Credit Union Times Magazine October-10, 2007
In Other News
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In Other News
In Other News 10/10/07 Issue
News
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Treasury and Fed Propose Joint Internet Gambling Rule
As the credit union trades sit down to digest the new proposed rule, issued by the Treasury Department and Federal Reserve Board last week implementing the Unlawful Internet Gambling Enforcement Act, they already know one thing: it is not all they hoped for.
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Credit Union Execs Learn Marketing to Hispanics in Mexico
Executives and leaders from 14 different credit unions and credit union leagues learned some practical lessons in how to market credit union products and services to Hispanics while traveling to Mexico, according to the World Council of Credit Unions, which sponsored the trip.
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CU Mergers Look to Occupy Volunteer Conference
There are two pressing issues confronting volunteers these days--how to deal with large-scale credit union mergers and the prospect of CUs being acquired by expansion-minded banks.
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Members Go Crazy Over 'Crazy 8' CD Promotion
E53 Federal Credit Union had no idea that its "Crazy 8" certificate of deposit promotion would yield as much activity as it did.
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Lilly Credit Union Embarks on Major CUSO Expansion
The $727 million Eli Lilly Federal Credit Union may represent the most venerable of single sponsor credit unions in the U.S. and this year the Indianapolis CU is on a roll toward enlarging its Indiana profile under the CUSO umbrella.
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Consumer Groups Praise New Military Lending Law
The federal law that will prevent members of the military from being charged more than 36% for most sorts of loans went into effect on Oct. 1 and has earned the praise of three long-term opponents of payday lending.
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The Members Group Rewards Lucky Talent Pool Drawing Winner
An employee from The Members Group will be driving away in a BMW Z4 Roadster for the next year as the grand prize of the Talent Pool Initiative drawing.
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CEO Succession Remains Top Board Issue, Says CUNA Survey
With credit union boards about ready to do strategic planning for next year, CUNA is providing new guidance to CUs on where to turn and what's needed based on findings of a specialized "board assessment" product that has been on the market for just over a year.
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Industry Leaders, Michigan First Offer Insight on Surviving Economic Woes
With a number of auto industry losses and the constant threat of strikes, Michigan is feeling the impact.
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Callahan Ranks LSI Largest in CU Call Center Space
Callahan & Associates has ranked Lending Solutions Inc., a provider of lending center services and consulting programs for financial institutions, as the largest call center provider in terms of market share within the credit union space.
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CU Hawaii FCU Taps Alicuben New President/CEO
Kurt A. Alicuben has been tapped the new president/CEO of CU Hawaii Federal Credit Union.
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Bringing Trust Services To Small Credit Unions Possible
The perception that trust services are earmarked for the ultra wealthy may be shared by some smaller credit unions.
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Members Usually Not as Worried About Credit Union Size with Investment Needs, Delivery More Important
One of the advantages South Metro Federal Credit Union has in its arsenal is it is situated in one of the country's top 15 fastestgrowing counties.
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Struggling Cal State 9 CU Offers Top CD Rate; State Withdraws $20 Million
Cal State 9 Credit Union, now operating under a Cease and Desist order from the Department of Financial Institutions, the contents of which have been kept confidential is trying to dig its way out of what seems a mountain of loans gone bad.
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Flurry of Housing, Mortgage Legislative Action in Wake of Subprime Concerns
Legislative efforts to provide affordable housing, mortgage debt relief, save homes, and prevent foreclosures are stacking up as lawmakers scramble to stem the tide of foreclosures.
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Poitras to Retire as CUAO President End of November
The Credit Union Association of Oregon Board of Directors announced last week that President Gene Poitras will retire as of Nov. 30.
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Hoel, May, SECU Foundation Are the Wegner Award Winners
Robert Hoel, former executive director of the Filene Research Institute, Harriet May, president and CEO of the $1.2 billion GECU (Government Employees Credit Union), headquartered in El Paso, Texas, and the State Employees Credit Union Foundation in North Carolina have been named as the winners of the 20th Annual Herb...
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CUNA Comment Spurs Change in Dept. of Education Reg
CUNA putting its two cents in on a Department of Education rule preserved a service and income stream for federally insured credit unions.
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Four CDCU's Selected for New York Anti-Poverty Effort
Four community development credit unions have been chosen by New York City's Office of Financial Empowerment to work with previously unbanked low-income families and individuals through Opportunity NYC, a new incentivized savings account program. The pilot for the project also includes four banks.
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Winter Operations Forum Shines Spotlight on Serving Hispanic Market
The Winter Operations Forum hosted this year by Corporate One Federal Credit Union is doing its part to help the corporate credit union network explore new ways to reach the growing Hispanic market.
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CUNA Witness Stresses Necessity of SBA Program Funding; NAFCU Writes In Support
Greylock Federal Credit Union Senior Vice President of Business Banking Don Kuczarski told the House Small Business Committee that restoring SBA funding was important to credit unions' business offerings.
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PULSE Starts Fraud Protection on Debit Transactions
The PULSE EFT Association, an affiliate of Discover Financial Services, has rolled out another layer of protection for ATM and debit transactions.
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Johnson to Address N.Y. Unbanked Conference
NCUA Chairman JoAnn Johnson will discuss the unbanked and the crucial role of financial education during the Financial Literacy and Education Commission's Oct. 4 Northeast Regional Conference on Reaching Unbanked People in New York City.
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Three Alabama CUs Choose CUDL
CUDL (www.cudl.com), which administers the nation's largest point-of-sale and indirect auto lending network for credit unions announced that three credit unions in Alabama have chosen its CUDL Complete program for their indirect lending needs.
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Pennsylvania HS Students Play 'Financial Football' for Fin-Lit
The Department of Banking's Office of Financial Education, Visa and the National Football League and Players Inc. have teamed up to help high school students score a touchdown every time when it comes to financial literacy.
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New WesCorp Podcast Series Tells of Small Credit Union Resilience
NPR listeners will like the flavor of a new podcast series produced by WesCorp, which shares the human side of credit unions.
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Wisconsin Bankers, in Rare Move, Offer Reward on CU Crime
Underscoring the close-knit ties among financial institutions in fighting crime, the Wisconsin Bankers Association announced a rare $10,000 reward offer to help solve a Sept. 26 kidnap and robbery at a Milwaukee credit union.
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President Bush Issues Letter in Recognition of ICU Day
As credit unions gear up to celebrate International Credit Union Day on Thursday Oct. 18, President George W. Bush has issued a letter of greetings to mark the occasion.
Front Page News
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CURIA Supporters Reach 130
The Credit Union Regulatory Improvements Act (H.R. 1537) was up to 130 congressional backers last week.
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McCartney's Long, Successful Ride Ends at Orange County's CU
When Orange County's Credit Union CEO Judy McCartney was first hired on as a vice president in 1982, the $863 million credit union had only $67 million in assets.
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Nexcentri Evolves to Become Extension of IT Department, CUSO Already Serving 30 Credit Unions
Over a six-year span, Nexcentri, LLC has evolved from a credit union services company to an information technology CUSO and along the way it says it has created a new model to bring a la carte IT services to the industry.
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CAMEL Exam Matrix May Be on NCUA's Chopping Block
NCUA is looking at whether the infamous CAMEL Matrix has outlived its usefulness and should be tossed in the circular file.
News Briefs
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Security Service FCU, Kilowatt FCU Merger Now Official
The $4 billion Security Service Federal Credit Union has officially merged with Harlingen-based Kilowatt Federal Credit Union.
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All Employees CU, Eaton Family CU Complete Merger
As of Oct. 1, Eaton Family Credit Union and All Employees Credit Union have merged.
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All Employees CU, Eaton Family CU Complete Merger
As of Oct. 1, Eaton Family Credit Union and All Employees Credit Union have merged.
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Texas CUREN Meeting Will Draw 80 Mortgage-Hungry CUs
The steady drumbeat for credit unions to seize the opportunity to boost their mortgage market share is resonating throughout the country as CU specialists organize smaller groups to capture member real estate loans.
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NEWS BRIEFS
News Briefs 10/10/07 Issue
Regulatory/Compliance
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REGULATORY AND COMPLIANCE
Regulatory and Compliance 10/10/07 Issue
Tech Bytes
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Tech Bytes
Tech Bytes 10/10/07
Special Report
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Connecticut CU Connects with Members, Adds to Loan Book with 7/24 Service
Martin Misset thinks his credit union would have missed out on a lot of business if it hadn't signed up with its 7/24 lending call center service.
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Franklin Mint FCU Replaces Microfiche with COLD/ECM System
Asking members to wait a couple of days for copies of statements just wasn't cutting it anymore.
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Silver State Schools Goes First with Mobile Service from Online Resources
No financial institution wants to be on the bleeding edge, but being on the leading edge is a must, and that's why Silver State Schools Credit Union has gone first with its vendor's mobile banking solution, its chief technologist says.
Briefs
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Postal CU First to Implement Member Business Advisor
Postal Credit Union is the first to sign on with CU Business Group and Experion Systems to implement the Member Business Advisor, an online tool that allows credit union staff to ask the "correct" questions during an interview with their business members.
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SR Briefs
SR Briefs 10-10-07
Opinions
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Nonmember Audits. What About Your Prospective Member Experience?
As an industry, we know a lot about our member experience. Credit unions conduct mail surveys, make follow-up calls, and time how long members wait in line in the lobby and in the call center queue. We hire mystery shoppers and monitor online "clicks" to make sure members can easily...
Statistics
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Security Information Management Tools on Upswing
IT security chiefs at big credit unions who find themselves deploying security information management (SIM) tools are not alone. Software that provides visibility to IT security throughout an enterprise is a fast-growing business, according to Forrester Research.
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Early Adopters of Tech Offerings Do More Online Financial Work
Those who go first do more. That's one conclusion of a sweeping survey of more than 56,000 adults in the United States and Canada by Forrester Research to see how people are using technology. The researchers found that "early adopters" comprise the first wave of buyers and tend to be...
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Disaster Recovery Not a Priority for Many Enterprises
Credit unions may be ahead of the overall business curve when it comes to disaster preparedness. According to a survey by Forrester Research's Enterprise and SMB Hardware Survey of North America and Europe, about 27% of all enterprises do not have a disaster recovery site in the event of a...
Letters to the editor
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Congrats to Mica
I fully concur with your support of Dan Mica's reappointment as head of CUNA. He is very "savvy" within the legislative milieu. He has certainly stood the test of time and has been quite effective in working with members of congress.
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United We Stand? Yeah Right
In light of the turmoil that faces our industry, I find it somewhat galling that the credit union movement continues to shoot itself in the foot on a much more frequent basis. From NAFCU deciding to help deliver ammunition to our banker friends by involving itself in a state insurance...
Opinion
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How I Took Action for the Best Interests of Credit Unions: I Resigned My Membership in a National Trade Group
Recently, I took action in the best interests of the credit union movement.
Publisher's Column
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What to do About Overdraft Protection
Overdraft protection continues to crop up as an issue that Congress is determined to deal with. The problem is there is very little consensus among financial institutions on what to do about what Congress says are abusive practices of overdraft protection.
NACUSO
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NACUSO's CEO Collaborative
NACUSO's CEO Collaborative 10/10/07 Issue
People
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People
People 10-10-07 Issue
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National Federation of Community Development CUs Going Mainstream
The National Federation of Community Development Credit Unions is no longer just for community development credit unions.
Resource Center
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