In Other News 10/10/07 Issue
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.
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.
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.
E53 Federal Credit Union had no idea that its "Crazy 8" certificate of deposit promotion would yield as much activity as it did.
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.
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.
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.
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.
With a number of auto industry losses and the constant threat of strikes, Michigan is feeling the impact.
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.
Kurt A. Alicuben has been tapped the new president/CEO of CU Hawaii Federal Credit Union.
The perception that trust services are earmarked for the ultra wealthy may be shared by some smaller credit unions.
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.
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.
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.
The Credit Union Association of Oregon Board of Directors announced last week that President Gene Poitras will retire as of Nov. 30.
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...
CUNA putting its two cents in on a Department of Education rule preserved a service and income stream for federally insured credit unions.
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.
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.
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.
The PULSE EFT Association, an affiliate of Discover Financial Services, has rolled out another layer of protection for ATM and debit transactions.
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.
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.
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.
NPR listeners will like the flavor of a new podcast series produced by WesCorp, which shares the human side of credit unions.
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.
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.
The Credit Union Regulatory Improvements Act (H.R. 1537) was up to 130 congressional backers last week.
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.
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.
NCUA is looking at whether the infamous CAMEL Matrix has outlived its usefulness and should be tossed in the circular file.
The $4 billion Security Service Federal Credit Union has officially merged with Harlingen-based Kilowatt Federal Credit Union.
As of Oct. 1, Eaton Family Credit Union and All Employees Credit Union have merged.
As of Oct. 1, Eaton Family Credit Union and All Employees Credit Union have merged.
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.
News Briefs 10/10/07 Issue
Regulatory and Compliance 10/10/07 Issue
Tech Bytes 10/10/07
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.
Asking members to wait a couple of days for copies of statements just wasn't cutting it anymore.
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.
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.
SR Briefs 10-10-07
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...
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.
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...
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...
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.
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...
Recently, I took action in the best interests of the credit union movement.
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's CEO Collaborative 10/10/07 Issue
People 10-10-07 Issue
The National Federation of Community Development Credit Unions is no longer just for community development credit unions.