DONATIONS Numerica Credit Union, Post Falls, Idaho, Silverwood Theme Park and KXLY's Kalae Chock made the first presentation of the First Class School Champion Award recently at Ponderosa Elementary. Madeline Baker, a Ponderosa fourth grader who helps out in the school's kitchen, nominated Ramona Hansen, a baker at Ponderosa, for...
MILESTONES Mutual Savings Credit Union, Birmingham, Ala., recently offered two special 7% certificate of deposit specials to celebrate 70 years of service. Originally created to serve employees of U.S. Steel's Fairfield Works, Mutual Savings Credit Union has been serving communities since 1936. MSCU offered two special CDs: 7% for seven...
When it comes to purchasing a lot for the next branch the golden rule of location, location, location gets a bit more complicated for a community credit union. For K-25 Federal Credit Union, which decided some three years ago that adopting a community charter was its best option for continued...
City County Credit Union of Fort Lauderdale is reaching out to the Caribbean community in Broward County.
NASCUS recently unveiled its latest Web site design (www.nascus.org).
In a challenge to what has become conventional wisdom in many quarters, a research report prepared for the Federal Reserve Bank of New York argues payday lending is not necessarily predatory lending.
Several large credit unions adopted a number of underserved areas late last year.
The New York Credit Union Foundation is helping credit unions better serve members by offering a new grant making program designed to give a boost to CUs' operating infrastructure.
Baxter Credit Union has hired John Bratsakis, former president/CEO of Community Trust Credit Union, as its new senior vice president of business development.
Two officers have been elected to NASCUS' Credit Union Advisory Council Board.
Credit unions with Centrix Financial subprime loans in their portfolio were hopeful last week that a bankruptcy court's tentative approval of the company's sale might improve service performance. "The final changes made in the settlement appear to alter service agreement terms and for some credit unions that might prove helpful...
Desert Schools Federal Credit Union, in partnership with Elan Financial Services has named Stephanie Parker the grand prize winner in its Visa Card "Wanted" promotion.
What better way to know what's on younger members' minds than by asking?
Reflecting the industry trend toward mergers and consolidation, the New York State Credit Union League announced last week a reduction of its board size and a new governance structure reflecting credit union asset size.
The CUES Executive Technology Forum is looking to help credit unions embrace the Internet to attract the next generation of members.
The Fort Worth Business Press has singled out Ruth Ann Kearley, president of full-service advertising, public relations and branding agency Kearley & Company, as one of the area's Great Women of Texas.
Most credit unions have less at stake than banks regarding legislation that passed the House proposing cuts to student lending subsidies, according to CUNA.
Redwood Credit Union has partnered with the Santa Rosa Chamber of Commerce and Charles M. Schulz--Sonoma County Airport to help Horizon Air's commercial airline service from Sonoma County take off.
For Paula Edwards, the former president/CEO of Nationwide Federal Credit Union, the conversion and merger into Nationwide Bank last November turned out to be a valuable learning experience "with wisdom gained and lessons learned" about respecting the moral rights of CU members.
Centrix Fallout Continues
NCUA Associate General Counsel Sheila Albin stated in a legal opinion that federal credit unions are permitted to provide housing counseling services to nonmembers under a grant program by the Department of Housing and Urban Development.
New Horizons Community Credit Union, the Denver CU that fell victim to construction loan losses and Centrix Financial delinquencies, is going on the auction block in a purchase- assumption deal ordered by the state's top regulator. The $180 million New Horizons, whose dire financial plight last April triggered a state...
Wolters Kluwer Financial Services has announced an agreement to acquire substantially all the assets of Banconsumer Service, Inc. (BANCO), a provider of regulatory compliance-related documentation solutions.
NAFCU's White Hat for 2006 political fundraising went to Members 1st Federal Credit Union for the fourth year in a row.
The New York Credit Union Foundation is helping credit unions better serve members by offering a new grant making program designed to give a boost to credit unions' operating infrastructure.
The executive committee of the Credit Union Legislative Action Council of CUNA has confirmed 23 Trustees to serve two-year terms.
The 115,000 members of the $1.5 billion Tower Federal Credit Union, headquartered in Laurel, Md., don't have to wait very long for their new credit and debit cards.
NAFCU Services Corporation has joined forces with Wolters Kluwer Financial Services to offer credit unions a free Webcast on one of the hottest topics of the day: Bank Secrecy Act due diligence.
One conflict that could end in another credit union bylaw dispute has been quietly moving along.
PSCU Financial Services has increased its commitment to the Filene Research Institute.
CoastHills Federal Credit Union has become the latest owner of Member Business Services.
During last week's American Association of Credit Union Leagues 2007 Annual Meeting in Palm Desert, Calif., North Carolina Credit Union League President/CEO John Radebaugh (left) and CUNA President/CEO Dan Mica signed an agreement in which CUNA will coordinate the league's education and training programs for credit unions.
Thanks to the impact that consumer inflation is having on overnight and short-term interest rates, credit unions' investment and consumer loan pricing could benefit this quarter.
Michael Mercer, president/CEO of the Georgia Credit Union Affiliates, has been honored with the American Association of Credit Union Leagues' Eagle Award, one of its highest honors.
CUNA President/CEO Dan Mica met with ranking member of the House Ways and Means Committee Jim McCrery (R-La.) on Capitol Hill Jan. 23 to discuss credit unions' interest in working with other financial institutions for progress on issues of common interest, including data security and improving financial services capabilities in...
"Know thyself" could be the most valuable lesson for credit unions.
The transformation of the Moreno Valley area has seen more than a 26% rise in population between 1990 and 2003. With a 2005 U.S. Census Bureau report listing it as having the sixth fastest growth rate among large cities, Visterra Credit Union's original branch and headquarters, built in 1970, strained...
WesCorp's Operation Best Wishes hit Utah last week. Here Kristie Palfreyman is surrounded by her daughters as they Webcast a Valentine's Day greeting during Operation Best Wishes to Chief Warrant Officer Scott Palfreyman of the Utah Army National Guard deployed in Afghanistan. Operation Best Wishes staff members Anita Santarelli and...
Financial planning has taken on several different meanings over the past few years as retirees are living longer and trillions of dollars of wealth are poised to pass between generations over the next decade.
Financial institution trade associations told the President's Identity Theft Task Force that their members are regulated enough and that merchants and processors require greater accountability.
CU Members Mortgage has announced a new financing product available for purchase-money loans on single-family residences.
Members of Baker Federal Credit Union will soon be able to simultaneously get some extra money to tide them over and save for a rainy day.
Credit unions across the country joined forces with marketing communications firm Visions, Ink to mark their calendar to benefit the Children's Miracle Network.
American Airlines Federal Credit Union has turned to full service independent agency Direct Marketing Network to manage all its direct marketing.
To help small businesses obtain financing to which they might not otherwise have access, two New Jersey credit unions have linked up with a new program to help out.
The two Tampa appointees to what is thought to be the lone credit union director's slot in the Federal Reserve System were speaking out last week on the need for a higher CU profile in the nation's central bank. "This is the best kept secret," declared Wendell "Bucky" Sebastian, president...
If the housing prices are dipping significantly someone forgot to notify Southern California.
The Florida Credit Union League Service Group has teamed up with Telecom Recovery to help credit unions and members across the country stay connected.
Describing a recent New York Times article as "inaccurate" and "unnecessarily alarmist," Small Business Administrator Steven Preston wrote a letter to the publication expressing his dismay on coverage of the agency's disaster assistance loan program.
When it comes to coping with severe adversity in a scandal-plagued credit union and then methodically charting the turnaround, 30-year-old Eric A. Bruen figures he could easily write the faith-based book. "I just love this industry and when I was brought in to face this challenge, it was something I...
Twelve years in, Hope Community Credit Union continues to be among those growing its membership the fastest, but the growth has come during a time when many of its members are still recovering from the deadliest hurricane on record.
The firestorm over the IRS' Unrelated Business Income Tax rule has ignited again and will very likely lead to a lawsuit.
More credit unions appear to be watching and monitoring card accounts that have been reported as compromised in the latest major retailer card breach, rather than quickly closing card accounts and reissuing plastic.
NCUA is considering how it might be able to have a say in some of the bylaw disputes that have begun to crop up between credit unions and their members. NCUA Board Chairman JoAnn Johnson alluded to the interest in the topic during her remarks at a recent meeting of...
NAFCU's regulatory affairs staff has seen some changes over the last few years, but they are keeping on their toes to ensure they represent their members' wishes.
NAFCU Services Corporation has partnered with Consumers' CHECKBOOK, a nonprofit organization, to offer members of NAFCU-member credit unions discounted subscriptions to Consumers' CHECKBOOK Magazine and full access to www.checkbook.org.
NAFCU submitted a letter to NCUA recently in response to the agency's request for comment on the interim final rule encompassing share insurance appeals and the NCUA Board's enforcement authority.
The Federal Reserve Bank of Chicago today announced that President/CEO Michael H. Moskow, in keeping with Federal Reserve mandatory retirement policy, will step down Aug. 31, after 13 years.
Credit unions looking for another business lending program resource have the Credit Union Executives Society to turn to. CUES has expanded its business lending program to include a Basics of Business Lending seminar, which will make its debut March 21-23 at The Fairmont Dallas. The session's topics include strategic issues...
The American Association of Credit Union Leagues is the latest to make a donation to the building of the Martin Luther King Jr. National Memorial.
The Pennsylvania Attorney General has decided that the data security breach at TJX is big enough that it has obviated a Pennsylvania law that required businesses with data breaches to notify cardholders that the card data had been compromised, according to a story in the Pittsburgh Post-Gazette.
NCUA issued seven orders of prohibition against former credit union employees, barring them from participation in any federally insured financial institution.
NCUA Board Member Gigi Hyland is scheduled to facilitate NCUA's next Access Across America Economic Empowerment Summit in Tampa, Fla.
Showing that three of the major banking trade associations are cooperating to ease bank tax burdens, the American Bankers Association, America's Community Bankers, and the Independent Community Bankers of America signed onto a letter supporting Subchapter S legislative reforms.
Governor Phil Bredesen recently named Greg Gonzales commissioner of the Department of Financial Institutions in Tennessee.
Governor Chet Culver has announced that Jim Forney will continue serving as superintendent of the Iowa Credit Union Division. Forney has been serving as the Superintendent of Credit Unions in the Iowa Department of Commerce Credit Union Division since 1988. Forney is a member of the NASCUS Board and served...
Eyebrows were raised at financial services trade associations after the Financial Crimes Enforcement Network submitted a report to the Treasury Department stating that reporting cross-border wire transfers by financial institutions is "technically feasible" and worthwhile.
The Federal Housing Finance Board has unanimously adopted an interim final rule establishing procedures for the selection of appointed directors to the boards of the Federal Home Loan Banks.
Bluepoint Solutions is offering a solution to credit unions affected by Symitar's sunsetting of its OTG document management solution.
Rennhack Marketing Services is offering a Web-based rewards program for credit unions of all sizes to target to members and employees, the company says.
Wescom Resources Group rolled into 2007 looking to build on a second-straight year of 35% revenue growth and an expanding base of client credit unions.
Credit union data processor EPL has entered into a partnership with Indirect Lending Technologies, LLC, which will allow it to offer the DEALER INDIRECT LENDING AND LEASING SYSTEM product, or DILLS, to its clients.
SilverCloud Software says it added eight new credit union customers in December to its list of more than 140 using the company's knowledge management systems.
It was a very happy New Year for the $2.1 billion GTE Federal Credit Union.
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.
Setting aside enough money for an advertising budget is always a challenge, especially when a comprehensive campaign is much more than what it used to be. Aside from traditional marcom materials, we now live in the age of YouTube, Bluetooth technology and iPods. The emergence of new technology is a...
I would like to commend Paul Gentile for his Jan. 3 column on branding credit unions. It's good to see that Credit Union Times is promoting something that I believe is critical to the success of credit unions. As our good friend Ed Callahan often said, "credit unions are America's...
NCUA Board Member Gigi Hyland recently addressed a "compliance conference" co-sponsored by the Credit Union Times. Her keynote address was titled "Keeping the B.S. out of BSA." Her comments as reported in the January edition of the NCUA news were, I'm sure, less than comforting to those attending.
UBIT, UBIT, UBIT...no it's not a bad imitation of a frog croaking, it's the IRS' Unrelated Business Income Tax and it's about to move to center stage.
Targeted Hispanic Marketing Spending to Increase
EAST Saugus Federal Credit Union, Saugus, Mass., has named Mirela Jonuz member services manager. Northeast Credit Union, Portsmouth, N.H., has appointed Bob Rivard to business development officer. DuPont Community Credit Union, Waynesboro, Va., has appointed Larry Reitenauer to vice president of administration. SOUTH Walter Hobby has been hired to fill...