Credit Union Times Magazine August-19, 2009
Featured Story
Florida League Online Auction Showcases Best Product Bids for CUs
As credit unions continue to look for ways to cut costs, some are taking a harder look at their vendor relationships to negotiate better pricing deals
Front Page News
-
Credit Unions Say Federal Mortgage Modification Program Shows Promise
Two of the six credit unions that have enrolled in a U.S. Treasury program designed to help homeowners avoid foreclosure say that the program, while promising, will not be the last word on their effort to help members keep their homes.
-
Matz Faces Range of Challenges Following Senate Confirmation
Following Senate confirmation by unanimous consent, Deborah Matz faces a large and complicated list of challenges as chair of the NCUA at a critical time for the credit union movement.
-
NCUA Closes Nevada Credit Union
The NCUA closed Community One FCU of Las Vegas, and its assets and shares were purchased by America First FCU.
-
Experts, CEOs Say Exec Compensation Measure Not Likely to Have Huge Impact
A short-term annoyance but not a huge burden in the grand scheme of things.
-
CUSO UBIT Continues to Bob in Murky Waters as IRS Presses On
State-chartered credit unions with CUSOs are still waiting for more guidance on if income earned through their subsidiaries would be subject to unrelated business income tax.
-
Dismissed MSCU Board and CEO Go to Court to Fight State Conservatorship
Dismissed CEO Dale Dalbey, Chairman Barbara R. Luckett and board members of the $194 million Mutual Savings Credit Union have filed an injunction
News
-
Pa. ATM Disclosure Case Is Winding Through Courts
Some movement has occurred in the lawsuit regarding the Pennsylvania federal credit union being sued for allegedly not labeling its ATMs with the required fee notices.
-
Concentration Risk Policy and 1999 PIC I Decision Spared RUDE
As of June 30, U.S. Central Federal Credit Union's investment losses have burned through nearly $2 billion in member capital, and it shows on retail corporate balance sheets.
-
Vancity Credit Union Shutters Online Loan Service
Unable to achieve scale, the $14.5 billion Vancity Credit Union said it has sold the majority of its retail loans offered through its online banking division after the service failed to take off.
-
CIT Stops Dividends
Small business lender CIT Group Inc. recently announced that it will suspend dividend payments on some of its stock to improve liquidity, preserve capital and thwart bankruptcy.
-
CUSO Readies XCalibur Card for Testing Among CU Employees, Board Members
Nearly six years in the making, the final prototype of a biometrically enhanced card designed to combat fraud before it occurs is set for a test-run among several credit unions this fall.
-
WPCCU Goes With PSCU for PIN Debit
The $480 million Water and Power Community Credit Union, headquartered in Los Angeles, has moved
-
Watching Fed Chairman Bernanke as He Works Overtime to Dampen the Panic
In normal times, the behind-the-scenes workings of the Federal Reserve might not have the makings of a drama-filled novel-like book.
-
GAO Finds SBA Halfway There on Improving Disaster Loan Program
Four years after the SBA was widely criticized for how it handled the processing of disaster relief loans following Hurricane Katrina in 2005,
-
Oregon CU CEO Urges Congress to Rethink MBL Cap
Speaking at an Aug. 4 hearing before the U.S. House Subcommittee on Finance and Tax, OSU Federal Credit Union CEO Rick Hein told legislators
-
USC CU Preferred Lender
The SBA's preferred lender program has added the $315 million USC Credit Union to its ranks.
-
Corp Central Closes PIC
Corporate Central Credit Union closed its PIC-50 offering July 31 with more than $47 million converted to PIC from member capital shares.
-
Financial Strain Is Transforming CU Leagues' Grassroots Activism
From Maine to Texas, the financial crisis and the corporate shocks buffeting credit unions have given rise to innovative approaches
-
North Jersey FCU Creates Bargain Exchange to Boost Local Business
The $166 million North Jersey Federal Credit Union has come up with a way to boost the local business economy and offer members a variety of perks.
-
J.D. Study Finds That Image Matters
Opportunity is knocking for credit unions as a recent J.D. Power and Associates study reveals that brand image matters most to consumers when selecting a retail bank.
-
First Iowa CU IDA Saver Closes on Home
The first member of an Iowa credit union to save for a home through an individual development account has closed on her first home.
News Briefs
-
Two Ariz. CUs Pick CEOs
New CEOs have taken the helm at two of Arizona's largest credit unions, the $507 million First CU of Chandler and the $420 million Arizona Central of Phoenix.
Departments
-
Donations
Mid-Atlantic Corporate Federal Credit Union, Middletown, Pa., raised more than $10,500 for the Children's Miracle Network at its annual charity golf tournament.
Marketing
-
CU's Marketing Unit Becomes Department of Brand Innovation
Searching for a more realistic definition, the $210 million City Credit Union of Dallas has renamed marketing as the brand innovation department.
-
Verity CU Spots a New Niche and Seeks a Virtual Mother of Invention
It's not just Gen Y that likes to engage online, so Verity Credit Union has issued a call to all moms.
-
Bank Failures Are Sparking CU Safety Ads
Bank failures and media coverage of them have led credit unions to renew their safety and soundness marketing campaigns.
-
Kids Become Focus of Carolina Marketing Forum
The annual East Coast Credit Union Marketing Conference, sponsored by the North Carolina and Virginia Credit Union Leagues next month, has set its sole focus on Gen Y and youth programs.
Tech Bytes
-
Border FCU Adopts Branch Capture and Imaging Tools
A $93 million Texas credit union is the latest to deploy integrated branch capture and document imaging from Integrated Bank Technology.
-
CU*Answers Partners With Cash Handler
The 165 credit unions that run on CU*BASE core processing platform can now use the cash automation solutions of Talaris.
-
Airlines CU Offers PFM
American Airlines Credit Union will begin offering its 212,000 members
Special Report
-
Working With Firms Not Linked to Credit Unions Has Its Pitfalls
To say putting together a split-dollar plan for two of BMI Federal Credit Union's top executives was a frustratingly drawn-out ordeal would be putting it mildly.
-
Mazuma CU Welcomes Payday Loan Users From All Walks of Life
With a range of emergency requests, government and IRS employees are among the highest users of Mazuma Credit Union's two-year old payday loan alternative.
Editor-in-Chief's Column
-
The Second Half of PR: Relations
Every day, Credit Union Times staff tries to put itself in our readers' shoes.
Opinion
-
The State Credit Union System: Strong Past, Stronger Future
This year is a milestone time for the state credit union system.
-
Is Your Credit Union Safe and Sound? And Slowly Dying?
Has your credit union consistently received a CAMEL 1 or 2 rating from your regulator?
Quotes Worth Quoting
-
QUOTES WORTH QUOTING
"Credit unions have survived difficult economic periods and stressful conditions
People
-
People
EAST Teachers Federal Credit Union, Farmingville, N.Y., named Bob McAllister to the position of assistant vice president of indirect auto financing.
In Memoriam
-
Former N.Y. League Chairman Kucera Passes
The Credit Union Association of New York is mourning the loss of former chairman Miles Kucera who was recently killed in a fatal car crash on Long Island. He was 78 years old.
Other
-
Corrections
An article in the Aug. 12 issue
Resource Center
View All »
Measure and Monitor the Risks and Opportunities in Loan Portfolios
Get a complimentary demo of our loan portfolio analytics and access to the white paper,...
