Credit Union Times Magazine April 13, 2011

Threats Bigger Than Debit Cap Loom as CUs Strive to Survive

By Robert McGarvey

This article could be called “Beyond Interchange Fees.” The changes that may come with a cap on interchange fees will be mastered by most credit unions. What this article zeroes in on are the very real threats that may imperil the very existence of many credit unions.

Capito Holds Forth on Interchange, Other Issues

By Claude R. Marx

Less than four months into her tenure as chairman of the House subcommittee with primary jurisdiction over credit unions and other financial institutions, Rep. Shelley Moore Capito (R-W.Va.) has already tackled a wide range of issues.

Debit Interchange Delay Effort Continues on Hill

By Claude R. Marx

Efforts to delay the implementation of the Federal Reserve’s debit interchange rule continued on Capitol Hill and at the grassroots level last week.

Ailing CDCUs Stir Debate Over Future Viability

By Jim Rubenstein

The industry debate over the propriety of the public campaigns of small, deeply troubled inner city credit unions to raise capital among other CUs and the citizenry has generated lively and sometimes strident rhetoric.

Bi-Partisan Lawmakers Ready Bill to Raise Member Business Lending Cap

By Claude R. Marx

A California Republican and New York Democrat were preparing to introduce a member business lending cap bill similar to an existing Senate measure.

Growth In Idle Money Draws Wary Eye

By Michelle A. Samaad

For credit unions and banks, having $6 trillion parked in some of their accounts should be a good thing, right? Not necessarily.

CUs Should Stick to Principles in Auto Lending Pricing, Southwest Corporate Investment Adviser Says

By Michelle A. Samaad

If credit unions stick to what they know when it comes to pricing for vehicle lending, it could pay off in the long run in building return and profits.

Nevada FCU Seeks to Prevent Interchange Hit

By Jim Rubenstein

Nevada Federal Credit Union has started early in preparing for the prospect of higher interchange costs by launching an ad campaign series.

Geezeo Revs Up Referral Engine

By Myriam DiGiovanni

Geezeo is helping credit unions go beyond just in-branch member referrals with the launch of a referral engine at ourreferralengine.com.

Desisa Sets New Record at 39th Annual Cherry Blossom Run

A new record in the men’s competition and a spirited battle for the women’s title highlighted last week’s 39th annual Credit Union Cherry Blossom run.

Looking for Meaning by Crunching the Numbers

By Robert McGarvey

Asthe October deadline for hitting key minimum financial ratios draws nearer, more spreadsheets are floating around the credit union industry.

Foreclosures Are Unheard of at National Federation of CDCUs

By Eileen Courter

Even as the economy improves, foreclosures remain a problem for many lenders–but not the National Federation of Community Development Credit Unions.

Sallie Mae Now Expanding Retail Push

By Natasha Chilingerian

Sallie Mae made a shift last year when it introduced a high-yield, online savings account and online certificates of deposit.

Viral YouTube Video Vaults BECU’s Gold Debit Card

By Myriam DiGiovanni

A simple video with a few people singing the University of Washington’s fight song has got people lining up for BECU’s UW gold debit card.

Star Light, Star Bright?

By Myriam DiGiovanni

The success of BECU’s viral University of Washington gold debit card campaign is not necessarily a cue for every credit union.

Should CUs Solicit Life-Saving Donations?

By Sarah Snell Cooke

The credit union industry faces an inherent dilemma: credit unions are drawn to work cooperatively yet they are responsible for their own shops.

Annual Meetings: Some Upbeat, Others Nervous

By Eileen Courter

For most credit unions, the annual meeting is as sure a sign of spring as flowers blossoming and leaves budding on trees.

Orszag Says Politics Hobbles Efforts to Fix Fiscal Woes

By David Morrison

SAN ANTONIO — A former White House official delivered a predominantly pessimistic view of the challenges facing the U.S. economy at a PSCU conference.

CEO: Timing Played Big Role in Card Success

By David Morrison

SAN ANTONIO — The CEO of one of the largest credit unions to come to offering credit cards attributed much of the CUs card success to its timing.

Social Media Revolution Already Affecting Credit Unions

By David Morrison

SAN ANTONIO — Social media is already having a direct impact in the way credit unions communicate, with or without a strategy.

Expert Emphasizes Employees, Brand and Passion

By David Morrison

SAN ANTONIO — A nationally recognized marketing expert reversed some myths for CU executives attending PSCU Financial Service's workshop last week.

Opportunity Seen in Direct Deposit

By David Morrison

A survey sponsored by NACHA, the electronic payments association, suggests that credit unions have room to grow in the most basic of electronic transactions.

Eavesdropping on Becker and Cheney

By Claude R. Marx

CUNA Presdent/CEO Bill Cheney and NAFCU President/CEO Fred Becker run rival groups but often talk about issues of importance to the credit union industry.

Preparing Your CUSO for an NCUA Review

By Brian Lauer

Many have heard the NCUA is going to focus on CUSOs. Here's some advice on how to prepare for such an examination

CUs Are Perfect Fit For Interns

By Bucky Sebastian

Looking for innovative, young talent? Credit unions have a big opportunity this summer with thousands of college students on break from school.

Mobile, Online, RDC, Small Business Are Areas for IT Growth at CUs

By Marc Rapport

The banking crisis of the past couple years has created both challenge and opportunity for credit unions as they adapt their IT tools to a new normal.

Consumers CU Finds Bank Platform Fits Its Mission

By Marc Rapport

It could seem that a Michigan credit union went out on a limb when it became the first CU user of a core processing platform for banks.

You May Want to Mix Check Image Capture Options

By Jon Reneslacis

Check imaging solutions have advanced rapidly in the six years since the Check 21 act took effect. Here's some help in sifting through the options.

Technology CU Prepares for Mobile RDC

By Marc Rapport

With “technology” as your name and Silicon Valley as your home, you'd better be able to serve up the goods.

Digital and Bricks and Mortar Fill Consumer Needs

By Marc Rapport

Don’t bag the branch yet. A study of U.S. consumers’ digital habits finds that the great majority still go bricks and mortar at least occasionally.

Fraud Solution Sold to Coastal FCU

Aithent Inc. of New York City said the $2 billion Coastal Federal Credit Union in Raleigh, N.C., has committed to investigation management solution.

Nine CUs Commit To Fiserv Core Platforms

By Marc Rapport

Nine more credit unions have committed to Fiserv Inc. for account processing solutions and other company products, the company said.

Apple, Android Support Added at Texas Dow Employees CU

Account access through Apple and Android mobile devices is now an option members of Texas Dow Employees Credit Union.

Spear Phishing Seen on the Rise

By Marc Rapport

Cyber criminals are shifting their phishing attacks to global targets and deploying sophisticated spear-phishing attacks that focus on individuals.

Credit Union Times Names Web Editor

Marc Rapport, longtime technology correspondent for Credit Union Times, is now joining the staff full time as online editor.

Robins Federal CU Buys Two Ga. Branches

Robins Federal Credit Union is expanding its central Georgia footprint by purchasing two branches spun off by Park Community FCU of Louisville, Ky.

Covera Card Solutions Signs Niagara’s Choice

Covera Card Solutions said the $70 million Niagara’s Choice Federal Credit Union has signed on to use the CUSO’s debit-ATM processing service.

Auto Body CU Takes New Name

More than 60 years after its founding to serve employees of an auto body maker, Auto Body Credit Union’s new name is Astera Credit Union.

Florida CU Merger Leader Expands Role

The executive tapped to lead integration of one of the biggest mergers in the credit union industry has a new role.

FAIRWINDS Credit Union Becomes Newest SBA Preferred Lender

The Small Business Administration has named the $1.5 billion FAIRWINDS Credit Union among its newest preferred lenders.

NetTeller Platform Hits 125 Users

About 125 credit unions and banks are now using Jack Henry & Associates Inc.’s MyNetTeller solution.

FedComp Adds Cloud Computing

Private cloud computing now is an outsourcing option for core processing clients of FedComp Inc. of Fairfax, Va.

ShiftIndiana Website Offers Volunteerism Resource

Locals interested in doing more to help their communities now have a one-stop resource at ShiftIndiana.com.

CO-OP Dividends Returns $20.2 Million in 2010 Patronage Pool

Citing operational savings, absorbing costs and expanding its reach, CO-OP Financial Services said it is returning $20.2 million to shareholders.

Motorola Employees CU Offers Mobile Triple Play

Members of Motorola Employees Credit Union in Schaumburg, Ill., can now bank through downloadable apps, SMS text banking and the mobile Web.

Small, Medium Businesses Being Hit Hard by Fraud

By Marc Rapport

More than half of the small and medium businesses participating in a recent study said they have been victimized by fraud in the past year.

Shutdown Loans Offered by Cabrillo CU

Prospect of a federal government shutdown prompted Cabrillo Credit Union of San Diego to begin offering a 0% interest loan to federal workers.

Card Debtors Study Cites 'Economic Shocks'

A study released by Demos, a research and advocacy organization, may shed light on why some working families have credit card debt and others don't.