Branching Out / Awards
As the baby boomers inch their way into retirement, credit unions are faced with the prospect of the most influential demographic needing retirement products as well as the challenge of how to attract their business.
Marking some kind of local record, the $344 million AEA Federal Credit Union has done it again: It was named "Best Financial Institution in Yuma County" for the seventh year in a row.
For the second year in a row, a new team of high school students from Irondequoit High School in Rochester, NY, captured the 2008 New York State LifeSmarts title when they bested 12 teams that converged in Albany from around the state to compete in the statewide finals.
Another economically disadvantaged North Carolina county will be able to help stabilize its teaching population thanks to a project being financed by the State Employees' Credit Union Foundation.
Sharetec Systems Inc. said six credit unions have recently decided to convert to its core processing system.
Cypress Software Systems has named a new vice president of software development.
What started out in 2004 as a group of industry movers and shakers coming together to bring real solutions to credit unions has blossomed into several projects prepped for actual implementation.
Mazuma Credit Union wanted to gauge how many baby boomers were seriously considering starting their own businesses.
For one day, members and nonmembers played leap frog in a big way at E53 Federal Credit Union.
A call center supervisor reacting to a CUNA Mutual alert about a sophisticated fraud scheme aimed at home equity lines of credit thwarted a potential loss of $548,000.
Enterprise Car Sales and NewGround, a design company have joined to promote credit union member interest in special used car values through a digital signage graphics program.
A few more credit unions successfully stepped up their efforts to expand the average number of the products and services their members use and build their average account balances in 2007, but most did not.
RIDGECREST, Calif. -- For AltaOne Federal Credit Union a question mark helped get area residents buzzing.
Seeking more flexibility in how disaster donations are disbursed, the National Credit Union Foundation took steps last week to help out Alabama tornado victims at the same time it got donor approval to redesignate $200,000 in California wildfire contributions from last year.
CU Business Capital LLC and State Employees Credit Union of Maryland recently conducted a small business training program.
Increased regulation for the financial services industry appears to be one of the most likely outcomes of the current financial crisis, but credit union lobbyists are working to promote credit union interests in the new conversation.
MagTek Inc. said its IntelliCAT card issuance and PIN selection system has now been integrated with the Ultradata core processing system.
Sekurus Inc., which focuses on protecting auto assets through management and tracking systems that secure the subprime auto loan portfolios of auto dealerships and financial institutions, recently announced iLocate, a global positioning system that utilizes digital cell phone technology to track vehicles anywhere in the world.
The CUNA Marketing and Business Development Council has named the members of its new executive committee and officers.
Rob Kimmett, Kelley Parks and Sean McDonald recently took center stage at the CUNA Marketing and Business Development Council Conference.
On the heels of the White House-blessed and Treasury-approved bailout of Bear Stearns, Representative Barney Frank (D-Mass.) offered his mortgage rescue legislation to Congress.
Effective April 1, Alabama Telco Credit Union is changing its deposit insurance to insurance provided by the National Credit Union Share Insurance Fund.
North Jersey Federal Credit Union has hired Gary Spivak as a financial adviser with its CUSO, North Jersey Investment Services.
After 36 years Member One Federal Credit Union CEO Dick Williams is retiring.
A milestone nearly five years in the making, MEMBERS Trust Co. is celebrating reaching $500 million in assets under management.
Lending Solutions Inc. said it has signed up three more credit unions as clients of its member service center in Elgin.
Covera Card Solutions is offering credit unions the opportunity to participate in United Way's Pennies for Change program to their members. Through this program, members of participating credit unions can opt to donate one penny every time they use their credit or debit card to make a purchase. The pennies...
TruHome Solutions, a mortgage lending CUSO, has recruited Ed Powell as its new mortgage sales manager.
Jan Harding-Baker has been promoted to executive vice president at Co-operative Payroll Solutions LLC, a payroll and tax processing CUSO.
The Golden 1 Credit Union announced a new compliance program that is designed to help Shapiro Group credit unions in California stay current on required compliance, security and operational training.
Empower Credit Union President Jennifer Schilling has been honored by the Milwaukee Business Journal as a "Forty Under 40" award winner.
Creating and running social network applications can be a daunting task for credit unions and other organizations facing a need to effectively deploy these new mass communications tools.
Sunmark Federal Credit Union will be a sponsor for the Rensselaer Polytechnic Institute Incubator's Networking Series for 2008.
Within the walls of US Federal Credit Union lurks a few HEROs.
Jim Ackerman, owner of Ascend Marketing, is raving about switching his business accounts from a major bank to Mountain America Credit Union.
The wife of Idaho Governor C. L. Otter is becoming a TV pitchwoman on education for the Idaho League of Credit Unions next month.
Redwood Credit Union and California Preferred Credit Union have announced plans to merge on June 1, 2008.
The $900 million NASA Federal Credit Union has discovered, as have other credit unions, ways to improve what had been a moribund credit card program into a higher performing asset.
ARLINGTON, Va. -- Idaho State Regulator Gavin Gee and Brass Media's Bryan Sims are among the speakers lined up for the annual NASCUS State System Summit.
Mobile banking is the latest offering from Gesa Credit Union.
NCUA Board member Gigi Hyland addressed the Women in Housing and Finance at the group's pubic policy luncheon on March 25 and chose to call attention to the valuable work being done by NeighborWorks. Saying the efforts being of NeighborWorks was always relevant, it has never been more so than...
Eastern Corporate Federal Credit Union's ALM & Investment Academies reached the 10-year milestone earlier this month, when 50 students completed coursework at Babson College in Wellesley, Mass.
Akcelerant Software LLC has added 29 credit unions to its client base in one stroke of the pen with the purchase of the TAPS lending software business from FORUM Solutions.
Through its CUSO, LCU Financial Services LLC, Eli Lilly FCU here has now added 16 Indiana-based credit unions to Members Auto Source, which provides auto-buying services to CU members.
We've all heard the phrase "location, location, location," but what if selecting the right site could make a difference of as much as $100 million in deposits?
Talk about organic growth. Carolina Postal Credit Union is still riding the wave of its popular "I Love My Hoopty" campaign.
The time has come for mobile banking to gain serious traction, and core processors will have a particularly crucial role, according to a veteran observer of the financial services technology scene.
VINtek, a provider of automotive collateral management services for automotive finance lenders, announced the launch of TitleMyCar.com, a direct-to-consumer auto loan documentation portal. TitleMyCar.com is used by direct auto lenders in conjunction with virtual lien perfection services also provided by VINtek (www.vintek.com).
Credit union assets and net worth continued to increase through 2007 as earnings followed their recent downward trend, according to a recent NCUA Letter to Credit Unions (08-CU-04).
Small business owners with military ties are gravitating to the Small Business Administration's Patriot Express Loan Initiative in a big way.
Franchises still remains an untapped market for credit unions and banks even though this business sector's numbers have increased 65% over the past five years.
Glatt Consulting LLC has released its new Net Promoter consulting solution for credit unions.
Shirley Stover's initial idea was for Sentinel FCU to just buy its own car dealership so it could offer more car choices and better deals to the soldiers at Ellsworth Air Force Base here. But Sentinel FCU, a $48 million-in-assets CU, couldn't afford that, CEO Nancy Ellwein told Stover, so...
Credit unions in Maine and scattered across other New England states are bracing themselves for potential costs in closing and reissuing credit card accounts after another U.S. retail chain reported a card security compromise.
You don't have to be a math professor to understand the implication of these numbers.
CUNA and the North Carolina Credit Union League have submitted arguments to the U.S. District Court for Eastern North Carolina in support of an effort to prevent credit union members who have entered into bankruptcy from keeping cars they owe the CU for if the bankruptcy court does not approve...
The state's eased laws on statewide branching for credit unions seem about to end and could cause a reduction in CU membership growth.
The keynote address at the America's Credit Union Conference and Expo this summer will be given by HGTV cofounder Susan Packard.
DealerTrack Holdings Inc. here announced a new platform to connect independent dealers to its network of financial institutions. The DealerTrack Independent Network is a new Web-based platform connecting independent dealers and financing sources, including credit unions. The platform will include risk-mitigation capabilities that enable dealers to provide additional financing options...
Reaching out to ease the liquidity squeeze in the student loan market, the Iowa Credit Union League said last week that member CUs are prepared to provide funding for Iowa college students through the Iowa Student Loan Liquidity Corp.
The case between the IRS and a Wisconsin credit union has moved closer to going to trial.
Alliant Credit Union President/CEO David Mooney has been appointed to Credit Union 24 Inc.'s board of directors.
Saugus Federal Credit Union recently gave Oaklandvale Elementary School students some hands-on banking experience.
University of Illinois Employee's Credit Union has recently celebrated the opening of its new Five Points branch. According to UIECU Executive Vice President Greg S. Anderson, the new facility establishes high visibility in a rapidly developing area.
PrimeWay Federal Credit Union recently hosted a ribbon cutting ceremony for the newly relocated and expanded North Houston Greenspoint branch.
OnPoint Community Credit Union is branching out and will open a new facility in Wilsonville, Ore., one of Portland's largest suburbs.
Vantage Credit Union celebrated its merger with Community Educational Federal Credit Union with a Wood River branch VIP ribbon cutting ceremony and public grand opening celebration attended by city and local officials as well as current and former credit union board members.
With its new Hopewell Township location Clearview Federal Credit Union has opened its seventh branch. More branches are slated to be opened in 2008.
The NCUA Board has issued an order prohibiting two individuals from participating in the affairs of any federally insured financial institution.
Nearly half of all checks written today are consumer to business, according to a recently released study by the Federal Reserve.
NCUA Vice Chairman Rodney E. Hood addressed attendees of the National Federation of Community Development Credit Unions Mortgage Lending Seminar and commended them for their positive work in the current economy and stressed the importance of continuing to "be a part of the solution."
The federal bank, thrift, credit union and Farm Credit System regulatory agencies are requesting public comments on new and revised interagency questions and answers regarding flood insurance for the Interagency Questions and Answers Regarding Flood Insurance that was first published in 1997.
The Financial Crimes Enforcement Network issued advisories to banks and other financial institutions of serious deficiencies in the anti-money laundering systems of the Republic of Uzbekistan, the Turkish Cypriot administered area of Cyprus, and the Islamic Republic of Iran.
NAFCU is encouraging credit unions to make their voices heard during a series of public comment meetings hosted by the Small Business Administration on its lender oversight and credit risk management systems.
The board of directors of the Federal Reserve Bank of St. Louis appointed James B. Bullard as the bank's new president/CEO.
What was the cost of automakers' incentives in 2007?
Schools Financial Credit Union is now increasingly using online communications with members to inform them of new products and special lending programs because monthly measurement of service satisfaction proves it reinforces loyalty.
Because approximately 90% of all franchised automotive dealers in the United States are active users of DealerTrack's credit application portal, David Trindler, the company's senior vice president of network solutions, wants CUs to know its process affords a quick response, which is key to getting the loan.
The CUDL AutoSmart Program and Web site has been presented with Summit International's 2007 Marketing Effectiveness Award for outstanding achievement.
Sitting atop their multistoried booth at the National Automobile Dealers Association conference here in mid-February, CUDL President/CEO Tony Boutelle and Executive Vice President Jerry Neeman surveyed the traffic below and glanced across the cavernous exhibit hall at the Moscone Center.
How can credit unions compete with auto dealer's zero-financing offers? One way that's never been tried by CUs, according to officials at Truliant FCU here, is a program they conceived called the zero-rate loan.
It's not been easy these past six months, admitted Mark Chandler, president of Autoland Inc., the auto buying CUSO resource for hundreds of credit unions nationwide, most notably in California, Oregon and Washington. "We've felt the bad economy here as much as anyone, but things are looking great. We had...
Your recent comments (CU Times, March 19, 2008) about the importance of branching to the growth and sustainability of credit unions are right on target. Your facts supporting the benefits of branching match the findings from CEO Advisory Group's 2008 National Growth Study.
The stories are told almost daily on the evening news broadcasts. Another homeowner is facing eviction, having failed to make that ever increasing mortgage payment. Another brokerage firm is in trouble. Banks scrambling to dig out of the hole that was created by making real estate loans that may have,...
The banking trades are working at all levels of the government to make life increasingly unpleasant for credit unions. This is why credit unions need to be politically active at all levels at all times.
"There's something to women and bill payment services and identifying a marketplace here."
East, South, Midwest, West
CUES has recently appointed Vantage West Credit Union CEO Robert D. Ramirez to its board.
Oregon Community Credit Union has elected new board officers.
While its 68th Annual Meeting was canceled due to blizzard conditions, Fiberglas Federal Credit Union still found a way to give back to the community.
Members and staffers of the Consumer Federation of America are mourning the loss of its former chairman, retired Senator Howard M. Metzenbaum.
San Antonio Federal Credit Union Board Director Sue E. Turner was recently inducted into the San Antonio Women's Hall of Fame.
With credit unions struck by snow in the Midwest and tornadoes and flooding elsewhere, Mother Nature has reminded credit unions once again how important disaster preparedness is.
HOBOKEN, N.J. -- With the ongoing development of technology in the financial industry Credit Union Times wants to know your opinion on a check-free United States.The United States will be check-free by:-2015-2020-2030-Never, there will always be checks.