Credit Union Times Magazine April 18, 2012

Featured Story

  • Alloya, CenCorp Intend to Go Big

    Go big or go home. Those five words outline exactly what is happening with the proposed merger of $1.8 billion Warrenville, Ill.-based Alloya with $1.5 billion Southfield. Mich.-based CenCorp. It’s a marriage of corporate credit unions that, if approved by CenCorp members and regulators, will produce an entity with assets...

Front Page News


  • Loan Participation Underwriting May Expose Exam Weakness

    For some credit unions, being able to get in a car and drive to a piece of commercial real estate that a member is trying to secure financing for is a pivotal part of the lending process. Scoping out the area where that strip mall or office building is located...

  • Student Lending Engenders No Bank-CU Battle

    Credit unions and community banks have traditionally stood as direct competitors, vying for the attention of similar types of consumers. But in the private student lending market, a fierce face-off between the two is not expected, several experts say.

  • Summit CU Offers Oodles of Cooperative Values

    Summit Credit Union members have got oodles to be thrilled about. With an eye on reinforcing its value to its members and the communities served, the Madison, Wis.-based credit union has launched Oodles, a membership rewards program.

  • Empowering the Next Generation of Entrepreneurs

    Has your credit union invested in and nurtured the next generation of entrepreneurs? Operation HOPE and Gallup have joined forces to gauge young consumers’ attitudes about entrepreneurship and financial literacy as a way to help gain insight into how they envision their economic future.

  • Bankers Form a New Super PAC

    Former credit union lobbyist Marvin Umholtz said the industry shouldn’t fear a new banker super PAC, saying the Friends of Traditional Banking PAC, will function “more like a scalpel than a battle axe.”

  • Savings Program Launched With Filene Backing

    The industry push to promote improved savings behavior among consumers while also drawing new business was ratcheted up with a pilot initiative involving 20 credit unions and sponsored by Filene Research Institute and SaveUp, a fledgling San Francisco firm.

News Briefs

  • CFPB Reg Threatens to Kill CU Transfer Remittances

    The Consumer Financial Protection Bureau’s proposed remittance regulations could force credit unions to stop providing the service, said CUNA and NAFCU in letters submitted to CFPB Executive Secretary Monica Jackson.

  • Telesis Management Taken Over by Premier America

    The $1.3 billion Premier America Credit Union has contracted with the NCUA to manage the assets of the seized $318 million Telesis Community Credit Union. Both credit unions are based in Chatsworth, Calif.

  • Russ Plunkett Named to Credit Union House Hall of Leaders

    Russ Plunkett, president/CEO of Postal Credit Union, Woodbury, Minn., has been inducted into the 2012 Credit Union House Hall of Leaders. Plunkett was among 13 credit union leaders honored by Credit Union House LLC at its annual meeting last month in Washington, D.C.

  • Interra CU and Member Both Toast to Their 80th Year

    As Interra Credit Union celebrates its 80th anniversary this year, it also celebrates an 80-year member, Harriet Kruse, the longest tenured living member. In many ways, the credit union and Harriet have grown up together.

  • Gordon Edmonds, Leominster CU CEO, to Retire

    Leominster Credit Union announced that Gordon R. Edmonds, president/CEO, will retire on Sept. 30. Edmonds joined Leominster Credit Union in 2001 as senior vice president of lending. He was appointed president/CEO in June 2007.

  • Kinecta FCU Picks Keith Sultemeier as New CEO

    A few weeks after its merger plans were scuttled, the $3.1 billion Kinecta Federal Credit Union in Manhattan Beach, Calif., has named Keith Sultemeier as its president/CEO.

  • Wachovia Files to Dismiss in NCUA Mortgage Securities Case

    Lawyers for Wachovia Capital Markets filed documents in Kansas City Federal Court asking the court to dismiss NCUA’s securities fraud case against the firm now owned by Wells Fargo. Central to Wachovia’s argument is a question that has haunted the NCUA ever since the collapse of U.S. Central FCU: Why...

Editor-in-Chief's Column

  • Editor’s Column: Around the CU World

    The trades last week came out against principal forgiveness, an idea floated by Federal Housing Finance Agency Director Edward DeMarco. Political observers, however, noted that he has long been opposed to debt forgiveness and may be simply responding to consistent pressure from the Democratic Party.

People Feature

Letters to the editor

  • Service Means Access

    In my opinion, one of the great differentiators for credit unions is access. On the surface, most folks in our communities probably would not agree with this. After all, doesn’t a person have to belong to something or work somewhere special to be a part of a credit union? Whether...


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