Credit Union Times Magazine April 25, 2012

Speed Vows Not To Fade Away

By Robert McGarvey

Call Ed Speed, CEO of $1.8 billion Texas Dow Employees Credit Union in Lake Jackson, Texas, a maverick. That is a reputation he has won as he has pulled his institution out of credit union industry mainstays such as CUNA and the Texas league.

Telesis Prompts Many Questions

By Jim Rubenstein

Many unanswered questions continued to swirl last week over the causes, fate and future course of the conserved $318 million Telesis Community Credit Union.

CUs Link for Compliance

By Michelle A. Samaad

Like many of its peers, iQ Credit Union had grown overwhelmed in keeping up with the rapid pace and myriad regulatory changes.

Riding Used Car Wave, CUs Revive Residual Financing

By Michelle A. Samaad

With a year-long track record of strong portfolio performance, used car loans continue to rev up a turbo boost for many credit unions.

NCUA Pares Examiner Training Conference

By Heather Anderson

As House Committees investigate the General Services Administration Las Vegas conference scandal in Washington, the NCUA scaled back its annual examiner training conference in Orlando to a bare bones affair.

Communication, Preparation Vital to Shorter Charter Time

By David Morrison

Streamlining the charter origination process, improving communication among interested parties and preparing credit union organizers better for the challenge of launching a credit union are all part of what the NCUA and outside groups say will be needed to shorten the amount of time it takes to charter a new,...

Tips on Expected and Unexpected

By Myriam DiGiovanni

Credit unions have been taking creative approaches to delivering on members’ lifestyle needs. For example, Bellevue, Neb.-based SAC Federal Credit Union has unveiled its Baby Bundle Savings Plan.

Hampel Defends Cap Hike

By Heather Anderson

CUNA Chief Economist Bill Hampel has responded to a Fitch Wire article critical of raising the credit union member business lending cap that read like it came straight off a banker lobbyist talking points list.

Postage Hike Is On Deck

By Heather Anderson

As credit unions wait with bated breath for a Senate vote on raising the MBL cap, the chamber will likely first address changes to the United States Postal Service that could impact credit union budgets and compliance.

CSCU Recognizes Creative Marketing

By David Morrison

Credit unions using creative, cost-effective and innovative campaigns to successfully market their credit and debit cards will be recognized by Card Services for Credit Unions at the association's annual conference this week.

Merchant Lending Alliance

By Michelle A. Samaad

As credit unions continue to seek out more ways to generate income, the Pennsylvania Credit Union Association is hoping a new partnership will offer another solution.

Fears Aside, Boards Ease Into NCUA’s Literacy Rules

By Eileen Courter

When the NCUA announced financial literacy requirements for board members more than a year ago, the mandate sparked a lot of anxiety prompting credit unions to seek out help and understanding of the new rules.

The Cost of Transparency, Fiscal Responsibility

By Sarah Snell Cooke

A lot of the scuttlebutt around the industry over the last couple of weeks has been about transparency and fiscal responsibility. Take for instance, the NCUA’s announcement that it’s cutting back on spending for its examiner education conference in Florida.

Let’s See Banks Convert to CUs

I'm writing in response to the letter, "CU's Fundamental Injustice" by Paul G. Merski, executive vice president, Independent Community Bankers of America, in April 11 issue.

Liquidation Is the Worst Option

A board of directors has the option to merge, convert or liquidate the credit union. The option to liquidate was proposed by Bill Brooks as a good option that allows members to realize their ownership interest in the credit union, [Guest Opinion: “Merger or Convert? Consider a Third Option,” April...

Trade Groups Benefit All Credit Unions

I read “The Trades: Near Death Reports Disputed” [page 1] in the March 21 issue and would like to comment.

Horrified By Photo

I received the current CU times today and was horrified when I saw the front page picture that was related to Telesis Credit Union. [April 4 issue, page 1.]

Corporate Debacle Redux?

Barely three years ago, an entire industry teetered on the brink of financial collapse as four corporate credit unions, US Central, Wescorp, Members United, and Southwest Corporate reported massive losses in their investment portfolios, losses that not only would eradicate their capital but threaten the uninsured shares and daily operations...

Home Preservation Onus Is on Servicers

The recent thaw in state foreclosure actions has added to the millions of vacant, foreclosed properties already on the market. Since September 2008, mortgage companies and banks have foreclosed on 3.3 million homes and in just the last year, more than 860,000 have been lost to foreclosure–fully half in five...

10 Tips for Taking Boards From Yuck to Yeah

I work with a lot of credit unions and their volunteer boards of directors. Volunteers can be an asset and a liability to any organization. When the role of the volunteer is clearly defined and followed, the volunteer has a better chance of benefiting the credit union. If the roles...

Coastway Bank Forms Holding Company

The former Rhode Island credit union, which converted to the $357 million Coastway Community Bank in 2009, is moving ahead with forming a mutual holding company, raising speculation it might eventually lead to a stock structure.

Dover FCU Says It’s No. 1 in Delaware

Dover Federal Credit Union recently announced that it has become the first credit union in Delaware to exceed $350 million in assets, closing out its books in March of this year with a total assets in excess of $363 million.

Minge Joins Texas Board

Jim Minge, president of the $726 million Texas Trust Credit Union, was elected to the board of directors of the Texas Credit Union League. He is one of 12 new board members who will take office April 18 upon conclusion of the league's annual meeting in Galveston.

NAFCU Names Chief Economist

NAFCU President/CEO Fred Becker last week announced David Carrier will be NAFCU’s new chief economist and director of research, effective April 30.

Europeans Visit Clackamas FCU

Financial experts and policy advisers serving nine European Union countries visited Clackamas Federal Credit Union as part of a multicity fact finding tour of U.S. financial markets. The delegation wanted to explore the differences between banks and credit unions and how credit unions navigated the global financial crisis.

Lending Honors for Alaska USA

Alaska USA Federal Credit Union has been recognized as the No. 1 lending institution in 2011 for the U.S. Small Business Administration’s 504 loan program by Evergreen Business Capital.

Durbin Windfall for Gas Stations

Rather than pass debit interchange savings from the Durbin Amendment on to consumers, gasoline retailers are pocketing the difference, according to the Electronic Payments Coalition.