Credit Union Times Magazine April-28, 2010

Front Page News


News Briefs

  • Cheryl Davis, CEO At Smart, to Retire

    After 46 years of service, Smart Financial Resources President/CEO Cheryl Davis will retire.

  • New Charter Formed In Washington State

    A credit union marketing firm in Washington State is helping organize the first new CU in seven years to be located on one of Seattle's commuter islands in Puget Sound.

  • Montana Head Teller Faces House Primary

    Kathy Keenan-Swanson, the head teller at the $91 million Southwest Montana Federal Credit Union of Anaconda, is preparing to face her first test in her pursuit of a House seat in the Montana legislature.

  • 450 Turn Out for Home for Troops

    In the latest industry show of support for Iraq-Afghanistan veterans, an estimated 450 Missouri credit union managers, volunteers and employees turned out recently for a build-a-home project on behalf of a badly injured U.S. soldier.


    CRIF is the new owner of APPRO, the latest in its acquisition of American lending software and credit services operations.

  • Fed More Eager To Engage CUs

    Credit unions seem to be gaining new stature in the Federal Reserve system based on new overtures from at least one key district bank, CU officials reported.

  • Leading ACH Receivers

    Perhaps reflecting their primary roles as savings institutions, four credit unions were among the top fifty receivers of payments through the Automated Clearing House system, according to the Electronic Payments Coalition.




  • FinCen Encourages Electronic Filings

    Credit unions that wish to learn how to electronically file reports to comply with the Bank Secrecy Act can consult a new brochure from the Financial Crimes Enforcement Network.

  • NAFCU Survey Shows Interest in Serving the Underserved

    Credit unions don't want the added regulatory burden of complying with the Community Reinvestment Act, but 40% of those surveyed said they would add an underserved area to their field of membership if the law were changed to let them do so.

  • Trades Express Concern on CARD Act

    CUNA and NAFCU are concerned about the CARD Act's proposed fee structure and the requirement to reevaluate a card user's interest rates every six months.

Tech Bytes

Editor-in-Chief's Column

Letters to the editor


  • Making Dollars and Sense of Cooperation

    Perhaps one of the most impressive aspects of cooperatives is that they all apply set principles and values to fulfill their respective visions and missions.

  • Student Loan Bill Brings Opportunity

    The Student Aid and Fiscal Responsibility Act, which was included in the health care reconciliation bill that was enacted last month, directly impacts higher education financing programs guaranteed by the federal government.

Focus Report

  • NCUA Says Goldman Charges Will Not Affect Plans on Legacy Assets

    The Securities and Exchange Commission April 16 filed a civil suit against Goldman, Sachs & Co. and one of its vice presidents for defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages.

  • Goldman Contract Renewed

    The Trust for Credit Unions Mutual Fund Family renewed its annual contract with Goldman Sachs Asset Management, Callahan Financial Services announced April 13.


  • People

    Municipal Employees Credit Union, Baltimore, announced that Harry Deitchman, director emeritus, was inducted into the Credit Union Executive Society's director hall of fame.

Billlionaires Club

In Memoriam

  • Board Member Lumpkin Passes

    Community First Credit Union of Florida is mourning board member John Lumpkin, who died at the age of 58 from complications of pneumonia.


  • Branching Out

    Northern Star Credit Union, Portsmouth, Va., announced plans to hold a grand opening celebration at I.C. Norcom High School, one of two of its newest student credit unions.

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