Credit Union Times Magazine August 10, 2011
Featured Story
CU Taxes a Target for New Budget Panel?
Credit unions dodged a taxation bullet with the latest spending reduction package, but it remains to be seen how long their luck will hold.
Featured Story
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Prepayment Plan Sleeps With the Fishes
Saying it only received $369.9 million in pledges, the NCUA announced last week that it will not go forward with the program allowing credit unions to prepay some of their assessments on the cost of
Front Page News
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MBL Risks Are Assessed Even Before the Exam Begins
PORTLAND, Ore. — When a loan officer was arrested and charged with participating in a business loan kickback scheme that ultimately led to AEA Federal Credit Union’s conservatorship in December 2010, the cooperative’s outcome looked bleak.
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Business Credit Card Offered by TMG
TMG Financial Services, the agent issuing card arm of The Members Group, a payments CUSO affiliated with the Iowa Credit Union League, said that 19 credit unions have opted to begin offering business credit cards through an agent issuing relationship with the organization.
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Morris to Leave NAFCU
NAFCU Senior Vice President Senior Vice President of Marketing and Communications Jay Morris announced he will leave his post this fall after an 11-year tenure at the trade association.
News
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Gripes Against NCUA Continue at the Grassroots
Two ad hoc industry groups, one in Michigan and the other in Tennessee, that have been among the most vocal in lambasting NCUA policies on corporates, salaries and compliance all year, held firm in their critical stands again last week. And they issued new complaints.
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FICO Says It Offers Card Marketing Flexibility
A new service from FICO will offer credit card issuing credit unions greater and faster flexibility in their card offering and marketing decisions, the firm said.
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Crash Networkers Take on Affordable Home Ownership
In just ten weeks, the Filene Research Institute and the Crash Network have developed an innovative program designed to help credit unions increase the availability of affordable home ownership.
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Serving the Underserved: Latino Community CU Held as a Model
The Durham, N.C.-based credit union was recently featured in the University of Virginia’s Darden School of Business and Tayloe Murphy Center study, “Perdido en la Traduccion: The Opportunity in Financial Services for Latinos,” as a base model of the positive effects of mainstream financial services on the unbanked.
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CU 24 Re-Elects Chairman Guerry
Credit Union 24's board of directors has chosen to remain under the leadership of Mansel Guerry for a fourth term. Guerry has served as chairman of the credit union-owned ATM and POS network since 1998.
Editor-in-Chief's Column
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Thought I Was Wrong But I Was Mistaken
No one is infallible and mistakes happen. Some are out of laziness or lack of knowledge. Some people are burning the candle at both ends and unable to think clearly. Some are just plain accidents. The jerk that just cut you off on the freeway may have a blind spot....
On-Site Conference Coverage
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MBL Approaches Are Unique at Two Calif. CUs
PORTLAND, Ore. — When the business lending slump was at its peak a few years ago, entrepreneurs who were working with Redwood Credit Union and Orange County’s Credit Union were likely immune to the collapse.
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CU Business Group Seeks Route to Sustained Growth
PORTLAND, Ore. — During a recent afternoon session on working with government agency loan programs, as two speakers acknowledged that there can be a corn maze of forms, deadlines and updates, someone in the back of the room felt compelled to interrupt.
CEO's Corner
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CEOs Plan Retirement but No Shuffleboard
Sharon Custer may ditch her watch. Rob Givens wants to explore Civil War sites. Mike Phipps would like more fellow CEOs to share retirement information.
Tech Bytes
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Computer Marketing Corp. Boosts ACH in FLEX
Computer Marketing Corp. said it is adding integrated share draft processing to the ACH capabilities of its FLEX core processing platform.
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Vertifi Software Hits $1 Billion in RDC
Vertifi Software LLC said it has now processed more than $1 billion in remote deposits since Eastern Corporate Federal Credit Union’s technology arm was launched in 2009.
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TMG Gains Two CUs
Two credit unions that had previously sold their portfolios to agent issuers are replacing national bank issuer contracts as they expire, they said.
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Fiserv Lands Randolph-Brooks
Fiserv Inc. said the $4.3 billion Randolph-Brooks Federal Credit Union in Live Oak, Texas, has committed to the Wisconsin-based company’s new Acumen account processing solution.
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TruWest CU Adds Mobile Administrators Security
A new solution to allow mobile administrators to securely view email attachments has been deployed at the $783 million TruWest Credit Union in Tempe, Ariz.
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PSCU Marks Member Service Growth
Eleven credit unions have signed up for contact center service from PSCU Financial Services and its customized member service work has grown by 11% so far this year, the St. Petersburg, Fla., CUSO said.
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Symitar Offers Hosted Disaster Recovery Site
Buried 175 feet under Branson, Mo., is “the Mountain,” the nickname of a disaster recovery hot site that Symitar is now offering as a host to its 700 client credit unions.
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Zix Corp. Installs Encryption at Mid-Atlantic Corporate
An email encryption service from Zix Corp. will be deployed by Mid-Atlantic Corporate Federal Credit Union.
Opinion
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Guest Opinion: Ed Speed Begs to Differ on Trades and Taxes
Trade association executives utilize ongoing, galvanizing issues to keep their constituencies riled up, to keep money rolling in, to insure attendance at conferences and to get credit union volunteers to hike their hills. Our fears ensure their job security. All trade associations do this, not just ours.
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Guest Opinion: CUSOs Are Still Essential
In the 15 years or so prior to his retirement, former NCUA Chairman and Patelco Credit Union President/CEO Ed Callahan probably told me at least 100 times that if one or more credit unions can work together to bring better delivery channels, services or prices to their members then they...
News Briefs
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Visa Details Price Change
As many credit unions across the country have begun to reevaluate their PIN debit networks in light of the Durbin amendment, it appears the largest card brand is also rethinking its debit pricing.
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Social Media Advice from BITS
A new report on social media includes listings of laws and some practical advice when it comes to dealing with the new communications channels.
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WOCCU Gains Gambia as Member
The World Council of Credit Unions gained a member and lost a leader at its annual conference in Glasgow, Scotland.
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Dakotas League Unveils New Logo
A new logo has now joined the new name for the league representing the Dakotas’ credit unions.
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Student Choice Now Has 200 CUs
Student loan vendor Credit Union Student Choice said its services are now in use at 200 credit unions.
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MECU Members Get $2 Million Bonus
The 99,000 members of the $1.1 billion MECU of Baltimore were paid a total of $2 million by their credit union at the end of June, the 30th straight year for such cash bonuses.
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Utah CU Loses Ex-Chairman, Two Former Directors
The $5 billion America First Credit Union of Ogden, Utah is mourning the loss of its former chairman, Richard Miller, and two of its former directors.
Focus Report
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Tech CUSOs May Open Door to New Legal Issues
With the NCUA turning up the heat on monitoring how CUSOs are conducting their operations, another area could be ripe for more scrutiny.
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Jack Antonini Embraces CUSO Competition and Innovation
As Jack Antonini approaches the one-year mark since taking the helm at the National Association of Credit Union Services Organizations, the former bank CEO marveled at the number of collaborations CUSOs frequently engage in.
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London’s Collaborative Model Calls for ‘Radical Change’
While credit union membership in London has grown more than 90% since 2005, there are concerns that reaching more low- and moderate-income residents who really need affordable financial services has been inadequate.
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CUSO Investments Continue to Rise
It may be no surprise that the number of credit unions that have investments in CUSOs have grown over the last five years.
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