Founders Federal Credit Union, Chesterfield, S.C., celebrated the opening of its newest facility in Chesterfield County. More than 300 members of the community attended an after hours event where they met staff, visited the office and enjoyed a sports-themed celebration including tailgating foods and a DJ. One lucky guest, Tammy...
Workers' Credit Union, Fitchburg, Mass., contributed $25,000 toward the $3 million capital campaign to improve ARC Community Services' Fitchburg facility located on Main Street. ARC Community Services provides support and residential services for the disabled citizens of North Central Massachusetts. Municipal Credit Union, New York, recently donated three state-of-the-art, specially...
Longmont Chamber of Commerce and St. Vrain Valley School District have named St. Vrain Valley Credit Union, Longmont, Colo., as "Business Partner of the Year 2006." The award is given to a company making outstanding contributions to education in the community. St. Vrain Valley CU is committed to education for...
Credit unions found a spot, so to speak, on the Academy Awards "Red Carpet" TV telecast Feb. 25 when the first "Discover Credit Unions" co-op TV ad appeared during the pre-awards show on the local ABC affiliate.
some 300 credit unions, or almost one a day, were merged out of existence last year.
Credit Union Times' Leadership Awards program concluded at CUNA's GAC with the six winners announced.
Freddie Mac is putting an end to purchasing subprime mortgages that have a high likelihood of excessive payment shock and possible foreclosure.
Despite new pushes by the bankers for the Community Reinvestment Act to cover credit unions given the Democratic control of Congress, legislators said they do not foresee credit unions coming under CRA.
When Hurricane Rita blasted Texas, FivePoint Federal Credit Union in Port Arthur took a hit.
If you think the Federal Reserve should raise interest rates in the next six months to a year, rattle this copy of Credit Union Times you're holding.
Steven Preston, administrator of the Small Business Administration, sought to reassure employees after a second article in recent weeks from the New York Times criticizing the agency's disaster loan assistance program.
Never bet against a credit union.
The Wisconsin Housing and Economic Development Authority will bestow its award for the top credit union lender in the state to $750 million Royal Credit Union.
NCUA Vice Chairman Rodney Hood touted member business lending as one way for credit unions to further serve their communities during an address last week at CUNA's Governmental Affairs Conference.
prevailing in Super Bowl XVII--Washington Redskins Quarterback Joe Theismann told GAC participants, "It doesn't matter how big you are. It matters how badly you want something in life." "The most powerful force in Washington at a given moment is an aroused public," Fox News Anchor Brit Hume told attendees of...
NASCUS President/CEO Mary Martha Fortney has said the data collection process for the state chartered credit unions is taking longer than initially anticipated, but is moving toward the finish line.
The Network of Latino Credit Unions and Professionals is up and running.
The big news this year on the Education Credit Union Council's FoolProof financial literacy program for teenagers is a version aimed at parents.
Members of Eastern Financial Florida Credit Union will have an expanded investment and insurance program thanks to the financial institution's alliance with Independent Financial Marketing Group, Inc.
NASCUS Chairman Linda Jekel, director of credit unions for Washington State, told CUNA's Governmental Affairs Conference that federal and state chartered credit unions must bond together as they face the expected IRS ruling on unrelated business income tax.
The first thing that jumps out at you looking into the office of Gary Kohn, senior policy advisor to NCUA Board Member Gigi Hyland, is that he is definitely a Yankees fan.
Carol Schillios won the Herb Wegner Individual Achievement Award for her work in providing affordable credit, education and health care to some of the poorest people in the world. Here she is presented with a $5,000 check from the National Credit Union Foundation by Mary Cunningham (right) to help her...
SBA Administrator Steven Preston applauded credit unions for the good work they do and said they are important to the rebuilding of New Orleans businesses and others impacted by Hurricanes Katrina and Rita.
TNB Card Services, the card portfolio acquisition and marketing arm of credit union-owned Town North Bank, has picked up another large portfolio.
The National Federation of Community Development Credit Unions and the National Credit Union Foundation are joining forces in an effort that they hope will further unify the credit union industry in its work with lower income communities.
The same problems of divided jurisdiction and a divided overall card industry continue to bedevil efforts to draft federal legislation to confront the ongoing problem of card data security, while credit union frustration with the problem has continued to rise.
Republican and Democrat, wife and husband, political pundits Mary Matalin and James Carville are a dynamic--and sometimes dueling--duo in Washington. The two focused a lot on the 2008 presidential race, each predicting it to be a historical one. The front-runners for the two main political parties already include two minorities...
Senator Joe Lieberman (I-Conn.) acknowledged the Credit Union Legislative Action Council of CUNA for supporting his "most unusual campaign" for re-election last year though he was unaware CULAC was helping out at the time.
A kindergarten preparatory program has become a beneficiary of the CUNA Mutual Group Foundation's new company-wide commitment to help area children. The Children's Service Society of Wisconsin has received a $218,000 contribution from the foundation to help start up two local "KinderReady" programs designed to provide the necessary skills to...
When NCUA Board Member Gigi Hyland went to her father for advice on how to handle being called a "cheerleader" for credit unions, he special ordered her a personalized megaphone. He also gave her this advice, she told credit unions participating in CUNA's Governmental Affairs Conference: "Gigi, make an impact....
The Securities and Exchange Commission said starting the week of Feb. 19 it had begun "sharply" cutting fees charged to public companies and other issuers for securities transactions and registrations.
As members concerned about privacy and identity theft shy away from using your credit union's Internet connections, their worries may actually create a marketing opportunity.
Posing with CUNA's new Little Guy was a popular activity at GAC. Here NCUA Vice Chairman Rodney Hood and CUNA President Dan Mica take a turn (left), as does outgoing CUNA Chairman Juri Valdov.
Consumer protections are more and more on the minds of lawmakers in Washington, including pressing issues like data security and credit card issues.
In the latest effort to aid low-income tax filers in avoiding predatory "refund anticipation loans" or RALS, the Wisconsin Credit Union League launched last week a public service radio campaign linked to a consumer Web site.
NCUA issued a Letter to Credit Unions last week reminding credit unions that Daylight Saving Time is three weeks earlier than before.
Assets under management in separately managed accounts have grown $32 billion, or 4.1%, to reach $805.8 billion in the third quarter of 2006, the most current data as reported by the Money Management Institute.
Since 2000, agency securities have led the pack in terms of the most favored investments among credit unions.
If you always do what you've always done you'll always get what you always got.
Special Report: Investments/Trusts Find out how Iowa and Illinois CUs are building up their trust programs and about other investments/trusts news in the special report on pages 20-25. On-Site at ECUC Educator credit unions covered it all at the Educational Credit Union Council's Annual Conference. Pages 18-19.
An analysis of NCUA's year-end data from Asset Exchange, a leading broker of credit union card portfolios, indicates that fewer credit unions reported the sales of their credit card portfolios to NCUA in 2006 than in 2005 and the value of the outstanding balances of the portfolios also decreased.
In his new role as CUNA's chairman, Oakland County Credit Union (Mich.) President/CEO Allan Kemp McMorris stressed the need for outreach to the younger generations to cultivate new credit union members.
The controversy over Bank of America's offering undocumented migrants Visa cards has spilled into the pages of one of the nation's major papers.
CUNA Mutual Group unveiled a new 401(k) product during CUNA's Governmental Affairs Conference.
Martin Sheen got mixed reviews from attendees of CUNA's 2007 Government Affairs Conference. He discussed items ranging from philosophy to his Catholic Workers Foundation work, to which he contributed his $40,000 speaker's fee, to his anti-war views. Here is Sheen with CUNA's new Little Guy character and with NCUA Chairman...
The NCUA Board has announced that Deputy Executive Director Jane Walters will take the reins as the new Capital Region II Director, succeeding Edward Dupcak, who retired at the end of 2006.
Over the last 18 months, the Alabama Credit Union League had built up a respectable clientele for its professional employer organization services through its CUSO, Credit Union Business Services, LLC.
Actual rate decisions can't be reduced to a formula, CUNA Senior Economist Steven Rick pointed out at a session during the Education Credit Union annual conference.
Wealth management firms that want to compete in the mass affluent and high-net-worth markets will have to consider integrating their front-office environment, according to a new report from Aite Group.
Credit unions' political might is certainly not in their purses, but in their numbers, congressional friends of credit unions reminded them as participants in CUNA's Governmental Affairs Conference prepared to saturate Capitol Hill.
NCUA staff were on hand to discuss many of the hot button regulatory issues of the day at CUNA's Governmental Affairs Conference.
Bankers are still worried about credit union competition, but that's not their biggest threat.
The Texas "Capitol Inside" political Web site www.capitolinside.com announced the top lobbyists and groups in the state--and once again, the Texas Credit Union League made the list.
NCUA is preparing a proposal that would move all of the bylaws of federal credit unions into the agency's body of regulations as way of providing it the ability to intervene in bylaw disputes, NCUA Board Chairman JoAnn Johnson told attendees at CUNA's 2007 Government Affairs Conference.
Among all the credit union friendlies working on Capitol Hill, just two walked on the stage to standing ovations at CUNA's Governmental Affairs Conference last week: co-authors of the Credit Union Regulatory Improvements Act, Paul Kanjorski (D-Pa.) and Ed Royce (R-Calif.).
After a year and a half of a sometimes "frustrating" search, on Feb. 23, Tom Davis accepted the position as the new president/CEO of the National Association of Credit Union Service Organizations.
Wayne Hudson, president/CEO of McGraw-Hill Employees Federal Credit Union, announced Feb. 26 that he would retire June 1. Hudson has guided the operations of the $180 million CU since September 1994. Until his retirement, Hudson will continue as president/CEO, assisting in the search for a successor and ensuring an orderly...
With tongue in cheek, NAFCU President/CEO Fred Becker sent a letter to the heads of the national banking trade associations congratulating their banker members on record profits in 2006. Becker noted the FDIC's recent report that banks experienced record earnings at $145.7 billion for fiscal year 2006, the sixth consecutive...
For its long history of helping small business owners, Community First Credit Union recently earned the Preferred Lender Status from the Small Business Administration.
Ascend Federal Credit Union is hoping to be the credit union that its members turn to for Health Savings Accounts.
Vermont State Employees Credit Union is hoping a new name will not only attract younger members, but quell confusion on who is really eligible to join. The $349 million CU has set its sights on changing its name to Veristate Credit Union. Members will vote on the new name March...
NCUA Chairman JoAnn Johnson has received an invitation from Congress to share her views on providing financial services to disadvantaged and underserved communities.
A senior executive reported to a colleague that an employee who had transferred to her department had displayed the credit union movement's motto of "People Helping People," going above and beyond the member's expectation when handling a mistake in his checkbook. The member felt that the stellar service he received,...
I truly believe that the soul of the credit union movement, which is its philosophy, is still alive and well, but over the past several years it has suffered from serious and identifiable erosion. I want to share some of the things I learned during my career that helped me...
As always CUNA's GAC is the premier conference to catch up with everyone. The quaint confines of the Washington Hilton & Towers guarantee you will run into a cadre of friends and colleagues. I will miss the old hotel, but am keeping an open mind about the convention center.
Credit Union Service Network, Arvada, Colo., has promoted Rosemary G. Paddock to vice president of operations. TNB Card Services, Dallas, has added Mitch Dawes as vice president, account executive. c. myers, the Phoenix-based ALM, Risk Quantification and Budgeting Services provider, has promoted Rob Johnson to executive vice president/principal; Brandy Althaus...
Glen Hadley retired from volunteer service at America First Credit Union in Ogden, Utah. Point West Credit Union, Portland, Ore., has appointed Ahjamu Umi to vice president chief lending officer. Financial 21 Community Credit Union, San Diego, has promoted Jeanine Dodman to senior vice president, chief lending officer.
EECU, Fort Worth, Texas, has appointed Connie Talmadge to chief marketing officer.
Peggy Post, wife of CUNA Mutual CEO Jeff Post, lost her long battle with cancer and passed away on Feb. 26.