Awards, Branching Out
A mere 9% of small businesses consider credit unions to be their primary financial institution--this at a time when major financial institutions continue to ramp up efforts to reach this pivotal market segment.
United Heritage Credit Union has gone live with a new online banking platform from Digital Insight.
MADISON, Wis. -- WOCCU just gained two associate members from among the major industry players at a recent board of directors meeting.
Americans in the emerging baby boomer category are forming small businesses at a rate higher than their younger counterparts.
Utah credit unions and banks were locked in delicate negotiations with state lawmakers last week to resolve a brewing clash over proposed changes to state laws aimed at easing business lending and field of membership limits.
With Kansas banks seeking to impose new field of membership limits, credit unions across the state were pumping up their lobbying activities last week to thwart banker-backed amendments to a CU-supported codification bill.
After more than a year of fundraising, the credit union industry raised its voice in a show of support honoring Dr. Martin Luther King, Jr. to the tune of $1 million.
Aiming to showcase the industry's positive subprime role, the Texas Credit Union League last week unveiled a statewide advocacy campaign to place "true success stories" in a broad cross-section of media outlets ranging from Internet blogs to radio talk shows.
As the pace of credit unions selling their card portfolios has slowed, CU-based purchasers have been among the few continuing to actively announce buys. The latest has announced its first contracts.
The House Financial Services Committee has scheduled a hearing, The Community Reinvestment Act: Thirty Years of Accomplishments, but Challenges Remain, for Feb. 13.
PHOENIX -- There was plenty of Arizona buzz last week about the possibility of congressional hearings during or after CUNA's Governmental Affairs Conference next month.Nobody ...
BECU has announced that Kathy Elser has been promoted CFO/vice president of finance & administration.
Credit union IT security managers who think the first and only line in their job description is staying ahead of hackers and reacting to "tactical security events" might want to get with the changing times.
Acknowledging the impact of the current economy on small credit unions, the Missouri Credit Union Association is considering a reduction in dues next year.
A new professional group for credit union employees serving the member business services market is the brainchild of the Pennsylvania Credit Union Association.
While mortgage production was down 15 % across the country last year, Prime Alliance Solutions, Inc. reported an increase of 20% in mortgage transactions from 2006 to 2007.
Fiserv has announced the release of a new version of its CheckFree Adjustments/Express system, which promises to automate ACH disputes the way it electronically processes check adjustments.
Who better to preach the gospel than members of the congregation?
With job security being called "the big issue" by its employee union, CUNA Mutual Group was slated to begin its first preliminary contract talks last week with representatives of Local 39 of the Office & Professional Employees International Union AFL-CIO.
A recent Wolters Kluwer Financial Services survey finds that for financial institutions offering Health Savings Accounts represent a growing business opportunity.
Oregon Community Credit Union is lending a helping hand to area medical students.
The Golden 1 Credit Union has named Bill Thorla senior vice president of branch administration and member service call center.
Using gift cards, fee cuts, and cash contests, Tinker Federal Credit Union is hoping to make a strong case with the public that "unlike a bank," it rewards its members with its profits.
Valley Credit Union recently celebrated the 10th anniversary of its Babies in the Workplace program with a reunion of current and past employees and their children who have participated in the program.
The $808 million Andrews Federal Credit Union has begun offering its members an alternative payday loan program.
Greylock Federal Credit Union latest donation to the Financial Literacy Program in the Pittsfield Public Schools is helping the area's youth become more financially savvy.
With rising consumer debt, ever-increasing numbers of bankruptcy filings, and growing numbers of predatory financial services, IC Federal Credit Union has teamed up with the BALANCE to arm its members with comprehensive education and counseling from a trusted resource.
The Washington Credit Union League is reporting the success of a measure it supports that would allow CUs to recoup their losses when retailers experience card data breaches.
On Feb. 5 The Department of Highway Safety and Motor Vehicles Credit Union received the final approval from members to merge with First Florida Credit Union.
It may be a lot easier for people to find positions within the credit union industry.
The Organization of Black Airline Pilots has selected Wings Financial Federal Credit Union as its official credit union.
The New York City Taxi and Limousine Commission has announced it will fine taxi drivers who refuse to accept cards as payments for taxi fares.
AUSTIN, Texas -- Teres Solutions Inc. customers generated nearly $44 billion in automated loan volume on its platforms in 2007, the lending software specialist's fifth year in business.
Credit unions considering going live on the uber-popular Wikipedia do-it-yourself Internet encyclopedia might want to listen to what a Forrester Research analyst has to say.
After a little over a year of gathering data from more than 1,300 credit unions and 60 broker-dealers on the scope of their investment programs, reaching more members has become an attainable reality.
CashEdge Inc. said it executed more than $38 billion in account-to-account transfers initiated by consumers in 2007, a 300% increase from the year before.
Union College's U-Start Business Incubator Lunch and Learn Program will once again be mainly sponsored by Sunmark Federal Credit Union.
In a follow-up to its plan to take over the failed $230 million Norlarco Credit Union of Fort Collins, Public Service Credit Union of Denver said last week it has selected high-profile industry figure Bob Hoel, formerly of the Filene Research Institute, to serve on the PSCU board and revamp...
High Desert Federal Credit Union here has operated one of the most successful construction loan programs in the credit union world, but it's not been immune to the downturn that's hit the Golden State's credit unions, said president Tom Brown.
or providing "high quality" financial and retirement planning services to members, Craig Allen, a financial advisor with SELCO Community Credit Union, recently earned CUSO Financial Services LP's 2007 Gold Pacesetter award.
Thanks to a Super Bowl promotion by the $1.1 billion Arizona State Credit Union, Children's Miracle Network is $15,000 richer.
For credit unions, the BizKid$ bandwagon has been on a roll for the last six weeks, with "kickoff" parties, raffles, and family events occurring--along with the all-important CU branding and messaging appearing at the end of each TV episode on local public broadcast channels across the U.S.
Dr. Robert Hoel, the former long-time executive director of the Filene Research Institute and this year's winner of the Herb Wegner Lifetime Achievement Award, said he fell in love with credit unions primarily by seeing the impact they made in the lives of their members.
After an initial growth spurt, consumer adoption of online bill pay seems to be slowing, according to a new report from Forrester Research, and new tactics are now needed to maximize the channel.
SEFCU has announced the recent promotion of John Lawler from senior vice president to executive vice president of Wealth Management Services.
Arrowhead Credit Union encountered some resistance during last week's city council approval of its new office building, but officials from the $1.1 billion institution say the project's a go.
NASA Federal Credit Union recently held its first Community Shred Day.
TDECU officials have announced that the credit union has merged with THD District 13 Credit Union.
For the 64th consecutive time, First Bristol Federal Credit Union has achieved a 5-star rating from BauerFinancial, Inc.
South Division Credit Union is helping its members learn more about long term care insurance.
Royal Credit Union adopted a pro-active approach to the subprime and adjustable rate mortgage loan problems that may arise in the service area of Chippewa Valley.
Standard & Poor's rating agency recently lowered U.S Central's long-term debt rating to AA+, its second highest, from AAA, its highest. The new rating assignment was "prompted by S&P's concern over values of mortgage-related securities in U.S. Central's investment portfolio," according to U.S. Central.
David Layman, AIA, is president of Hooker DeJong, the architectural and engineering consulting company here that takes a decidedly different approach to working with credit unions on facilities design. And Donald Mills, CEO of Alpena Alcona Area Credit Union in Alpena is a satisfied client.
Three years ago, the $87 million Canton School Employees Federal Credit Union was so discouraged with the performance of its credit card program that the CU was considering selling it, according to CEO Stan Barnes.
With a 133% population jump over the past five years and 300 new businesses forming each month in Prince William County here, the time seemed more than right for Synergy One Federal Credit Union to revamp its business services offerings.
With one of the highest assets-per-member ratios in the business and a high penetration rate for its online banking channel, Star One Credit Union would seem to be a prime target for fraudsters.
Providing free tax help to low-and moderate-income families is proving a big winner for Michigan credit unions with the Michigan Credit Union League reporting a huge boost in taxpayers taking advantage of its two-year-old "Just File It-We'll Help" program.
A tech consortium of five small northern California credit unions has added an automated lending solution to its competitive arsenal.
Kevin Tennyson has joined Coastal Federal Credit Union as the vice president of trust and investment services.
The latest updates involving the distribution of more than $339 million to those who were impacted in the Bentley Financial Services certificate of deposit Ponzi scheme came on Jan. 31.
With a 75-year track record of serving consumers, California Credit Union is hoping to build just as strong of a relationship with business owners.
CUNA Mutual Group has hired Steve Koslow as senior vice president, chief ethics and compliance officer, a new position for the company.
Community Choice Credit Union is moving its corporate headquarters to Farmington Hills, Mich. and has purchased the former Citizens Republic Bancorp office building.
US Federal Credit Union partnered with Thrivent Financial and Lutheran Social Service of Minnesota and opened its doors to the newly renovated Eastside Financial Center.
After 30 years of service, Purdue Employees Federal Credit Union Facilities Manager Dave Melville is retiring.
Design/build firm DEI Incorporated has added Eric Corti as the executive vice president of construction and Jeannine Long as the vice president of human resources to further strengthen its management team and expand internal and external services.
Senior Project Development Manager Cheryl Waybright of strategic consulting and financial facilities development firm LEVEL5 has been recognized for completing the professional development series for the CoreNet Global Master of Corporate Real Estate.
FORUM Credit Union and the WNBA Indiana Fever are looking for the next Teen Entrepreneur.
Michigan First Credit Union (www.michiganfirst.com) has been awarded the 2007 Generation Next Award, in recognition of its "overall achievement in outstanding contributions to the credit union youth movement" and for "effectively bridging the gap for the next generation of credit union members."
Affinity Federal Credit Union's Mountain View Branch took its Super Bowl celebration to the next level by hosting a "Souper" Bowl event in support of the Somerset County Food Bank.
The Utah League of Credit Unions recently appointed Jim Bennett as its new director of communications.
There's a new strategic research, marketing and sales development player in the credit union marketplace--CVJ Solutions.
Desert Schools Federal Credit Union recently served as presenting sponsor of a different kind of football event for kids--the 2008 Snoop Bowl. For the fifth year in a row the Snoop Bowl took place one day before the actual Super Bowl in the host city. Held at Hamilton High School...
Washington's Department of Financial Institutions has issued a letter detailing how the state's credit unions can add "associate board members" to their boards.
Under President Bush's proposal, the Small Business Administration's 7(a) guaranteed loan program would receive $17.5 billion and the 504 or Certified Development Company program would get a $7.5 billion boost.
As NCUA puts a focus on CU relationships with third-party vendors, CUNA is launching an effort to help CUs cope with the increased attention and scrutiny. The agency previously announced that third-party vendor relationships would be a focus in examinations this year.
To help expedite the distribution of more than $5 billion Securities and Exchange Commission recoveries to injured investors, the agency announced on Feb. 5 the creation of the Office of Collections and Distributions.
Matt Roedell is well aware of consumer wariness about financial institutions' ability and willingness to adequately lock down personal data.
JACKSON, Mich. -- Jackson residents concerned about identity theft had a chance to shred their confidential documents for free during American 1 Federal Credit Union's Shredfest.
Wolters Kluwer Financial Services and NAFCU Services Corporation is helping credit unions take proactive steps to fight internal fraud with its latest free podcast.
CUNA Mutual has amplified two warnings from Visa USA about hackers seeking to steal cardholder information by compromising financial institution computer systems and networks.
Perimeter eSecurity has acquired a provider of outsourced e-messaging compliance to public and financial services companies.
Justice Federal Credit Union has gone live on an anti-money laundering solution from Fortent.
The "Campaign for Ending Hunger," sponsored annually by the Maine Credit Union League, hit a record $366,000 in 2007 and drew the praise of the state's first lady, Karen Baldacci at ceremonies last week.
DUBLIN, Ohio -- File transfer protocol is one of the original means of moving information around the Web and is increasing in use despite concerns about security and reliability, a new survey showed.
Fidelity National Information Systems and Card Services for Credit Unions have partnered to roll out a new card fraud protection tool.
NAFCU Services Corp. and Digital Defense will present what they call the "Credit Union Extreme Hacker Challenge" at the 2008 NAFCU Technology and Security Conference in Las Vegas on Feb. 25-28.
The Anti-Phishing Working Group has added an Ireland-based provider of global registry services to the cybercrime-fighting organization's steering committee.
Sunnyvale-based Fortinet Inc. is now providing integrated security appliances to San Mateo Credit Union.
The Postilion Data Center in suburban Atlanta has received a key security nod.
DigitalPersona Inc. has released a new version of its widely used fingerprint authentication solution for enterprise networks and commercial applications.
Code Green Networks said that credit unions in Iowa and Kentucky are among the first to buy its new content inspection appliance for smaller enterprises.
Making purchases with the quick wave of a cell phone or a plastic card--rather than a swipe--in front of a reader or scanner is becoming a reality as issuers and merchants begin to show support for contactless payments.
As reported in the January 30 edition of the Credit Union Times, the Aite Group consulting firm's survey of larger credit unions entitled, "The Evolution of the Credit Union Market: A Survey of Credit Unions," has generated a lot of talk and speculation.
Influential House Financial Services Committee Chairman Barney Frank (D-Mass.) has always been a strong proponent of the Community Reinvestment Act and is looking to revamp the program to bring all financial services providers under the law and revise enforcement capabilities.
"We know where he is on CRA and we respectfully disagree with him."
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