Credit Union Times Magazine August-06, 2008
News
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NECU Pledges $10 Million
PORTSMOUTH, N.H. -- Northeast Credit Union has pledged $10 million toward student loan funding in support of the New Hampshire Higher Education Assistance Foundation.
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Southwest Corporate Announces Economic Forum Speakers, Opens Registration
PLANO, Texas -- Southwest Corporate Federal Credit Union has finalized an impressive line-up of speakers and officially opened the registration process for its 2008 Economic Forum, set for Oct. 28 and 29 at the Westin Galleria Hotel in Dallas.
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CUNA Program Provides Training To Build and Retain Loyal Members
MADISON, Wis. -- CUNA is working to bridge the gap between member use of credit union products and member loyalty.
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Banc Insurance Purchases Jack Henry Arm
EAST GRADY, Conn. -- Things are shaking up at Banc Insurance Services, a turnkey insurance agency solutions provider.
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Maryland CU Rolls Out Card To Assist Members Without Credit
LANHAM, Md. -- The $241 million FedChoice Federal Credit Union has introduced a credit card designed to help members build a credit history.
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Freedom FCU Cultivating Patriots at Md. Elementary Schools
BEL AIR, Md. -- Freedom Federal Credit Union is helping some local elementary school students learn about patriotism and the nation's history with its Patriot programs.
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First CU Adds Web Locator
CHANDLER, Ariz. -- First Credit Union has added the ATM- and branch-locating services of BranchMap to the $503 million CU's Web site.
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Report: E-Business Banking Execs Know What to Measure, but Methods Elusive
CAMBRIDGE, Mass. -- A Forrester Research survey of 24 financial service e-business executives found that most of them know what says success in their business but that most aren't using the right tools to prove they're hitting the mark.
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Rise in Innovation Grants
WASHINGTON -- A three-year-old program of the National Credit Union Foundation extending grants to those of modest means during a tight economic period is witnessing a spike in requests as a result of the poor economy and rise in foreclosures.
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Evangelical Christian CU Refocuses Web Site Into Relationship Resource
BREA, Calif. -- Evangelical Christian Credit Union has transformed its Web site (www.eccu.org) into a relationship-based resource for ministries.
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Despite Taliban Prison Break, WOCCU Opens Financial Cooperatives in Afghanistan
KANDAHAR PROVINCE, Afghanistan -- More than 100 people gathered for the grand opening of the Kandahar Islamic Investment and Finance Cooperative on July 15 despite a nearby prison break a month earlier that freed 800 prisoners, including 400 Taliban fighters.
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Design Firm In Employer Hall of Fame
ST. LOUIS -- Design and build firm Clayco Inc. has been recognized as a great place to work.
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AAC CU's Member, Customer Difference Video Wins CUSO Contest
GRAND RAPIDS, Mich. -- AAC Credit Union's video on the differences between credit union members and bank customers was so convincing that it won the CU*Answers "Lights, Camera, Action" contest.
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OnPoint CU Upgrades
PORTLAND, Ore. -- OnPoint Community Credit Union said it is upgrading to the latest versions of Integrated Media Management's document preparation solution.
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OnBase ECM Provider Takes Over Liberty Information Management
CLEVELAND, Ohio -- Hyland Software Inc. has acquired Liberty Information Management Systems.
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Neighbors FCU Names New CFO
BATON ROUGE, La. -- Neighbors Federal Credit Union has named Jody Caraccioli its new chief financial officer.
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Innovators Join Filene Research Institute's i3 Team
MADISON, Wis. -- The Filene Research Institute has selected 13 new executives to join its i3 innovation team.
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Turnover Can Be as High as 27% Among CEOs Hired From the Outside
HOUSTON -- If you hire a new CEO this year, there's a 27% chance they'll be gone within three years.
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Chairman JoAnn Johnson Reflects on Her Tenure at NCUA
ALEXANDRIA, Va. -- JoAnn Johnson recently left the NCUA Board after serving for six years, including four as chairman. The former teacher and Iowa state senator sat down in her mostly empty office at the agency headquarters here two days before her final meeting to reflect on her tenure and...
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Idaho and N.H. CUs Are Holdouts on Deposit Insurance
WASHINGTON -- The West and New England both have strong traditions of individualism.
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CUs and Leagues Undergo Media Testing on Safety and Soundness
TUCSON, Ariz. -- It might be called trial by fire or on-the-job media training, but it's something Raymond Lancaster, president/CEO of the $65 million Pyramid Credit Union, might now include in his job resume after witnessing the public's anxiety over deposit insurance and failing banks.
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Fryzel Becomes NCUA Chairman
WASHINGTON -- The Johnson era at NCUA has ended and the Fryzel era has begun.
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August Hearing Is Scheduled on Compensation for Fired CUNA Executive
WASHINGTON -- The wrongful termination case against CUNA will reach the next phase later this month during a hearing on money.
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Trinergy Is the New Kid on the Block Has Deep Roots in Core Processing
CHICAGO -- Trinergy LLC is a startup credit union core processor with a short client list but deep roots in a crowded, competitive space--and an unexpected sideline.
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Truliant FCU Clears Up Deposit Insurance Misconceptions
WINSTON-SALEM, N.C. -- In an effort to bring members up to speed, $1.1 billion Truliant Federal Credit Union will host eight education seminars across North Carolina in August explaining how fund insurance works and how members can structure their funds to get the maximum benefit.
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Navy FCU Looks to CUSO Financial for Back-Office Investment Support
SAN DIEGO -- Navy Federal Brokerage Services LLC and Navy Federal Asset Management has signed on with CUSO Financial Services LP for back-office investment support services.
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Travel-Related Card Interchange Income Is Expected to Decline This Year
ARLINGTON, Va. -- It's almost certain that credit union card programs will see less card interchange from travel and tourism this summer; the only question remaining is how much.
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1st Liberty FCU Starts Shared Branching in Montana
ATLANTA -- A credit union with branches in Montana has brought shared branching to that state.
Front Page News
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Conversion Success Story: Former CU Performs in Down Market
DALLAS -- ViewPoint Bank, the former Community Credit Union, continues to demonstrate that former credit unions do not just survive as banks, they can thrive as well.
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Arizona FCU Goes Public With Big Loss
PHOENIX -- In what is being seen as both a surprising and disquieting disclosure, the $1.9 billion Arizona Federal Credit Union last week reported $42.5 million in midyear losses, one of the largest of its kind among recession-scarred CUs in California and Arizona.
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Balancing CU Goals and Member Needs Leads to Building the Right Kind of Branch
ATLANTA -- Supermarket, storefront or free-standing--what's the best fit for your credit union's branch?
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Iowa's Community Business Lenders Joins Others in $57 Million Loan Lawsuit
DES MOINES, Iowa -- Eight lenders, including Community Business Lenders, have filed a lawsuit against Regency Cos. to recover $56.76 million in defaulted loans after the residential developer was forced to close shop because of the beleaguered housing market.
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Building Strong Member Connections Takes Innovation and Laser-Like Focus
NEW YORK -- Credit union conference breakout sessions and industry blogs often provide examples of institutions that have made strong connections with their target market. These credit unions, banks and other entities are so in-tune with their audiences, they don't just provide service, they create entire business models around their...
News Briefs
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Financial Society Elects First CU Executive to Board
CHICAGO, Ill. -- Financial Managers Society has elected Daryl J. Cady, executive vice president/chief financial officer at St. Mary's Bank CU, to the board of directors, the first female and first credit union executive to serve as chairman of the association in its 60- year history.
Facilities
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Aite Study Finds Room to Improve
BOSTON -- A recent Aite Group study, "Stronger Branches, Segmented Roots," found that there's room for improvement at the bank branch level.
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Design and Build Firm DEI Finds New Opportunities in Classic Markets
CINCINNATI -- Design and build firm DEI may be redefining the de novo strategy, particularly for community credit unions.
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Tucson Old Pueblo CU's Latest Branch Struts With a Southwestern Flair
TUSCON, Ariz. -- With its latest branch, Tucson Old Pueblo Credit Union has managed to embody the friendliness of the area and Interim CEO Ellen Yacovone couldn't be happier.
Regulatory/Compliance
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NAFCU Will Hold Webinar
ARLINGTON, Va. -- Credit union employees who want to learn about the latest rules for performing due diligence and monitoring third-party outsourcing can attend NAFCU's Aug. 6 Webcast on the subject.
Opinions
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Why Green Still Matters to Your Branch and Your Members
Even the noblest of causes is not immune from issue fatigue. In the past year, we have all heard the merits of living a green lifestyle. Whether it's the food we eat, the cars we drive or the buildings in which we live and work, there seems to always be...
Editor-in-Chief's Column
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Fryzel Steps In With a Yeoman's Load to Bear
Michael Fryzel has taken the yoke at NCUA. I use the word yoke because credit unions and the overall financial services marketplace are entering a unique and volatile time. This period will present credit unions and their regulators with challenges and, hopefully, opportunities.
Letters to the editor
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From the Editor: Keep Those Letters Coming!
Credit Union Times has a goal for 2008 to include Letters to the Editor in nearly every, if not all, issues. We had letters in nearly every issue of 2007.
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Ray Curtin: Friend, Role Model and CU Professional
On Sunday July 21, 2008, the credit union movement lost a great leader and many of us lost a close friend with the passing of J. Raymond Curtin of Syracuse, N.Y. Ray was the CEO of Empire Federal Credit Union in Syracuse and, with John Wakefield of Power FCU, engineered...
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All in the Family
As a 20-year volunteer and two-time board member of Navy Federal Credit Union, I want to comment on Paul Seibert's letter, "Navy Federal Plays on Tilted Playing Field," (CU Times, July 16, page 16).
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The Tech Savvy Next Gen Will Put CUs to the Test
Last month, I had the opportunity to attend a thought leader session at CUNAs America's Credit Union Conference & Expo in New York City on generational differences.
Quotes Worth Quoting
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Quotes Worth Quoting
"We're not looking for the white elephant out there."
From the Board Room
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Board Changes at IC Federal CU
FITCHBURG, Mass. -- IC Federal Credit Union has elected a new board chairman and vice chairman.
Other
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SCHOLARSHIPS
Belvoir Federal Credit Union, Woodbridge, Va., announced the winners of its 2008 scholarship competition. The winners were each awarded a $1,000 scholarship: Benjamin White, Alison Firich and Molly Andresakes. White will be attending Virginia Tech in the fall, Firich will also be attending Virginia Tech and Andresakes will be attending...
Resource Center
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