points of service, remittance distribution and several new savings and credit products thanks to the success of World Council of Credit Unions' Rural Credit Union Growth Program.
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CU Ownership Is Beyond Boardroom TNB Brings CU Ethos to Bank, Card Operations; CU Ownership Pervades Organization
Probably the biggest single bank-like thing about Town North Bank is its name, which stands out against the bank's headquarters building so clearly that many Dallas residents consider the building a landmark, but which belies the distinctly credit union attitude that pervades the institution and colors its customer services, attitudes...
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More Members Own Homes
All other things being equal, credit union members serve as a stronger pool of potential home equity loan borrowers than do nonmembers because 85% of members own their own homes, compared to just over 65% of nonmembers and 73% of all U.S. consumers. Part of this disparity can be attributed...
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Mi Casa Es Su Casa: San Diego Credit Unions Share Branch Space for Mutual Benefit
If people can help people, why shouldn't credit unions do the same?
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Baker Exits Venable for Florida Beaches, Successor is Previous Predecessor
namely marriage and the Florida beaches.
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Special CUNA GAC Issue Directory: Find it Fast
Every year CUNA's Governmental Affairs Conference is a blockbuster event for credit unions, but also Credit Union Times. We have stepped up this year with a number of special features and exclusives throughout our special GAC issue. Use the handy guide below to find what you're looking for fast: oWe're...
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Wolk Makes Preventing Elder Abuse a Statewide Initiative
Yolo Federal Credit Union was recently honored by the Yolo County Board of Supervisors for its leading role in protecting against financial elder abuse.
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ABA Takes Out Ad in Roll Call Attacking CURIA
The American Bankers Association took out an advertisement in Roll Call, a Washington, D.C. political newspaper, opposing the Credit Union Regulatory Improvements Act before lawmakers have even had the opportunity to introduce it in the 110th Congress.
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Alaska's Friendly Trust Laws Help Alaska USA Trust Build Out-of-State Clientele
Alaska USA Trust is looking to build its out-of state alliances with a campaign touting the state as being among the most trust-friendly in the country.
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NCUA FICUs 2006 Financial Results: Mortgage Delinquencies Spike, CDs Surpass Regular Shares as Largest Savings Category
NCUA reported that the 8,362 federally insured credit unions posted solid asset growth while lending growth continued and investments declined.
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How the Billion Dollar Credit Unions Rank with Return to Member
Callahan & Associates' Return of the Member (ROM) Index attempts to measure the value credit unions provide to members.
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CDC FCU Fulfilling Dreams of Moderate Income First-Time Homebuyers
For many first-time homebuyers of moderate income their "dream home" is more often a pipe dream.
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Economy's 'Moderate' Growth, Dose of Reality Could Drive Investors to More Predictable Investments
Despite a slumping housing market, consumers continued to spend as interest rates increased during the fourth quarter of 2006, setting the stage for positive, but lower than average economic growth for this year.
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Ecuadorian CU Board Members Learn Governance at WOCCU Institute
Over 60 board members from Ecuadorian credit unions have learned how to improve their board performance at a special governance training session sponsored by the World Council of Credit Unions.
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TIP Charter Opens Up Providence Health System FCU's Membership in Two States, Technology Helps Connect Tech-Savvy Members
With the myriad of charter evolutions underway in the movement, Providence Health System Federal Credit Union is among those that have found a way to grow its membership by focusing on a niche industry ripe with many untapped layers.
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New Branding Effort Payday Lenders Adopt Reform Package; Move to Get in Front of Criticism
The Community Financial Services Association, the trade association that represents just over half of payday lending outlets in the country, has moved to define the payday lending industry before its critics get to define it further.
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Silver Addys For FCUL Service Group
The FCUL Service Group, Inc.'s marketing efforts targeted to Florida credit unions has received three silver awards in the 2007 ADDY Awards.
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Marketing Has Become Crucial Area in Credit Union Spending
Due to the expansion of members' use of Internet banking, bill pay and check card channels over the past few years, and the continuation of increased competition for members' loan, savings and investment business--from both traditional and nontraditional providers--credit unions are allocating greater amounts of budgetary funds to their marketing...
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Kinecta Thus Far Immune To Soaring California Default Notices
Many credit unions have been largely unaffected by increasing foreclosure numbers, but it's not entirely due to a reliance on more conservative mortgage products. For some, like Kinecta Federal Credit Union, it's simply a matter of serving a financially secure membership that helps ward off the tough times.
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SSFCU Operation Financial Fitness Shifts into High Gear with Military Saves
The Defense Department has designated Feb. 25 through March 4, 2007 as Military Saves Week to encourage service members and their families to establish saving goals and set money aside for emergencies and other needs.
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Bankers Borrow Wescom's Best for Online Banking Summit Panel
Talk about being a fly on the wall.
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AutoSeekers Now Wholly-Owned by Telesis Community Credit Union
Telesis Community Credit Union has become the sole equity owner of AutoSeekers, a national, credit union-owned and operated automotive dealership.
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TJX Card Breach Worse than Previously Thought
TJX, the parent company for the Marshalls and T.J. Maxx retail chains, among others, has suffered more extensive security breaches than was first thought, the company has announced.
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On the Inside
Gentile Takes on the Little Guy
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Fines Possible on Elderly Abuse, Warns San Diego District Attorney
Tighter regulation on reporting of financial abuse of the elderly is in the offing for banks and credit unions and that means fines, a California law enforcement executive warned a CU volunteer group here.
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Master's Program Explores Dynamics Between Cooperative Values and Principles, and Strategic Decision Making
SAN DIMAS, Calif. - What do coffee, wine, newspapers, bottle caps and auto loans have in common? Plenty, when they are produced by cooperatives. The values and principles that cooperatives share, and how they affect strategic decision making, is the basis of a Master's program offered at Saint Mary's University...
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Half of Students Graduate with $5,000 in Card Debt
A survey from Sallie Mae showed that more than 50% of college students graduate with more than $5,000 in card debt.
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PAYjr Rolls Out Prepaid MasterCard
PAYjr, a free online money management system for teens, is doing its part to help parents teach teens how to manage their allowance and develop better spending habits by adding a prepaid MasterCard to its offerings.
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D. Hilton Associates Earns Two Addys
The D. Hilton Associates Marketing and Advertising practice took home two Addy Awards including the ceremony's highest honor--a Gold Addy Award.
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Local Government FCU Car Loans Going 'Green'
For Local Government Federal Credit Union "Green" means go for lower interest rate car loans for new hybrid and alternative fuel vehicles.
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'Miracle Man' Sargent Passionately Guides Children's Miracle Network
The president/CEO of the $1.5 billion First Tech Credit Union here, Thomas E. Sargent, is both direct and passionate about helping sick kids.
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NCUA to Issue Guidance on Daylight Savings Time Change
NCUA plans to issue guidance similar to the one from the Office of the Comptroller of the Currency on the approaching change in Daylight Savings Time that could pose risks to banks that are not prepared.
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PCFCU Starts One Member's Money Management Skills Early
Many things have happened at Parkview Community Federal Credit Union, but never the birth of a baby--until now that is.
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While CU Celebrates New Branch One Member Celebrates New Car
Charter Oak Federal Credit Union recently awarded member Harry Roth a brand new 2007 Ford Focus.
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PSCU Financial, Newtek Enter Product Promotion Partnership
PSCU Financial Services, Inc. will begin promoting to its member-owner credit unions Newtek Business Services, Inc.'s suite of small business services.
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Westerra Credit Union Forms CUSO to Help Navigate 'Misunderstood' Business of Car Repossessions
When Westerra Credit Union made the move into indirect lending a few years ago, management soon discovered that the program's back-end infrastructure needed to be top notch for such a "high-risk" area. The indirect loan program brought with it collections, car remarketing and repossessions, but the $900 million credit union...
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McKechnie Learning to View CU Issues from Different Angle at NCUA; Reputation Is Still Vital for Being Heard on the Hill
NCUA Director of Public and Congressional Affairs John McKechnie is familiar enough with the issues to do his job, but has re-learned how to look at and present them.
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CO-OP ATM Services Launched to Assist Credit Unions with ATM Management; Hopes To Drive Down CUs' High Costs of ATM Ownership
All the pieces appeared to be in place when the discussions began roughly six years ago to bring a plethora of ATM support services to credit unions.
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Massachusetts CU Keeps 'Promise' to Area After Grocery Branch Forced Out
For helping out a struggling underbanked community following the departure of a key business, the $400 million First Citizens' Federal Credit Union, with branches across southeast Massachusetts and Cape Cod, is winning widespread civic praise this month.
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House Financial Services Puts Card Complaints on Agenda
Consumer complaints about how credit card issuers treat them and their concerns have moved onto the agenda of the House Financial Services Committee, according to a joint statement from the chairman of the Committee and the chairman of one of its subcommittees.
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Community FCU Rolls Out Low-Cost Loans to Help Immigrants with Citizenship Fees
Permanent resident aliens living in the U.S. and seeking to become U.S. citizens will get a hand up from a program started by the $8 million North Side Community Federal Credit Union.
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Morris Fills NAFCU EVP Spot with Wealth Of Association, Government Experience
From binary code to produce codes, NAFCU's new Executive Vice President Patrick J. Morris has run organizations dealing with a wide variety of issues. Morris joined NAFCU's staff in February, according to President/CEO Fred Becker. "We are delighted to have someone of Pat's caliber and experience managing our operations and...
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Dakota Governors on VIP List for Inaugural CU Meeting
Along with state legislators and congressmen, the governors of North and South Dakota, John Hoeven and M. Michael Rounds, are on the VIP guest list for the inaugural annual meeting of the Mid-America Credit Union Association here June 6-8, it was announced last week.
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Year-Round Fundraising Pays Off for Children's Miracle Network
Throughout 2006, Wauwatosa Credit Union organized and hosted events to benefit Children's Miracle Network. The CU's dedication paid off as it raised a total of $11,749.53.
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Credit Unions Face Void
the result of the vast majority of the large Baby Boom generation moving into the 45-plus crowd, with a comparatively limited number of Generation Xers to fill the void. With the average adult member at 47 years old, about three years older than the average adult nonmember, and with just...
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Visterra CU Simplifies Real Estate Market With Home Fortunes
Visterra Credit Union is hoping to simplify the real estate game with the rollout of its Home Fortunes program.
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NACUSO Aims to Bring Critical Thinking Back to Address Pressing Industry Issues, More Collaboration in the Works
Before any form of innovation and collaboration can even began to take shape, there has to be the much-needed phase of critical thinking--something that is sorely lacking these days, said Tom Davis, chairman of the National Association of Credit Union Service Organizations.
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Adults Still Slow to Plan for Retirement, Another Survey Reveals
A new Wall Street Journal Online/Harris Interactive Personal Finance Poll found that while 90% of U.S. adults say they plan to retire, more than one in five (22%) have not yet taken any steps to plan for this event.
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Program Helps Parents, Teens Save $20 Million
In its first full year of operation, Early Earners, (www.earlyearners.com) a financial learning site for families that facilitates the startup of savings programs, has helped America's families save over $20 million for the future.
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TNB Card Services Purchases $16 Million Portfolio From A+ FCU
TNB Card Services, the card issuing and processing arm of credit union owned Town North Bank, may have signaled a more aggressive stance toward CU card portfolio purchases with the purchase of a $16 million card portfolio from the $490 million A+ Federal Credit Union, headquartered in Austin, Texas.
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Financial Service Centers Cooperative to Award Record Dividend
The Financial Service Centers Cooperative expects to award $2 million in dividends to its members for transactions concluded in 2006, the network said.
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HEW FCU to Host Art Exhibition Tied To Black History
Art from an art collective in one of the underserved areas that is part of its field of membership will decorate the walls of one of HEW Federal Credit Union's branches.
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CO-OP Offers ATM Screen Management Tool
CO-OP Financial Services is rolling out a product that it says will help credit unions more effectively cross- sell products and services through its ATM screens.
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Credit Unions Staying at ARMs-Length from Skyrocketing Foreclosure Rates Through Fixed-Rate Mortgages and Member Education
Foreclosure numbers for 2006 are in and they paint a worrisome picture. More than 1.2 million foreclosure filings were reported nationwide in 2006, a 42% leap from the previous year, according to the 2006 U.S. Foreclosure Market Report released by RealtyTrac, an online marketplace for foreclosure properties. That's a rate...
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Vermont State Employees CU Biz Loan Helps Upgrade Fire Dept. Truck
Vermont State Employees Credit Union recently pitched in to help the local fire department get newly-refurbished fire trucks.
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Messick's Law Experience, Collaboration Philosophy Helps Build Two Decades Worth Of Connections in Credit Union World
Nearly 20 years ago, a high school reunion became the backdrop for Guy Messick's reputation for building collaborations.
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Security Service FCU Taps Teens for Advisory Group
Security Service Federal Credit Union is looking to get the 411 on younger members to help develop new innovative services and programs that would appeal to the group.
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CUES Surveys Finds Increases in CEO Compensation, Dip in Staffing Levels
Credit unions seem to be doing more with fewer employees.
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Incumbents Win in DFCU Election
Over 26,000 members participated in a board election that returned three incumbent board members, one of whom voted to try to convert the credit union to a mutual bank in 2005, to their seats.
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Indirect Lending Cross-Selling Solution Helps SAFE CU Boost Sell-Through Rates To Over 20%
SAFE Credit Union has been doing indirect lending for 14 years and like many credit union indirect lenders, it realized early on that members that are signed up at the local auto dealer are not typical members.
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Cherry Trees Are Blooming Just Around The Corner
The 35th Credit Union Cherry Blossom Ten Mile Run will take place on April 1 this year. More than 10,000 competitors, including more than 500 congressmen and Capitol Hill staffers are registered to participate. To date, 130 credit unions and partner organizations from across the U.S. have pledged support for...
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Big Deal Takes InfiCorp Away from CU Card Portfolio Market
Working on absorbing a huge new client's card portfolio has caused InfiCorp, long a significant purchaser of CU card portfolios, to back away from its aggressive purchasing strategy for now.
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Learning How to Deal Understanding 'The Credit Union World'
Industry leaders employ a variety of methods and techniques to position their organizations for success. Wendell V. Fountain's new book, The Credit Union World: Theory, Process, Practice Cases & Application, attempts to hone in on some of these practices to give credit unions the edge to succeed.
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Mergers to Stagnate in 2007, Expert Says; NCUA Approved 313 in 2006, 281 Completed
Smaller credit unions do have a place in the credit union community, but mergers are sometimes necessary or in the best interest of the membership, Merger Solutions Group President David Bartoo, said.
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Pacific Service CU Helps Bring Wildlife Education to Classroom
Pacific Service Credit Union has donated $5,000 to the Lindsay Wildlife Museum for the Animals in the Classroom program. The donation will be used to provide museum tours and outreach programs for economically disadvantaged schools in Contra Costa and Alameda counties.
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Members to Vote Again on 'Optiva' Credit Union Name, CU CEO Respects Members' Passion But Concerned About Misinformation
A petition from more than 140 members of the University of Iowa Community Credit Union has prompted a new vote on changing the financial institution's name to Optiva Credit Union.
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Key Findings From the IHEP Student Loan Study
Of all student loans awarded, $16 billion (19%) was in the form of private loans compared to less than 5% just 10 years ago. The vast growth in private loans is being facilitated by several factors including rising college costs, stagnant federal loan limits, increased private loan profitability, and increased...
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NCUF Receives Money for Credit Union IDAs
The U.S. Department of Health and Human Services has delivered a grant of $415,000 to the National Credit Union Foundation, which the NCUF will, in turn, distribute among credit unions to fund their individual development accounts.
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Hampel Cited in USA Today Article on Retail Sales; NAFCU Says Slowdown Indicates Slower CU Loan Demand
CUNA Chief Economist Bill Hampel has grabbed hold of the mainstream media lately in all the hoopla over slower consumer spending and is using the time to put credit unions on the map.
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Bank and Thrift Agencies Seek Comment on Basel II
The federal bank and thrift regulators have announced that they will seek public comment guidance documents related to Basel II.
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CU ATM Pioneer Credit Union 24's Jim Park Has Backed ATMs Since There Were ATMs
Years ago, as he bounced on stage wearing his fluffy, yellow, Big Bird costume, Jim Park, CEO of Credit Union 24, had never heard of an ATM and didn't have a clue that he would wind up spending the bulk of his career promoting the use of the machines.
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Members Included in TV Spot for CU
As school children were lining up to take buses home from Frisbie Elementary School in Wolcott, Waterbury CT Teachers Federal Credit Union's Vice President of Marketing Libby D'Orso was ready to begin the process of filming a new television commercial for the credit union.
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Most Important CU Member Group Weakest in Member Penetration
According to a recent study conducted by International Communications Research on behalf of CUNA, one in three U.S. adults (32%) is a member of a credit union. Credit unions record their highest member penetration levels within the 35 to 64 age groups and their weakest in those 18 to 34....
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Member Loyalty Benefits CUs; Just Who is Loyal?
Nearly 25% of members are considered "truly loyal" to their credit union. Someone who is "truly loyal" meets all four of the following criteria:
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WesCorp Creates Employee-Based PAC; Provides More Flexibility for Political Giving
The $27 billion WesCorp has created the WesCorp Credit Union Employees PAC to enhance and formalize its commitment to supporting the political plight of the credit union industry.
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Jeanne D'Arc CU Receives $138,000 Training Grant
To help its employees receive extra training in leadership and management skills, project management, process improvement, sales and time management, Jeanne D'Arc Credit Union recently received a grant from the state for $138,355.
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BizKid$ Set to Romp During GAC; Long-Awaited PBS Show Set to Air in April
With its formal TV debut set for broadcast in October, the BizKid$ were "ready to romp" at this week's GAC conference.
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CUs Benefit from Primary Financial Institution Status
Being a member's primary financial institution brings with it tremendous market penetration, market share and bottomline benefits. For virtually every financial service examined in CUNA's National Member Survey, members who consider the credit union to be their PFI are two to seven times as likely, depending on the service, to...
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TDECU Celebrates Milestone
TDECU recently celebrated the addition of its landmark 100,000th member, Mario Garcia of Clute, Texas.
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Ohio Credit Union Walkers Plan 19-Day 'March for Kids'
Seeking to underscore the giving spirit of credit unions while also demonstrating public service and advocacy, a group of Ohio credit unions is planning an unusual 19-day, across the state walk-a-thon benefiting Children's Miracle Network.
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NCUA, NASCUS Work Together for Health, Safety and Soundness of CU Industry
NCUA and NASCUS, as well as the state regulators, serve as resources and sounding boards for regulatory trends and concerns.
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Second Largest Pennsylvania CU Adds CO-OP Network
The second largest credit union in Pennsylvania, the $2.4 billion Police and Fire Federal Credit Union, has added CO-OP Network, the surcharge-free ATM network run by CO-OP Financial Services to its ATM services, CO-OP has announced.
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Choice of Financial Institution and Age Play Factor in Use of Delivery Channels
The vast majority of credit union members use multiple channels to conduct their financial transactions. Over 90% conduct business inside a financial institution's lobby, while roughly 70%-75% conduct ATM withdrawals and drive-up window transactions, and make credit card and/or check card purchases. Credit union members are weaker users of drive-up...
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MasterCard Contactless Card Commercial to Debut During Academy Awards
A MasterCard commercial directed by a leading film director will debut on the broadcast of the Academy Awards on Sunday Feb. 25, the card brand announced.
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Credit Unions Filling Financial Literacy Void See Great Success; Education, On-Site Services Are Key
Credit unions have a unique opportunity to take the lead in fulfilling the consumer need for financial education.
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Education Loan CUSO, USC CU Tops the List of CU Lenders
According to the latest Student Market Measure Report, USC Credit Union, when combined with its wholly owned CUSO subsidiary, Education Loan Resources, Inc. is the nation's leading credit union student loan originator.
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American Airlines Goes with CO-OP Financial Services
The $4.1 million American Airlines Federal Credit Union has chosen CO-OP Financial Services for ATM driving and debit card processing. The credit union has more than 204,000 members, 131 ATM's and more than five million debit cards.
Front Page News
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End of an Era CUNA's GAC Says Farewell to Historic Hilton; Mica Looks to Reach 10,000 Attendees
CUNA President/CEO Dan Mica is torn between sentimentality and progress concerning the last Governmental Affairs Conference to be held at the Washington Hilton.
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In Latest Salvo, Lafayette Chairman Says More Members Could be Sued
In a second message in three weeks Arnold Rosenthal, chairman of the board of the $320 million Lafayette Federal Credit Union, has lashed out at members who opposed the credit union's attempt to change to a mutual bank charter and threatened to sue some who have been circulating a petition...
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Credit Union Times Awards Program Concludes At GAC, Who Will Win?
The 12 Finalists Are Featured on Pages 60-77.
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Patrick McHenry: What He Really Thinks of Credit Unions, MSB Conversions, Democrats
Congressman Patrick McHenry (R-N.C.) enjoyed a Republican majority during his first term in the U.S. Congress, but now has to contend with the Democratic body that wants to take the country in a direction with which he does not agree.
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CFO Challenges: Excess Capital, Tight Margins, and Finding Growth
Keeping a watchful eye on the bottom line is one of the many critical duties for which a credit union CFO is responsible, but as of late, knowing how to navigate around an inverted yield curve and deal with "razor thin" spreads have made it that more complex in a...
News Briefs
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Memorial Fund Honoring Purcell Hits $50,000
The California/Nevada Credit Union Leagues announced its "Kelly J. Purcell Credit Union Memorial Fund" has now reached $50,000 with its first scholarship recipient to be honored at a Feb. 26 dinner during CUNA's GAC conference in Washington, D.C. The fund was created in memory of Purcell, the former director of...
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Westerra CU Preps Merger Assistance Kit Through Nice Enterprises Alliance
Westerra Services, Inc. and Nice Enterprises recently entered into an agreement to offer a comprehensive merger product to assist credit unions in all aspects of the merger process.
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CULAC Breaks Own Record Again
CUNA's Credit Union Legislative Action Council raised and distributed record amounts for political campaigns during the 2005-2006 election cycle.
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NAFCU Economist Moves on To Associated Builders and Contractors
NAFCU Senior Economist Jeff Taylor will be leaving the credit union trade association to join a contractors' association in March.
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NCUA Takes Over Conserved $348 Million Huron River Area CU
Expert staff hired by NCUA is now managing Huron River Area Credit Union after the credit union was placed into conservatorship Feb. 16.
Regulatory/Compliance
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Iowa Bill Could Pare Down Credit Union Input on Regulations, Exams, Fees, League In Talks with CU Superintendent to Plead Case
In a bill that could essentially reorganize the Iowa Credit Union Act, one addition could change how strong of a voice credit unions might have on regulations, examinations and fees. According to Iowa Senate File 38, section 7, a "credit union council" would replace the current "review committee." The council...
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Homeowners Targeted by CRA Loans
The Federal Reserve Board recently warned the public about inquiries and complaints it is receiving related to direct mail suggesting cash grants or equity disbursements are available through a Community Reinvestment Act program.
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NCUA Takes Control of Conserved Kansas Credit Union
The Kansas Department of Credit Unions appointed NCUA conservator of Communities United Credit Union in Wichita, Kan.
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New York Banking Regulator Moving to Wolfensohn & Company, LLC
New York State Superintendent of Banks Diana L. Taylor will be joining the private investment and consulting firm Wolfensohn & Company, LLC as of March 15.
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Retired NCUA Examiner/Union President Sentenced for Hacking Agency Computer
NCUA Region I Examiner Ray Lindeman Jr., who pleaded guilty in November to unauthorized access of a government computer, was sentenced this month.
Tech Bytes
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Centris FCU Signs with USERS' Maestro Project Group
USERS Incorporated, a business unit of Fiserv, Inc., announced that Centris Federal Credit Union has contracted with its Maestro Projects Group for an account enrollment integration project.
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COCC Signs Worcester Credit Union
Worcester Credit Union is converting to COCC's core processing solution.
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GalaxyPlus Offers to Help CUs Treat Members Like S.T.A.R.S.
GalaxyPlus Credit Union Systems is offering its more than 300 client credit unions the chance to treat their members like S.T.A.R.S.
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CU*Answers Unveils New Web Hosting Platform Capabilities
CU*Answers' Web Services team has produced a new platform that will allow credit union staff to personally administer select modifications and updates to their sites and manage their CU*Answers hosted e-mail addresses. The platform also provides a display of critical statistics via a comprehensive graphical Web hosting control panel.
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Portal Adoption Continues in Drive for Self-Service Efficiency
Intranet portals continue to be adopted by businesses and organizations nationwide, according to a Forrester Research report, and the overwhelming reason continues to be facilitating self-service for managers and other employees. The think firm based its findings on a survey of 800 benefits executives nationwide.
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Waterbury Connecticut Teachers FCU Turns to Lending Solutions
The $138 million Waterbury Connecticut Teachers Federal Credit Union has turned to Lending Solutions for loan-by-phone and online lending services. The credit union has also signed on to LSI's IdentityShield product to help insulate its members from identity theft.
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Fiserv Converts 33, Signs 49 New Core Clients in 2006
Fiserv says its seven Credit Union Group units converted 33 new credit union clients to their core systems in 2006 and now provide core processing to 2,715 credit unions nationwide.
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Gateway Metro CU Joins IntegraSys in Getting to the 'Core' with HSA Accounts
A change in how its membership's core employer provides health care benefits prompted Gateway Metro Credit Union to turn to its core processor for help in offering the new health savings accounts.
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CU*Answers to Offer New 'Personalized' Online Banking Platform
CU*Answers says it's going live with a new online banking platform in October and announced the signing of seven new core processing clients.
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Identity Theft Takes High-Tech, Low-Tech Avenues Alike
Identity theft occurs through a variety of channels, high tech and low.
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Harland Financial Solutions Announces Three UltraData Signings
Harland Financial Solutions says it has signed three more credit unions to the UltraData Enterprise core processing platform.
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ABE CU Goes With Software Token Tool
Anheuser-Busch Employees Credit Union will be strengthening its online authentication services through software token technology from OHVA Security, the company says.
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Credit Unions Steeped in Online Training, Want an Easier Way to Pay
For its latest Flash Report, NAFCU looked into the popularity and uses credit unions have for online training.
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Online Bill Pay Adoption Continues to Accelerate
Only 8% of American households paid bills online in 1999. By 2011, that figure should soar to 63%, according to a study by Forrester Research. The growth rate for Generation Y online bill payers will be a whopping 157% from 2006 to 2011, the think firm calculates.
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Harland Adds Pattern-Recognition Tools to CRM Suite
Pattern recognition technology is usually associated with security tools, but Harland Financial Solutions is using the idea to detect when a consumer might be a good candidate for cross selling. Atlanta-based HFS is partnering with Synapse Technology to offer the SynapseEBM Pattern Evaluator Engine as part of its business intelligence/CRM...
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ACUL Supplies Free Security Breach Service to Member CUs
The Alabama Credit Union League will immediately begin providing a new Security Breach Response program to 81 of its participating member credit unions. The program will come at no cost to the CUs.
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Postilion Offers Updated Voice Banking Platform
Postilion is now offering what the S1 subsidiary calls the next generation of fully integrated voice banking.
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Think Firm Finds Small Business Offerings Big Business for Small Banks
Credit unions eyeing the small business market aren't alone.
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Credit Unions Still Popular Among Hack Attackers
Credit unions continue to be a popular target for hackers attempting to get behind the firewalls of a financial institution. SecureWorks says it blocked a total of 275,285,788 attacks on its 471 credit unions clients in 2006.
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Oregon Credit Union First To Interface XP2, fiVISION Solutions
Advantis Credit Union plans to be the first credit union to interface the CRM platform from fiVISION with the XP2 core processing platform from XP Systems.
Special Report
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Clearview, Cricket Join Forces for Member Convenience
Clearview Federal Credit Union and Cricket Communications are making it easier for area residents to pay their wireless bills.
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New Senior Director of Retail Branch Admin at Desert Schools
Desert Schools Federal Credit Union has promoted Theresa Fadel to senior director of retail branch administration.
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Founders FCU Elementary School Branch Site of Savings
A Founders Federal Credit Union branch located at Ebenezer Avenue Elementary School is doing its part to encourage savings among students here.
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Vantage CU Hosts Olivette Grand Opening
Vantage Credit Union has recently celebrated the grand opening of its latest branch in Olivette.
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Truliant FCU Opens New Facility in Kernersville
Truliant Federal Credit Union has recently opened the doors to its latest state-of-the-art member financial center in Kernersville.
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Rogue FCU Branches Out to Eagle Point
Rogue Federal Credit Union is gearing up to move into Eagle Point.
Letters to the editor
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Capital Levels Not as 'Lofty' as They Might Seem
What goes around comes around. What has happened can happen again. History repeats itself. Those who do not learn from history are bound to repeat the mistakes of others. Pick your platitudes, but let's really try to learn a little bit from history. I respect CUNA's Bill Hampel as an...
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Are All These Exotic Locales Really Necessary?
I have noticed an alarming trend in the last several years and that is that almost all conferences and seminars are being held in large resorts located in such areas as Hawaii, The Bahamas, Arizona, ski resorts in Colorado, and even one on a cruise ship. I for one could...
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NCUA, CUNA Have Helped Us Weather Underserved Service Attack
Going into 2006, there were many of us who were very concerned about the outcome of the various studies and initiatives on credit union service to members of modest means.
Looking Back
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Looking Back
Looking back four years ago finds Senate Majority Leader Tom Daschle (D-S.D.) and House Judiciary Committee Chairman Jim Sensenbrenner (R-Wis.) bringing some sparks to CUNA's 2002 Governmental Affairs Conference and giving bankruptcy reform supporters reasons to hope their legislation may reach President Bush's desk sooner rather than later.
Opinion
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Another Way to Look at Low-Wealth Households
Creating Value in Underserved Markets. If you haven't read it, you should. It never mentions credit unions; but it's all about credit unions. Untapped provides specific examples of how businesses around the world have had success reaching and growing business among underserved communities that previously were not considered viable customers.
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Financial Institutions Require Flexibility in Currency Transaction Report Filings
In January, my colleagues on the House Financial Services Committee and I began 2007 on a bipartisan note by bringing to the floor an important piece of unfinished business remaining from the 109th Congress--legislation that would relieve financial institutions from having to file Currency Transaction Reports for "seasoned customers." H.R....
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Health Savings Accounts: A Real Member Benefit
Meaningful discussion has been going on, recently, regarding the value of membership in a credit union. In addition to owner equity, good rates, convenience and confidence, members rate products and services high on the scale when it comes to valuing their credit union membership. With affordable health care at the...
Publisher's Column
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I Love the Little Guy and Congress Will Too
Many people reading this column at CUNA's GAC have already seen the Little Guy. He's all over the place and quite a friendly fellow.
GAC
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It's All About the Member Experience Says Redwood CU SVP Marketing/PR
Stay true to the benefits of membership and you can never go wrong says Redwood Credit Union Senior Vice President of Marketing and Public Relations Robin McKenzie.
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Actors FCU Board Secretary Makes Sure Performing Artists' Voices are Heard
Actors Federal Credit Union Board Secretary Gil Rogers has never backed down from a fight especially when it comes to helping actors and performing artists become financially secure.
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Wescom's Guilford Still Builds on Lifetime of Credit Union Innovation
The son of the late Helen Guilford, former CEO of Xerox Federal Credit Union, his summer and college jobs were working with his mom. Then three weeks after graduating from the University of Redlands with a degree in finance, he found himself managing a small credit union himself at a...
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Building Relationships, Acting Locally Key to Merrimack Valley FCU's Political Success
Since Peter Matthews, the son and cousin of Massachusetts' mayors, took the helm of Merrimack Valley Federal Credit Union, political action has become a priority.
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Credit Union Times Leadership Awards
Credit Union Times Leadership Awards
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Rise from Teller Ranks Helps Yokum's Continued Quest to Keep Members First by Helping Establish Early, Smart Financial Habits
Evolution, some say, is the key to survival, but putting that theory into practice is not as easy as it seems.
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Altura CU Marketing VP Takes Cues from Surroundings to Play Up CU Difference
"We try to do quirky things that you don't see others doing and our members love it," said Michalka. "In our weekly brainstorming sessions we discuss anything that has caught our eye not only from other financials but ideas can be inspired by something we saw at Nordstrom, Target or...
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A Leader in the Community, a Master of Operations, Hash Has Elevated MECU of Baltimore to New Heights
If you live in Baltimore, chances are you've heard of Bert Hash.
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If We Teach Them, We Can Help Them Option 1 Program Focuses on Teaching Disabled to Fend for Themselves Financially
Often credit unions go looking for underserved people in their fields of membership to serve. But sometimes the underserved come looking for help and it's up to the credit union to respond.
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Faces Have Changed But CUNA's GAC Maintains Strong Focus on Washington Affairs
After this year, CUNA will no longer be holding its Governmental Affairs Conference at the Washington Hilton as it has for about the last 30 years.
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Young IT Veep Grows List of Accomplishments, Admirers
Heather Ebaugh was a college student studying behavioral science at Wilmington College when she was hired by Delaware Federal Credit Union (Del-One) in November 1995 as a teller.
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Political Action a Matter of Survival in Utah; America First Has Risen To The Occasion
In an environment like Utah, which is particularly hostile toward credit unions, political participation comes down to eat or be eaten.
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Board Chairman's Economic Lessons Give Boost to Idaho State University FCU, CU Movement
How often are you able to find joy in both your professional career and your volunteer efforts?
People
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EAST
eanne D'Arc Credit Union, Lowell, Mass., has promoted Denise Bouchard to vice president, information technology officer; Paul McDonald to vice president, consumer loan manager; Fred McCardell to assistant vice president, systems officer; Patricia Dery to assistant consumer loan manager; Sheila Fortin to information security officer; Kathleen Gendron to card services...
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SOUTH
First Florida Credit Union, Jacksonville, Fla., has named Brent E. Lister president/CEO; Linda Jones executive vice president/COO; Mike Davis senior vice president, lending; Libby Polk senior vice president, administration; Michelle Troha senior vice president, marketing; and Andrea Hurley, senior vice president, security and compliance, due to its recent merger with...
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MIDWEST
Affinity Plus Federal Credit Union, St. Paul, Minn., has named Corey Rupp director of lending. Scott Credit Union, Collinsville, Ill., has appointed Michelle Prickett as assistant branch manager of its Edwardsville Branch. Kemba Credit Union, Indianapolis, has promoted Michael Dukehart II to marketing and business development manager and Michael Pence...
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WEST
Oregon First Community Credit Union, Bandon, Ore., has promoted Erin Robertson to banking center manager; Sarah White to senior loan officer in its Coos Bay Banking Center; and Sarah Winkler to senior loan officer in its Reedsport Banking Center. The CU has also appointed Mike Leep to accounting manager in...
Beyond the Job
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Marketer Uses Musical Talents to Provide 'Homespun' Touch to CU Ads
Looking for that "hometown" feel in credit union advertising that really raises the profile? And done on the cheap?
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Middleman Scales Mountains to See Bird's Eye View
Larry Middleman looks forward to the times he can take to the outdoor trails in search of a mountain to scale.
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Never Too Old to Run Says Mountain America HR Exec
Mountain America Credit Union Human Resources Business Partner Joyce Short is proof that it is never too late to run a marathon.
Billlionaires Club
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Speed Keeps TDECU Flying High; Strong Member Penetration Rate Fuels Growth
The name is still officially Texas Dow Employees Credit Union, but check the Web site and other information and you'll find that it's consistently condensed to TDECU.
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Ascend FCU Says 'Thanks, Members' $3 Million Times; Broader Member Base Keeps Growth on Track
Members of Ascend Federal Credit Union might be tempted to have some bumper stickers printed: I Love My Credit Union $3 Million Ways.
Clarifications/Corrections
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Correction
Correction In a techbyte in the Jan. 31 issue entitled, "Bluepoint Solutions Offers Process for OTG Sunsetting," Bluepoint Solutions incorrectly stated that Symitar, a Jack Henry subsidiary, was phasing out its OTG document management solution. Symitar is not phasing out the product and is still actively offering it to its...
Resource Center
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