Credit Union Times Magazine April-22, 2009

Georgia Federal's Ad Blitz Hits On the Retreat in Bank Lending

By Jim Rubenstein

With heavy attention focused on the banking industry's loan pullback, the $540 million Georgia Federal Credit Union decided now is the ideal time to unleash a "humorous but serious" newspaper and billboard pushing mortgages.

Systemic Risk Authority Debate Is Key to Restructuring Battle

By Claude R. Marx

The FDIC has it and the NCUA wants it. Congress wants to give one regulatory agency a lot of power to do it.

Group of Large CUs Recommends Major Consolidation of the Corporate System

By Heather Anderson

Twelve members of Members Gateway, an Indiana-based innovation CUSO, has advised the NCUA to perform a complete overhaul of the corporate system.

U.S. Central, WesCorp Portfolio Summaries Show a Growth in Risk

By Heather Anderson

The NCUA's April 10 corporate credit union update included a summary of its analysis of distressed securities held by U.S. Central FCU and Western Corporate FCU.

CUs Merge

By Lindsey Siegriest

The merger of two St. Paul, Minn., credit unions, Fort Snelling Federal Credit Union and Hiway Federal Credit Union became official at the beginning of April.

CU Business Capital CUs Commit $45 Million to Green Products, New Jobs

By Michelle A. Samaad

Hoping to do their part to push forward one of President Barack Obama's goals of creating more jobs and green products and services,

CUSOs Form Alliance to Expand Participations

By Michelle A. Samaad

A joint marketing deal has been agreed upon by the Credit Union Acceptance Co. LLC and CU Business Capital LLC.

Texans CU Names Sauer New CEO

By Michelle A. Samaad

After serving in an interim role since January, Michael Sauer has been named the new president/CEO of $1.8 billion Texans Credit Union, effective immediately.

Open Solutions: After a Whole Lotta Tryin', We're Movin' on Up

By Marc Rapport

A couple years after deciding to reinvent his company in a remake that "really tested some loyalties," Louis Hernandez Jr. said he thinks Open Solutions Inc. is firmly poised to help his clients-new and old-move ahead.

Tired of Day-Old Image, First Citizens' Shows Off 'Think First' Rebranding

By Jim Rubenstein

Deciding its logo, tagline and even colors were getting stale and lacked appeal to young people

Solutions in Finance Gives CUs a Collections Check-Up

By Lindsey Siegriest

With the unemployment rate the highest in 25 years, a financial institution's collections department has become the most important department,

Credit Unions Sleepy? Unexciting? Two Young Execs Beg to Differ

By Eileen Courter

The Wall Street Journal may have described credit unions as occupying "the sleepiest

North Coast Bailout Ads Bring Positive Response

By Jim Rubenstein

When the $122 million North Coast Credit Union of Bellingham, Wash., ran its "bailouts are for boats" ads,

Financial Planning a Drain on Time for Some Advisers, Study Finds

By Michelle A. Samaad

Nearly half of advisers surveyed in a new Aite Group report admitted that offering financial planning as a service to their clients is not as important as other uses of their time.

University Report Says Cooperatives Have Wide-Ranging Impact

By Claude R. Marx

Cooperatives create millions of jobs and billions of dollars in revenue.

Polish and Slavic Opens Sixth N.J. Branch for Members Who've Scattered

By David Morrison

The $1.2 billion Polish and Slavic Federal Credit Union has opened its sixth branch in New Jersey as the Brooklyn-based credit union seeks to keep up with members moving out of the area.

Filene Reports On Mortgages

By Lindsey Siegriest

The Filene Research Institute released a brief that shines some light on mortgage practices over the past few years.

Boutelle Urges CUs to Be Aggressive in Seeking Loan Business

By Claude R. Marx

ARLINGTON, Va. -- A sluggish economy is an ideal time for credit unions to increase their automobile loan portfolios by adapting aggressive but sensible practices,

Feds Move on Mortgage Scam Crack-Down

Saying that there are too many firms taking advantage of financially vulnerable individuals,

Corporates Downgraded

Moody's Investors Service downgraded the short-term debt ratings of four corporate credit unions to Prime-3 from Prime-1.

Market Hiccups Position Mid-Atlantic FCU for Top Lending Ranking

By Michelle A. Samaad

In the tightly competitive District of Columbia business lending market, Mid-Atlantic Federal Credit Union is poised to become the second largest player in the metropolitan area.

Payday Loan Friends and Foes Debate Federal Legislation

By David Morrison

Payday lenders are attacking a piece of federal legislation aimed at protecting consumers from their product by noting overdraft protection plans do not face similar regulations.

Oregon CU Hires CEO

Kent White will become the new president/CEO of $90 million Oregon Employees Federal Credit Union effective May 26.

Convincing Young Adults to Stake Retirement Plans Is a Hard Sell

By Michelle A. Samaad

When it comes to retirement products, young adults typically don't buy them in large numbers and Generation Y is no exception.

S. Fla. Educational FCU Expands Gen Y Reach During Literacy Month

By Lindsey Siegriest

South Florida Educational Federal Credit Union reached out to 3,000 students and potential members during this past month as part of its financial literacy month initiative.

North Shore Freshens Site

By Lindsey Siegriest

North Shore Federal Credit Union has enlisted the help of AgilityWeb to connect with younger members.

Brn btw 8t-Y2K, we # 70m tuff. Wr lkn4 d ryt $fi 2 pRtnR w. Cn u hlp us ot?

If you can't understand the sentence above, chances are you are not a member of Generation Y. The translation appears below,

Succession Planning: Not Just for CEO's Anymore

When a credit union's leadership changes, continuity in experience and knowledge become critical factors for success-that's why succession planning has become such a powerful executive tool

Complacency Is Thine Enemy

By Sarah Snell Cooke

We all have dozens of balls in the air all the time, and each time one is handled-or slips from our grasp-a new one pops up.

Grassley Deserves Condemnation

Once again we use a credit union publication to promote an individual because Sen. Charles Grassley (R-Iowa) is on the right committee in the

From the Editor: Keep Those Letters Coming!

Credit Union Times has a goal for 2009 to include Letters to the Editor in nearly every, if not all, issues. We had letters in nearly every issue of 2008.

LOOKING BACK

Over the past few months, the downturn in the economy has exposed quite a few scams and scandals.

Why Credit Cards Are the Next Growth Opportunity for Many Credit Unions

Successful businesses find growth opportunities in down economic times.

PEOPLE

Grow Financial Federal Credit Union, Tampa, Fla., announced that Jeff Merwin has joined the credit union as vice president/retail operations.

2009 VENDOR CALENDAR OF MEETINGS AND EVENTS

April 2009 April 23-26 2009 CSCU Annual Meeting Harbor Beach Marriott Resort & Spa, Ft. Lauderdale, Fla. For more info: 888-930-CSCU or info@cscu.net