Despite all the negative news coverage regarding foreclosures, devalued investments and their effect on liquidity and capital, the credit union industry is in great shape, said executives from two corporate credit unions located in areas with high foreclosure rates.
For the third year in a row, Mountain America Credit Union has hosted its business services open house with the latest gathering drawing nearly 100 people.
Credit unions affiliated with the Maryland & District of Columbia Credit Union Association will have another resource to turn to for their business service needs.
Affinity Federal Credit Union recently teamed up with ActionCOACH for a free coaching workshop for small business owners.
Considered to be among the newest offerings within the financial services industry, remote deposit capture is now offered by nearly three-quarters of the 30 largest U.S. banks with more than 37% of community banks doing the same, according to a new report from Aite Group, LLC.
Sometimes the life of a federal regulator is all about preparing yourself for the question that never really comes.
The Winston-Salem Foundation has awarded a $100,000 grant to Latino Community Development Center to support the opening of a Forsyth County Latino Community Credit Union branch in Winston-Salem, North Carolina.
Three more credit unions have committed to using the uMonitor online account opening and funding solutions.
In a ramped up anti-credit union attack by bankers on Community Reinvestment Act compliance, the Wisconsin Bankers Association said last week it has introduced a bill in the state legislature aimed at the "large, nontraditional Wisconsin credit unions" that need to document serving low income and minorities.
Utah credit unions at last will be getting relief in making business loans following passage of a compromise bill hammered out between the Utah League of Credit Unions and the Utah Bankers Association and now ready for the signature of Governor John Huntsman, Jr.
Sixty-four Pennsylvania credit unions with 181 locations have now signed up for the 'Better Choice' payday alternative program with loan outstandings reaching $2.7 million, according to the Pennsylvania Credit Union Association.
SAN ANTONIO -- The Texas Credit Union League's advocacy push to court the media and spread the word about the CU role in grappling with the mortgage and credit crises paid off with one positive dividend last week: a tongue-in-cheek critique of the bankers' stance on the Credit Union Regulatory...
"It could have been worse," said Bob Hamer, former CEO of Norlarco Credit Union, which has now been completely absorbed by Public Service Credit Union of Denver.
The National Youth Involvement Board has singled out Aberdeen Proving Ground Federal Credit Union as No. 1 in Maryland for youth financial literacy efforts.
S1 Corp. has hired a 25-year technology veteran to be its new vice president in charge of the e-commerce provider's corporate product strategy, data center hosting, and managed services operations.
Fiserv Inc. has launched a new campaign to leverage the collective technologies and marketing strengths of its seven credit union core processing divisions.
The ongoing fight to further regulate or eliminate payday lending in different states and provide consumers with alternative products for short-term loan needs continues to percolate and change, drawing in new media and opening new fronts.
Following the Americana 'Red, White & You' theme, the band America kicked off the 2008 Governmental Affairs Conference at its new location in the Washington Convention Center. See complete coverage of CUNA's GAC on pages 24-27.
Jefferson County Teachers' Credit Union will be converting to an in-house core processing system from XP Systems.
Recognizing its investment program, the Bank Insurance & Securities Association has awarded PSECU its Award of Excellence for Program of the Year among community-based financial institutions, making it only the third credit union in the award's seven-year history to receive the recognition.
Small thoughtful gestures matter most to Lockheed Federal Credit Union staffers.
Premier Federal Credit Union is using a joint offering from CU Business Capital LLC and Postilion to offer online solutions to small businesses.
SWBC Investment Services, LLC, is expanding its service offerings.
CME Federal Credit Union is giving its staffers a voice through its new corporate-wide portal.
Boulder Valley Credit Union's eco-conscious business philosophy is making a splash in the community.
A Web strategy consultancy has been called in to help Campus Federal Credit Union update its Web site, six years after its latest launch.
The African-American Credit Union Coalition will be able to continue some of its ongoing mentoring, financial education and global projects thanks to dividends invested in the Pete Crear Fund.
In previous years much of the credit union political news that has come out of CUNA's Governmental Affairs Conference has come from lawmakers' remarks made on stage at the conference. But this year, with a hearing before the House Financial Services Committee scheduled for the last day of the conference...
The possible passage of a credit union regulatory relief bill of some sort prompted deep and thorough discussion of the need for that relief, as of press time, at a March 6 hearing before the House Financial Services Committee.
Financial Service Center Cooperative, one of two nationwide credit union-owned shared branch networks, has announced a pair of alliances that promises to help further the expansion of service options for credit union members nationwide.
Who says it is the slacker generation Credit Union Times spoke with five innovators who are not only under 30 but are also making a significant impact in the credit union industry bringing a fresh, progressive perspective to a traditionally stodgy industry.
Andrews Federal Credit Union is shaking things up at 60.
CEFCU is encouraging members to save by reducing the amount needed to open a savings account from $25 to $5.
For Missoula Federal Credit Union green is the theme for this year's annual meeting.
California credit unions have taken the lead on Governor Arnold Schwarzenegger's new Bank on California initiative.
Whatcom Educational Credit Union (www.wecu.com) has deployed a new document management solution across its 12-branch network to help automate its compliance initiatives.
Belvoir Federal Credit Union has donated $1,500 to Gold Star Wives of America, Potomac Chapter.
To experience the credit union movement in Ecuador, the World Council of Credit Unions has announced the dates for its 2008 Cooperative Learning Tours to the South American country.
CUES has named the winners of three partial scholarships for its 2008 CEO Institute program: Boyd Gustke, chief lending officer, Connexus Credit Union; Callie Huff, chief marketing /education officer, NationsHeritage FCU; and Thomas Vigueras, president/CEO, Health Associates FCU.
Card Services for Credit Unions and Visa USA recently teamed up to provide 300 member credit unions a fresh new look at youth marketing during a free Webcast, exclusively for CSCU members.
Credit Union's Virtual Assistant is doing its part to help credit unions better communicate and connect with the Hispanic market.
Despite a "flurry of bad news" in the markets recently, opportunities still exist to upgrade its portfolios, MEMBERS Capital Advisors recently reported.
Credit unions finished 2007 with just over $196 billion in surplus funds, according to the latest Credit Union Trends Report from CUNA Mutual Group.
The board of directors of E*Trade Financial Corp. have elected Chairman Donald Layton as its new CEO effective immediately.
More than 450 credit union financial advisors participated in CUNA Brokerage Services Inc's. recent week-long national sales conference aimed at enhancing reps' development and taking their businesses to the next level.
Over the past three years, certificates of deposits have accounted for 118% of all deposit growth.
The practices of the broker-dealer and investment adviser industries and their relationships with investors are housed in a new RAND Corporation report, put together at the request of the Securities and Exchange Commission.
Fourteen investors have settled lawsuits they filed three years ago against American Partners Federal Credit Union and three people connected with it, accusing them of deliberately selling risky investments to benefit themselves and the credit union, according to the Greensboro News Record.
Do you have an "investment department" or a "financial planning department" at your credit union?
While still a relatively new area for credit unions, trust services continue to command a profitable niche for other financial institutions.
Vancity experiences a drop in profits in 2007 in part due to a $13.9 million write-down of non- bank asset-backed commercial paper owned by the credit union's subsidiary, Citizens Bank of Canada, which held $77 million of the investments.
Credit unions just can't stop making news, particularly in Washington. Of course this last week, Capitol Hill got a huge dose of credit unions with CUNA's Governmental Affairs Conference taking place from March 2-6.
As the new publisher of Credit Union Times, I am now responsible for the Publisher's Notebook in which I will have the ability to offer views on topics of interest. I confess this is a little daunting as I have spent my publishing career on the business side of the...
CUNA held its 74th annual general meeting at GAC on March 3 that reflected on how far credit unions have come, and how much is yet to come.
CUNA's legislative and political update at the Governmental Affairs Conference last week stressed the importance of being politically active and gave advice on how to get involved.
Colin Powell, former chairman of the Joint Chiefs of Staff and Secretary of State, told attendees at CUNA's Governmental Affairs Conference that they need to keep at work preserving hope and should never forget that the great strength of America rests in how it welcomes immigrants who come to the...
WASHINGTON -- More than 1,100 people paid $200 apiece to attend National Credit Union Foundation's Wegner Awards Dinner this year, gathering for the first time in a ballroom of Washington's Grand Hyatt hotel to roar their approval of three credit union heroes.
CUNA's Governmental Affairs Conference displayed its usual elements this year. Politics, legislation and Hill visits played a part, as did a customary defense of credit unions from banker attacks and a measure of pageantry at the opening general session.
Credit Union Times' 2007 CEO of the Year MECU CEO Bert Hash (right) attended Credit Union Times' Awards reception to congratulate our 2008 CEO of the Year, Tom Glatt, CEO of Continental FCU. See full coverage in the March 19 issue.
The membership growth task force, appointed by former CUNA Chairman Allan McMorris, reported five specific focus areas and urged credit union leaders and employees to share some of their member growth success stories at GAC last week.
CUNA Mutual Group Senior Vice President Larry Blanchard moderated a panel discussion and update on unrelated business income tax at GAC that reported an expected two years ahead on the recent suit filed with the Wisconsin Federal Court.
EAST, SOUTH, MIDWEST, WEST
In the fi-linx article that ran in the Feb. 20 issue, the name "Check Casher" was mistakenly mentioned. The correct name is CheckChecker. We apologize for the error.