Credit Union Times Magazine April-08, 2009
Featured Story
Branches Can Be Key in Strengthening Member Relationships
Even in tough economic times, don't count the branch out yet. Experts say that ultimately branches still serve the basic needs of member convenience and go a long way toward fostering relationships with the community at large and with individual members.
Front Page News
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Merchants Shift Focus on Interchange By Linking It to the Economic Crisis
Merchants are using the economic crisis to their advantage when it comes to card interchange.
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FIS Announces Metavante Purchase
Credit unions may have more options for core processing if the Fidelity National Information Services purchase of Metavante Technologies is completed.
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Annaloro: CUs Support PIMCO Inquiry
The Washington State Credit Union League showed no signs last week of backing down in its verbal assault against PIMCO.
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Lawmakers Review NCUA Funding Plan
Lawmakers who work on credit union issues are looking for ways to move forward the NCUA's proposal to create a stabilization fund for corporate credit unions, though it is not clear when that will take place.
News
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Senate Banking Committee Approves Increase in NCUA Credit Line
WASHINGTON -- A Senate panel last week approved an amendment to raise the NCUA's borrowing authority from the Treasury Department from $100 million to $6 billion.
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CUNA Expo Will Feature 'Life Is Good' T-Shirt Entrepreneur
Innovation and economic policy are among the topics scheduled to be discussed at CUNA's America's Credit Union Conference and Expo.
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Citadel Gets Expanded Community Charter
Citadel FCU will be able to serve an area of five million people in the Philadelphia area as a result of NCUA's decision to grant it a community charter.
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N.Y. CUs Explore Possible Merger
Looking to have an even stronger presence within its hospital-based field of membership, three New York credit unions have entered into talks to discuss a possible merger.
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Credit Unions Reopen in Fargo Flood Zone
Credit unions in Fargo, N.D., and its Minnesota neighbor across the flooded Red River in Moorhead learned a thing or two about coping with Mother Nature last week as nearly a dozen offices closed
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G-20 Regulations Could Affect CUs
The Group of 20 meeting in London could have permanent implications for U.S. credit unions, said Dave Grace, World Council of Credit Unions' vice president of association services.
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NCUA to Merge High Desert FCU
The NCUA, which has run High Desert Federal Credit Union since last October, plans to merge it with another credit union by June 30, the agency recently announced.
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Kansas and Texas Governors Make CU Appointments
Kansas Gov. Kathleen Sebelius has appointed Carol Malecki, past president of Educational Credit Union, to the Kansas Credit Union Council.
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America's First FCU Mourns CEO
America's First Federal Credit Union announced that former President/CEO John Stehpenson Jr. has passed away.
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TMG Announces CU Card Securitization Despite Toxic-Asset Flurry
Jeff Russell wants credit union executives to consider participations in credit union-issued credit card loans as one way they can boost their investment income in hard economic times.
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Aspire FCU Builds on Taxicab Medallion Success With Niche CUSO
Even before arriving at Aspire Federal Credit Union, Paul Perez was very familiar with the taxicab medallion business.
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Central States Mortgage Files for Liquidation Bankruptcy
Central States Mortgage Co., the mortgage origination CUSO that closed its doors March 9 handing the business over to a Detroit provider, has formally filed for bankruptcy protection in a Milwaukee court.
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FAA Eastern Region Is Now Aspire FCU
With hopes of reflecting a more diverse field of membership, FAA Eastern Region Federal Credit Union has changed its name to Aspire Federal Credit Union.
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Jason Lee to Succeed Dorman as TexasOne Community CEO
TexasOne Community Credit Union announced that its President/CEO Dennis Dorman has retired.
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Neb. Energy Appoints CEO
Nebraska Energy Federal Credit Union announced the appointment of its new CEO, Stan Fraser.
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Batching and Beyond: BECU Working to Push Automation Through Enterprise
Batch processing is not exclusive to financial services. But the need for accuracy may be singular.
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Meriwest CU Manager Finds It's Good to Be Queen, If Only for a Day
Ever wonder what you would do if you became CEO for a day? Meriwest Credit Union Collections Manager Julie Jaquith recently got to find out.
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Filene Report Urges Credit Unions to Partner With Tax Preparation Firms to Offer For-Fee Help
Two researchers for the Filene Research Institute have authored a report arguing that credit unions should partner with tax preparation companies to offer tax preparation for a fee to lower income employees.
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Card Rules Advance
WASHINGTON -- Despite industry efforts, two congressional panels last week advanced legislation to put additional restrictions on credit card issuers.
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Investment Authorities and Risk-Based Capital Debate Has Long History
The March 20 conservatorships of U.S. Central and WesCorp are causing some to question Part 704 rules that permit expanded investment authorities.
News Briefs
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National Federation Still Opposes CRA For CUs
The National Federation of Community Development Credit Unions has reiterated its long-standing policy of opposing the imposition of the Community Reinvestment Act on credit unions.
Special Report
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ASI FCU Opens Bilingual Branch
ASI Federal Credit Union opened its new full-service bilingual branch that serves New Orleans' Spanish-speaking residents as well as the credit unions overall membership.
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NewGround Report Says Now Is The Time to Start Branch Building
Now is the time to build, according to a report from international design and implementation firm, NewGround.
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Launching a Grand Opening? Never Underestimate Lure of a Snicker Doodle
When it came to the grand opening of its latest branch in Bellevue, Wash., Group Health Credit Union opted to feed the needs of its new community.
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Keep an Eye on the Future, Not Your Head in the Sand
Are you an ostrich or an eagle? Is your head in the sand? Or are you soaring above the forest looking for opportunities?
Editor-in-Chief's Column
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What Members Don't Want to Hear
Credit unions are making a lot of changes these days, many possibly out of necessity.
Letters to the editor
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NCUA Commands Cooperation for Corporate Chaos
A few weeks ago, two NCUA representatives went on camera at NAFCU and said that the industry needed to come together to save the corporate system.
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What, Exactly, Is Being Written Off?
The decision by the NCUA to place U.S. Central Corporate FCU and WesCorp FCU into conservatorship will result in an even higher losses compared to what was announced at the end of January.
Opinion
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Perfect Timing: Tough Economy Provides E-Marketing Opportunities
Times were different when DigitalMailer was launched in 2000. Back then, the U.S. economy was experiencing growth,
People
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PEOPLE
Holy Rosary Credit Union, Rochester, N.H., announced the promotion of Megan Dean to the position of senior teller of the Dover branch.
Other
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Credit Union Times Asks 'What Comes Next?'
When the bombshell dropped that the NCUA had taken U.S. Central and WesCorp into conservatorship the industry responded with reactions, outcry and concern over what will come next.
Resource Center
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