Credit Union Times Magazine August-11, 2010

All Hands on Deck to Shore Up NCUSIF

By Claude R. Marx

Credit unions are bracing to dig even deeper into their pockets. An increase in CAMEL 3, 4 and 5 credit unions and more credit union closings are causing strains on the NCUSIF.The fund's equity ratio is 1.21% assuming all credit

NACUSO CEO to Leave Post in December

By Michelle A. Samaad

Tom Davis, a venerable fixture at NACUSO for two decades, is ready to pass the baton.

Switching to a Community Charter Does Not Mean They Will Come

By Joyce Moed

Throughout the past 10 years, many vendors and CUSOs have witnessed credit unions convert from SEG-based charters to community-charters.

Navy Federal Is Sending Team to Discuss USA Federal Merger

By Jim Rubenstein

The world's largest credit union, the $40 billion Navy Federal Credit Union, confirmed last week its interest in acquiring the ailing $634 million USA Federal Credit Union of San Diego.

NCUA and Other Agencies Gear Up for Dodd-Frank Act Enforcement

By Claude R. Marx

The Consumer Financial Protection Bureau probably won't be up and running until early next year, but the NCUA, other agencies and the credit union trade associations are already starting to gear up.

Business Loans, More Auxiliary Groups Next Goals for REALTORS FCU

By Michelle A. Samaad

There are still several goals REALTORS Federal Credit Union plans to move forward with a few weeks after Tom Glatt, its former president/CEO, stunned some in the industry with the announcement that he would be leaving the fledgling cooperative.

Smith Runs for CUNA Via the Web

Maurice Smith, the president/CEO of the $1 billion Local Government Federal Credit Union of Raleigh, N.C., has built his own website that promotes his candidacy for a seat on the 2011 CUNA board of directors.

Okla. League CEO Debra Ingram Is Out

By Jim Rubenstein

The Credit Union Association of Oklahoma is out looking for a new president/CEO following the sudden departure of Debra J. Ingram, its top manager since 2008.

Corporate America's Legacy Asset Solution Is Liquidation

By Heather Anderson

Corporate America Credit Union President/CEO Thomas Bonds expects to sell the last of his private-label mortgage-backed

Corp. Central to NCUA: Bring It On

Corporate Central Credit Union is ready for the NCUA's proposed corporate regulations. The $1.9 billion wholesale

Quick, Coordinated Response by AFTRA-SAG FCU and SEGs Foils Scammers

By Eileen Courter

When scam artists hit AFTRA-SAG Federal Credit Union, the credit union immediately counterattacked on a wide front.

SIGNiX and IDology Partner to Help Fight Fraud

Digital signature provider SIGNiX and technology solution provider IDology have partnered together to help financial institutions combat fraud.

TMG Adds Fraud Risk Manager

The Members Group has announced that it has added a Visa risk manager to its fraud protection services.

Super Bowl Champion Quarterback Brees Ties His Trials to His Triumphs

By Claude R. Marx

When most teams win a championship their fans celebrate for a brief period afterward and the psychological impact on their hometowns is fleeting. That's not the case with the New Orleans Saints' Super Bowl victory earlier this year.

Bank of America Provides $10 Million Grants for Small Businesses

Nonprofit lenders have another source to aid small and rural businesses through a new $10 million grant program from the Bank of America.

Connecticut League Maps a 'Completely Free' Education Series for CUs

The Connecticut Credit Union League is bent on demonstrating the value of trade group membership by offering for free what

New Research Suggests Poor Consumers Subsidize the Wealthier Ones

By David Morrison

A controversial study from researchers affiliated with the Federal Reserve Bank of Boston suggests that lower income consumers who generally use more cash and debit cards subsidize the credit card use and rewards of wealthier consumers.

Golden 1 Names Bland Interim CEO, Halts Search

The $7 billion The Golden 1 Credit Union has selected Senior Vice President and Chief Financial Officer Donna Bland to

Poll Finds 26% Will Opt In to Overdraft

The National Foundation for Credit Counseling released poll findings that indicated that 26% of those polled intend to opt in to overdraft protection.

NAFCU and Affinion Offering Fraud PSAs

NAFCU and Affinion Security Center have released two customizable public service announcement videos on tips for preventing identity theft and fraud.

Wis. League Continues To Call Out Bankers

The banking industry's push to stonewall attempts to attach an amendment to a bill that would raise the member business lending cap continues to draw the ire of the Wisconsin Credit Union League.

Security Service FCU Completes Norbel Merger

The $5.6 billion Security Service Federal Credit Union of San Antonio has now completed its merger of the failed $130 million Norbel Credit Union of Fort Collins, Colo. in a transaction that followed an NCUA liquidation.

CU Members Targeted

Empower Federal Credit Union in Syracuse, N.Y., has sent out an alert about a new scam that is targeting its members.

Synergent Releases Time Saving ID Scan

Synergent has released an ID scanning tool that will allow credit unions to protect against fraud while being efficient.

App Surge and Smartphone Growth Set Stage for Mobile Banking Uptick

By Marc Rapport

While an estimated 90% of U.S. consumers use mobile phones, far fewer use them for banking. In fact, a Gartner report released in June said that out of the group studied, only 15% had used mobile banking in the past month.

Bluepoint Adds Mobile RDC to Check 21 Lineup

Bluepoint Solutions said it now is offering a mobile remote-deposit capture solution that will allow camera-equipped smartphones to be used to deposit checks.

New Entry Into Core Processing

A major player in the image processing market is branching out into core processing.

Credit Unions' Top Five Issues That Must Be Dealt With Now

By Sarah Snell Cooke

I speak to many credit union and vendor executives and enjoy a bird's eye view of the credit union industry at the national level, so I chose this week to share the top five challenges I see right now for credit unions.

Credit Unions Should Understand DORs Before Accepting

It was recently reported that 75% of all credit unions are under some form of administrative action from the NCUA.

Investment Restraints Will Be a Stealth Tax

Credit unions like many other leveraged institutions have experienced huge investment losses primarily with investment

People

Greylock Federal Credit Union, Pittsfield, Mass., announced the promotion of managers Matt Chaput, Janine Maschino and Victoria May. Chaput, who will

Donations

Financial Center, Indianapolis, has raised $26,267.93 for the American Red Cross, contributing to the Haiti earthquake relief effort. The funds will provide