Credit Union Times Magazine April-14, 2010

Front Page News


News Briefs

  • Large CU Signs for Shared Branching

    The more than $1 billion Pacific Service Credit Union has joined the Financial Service Centers Cooperative to start offering its roughly 65,000 members shared branching services.

  • Chrysler Puts Brakes on Invest Incentives

    CUcorp, the Michigan Credit Union League subsidiary that heads the Invest in America program, announced that incentives on Chrysler vehicles have been temporarily suspended for the month of April.

  • Berrien Teachers' Merging With Otsego

    The $276 million Berrien Teachers' Credit Union of St. Joseph, Mich., is expanding its western Michigan footprint by moving ahead with a merger of the $2.5 million Otsego Paperworkers Credit Union.

  • Mich. Record Proves Biz Lending Experience

    Offering business loans for 85 years, Michigan's credit unions have been able to do so "in the same prudent and common-sense manner that they have also handled mortgages and personal loans," Michigan Credit Union League President/CEO David Adams said.

  • Florida CFO Writes Matz In Support of MBL Hike

    The campaign by CUNA and state leagues to win wide lawmaker backing on member business loans drew support last week from an unexpected source-Florida's chief financial officer and a candidate for governor in the August primary.

  • Vantage Open to Mergers

    Southern Arizona's largest credit union, the $1.1 billion Vantage West of Tucson, this month completed the merger of a long-troubled Phoenix CU, and the Vantage management remains at the ready for new Southwest consolidations should they come along.



  • CUNA and NAFCU Ask Fed for Overdraft Changes

    CUNA and NAFCU want credit unions to be able to charge a fee for covering an overdraft fee in some cases even if the consumer doesn't opt in for such coverage, according to letters both trades sent to the Federal Reserve.

  • NCUA Grants

    The NCUA's Community Development Revolving Loan Fund is offering eight kinds of grants to help credit unions that serve low-income communities finance some of their activities.

  • New Points on How NCUA Examiners Will Evaluate Risk

    NCUA examiners will look at items such as the level and nature of inherent balance sheet risks, management expertise and adequacy of reserves allocated, when doing examinations of credit unions.

  • NAFCU on NCUSIF Equity Ratio

    Citing a large number of its members that will be negatively affected if this year's assessments are above 20 basis points,

Tech Bytes

  • CRI Adds Wycom Signature

    Credit unions using CRI Solutions Inc.'s loan origination platform can now deploy the widely used digital and Web signing solutions from Wycom Systems Inc.

  • CUSO Offers 'White Hat' Credit Reports

    Free credit reports and scores to qualifying users of a CUSO's loan rate-matching service allows credit unions to "wear the white hat" when it comes to offering free credit reports, the company's president said.

  • Fiserv Adds Bill Pay Widget

    A new bill pay widget just launched by Fiserv Inc. will enable millions of consumers to pay bills online without leaving their credit union or bank home page.

  • Synergent Offers Capture Service

    Three Maine credit unions are piloting the launch of Synergent's new member capture service, a browser-based application that integrates with most current flatbed scanners to allow users to deposit checks electronically.

Editor-in-Chief's Column

  • Corporate Credit Union Fallout: Gimme Shelter

    This isn't a rehashing of the corporate credit unions' problems or legacy assets or placing blame. We'll learn about the agency's plans for the legacy assets soon enough (though it has been some time coming). This is about the discovery of next steps.

Letters to the editor

  • Overdrafts Can Be Consumer Friendly

    Bank of America announced last month that in June it will stop authorizing overdrafts at ATMs and for everyday debit card purchases unless a customer has a linked savings account or credit card.

  • The Member-Owned Myth

    The March 31 Editor-in-Chief's column was a very gutsy and provocative piece. While I am not sure I agree with all of it, there are many issues raised that are critical for credit unions to address.


Staking Out the Stats

  • Staking Out The Stats

    A NAFCU Data Flash report showed that vehicles sales in March demonstrated the strongest sales pace since last August.

Focus Report



    Dexter Credit Union, Central Falls, R.I., announced the naming of Richard E. Smith as the new president/CEO

Billlionaires Club



    Andrews Federal Credit Union. Suitland, Md., celebrated the grand opening of its newly redesigned branch in Wiesbaden, Germany.

  • Genisys Offers Check-Ups

    At Genisys Credit Union, a financial fitness program all begins with regular check-ups, so the Auburn Hills, Mich.-based credit union is offering locals free credit reviews with experts.

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