Sierra Central Credit Union's Chico Branch, Chico, Calif., celebrated its Sierra Cup win with an awards dinner at Johnnie's Restaurant in the Hotel Diamond. The Sierra Cup Trophy represents the highest team achievement possible in Sierra Central's Retail Bank Branch network each quarter by recognizing the best overall performance for...
America's Community Bankers fired back after CUNA reported on its memorandum filed in a federal district court in New Jersey aiding Spencer Savings Bank in fending off a hostile takeover to force the mutual to go public.
Credit unions in Oregon are following the progress of a number of financial services related bills progressing through the state legislature sponsored by the Oregon Division of Finance and Corporate Securities.
There were plenty of "tears and applause" at the May 16 annual meeting of the $200 million Prime Financial Credit Union in an extraordinary celebration of the CU "family."
Associated Credit Union is calling out bankers on their greedy ways with an aggressive multi-media campaign. The credit union has turned to local advertising agency The Burmeister Group to create commercials featuring "the piggy banks". Literally, two talking pigs in suits help tell the story of how banks are more...
New WesCorp Board Member Adam Denbo says he'll bring small credit union representation to the corporate, which previously only had board members from large institutions.
The $1. 8 billion MacDill Federal Credit Union, Tampa, Fla., has joined the CO-OP Network, the surcharge-free ATM network operated by CO-OP Financial Services.
A court has ruled that AIG must pay PSCU Financial Services $2.4 million in identity theft claims after the insurer initially denied payment.
During last week's meeting, the Federal Reserve Board issued a proposal intended to improve the disclosures provided to consumers with credit cards and other revolving credit plans.
Last week, the House passed the Federal Housing Finance Reform Act of 2007 (H.R. 1427)--better known as the GSE bill--by a vote of 313-104.
NAFCU is reporting record attendance at many of its conferences, including its upcoming Annual Conference in Honolulu.
Democrat Felipe Fuentes won a special election to the California State assembly following a five-way race. Fuentes, a former Los Angeles deputy mayor and City Council aide, will represent the northeast San Fernando Valley. The election was held to replace Richard Alarcon, who left the assembly in March to return...
Maine Gov. John Baldacci joined by two of the state's leading Congressmen heaped praise on Maine credit unions this month for their community service role during the 69th annual convention of the Maine Credit Union League here.
Something had to be done about the subprime real estate market and last week, trade associations and Congress reacted.
House Financial Services Committee Chairman Barney Frank (D-Mass.) is seeking to exempt licensed online gambling operators after the activity was banned in legislation last year.
A spotlight shone on credit unions' success with international remittance services on May 17 when a CUNA executive explained to a subcommittee of the House Financial Services Committee how providing the services benefits the immigrants, their families in their home countries and the credit unions themselves.
Co-sponsors continue to pile on to the Credit Union Regulatory Improvements Act (H.R. 1537) as lobbyists say a hearing is expected.
In an address before the 2007 Michigan Credit Union League Annual Convention and Exposition, NCUA Vice Chairman Rodney Hood stressed the importance of meetings like this one to keep credit union leaders at the top of their game. In general, nearly every industry today has many of the same challenges...
Harland Financial Solutions' new Deposit Benchmarking Database was used by Aite Group to assess the deposit performance of a number of credit unions, thrifts and banks ranging in size from $100 million to $50 billion. Among the think firm's findings was the considerable impact of small businesses on deposit growth....
NAFCU commended NCUA for looking through its field of membership chartering policy, particularly as it pertains to "local community."
The Community Development Financial Institutions Fund has announced that it will hold a meeting of its Community Development Advisory Board June 7 in New Orleans.
Journal Credit Union, based in Milwaukee, announced last week that it would be merging with Summit Credit Union in Madison.
As part of its annual charity golf tournament, PSCU Financial Services, the nation's largest CUSO, raised more than $11,000 for Phoenix Children's Hospital. The tournament is held in conjunction with PSCU's annual Member Forum, which was held during late April in Williamsburg, Va.
Florida Credit Union League Senior Vice President of Administration Cassandra J. Grayson has recently been appointed to the Financial Literacy Council by Florida Chief Financial Officer Alex Sink.
Desert Schools Federal Credit Union's wholly-owned subsidiary Desert Schools Financial Services is hoping to give engaged couples a little peace of mind.
The Small Business Administration will roll out its new lending rating system June 15.
HSA Clearing is doing its part to ensure credit unions capture their share of the health savings account market. HSA Clearing and brokersXpress, an online trading and reporting provider for independent investment professionals, have recently teamed up to launch HSAs Financial -- a turnkey HSA brokerage solution for credit unions.
Sunmark Federal Credit Union has recently acquired Colonie-based Hallmark Services, Inc., an independent insurance agency.
With the pristine Sitka Sound as the backdrop, the Alaska Credit Union League held its annual meeting here May 3-5. Approximately 100 attendees, which included guests from financial companies and business partners in the Lower 48, enjoyed a beautiful ocean cruise on Sitka Sound, were treated to a live performance...
Following arguments over bylaws between members and management of credit unions considering mutual savings bank conversions, NCUA's policy of relying on the state court system to clear things up proved to be less than desirable. As a result, NCUA is seeking to re-incorporate the Federal Credit Union Bylaws into its...
The NCUA Board issued a final rule at its recent board meeting making technical corrections to a number of its regulations.
This has been a rough spring so far for the New Jersey Credit Union League, rocked by last month's firing of its president/CEO Robert Walls, the resignation of two of its directors, and some internal bickering over the organization's mission and servicing methods.
It was yet another successful sail for Honda Federal Credit Union CEO Jim Updike and his credit union crew.
NCUA staff has put together a proposal, approved for comment by the board at last week's meeting, to clarify the agency's expectations for a community charter application following the board's denial of an appeal for the same community charter for two credit unions in March.
Another Massachusetts Credit Union is considering calling it quits as a credit union and perhaps opening its doors as a mutual bank.
The battle over whether and how credit unions should convert to mutual bank charters appeared to get a little bit hotter on May 16 when the Securities and Exchange Commission revealed its investigation of a scheme to defraud mutual bank depositors, including the former members of eight converted credit unions.
Credit union savings was up more than 4% in the first quarter while loan growth was virtually flat in a strong show of the current economic conditions.
The Independent Community Bankers of America lauded Senators Sam Brownback (R-Kan.), Pat Roberts (R-Kan.) and Tom Coburn (R-Okla.) as "champions of small business" for introducing the Communities First Act
The House of Representatives overwhelmingly passed the Industrial Bank Holding Company Act of 2007 (H.R. 698) by a vote of 371 to 16.
Federally insured credit unions had to have their insurance signage at locations where "it normally receives funds or opens accounts" updated as of May 22.
Comment letters that came into NCUA on its records preservation proposed regulation generally supported the rule change, but said some allowances should be made for smaller credit unions.
The National Credit Union Foundation will hold a special "Thought Leader" session entitled Untapped: Creating Value in Underserved Markets during CUNA's America's Credit Union Conference and Expo.
Credit Union Times prides itself on being where credit union leaders are. In this issue you will find on-site coverage of the Georgia CU Affiliates Annual Meeting (pages 32,34), the Pennsylvania CU Association Annual Meeting (page 20) and WesCorp's Future Forum (page 18).
Oral arguments on a credit union field of membership suit brought by the Kentucky Bankers Association challenging community-based expansion will begin July 12, according to an order issued by a Franklin County Circuit judge.
Financial Crimes Enforcement Network Director James. H. Freis Jr. expressed his commitment to effective and efficient Bank Secrecy Act administration during a meeting of the BSA Advisory Group hosted by FinCEN.
NCUA Vice Chairman Rodney Hood spoke at the Hispanic Alliance for Progress Institute's recent conference on the state of consumer finance and solutions to predatory lending.
The Federal Reserve Board has announced that the next meeting of the Consumer Advisory Council is scheduled to take place June 21.
NCUA Chairman JoAnn Johnson applauded the commitment already demonstrated by Pacoima Development Federal Credit Union at its recent grand opening. PDFCU is located in the Northeast San Fernando Valley of California and consists of a significant percentage of underserved communities.
As hurricane season looms, NCUA Chairman JoAnn Johnson reminded credit unions to help prepare their members during National Hurricane Preparedness Week May 20-26.
Authentication technology first used in World War II is now being deployed by First Tech Credit Union at the leading edge of its Internet banking site.
If big banks are the bellwethers in the online channel, credit unions that haven't yet can expect to be looking at account-opening authentication tools and perhaps tightening down on the old-fashioned phone lines, too.
Backing up Outlook and the intranet is getting the same level of attention these days as protecting the records of daily transactions at Lansing Automakers Federal Credit Union.
AFTRA-SAG FCU says member usage of its online banking site has increased by several thousand sessions a day since the site got a new look and expanded functionality last month.
CheckFree Corp. has completed its $245 million acquisition of Corillian, giving the combined organization an end-user base of more than 40 million online bankers and 250,000 small businesses.
Del-One, in conjunction with Document Security Inc. and Clear Channel Radio, sponsored its second annual Operation Delaware Shred campaign throughout the month of April.
Kitsap Community Federal Credit Union says a new software solution will allow it to save $120,000 a year in staff time previously spent gathering audit information.
After a short stint in Detroit, former Fiserv credit union executive Larry Tankeloff is back in Philadelphia.
Campus Federal Credit Union is now servicing its growing commercial lending portfolio with the Commercial Servicer software system from Dallas-based Financial Industry Computer Services (FICS).
More than 100 attendees gathered in Palm Desert, Calif. recently for the 2007 Akcelerant Customer Conference, according to the provider of data warehousing, workflow and business process automation solutions.
Southwest Corporate Federal Credit Union plans to offer business capture and ATM capture services for small business members.
Credit union lending has changed dramatically over the past decade. It used to work slowly, involving hours of manual application entry and underwriting--and piles of paperwork--before reaching loan decisions and issuing funds. Loan officers were business partners and financial experts, and their customers were loyal for life.
The United States continues to be the heavyweight in global IT spending by financial services institutions. The trend is expected to continue, as TowerGroup anticipates that the estimated $122.9 billion of 2006 IT spending among FSIs in the United States will grow 4.8% annually, reaching $141.3 billion by 2009. Meanwhile,...
Server operating systems are at the heart of the IT infrastructure so changes and upgrades are not taken lightly or frequently, according to Forrester Research. The tables shown here are taken from surveys of 147 decision makers at organizations across North America and Europe. Uptime is far more important to...
Credit unions keeping their call centers in-house aren't alone. A Forrester Research survey of 250 contact-center decision makers across North America and Europe found that the number of in-house centers were growing faster than outsourced operations, and that the adoption of IP technology over legacy systems continues.
I just wanted to take a second to respond to Paul Gentile's column in the May 9 issue. Gentile absolutely hit the nail on the head. We are a large single sponsor credit union that has succeeded primarily because we have focused on our core membership base. I believe that...
It's no wonder that credit unions have found success offering a wide variety of loans to their members--after all, lending continues to be the foundation of our industry's product offerings. But in today's challenging environment, financial institutions are seeing a lackluster loan demand, as a result of a slower economy...
Last week while I was on site at the Pennsylvania Credit Union Association Annual Meeting a member of our reporting staff informed me that Mark...
The Pennsylvania Credit Union Association's 73rd Annual Meeting opened with some fun and some inspiration.
Surprise dignitary guest Sen. Robert Casey (D-Pa.) was presented with PCUA's prestigious Keystone Award. Casey was instrumental, while serving as the treasurer of Pennsylvania, in helping make PCUA's Better Choice payday lending alternative program a reality. Better Choice was launched last October and currently is being offered by 53 Pennsylvania...
Though no bill has been introduced yet, the Pennsylvania Credit Union Association has put its members on alert that State Representative Doug Reichley (R-Lehigh) is trolling for co-sponsors to an anti-credit union measure.
Speaking at the Pennsylvania Credit Union Association's 73rd Annual Meeting, NASCUS President Mary Martha Fortney said that a plaintiff credit union to sue the IRS over its rulings on Unrelated Business Income Tax has been identified.
Behavioral finance, which uses psychological theories to explain market anomalies, may explain 2004's real estate boom, said Yale University professor Robert Shiller.
Last year nearly mirrored 2005's data when it came to the number of members and credit unions in Georgia, but the peach state is poised to take advantage of a number of areas that could open up more growth opportunities.
Being "obsessed with members" is something Diana Dykstra is proud to admit.
NCUA Region III Director Alonzo Swann told attendees at Georgia Credit Union Affiliates' annual convention that the litany of exotic mortgages and subprime lending has not been a huge deal for Georgia, but elsewhere in the region, particularly in Florida, it has become an issue.
When they walk through a credit union's doors for the first time, how do potential members really feel--welcomed, disengaged, uninformed and unsatisfied?
Georgia has had the unwelcome distinction of being ranked No. 1 in the country when it comes to mortgage fraud for the past few years.
Some hard questions need to be asked before credit unions can set out on a path to grow membership such as remembering why they even exist.
With the number of issues credit unions continue to face these days, winning against the odds is obtainable. That's the message shared by Walter Bond, a former Dallas Maverick, Utah Jazz and Detroit Pistons player in the National Basketball Association. Now a motivational speaker, Bond brought his Southside Chicago brand...
In today's highly competitive market, successful organizations develop a value system first, then invent strategies to help them deliver upon those values.
Capital Communications Federal Credit Union, Albany, N.Y., has appointed Richard Bazar as commercial relationship specialist; Diane Bennett as credit risk associate; Michele Chavers as financial analyst; Mike Peteani as human resource specialist; and Barbara Rustin as training specialist.