Credit Union Times Magazine March-21, 2007
In Other News
-
BRANCHING OUT
Suncoast Schools Federal Credit Union, Tampa, Fla., recently announced the opening of its East Tampa Community Branch. The new branch is specifically targeted to better serve those of modest means in the underserved East Tampa area. The 5,112 square-foot branch includes three drive-thru teller lanes and one walk-up ATM featuring...
-
DONATIONS
United Teletech Financial Federal Credit Union, Tinton Falls, N.J., had employees, family and members participate in Clean Ocean Action's Annual Fall Beach Sweep at Sandy Hook. A total of 325 volunteers picked up over 10,000 pieces of litter from the beaches. Volunteers also completed datacards, which were reviewed and entered...
-
AWARDS
Cabrillo Credit Union, San Diego, and its partners, Sharp Credit Union and Carlsbad Credit Union, held their 9th Annual Member Appreciation Luncheon recently to honor credit union member for their service and dedication to the credit union. Cabrillo CU honored United States Border Patrol Agents Leo Ayala and Imelda Esquivel...
News
-
Online Account Opening Maturing with Plenty of Growth to Go
Online account opening is a maturing technology, but there's plenty of room for growth, experts say.
-
FSCC Bolsters Network Security Through GlobalCerts and Websense
The Financial Service Centers Cooperative has partnered with two technology vendors to provide increased network security.
-
CUNA to GAO: CTR Exemptions Not Worth it
CUNA met with the Government Accountability Office recently to explain credit unions' particular problems with Currency Transaction Reports as the agency produces a study on it for Congress.
-
On the Inside
NCUA Meets NCUA's March board meeting featured a few community charter appeals. See page 10. Special Report: Data Processing & Technology
-
ABA Name Being Used in Identity Theft Scam
The American Bankers Association announced last week that con artists have been fraudulently using their name as part of an identity theft scam.
-
Washington Post Features Mica Boys
CUNA President/CEO and former Congressman Dan Mica (D-Fla.) and Congressman John Mica (R-Fla.)--swapped stories with the Washington Post recently for a feature article.
-
Fees on Debit Cards Fade Into Past, Survey Finds
A survey from Bankrate.com, an Internet site that tracks card trends and their impacts on consumers, has found almost none of the card issuers surveyed still charge the cardholders a fee for using their debit cards, no matter whether they sign to validate transactions or use a personal identification number.
-
Texas League Signs ConSentry to Address Security Needs
The Texas Credit Union League was looking for a platform that provides simple authentication, a flexible security system, and a cost-effective solution and has now instituted the ConSentry Networks' LANShield Controller and InSight Command Center to enable identity-based access control across the LAN.
-
Alaska USA Insurance Brokers Sponsors Iditarod
Alaska USA Federal Credit Union's wholly owned subsidiary Alaska USA Insurance Brokers is sponsoring "The Last Great Race on Earth"--the Iditarod Trail Sled Dog Race. "There are many complexities when it comes to organizing an event as large as the Iditarod," said Alaska USA Insurance Brokers President Randy Pugh. "Behind-the-scenes...
-
Texans Shred Day a Hit
Texans Credit Union recently teamed up with document shredding firm Recall to help members do some cleaning just in time for tax season.
-
American Heritage Goes the Extra Mile on High-Tech Inner City Branch
Talk about faith in numbers and the local community, Bruce Foulke, president/CEO of American Heritage Federal Credit Union, is a true believer.
-
Fraud Undermines Security for All
Visa titled its March 8 summit Maintaining Trust in Payments and the card brand used the event to stress that the problem of card fraud has the potential to so undermine consumer's trust in cards that they stop using them.
-
New Figures Show a Possible Up Tick in Auto Lending; CUs Outdoing Other Lenders
Economists in general have forecast a slowdown in consumer lending in 2007, but new figures give hope for vehicle lending, NAFCU Chief Economist Tun Wai said.
-
Merger Proposal Stirs Memories of Northwest Airlines' Name, Trademark Suit Against Wings Financial
This April will mark the four-year anniversary of a series of events that led to Northwest Airlines filing a lawsuit against Wings Financial Federal Credit Union for claims of logo and name infringement.
-
Mazuma Sponsored Radiothon Raises Over $500,000 for CMN
Mazuma Credit Union has recently sponsored the seventh annual Mix for Kids Radiothon and helped raise much-needed funds to benefit the Children's Miracle Network.
-
New Name on Horizon for Ohio Balloon Challenge
Thanks to MidFirst Credit Union the Ohio Balloon Challenge will now be called the MidFirst Ohio Challenge.
-
Could Another Card Brand Come on the Scene?
According to a report in Business Week on March 13 another card brand, one that is aimed at helping subprime consumers and tapping into retailers' anger over interchange, is in the offing.
-
Focusing on Small Business
As part of its card security effort, Visa is targeting an unfamiliar concept: "common sense."
-
Edentify CEO Says More Vigorous Vetting Needed to Fight Synthetic ID Fraud
According to Edentify CEO Terrence DeFranco, reports that identity theft is on the decline should be taken with a grain of salt. "Most surveys are only related to one category, that which the victim knows about," said DeFranco. "The reality is usually the victim is the last to find out...
-
Go Direct a Proactive Step Against Financial Crime
A recent U.S. Department of the Treasury Financial Management Survey finds that although identity theft continues to top consumers' list of concerns, many still leave themselves open to it by using paper checks rather than direct deposit.
-
Fiserv Strengthens Fraud Suite with Acquisition
Fiserv has acquired NetEconomy, a global provider of anti-money laundering, fraud prevention and compliance solutions to financials.
-
Asking Members What They Want, Not Racing to Beat Competition, Key to Arkansas FCU's Membership Growth
When a member has informed Arkansas Federal Credit Union that it will be moving his or her accounts, the financial institution does all it can to find out why.
-
Business Partners, Wescorp Gear Up for Business Services Symposium
A panel discussion featuring representatives from CUSOs across the country will be one of the agenda items on this year's Business Services Symposium sponsored by Business Partners, LLC and Wescorp.
-
Virginia CUL to Host Financial Literacy Boot Camp
The Virginia Credit Union League will hold its third annual Financial Literacy Boot Camp on April 25 at Northwest Federal Credit Union.
-
North Jersey FCU Offers Home Banking Seminars
North Jersey Federal Credit Union is helping area consumers get comfortable with online convenience.
-
Altura CU Celebrates New Building Bringing Four CUSOs Together
All of Altura Credit Union's four CUSOs are now housed in one building.
-
CenCorp, Ceto Align on Cash Management
Central Corporate Credit Union and Ceto and Associates have partnered to offer a vault cash management tool to credit unions.
-
Travis CU Helps Ring in 'Year of the Pig'
Travis Credit Union has recently sponsored the 11th Annual Chinese-American Association of Solano County's New Year Celebration.
-
Debit Card Reward Programs More Widespread, but Still Less Robust Than Credit Programs
A survey of debit card issuing and use has found that rewards programs on debit cards, once a rarity, have become more widespread, but that they remain less robust than rewards programs on credit cards.
-
SBA Documentation, Fees Prohibitive CU Witness Tells Federal Lawmakers
Debate continues between the Republican Administration and the Democratic Congress, guarantor and lenders over SBA's zero-subsidy program that passes fees along to borrowers.
-
Amidst Payday Scrap, South Carolina League Surveys CUs
With South Carolina becoming the new battleground for payday lending, the South Carolina Credit Union League said last week it has conducted an update of its member CUs on alternative products and found a large number already offering them or making plans to do so.
-
6.10% APY for a Checking Account? It's Profitable, Clearstar's Van Duzer Says
The story of this jaw-dropping rate starts innocently enough. Ritch Van Duzer, president/CEO of $163 million Clearstar Financial Credit Union, needed to bring in more core deposits in 2007, particularly in checking.
-
Enterprise Volunteers Set Record at CMN Radiothon
Enterprise Car Sales helped the Children's Miracle Network of St. Louis raise nearly $400,000 during CMN's recent Radiothon event, sponsored by St. Louis radio station KEZK 102.5.
-
Congressman Michael Oxley to Speak at Enterprise Wide Risk Conference
Corporate One Federal Credit Union has added former U.S. Congressman Michael Oxley to its speaker line-up for the Enterprise Wide Risk Management Conference.
-
More Banks than CUs Allow Debit Card Overdrafts
Consumer protection groups are challenging the practice of allowing debit cardholders to use their cards to overdraw their checking accounts and the study found that, overall, this practice has increased.
-
Bob Newcomb Named New CEO of SELCO Community CU
SELCO Community Credit Union has named Bob Newcomb its new president/CEO effective Feb. 15.
-
Louisiana CU Moves Card Processing to TNB
The $85 million LA DOTD Federal Credit Union, headquartered in Baton Rouge, has moved the processing of its 4,000 credit cards and 5,400 debit cards to TNB Card Services, the card processing arm of Town North Bank reported.
-
ICBA 2007 Priorities Include 'Competitive Equity' with Credit Unions
Fighting expanded powers for credit unions and NCUA's efforts on disclosures during mutual savings bank conversions are top priorities for the Independent Community Bankers of America in 2007, the group announced during its recent National Convention and Techworld.
-
CBC Unveils Project Freestar
Full service experiential branding agency Creative Brand Communications, Inc. is looking for the credit union industry's most forward thinking organizations.
-
WOCCU Working with Afghans to Set Up CUs in War Zones
The World Council of Credit Unions is working with the U.S. Agency for International Development and local Afghans to establish credit unions in that country, even though some of the new CUs are in war zones.
-
Digital Defense's Fleming Arrested on Child Porn Charges
An executive with a popular credit union IT security firm was arrested March 8 on child pornography charges. Richard Fleming, executive vice president of security and risk management consulting, was charged with two counts of possession of child pornography and one count of receiving it. Fleming, 43, joined Digital Defense...
-
Langley FCU Helps Families, Troops Connect
Langley Federal Credit Union has helped area military families send messages of support and encouragement to deployed loved ones via Webcasts.
-
Expanding the Picture
While cooperation in fighting fraud among all the parties that benefit from the use of cards came up repeatedly at the summit as both a need and a goal, the summit also inadvertently highlighted how far short of that goal the card industry remains.
-
Cyprus CU Says Web-Based Feedback System Builds Employee 'Allegiance'
The concerns aired by employees through the new feedback system at Cyprus Credit Union weren't particularly a surprise, but the compliments were.
-
NCUA Board to Reopen FOM Manual, NCUSIF Declares $52 Million Dividend
The NCUA Board voted 2-1 March 15 to reject two credit unions' community charter applications, prompting the board members to say they will be looking into clarifying the Field of Membership and Chartering Manual.
-
River City FCU, TRC Interactive Team Up For Online Training
River City Federal Credit Union has tapped interactive financial institution training provider TRC Interactive, Inc. to help meet its training needs.
-
CU*Answers, Prime Alliance Support Web-Based Mortgage Services
Web-based mortgage services are getting a boost thanks to a partnership between CU*Answers and Prime Alliance.
-
Before You Reissue, Find Out What Sort of Fraud You Have
Credit unions and other financial institutions cannot and should not treat all data security breaches as the same or as having the same risk, according to Bruce Hansen, CEO of ID Analytics, a data security firm.
-
SECU Gives Artists Their Space
The next Picasso may just be found at a State Employees Credit Union branch.
-
Intuit to Launch Two New Online Banking Systems
Just five weeks after the deal, Intuit says the benefits to financial institutions from its acquisition of Digital Insight are starting to come to life.
-
Those CUs Don't Do the Ohio 'Walk' but Boy, It's More than Talk
Credit union folk may not be all that crazy about the "walk" but they are doing more than "talk" when it comes to fundraising for that Columbus-to-Cincinnati walkathon for Children's Miracle Network next week.
-
Lending Tools: Lafayette Schools' FCU Lending Chief Likes High-Tech Kept Simple
Lisa Bourque is no techie, so what she likes about her high-tech tools from her credit union's core processor is that "they're simple as possible to use, for people like me!"
-
Hampel Explains Consumer Finance Data in Mainstream Media
CUNA Chief Economist Bill Hampel is becoming the darling of a number of economic reporters in the mainstream, which is helping to thrust credit unions into the public eye.
Breaking News
-
CURIA Introduced in 110th Congress
Congressmen Paul Kanjorski (D-Pa.) and Ed Royce (R-Calif.) introduced the Credit Union Regulatory Improvements Act at deadline last week.
Front Page News
-
Missouri CUs Pursuing 'Geographic Area' Definition
Field of membership has been a bone of contention between banks and credit unions across the country for ages, but the rivals in Missouri are working through it. "This entire bill has been six months of negotiations. So far, so good," MCUA Spokesperson Amy McLard said. "You always hope for...
-
Visa Emphasizes Responsibility, Partnership to Fight Fraud
In the wake of a wave of card security breaches that have cost many issuers tens of millions of dollars, two messages came through loudly at Visa USA's Maintaining Trust in Payments conference on card security, which the card brand hosted free to most participants in Washington, D.C. on Mar....
-
Wings Financial FCU Sets Possible Precedent with First-Ever Hostile Takeover Attempt; Industry Concern Very High
In a first for the credit union industry, one credit union is attempting a hostile takeover of another credit union. Wings Financial Federal Credit Union is seeking to merge with Continental Federal Credit Union despite the latter's repeated rebuffs. Wings is now in the midst of an aggressive campaign to...
-
Looking at CURIA's Past Success Could Signify Future
The term "CURIA" is practically off-limits for many Washington insiders for fear of jinxing the legislation that credit unions have been pushing for the third Congress now.
News Briefs
-
FTC Approves ASI Acknowledgment of Disclosures
The Federal Trade Commission has approved the acknowledgment of disclosure forms American Share Insurance had suggested for privately insured credit unions.
-
NJCUL and CU National Mortgage Form Marketing Relationship
CU National Mortgage is looking to position itself as a preferred mortgage resource for New Jersey Credit Unions by creating a marketing relationship with the New Jersey Credit Union League Professional Service Group.
-
NCUA May Testify at Subprime and Predatory Lending Hearing
The House Financial Institutions and Consumer Credit Subcommittee has announced a hearing to investigate subprime and predatory lending later this month.
-
NAFCU Sees Short-Term Stability in Unemployment Figures, Expect 3Q Increase
According to NAFCU's Macro Data Flash, credit unions can foresee a stable unemployment rate in the first half with a dip in the third quarter.
-
CUNA Backs Small Business Lending Improvement Bill
A bill that seeks to improve access to capital through the Small Business Administration is being praised by CUNA.
-
Langley FCU Warns Members About TJX Breach
The $1.1 billion Langley Federal Credit Union has sent a warning letter to 13,000 of its more than 150,000 credit and debit cardholders about their account numbers being compromised in the TJX card breach.
-
Reform Introduced Would Create New GSE Regulator
Bipartisan legislation has been introduced that would overhaul the regulatory oversight of the government sponsored enterprises of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
-
Patelco, Bethpage FCU Tap State National for CPI
San Francisco-based Patelco Credit Union and Bethpage, N.Y.-based Bethpage Federal Credit Union have selected State National Companies as their collateral protection insurance provider.
Marketing
-
U.S. First Unveils New Logo, Tagline
As part of its move to a community charter and to ensure that every touchpoint truly embodies its brand, U.S. First Credit Union has revamped its logo and tagline.
-
Travis CU Offers Students Cal Grant DVDs
Travis Credit Union is making high school seniors aware of all their college financing options.
-
Spider-Man Who? Eastern NY FCU Members' Heroes are the Dream Defenders
There's a new superhero team in town and it's the Eastern New York Federal Credit Union's Dream Defenders.
-
CHI Centers Touts Benefits of Mid-Atlantic FCU Membership
Mid-Atlantic Federal Credit Union has tapped CHI Centers as its latest Business Affiliate.
-
US Federal Credit Union Names New Marketing Research Specialist
US Federal Credit Union has recently hired Bob Nelson as the marketing research specialist. In this new position, Nelson will provide support and analysis for the credit unions marketing and promotional initiatives. His knowledge and expertise will provide the credit union with a better understanding of its members and the...
-
'The Big To-Do' Tops Off Golden Mirrors
To help CUES Golden Mirror winners celebrate, Austin-based Concepts Unlimited Ad Agency will host "The Big To-Do," a private after-party.
Special Report
-
Navy Federal Opens Rockville Branch
Navy Federal Credit Union has recently opened the doors to its latest branch in Rockville--marking the first of 31 new branches slated for 2007. A number of Navy Federal members, area branch managers, and Captain Darryl McSwain from the Montgomery County Police participated in the grand opening festivities, which included...
-
Goldenwest CU, Bonneville HS Team Up for Student CU Branch
Thanks to Goldenwest Credit Union, Bonneville High School students and teachers will have their own credit union branch on campus.
-
Rogue FCU Opens Central Point Branch
Rogue Federal Credit Union has opened the doors to its latest branch in Central Point.
-
DEI Adds Staffers
The DEI team keeps growing. The design/build firm has recently welcomed David Cochran and Carolyn Brown.
-
New HQ for Redwood CU
It's a new day for Redwood Credit Union as 155 of its 300 staffers recently moved into their newly remodeled corporate facility here. The 104,000 square-foot facility, which previously served as headquarters for State Farm Insurance and Health Plan of the Redwoods, houses a variety of departments ranging from lending,...
Opinions
-
How to Protect Your Credit Union from Security Breaches and Fraud
Security and Risk Management continue to be the two hottest topics in the financial services industry today--for good reason. Fraud is at an all-time high. Security breaches occur, regardless of the measures and safeguards put in place. The nature of the fraudulent activity is moving from interruption of service to...
Opinion
-
Combating Challenges in the State System: UBIT, Federal Preemption Take Center Stage
Many in the financial services industry have kept a close eye on the federal preemption case Watters v. Wachovia brought before the U.S. Supreme Court in November 2006. It was the first banking preemption case heard by the U.S. Supreme Court in 10 years.
Publisher's Column
-
Wings vs. Continental: The End of Credit Unions or a Rallying Cry?
It can be hard to recognize a watershed event, something that has long-lasting effects and consequences. Hindsight and time usually help, but in the case of Wings FCU vs. Continental FCU there is no question that this is a defining moment for credit unions.
Resource Center
View All »
A Path Chosen Prudently
In today's complicated credit card landscape, choosing the correct path between self-issuance or agent banking...
Winning the War on Cybercrime: The Four Keys to Holistic...
This white paper examines the importance of adapting to changes in fraud attacks without significant...
FFIEC Proposed Guidance on Social Media and How it Affects...
To learn how you and your institution can stay compliant with the new proposed FFIEC...
The Rise of "Mobile Commerce" and How it Affects YOU!
Could plastic cards become a thing of the past? This white paper explains what constitutes...
Key Indicators of High Performing Credit Unions
Get a complimentary demo of our loan portfolio analytics and access to the white paper,...
