Credit Union Times Magazine December-15, 2010

Former Arizona Credit Union Vice President Is Arrested

By Michelle A. Samaad

An 11-month federal investigation has revealed that a former vice president of business services at AEA Federal Credit Union in Yuma, Ariz., was allegedly one of the persons behind the approval of business loans in an apparent $1 million kickback scheme.

Senators Press Matz On Corporate Credit Union Woes

By Claude R. Marx

Senators of both parties asked pointed, though not hostile, questions of NCUA Chairman Debbie Matz about how the agency dealt with the problems of corporate credit unions and whether the agency's examination procedures were adequate.

Southeast's New Capital Plan

By Jim Rubenstein

Southeast Corporate Federal Credit Union disclosed its new business and capital plan to its members at press time, shoring up its balance sheet with $80 million in capital.

Former League Head Urges Merger of Three Corporates

By Jim Rubenstein

The merger rhetoric on corporates brought a fresh call last week from the retired head of the California-Nevada Credit Union Leagues, David Chatfield, that three already conserved corporates be consolidated.

Telesis' Loan Recoup Attempts Go On

By Michelle A. Samaad

Telesis Community Credit Union in Chatsworth, Calif. is continuing its recovery efforts on several out of state commercial real estate property loans that are in default.

Payment Innovations Seen Coming From Durbin Application

By David Morrison

The Durbin Amendment to the Dodd-Frank financial reform act will likely cut credit union debit card income in the short term but may also spur further innovations in the payments industry.

Mission Capital Donations Hit $30,000

Though mindful of its weakened financial condition, the $6.6 million Mission SF FCU of San Francisco pressed ahead last week with industry fundraising to bring in a minimum $50,000 of capital to stave off a merger or liquidation.

Michigan Merger

United Financial Credit Union will be merging the $34 million Consumers Choice CU on Jan. 1. Both credit unions are based in Saginaw, Mich.

Credit Unions That Sold Portfolios Face Day of Reckoning

By David Morrison

The market for credit union credit card portfolios has slowed down.

Holistic Approach Helps CU Become Trusted Resource

By Myriam DiGiovanni

Seeking to be the institution that can tell members "yes," financial education has pervaded every program, product and service offering at St. Louis Community Credit Union.

Branch-Building Conveys Stability Focused on Growth

By Myriam DiGiovanni

At a time when consumer confidence in banks is low, the building of new branches can help reinforce the image that a credit union is not only stable but focused on growth.

Monroe CEO to Retire; Newman To Take Reins

After 40 years of service, Monroe County Community Credit Union President/CEO Paul Assenmacher will retire effective April 1, 2011.

Catholic FCU V.P. Frisch Passes

Catholic Federal Credit Union Senior Vice President Deborah Frisch has died at the age of 53 following a brief illness.

Marketing and Sales Culture Target Inactive Accounts

By Joyce Moed

As the new year approaches, many credit unions are looking for new ways to increase profits and become more effective.

A Credit Union Holiday Wish

By Sarah Snell Cooke

Twas the night before assessments And all through the credit unions CFOs were all grumbling Not hiding resentments.

Positioned For the Future

In the Oct. 27 issue, former NCUA Chairman Dennis Dollar posed a series of thought-provoking questions for credit unions to ask their corporate credit unions

Senate Is Key to Fate Of Credit Union Wish List

By Claude R. Marx

If nothing else, Credit Union Times is all about helping readers understand their world.

Plans for Co-Op Year

World Council of Credit Unions is doing its part to make sure credit unions are front and center in the United Nations' International Year of Cooperatives celebration in 2012.

Greylock Student Loans

Greylock Federal Credit Union has teamed up with student loan solutions provider CampusDoor to offer Credit Union Student HELP Smart Option Student Loans made by Sallie Mae.

Marketing Key to Member Retention

Credit unions rely on their existing members to keep them in business.

Bessie Does What Comes Naturally

By Marygrace Murphy

Merck Sharp & Dohme Federal Credit Union of Chalfont, Pa., raised $23,600 for charity this year with the help of a generous membership base and a 4-H cow named Bessie.

A Night at the Circus to Aid Kids

By Marygrace Murphy

Many people fondly recall the sights and sounds of a childhood trip to the circus. Portland, Ore.-based OnPoint Community Credit Union

Red Cross Wins in Ohio State vs. Michigan

By Marygrace Murphy

While the Ohio State Buckeyes and their longstanding rivals, the University of Michigan Wolverines

Educational Programs Support Financial Freedom

As the charitable arm of America's credit union movement, the National Credit Union Foundation's programs and grants provide widespread financial education

Fighting Cancer

By Jonathan Londino

EasCorp's Credit Union's Kids at Heart program provided $50,000 for cancer research last month as the presenting sponsor of the New England Celebrities Tackle Cancer Gala in Foxboro, Mass.

Ent FCU Unites for United Way

By Jonathan Londino

Ent Federal Credit Union broke a personal record this year for charity, raising $124,516 for the United Way.

Donations

Alliant Credit Union, Chicago, participated in the 2010 Plane Pull to benefit Special Olympics Illinois, held at O'Hare International Airport.

People

GFA Federal Credit Union, Gardner, Mass., recently recognized its CEO Tina M. Sbrega for her 30 years of service to the credit union.