In Other News
Colorado State Employees Credit Union wants to give young people credit--the kind of credit that can help them get a good job or reasonable insurance rates.
As a former member of Congress, Hill staffer, and now lobbyist, CUNA President/CEO Dan Mica handed out advice for legislative visits to readers of The Hill newspaper in its "K Street Insiders" section.
Four more credit unions have sold their credit card portfolios to TNB Card Services, the card portfolio purchasing and servicing arm of credit union-owned Town North Bank. TNB Card Services now owns and manages the card portfolios of more than 125 credit unions, the firm said.
D. Hilton Associates is sponsoring its third annual Supplemental Executive Retirement Plan survey for the credit union industry.
SilverCloud Software says it has signed four new users of its knowledge-management system.
TraceSecurity Inc. has been signed to a four-year deal to provide HawaiiUSA FCU with a variety of training, assessment and testing solutions.
In more fallout from the Centrix bankruptcy, Mission Federal Credit Union here announced a settlement over its purchase of Centrix loans bought as participations.
Two powerful nationwide consumer groups, the Consumer Federation of America and Consumers Union, have urged that overdraft loan programs be limited to depositors who wish to use them and not applied to all accounts.
During an address at the Big Ten Credit Union Conference held at the University of Notre Dame, NCUA Vice Chairman Rodney Hood announced his "Blueprint for 2020" Initiative to bolster the bonds between colleges and credit unions.
MEMBERS Development Company has named Jeff Kline its CEO.
With their constituents complaints about credit card practices ringing in their ears lawmakers on the House Financial Services Committee from both sides of the aisle signaled their displeasure with many current credit card management practices and a willingness to regulate them further.
Bankruptcy professionals seem to be getting their arms around the new bankruptcy law requirements as bankruptcy filings increase among credit unions.
A study from Experian, one of the three big credit reporting bureaus, has found that the credit scores of people with perfect car payment histories can be as much as 100 points higher than those who have even one late payment.
Marking its first major partnership since withdrawing a controversial merger proposal, Wings Financial Federal Credit Union announced on June 13 that it has secured an agreement with JetBlue Airways to offer products and services to the more than 11,000 crewmembers of the New York-based carrier.
NAFCU Services Corporation and Credit Union Tax Services announced the renewal of their partnership, building on a four-year effort serving the credit union industry.
The Cooperative Communicators Association has presented CUNA President/CEO Dan Mica with the CEO Outstanding Communicator Award.
CUNA and CUNA Strategic Services' 2006 combined financial strength beat out the previous two years, according to CUNA's Annual Report.
Underbanked and lower income consumers and communities want convenience and low prices just like mainstream consumers do, but a recent study found that they also want intangible things like greater trust and a personal connection that credit unions may be better positioned to offer.
Mountain America Credit Union President and CEO Gordon Dames has been inducted into the Utah League of Credit Union's Hall of Fame.
NACUSOMatch, the association's new, online exchange listing, has already signed on 117 CUSOs a little over a month since its launch.
Bank of America is introducing an American Express card that it said will be targeted toward its wealthiest depositors.
Earlier this month, the Senate confirmed Treasury Deputy Assistant Secretary for Financial Institutions David G. Nason to be elevated to the assistant secretary spot.
Community Financial Credit Union President/CEO Cathy Stroud has been reappointed to the Missouri Credit Union Commission.
PSECU recently hosted its 13th annual conference for in-house credit union attorneys.
He's the marathon man of New York credit unions.
The New York Credit Union Foundation raised $10,000 from a testimonial dinner for Vicky Matteson, outgoing chair of the New York Credit Union League, the Foundation has announced. More than 70 credit union executives and supporters attended the dinner, which was held at a restaurant in the Albany area.
NCUA's Outreach Task Force has gained a lot of insight from the credit union community as the town halls continue, NCUA Board Member Gigi Hyland said.
If your credit union is trying to provide services to a Mexican immigrant population, and you haven't yet developed a relationship with your local Mexican Consular's office, you've already missed out on an outstanding opportunity.
While generally supporting the Department of Defense's anti-predatory lending regulation, credit union organizations made numerous recommendations for improvement.
Everywhere it seems credit unions are energized with efforts to keep the American Dream of home ownership alive. Whether it's attempts to help people avoid foreclosure or launching first-mortgage programs, credit unions are trying harder to fill gaps in home lending.
State credit union leagues are starting to suffer sharp pains from so-called "disaffiliations" and the trend has grabbed CUNA's attention.
As part of its effort to reach out to lower income and underserved communities, the $3.9 billion Wescom Credit Union has purchased a noted check cashing firm and says it will continue to operate it as a check cashing CUSO.
As the credit union industry begins to self-consciously turn more toward serving lower income communities, the National Federation of Community Development Credit Unions is urging NCUA to make sure it makes practical changes to help it do so.
The Credit Union Regulatory Improvements Act (H.R. 1537) reached 100 co-sponsors last week as press time was running out.
If Governor Eliot Spitzer signs the legislation, New York will become the first state in the country to have a Community Development Financial Institutions program of its own.
Raddon Financial Group is inviting CEOs and directors of credit unions of $500 million or larger to its CEO/Directors' Forum set for Aug. 1-3 at The Ritz-Carlton, Half Moon Bay on the California coast near San Francisco.
During its recent meeting, the NAFCU Board re-elected three to leadership positions and elevated another.
The $1.3 billion Think Federal Credit Union, Rochester, Minn., has gotten the nod from the Office of Thrift Supervision on its application to change its charter to that of a federal mutual savings bank.
Eighty-two percent of member credit unions of $270 million Central Credit Union Fund voted to approve the merger with $13.5 billion Members United Corporate Federal Credit Union, and they did it in person.
In what might seem a quixotic gesture of optimism, the $1.4 billion HarborOne Credit Union has not turned first to lawyers or to litigation to recover money it said it lost in a recent card security breach. It has sent the retailer that caused the breach a bill--for $590,000.
Visa USA's effort to spread contactless payments even further has continued to gain ground, this time moving into the back seats of New York City taxicabs.
The acquisitive Open Solutions Inc., which returned to a private structure last year, has purchased IA Systems, a well-known lending software provider serving credit unions.
Harland Financial Solutions says it has added the secured online backup and recovery services of EVault Inc. to the core processor's Enterprise Services Center offerings.
Baxter Credit Union is organizing a roundtable for billion dollar credit unions during the Credit Union Information Security Professionals' Summer IT Risk Management Summit.
TraceSecurity Inc.'s compliance, security updating, encryption and social-engineering assessment services will now be offered to the 600 or so credit unions that belong to the Texas Credit Union League.
Document management and Check 21 solutions provider Bluepoint Solutions has a new CEO.
CU Business Capital, LLC and Postilion, a division of S1 Corp., have entered into an agreement to provide Postilion's Business Internet Banking in conjunction with CUBC's complete business services approach.
Aimbridge has changed its name to Aimbridge Lending Solutions.
Integrated Media Management says it now has 20 credit unions using the company's TotaleAtlasWeb online digital signature and document solution.
With the help of Flemington Borough Mayor Bob Hauck, Financial Resources Federal Credit Union cut the ribbon on its new Flemington branch.
After undergoing recent remodeling projects, US Federal Credit Union's Bloomington Branch celebrated its new look with weeklong Grand Re-Opening festivities.
Redwood Credit Union has made a splash with the grand opening of its full service Napa branch on First Street.
Affinity Federal Credit Union has recently celebrated the Saint Peter's University Hospital Branch's first anniversary.
The locals in Maui always say, "Here today, gone to Maui" and it's now true for CUDL's Market Research Analyst Joe James, who left to compete in the King's Trail Triathlon there on June 10 to raise money for the Leukemia & Lymphoma Society's Team in Training.
CU Direct Corporation, which administers the CUDL indirect auto lending program, announced that Joe Greenwald has been appointed its vice president of marketing and communications.
Altura Credit Union Vice President of Marketing Donna Michalka is setting her sights on a Riverside City Council seat.
It is a new day for Credit Union Central Falls.
US Federal Credit Union packed on the pounds for Minnesota FoodShare.
United Heritage Credit Union is showing members it pays to have a checking account.
Cabrillo Credit Union, and its partners, Carlsbad City Credit Union, and Sharp Credit Union were honored with the silver medal in broadcast and video at the 2007 MAC awards.
Hendrick Honda and the Latino Credit Union have teamed up to encourage member savings by offering the chance to win a car.
The Government Accountability Office hosted a daylong forum June 11 to look at the desirability of merging financial services regulators, among other items.
The FDIC has alerted member banks and the Office of the Comptroller of the Currency to fraudulent letters circulating appearing to be from the FDIC and instructed recipients not to respond to them.
In his keynote address at the opening session of the National Federation of Community Development Credit Unions' Serving the Underserved Conference, NCUA Vice Chairman Rodney Hood pointed out that June is National Homeownership Month and encouraged credit unions to increase homeownership among the underserved.
NCUA took over $55 million assets Obelisk Federal Credit Union back in April and has now found a merger partner for it.
With claims of a distortion of the facts, the Small Business Administration has once again criticized The New York Times for a recent article discussing the agency's operation.
The agenda for the Business Lending and Other Business Services Conference is packed with timely topics and industry heavyweights.
If you're looking for the hype man for business lending within the credit union movement, look no further than Kent Moon.
It may be a first for the credit union industry: a business lending CUSO that serves both banks and credit unions.
Several Virginia credit unions were recently profiled on the strides their business lending programs have made with members.
All of the traditional routes to bring business lending to members at Credit Union of New Jersey were considered, but ultimately, all agreed having a "local flavor" became the guidepost.
The House Committee on Small Business was scheduled to hold a hearing June 14 entitled "Strengthening SBA's Micro-lending Initiatives," to review the value of these initiatives to small businesses.
The Small Business Administration is piloting a new loan program to assist veterans and members of the military with starting or expanding small businesses.
Industry experts and credit unions often indicate that a business lending and deposit services program can be a great way for a credit union to better serve members and achieve growth goals.
Compared to the banking industry's commercial loan growth, credit unions' member business loan growth made bigger strides in 2006.
Since November 2004, commercial and industrial loan activity has steadily increased, but there appears to be no connection between small business owners use of loans and their inclination to use other related products and services.
Vendors, like Fuze, who focus a significant portion of their business with credit unions commonly say they are strong supporters of the credit union movement. In most cases what that means is that they believe in the basic tenets of the movement and believe their products and services help credit...
After reading Paul Gentile's Editor's Column in the May 30 issue regarding the National Enquirer comment, I felt compelled to write to you in support of the excellent service you provide to the credit union field. I am completing my first three-year term as director at the Nassau Educators Federal...
I have just read Bill Roger's letter to the editor in the June 6 issue regarding Nationwide Federal Credit Union's conversion and his criticism of Paula Edwards-Noice. It is clear from his letter that Mr. Rogers has never spoken personally with Paula, and is not aware of the unique facts...
Check cashers, payday lenders, pawn shops...the scourge of financial services. What's a credit union to do to compete against these fringe players? Buy one of course. That's exactly what $3.9 billion Wescom Credit Union did recently.
A growing number of small business owners are showing consumers they care about the environment by going green.
With the techno-age upon us, TopLine Federal Credit Union created a new position at its headquarters to handle all e-markets.
In the June 11 Special Report on Auto Lending a story on DealerTrack contained two errors: the company signed up 100 new CUs from Jan. '06- May '07, not Jan. '07- May '07 as written. Also, the reference in support for the 70-80% of financing being indirect is from the...