Credit Union Times Magazine August 29, 2012

CEO Pay: How Much Is Right?

By Robert McGarvey

Call CEO pay the credit union governance hot potato. “This is certainly an increasingly hot topic,” said attorney Michael Lozoff, chair of the credit union practice at Shutts and Bowen in Miami.

Oklahoma Insulated From Coastal Economic Volatility

By Heather Anderson

Oklahoma’s credit unions face challenges that sound pretty familiar throughout the industry: compliance burdens, low investment returns, corporate assessments and a lackluster economy. But thankfully for credit unions in the Sooner State, the highs and lows of the real estate market experienced in other states isn’t part of that mix.

Political Conventions Have CU Trades Gearing Up

By Heather Anderson

Hospital playground dedications, the sponsorship of political panel events and casual meetings with legislators and delegates are on tap for CUNA and its Florida and North Carolina leagues as they work to promote credit unions and industry issues during the national Republican and Democratic conventions.

AM Community CU May Have Been Over Extended on MBL

By Michelle A. Samaad

Against a backdrop of a groundswell of support to expand business lending authority, one outcome is becoming an unfortunate black eye on those efforts.

CDFI Awards Seek to Make Big Impact on Underserved

By David Morrison

Money from the U.S. Treasury Department’s Community Development Financial Institutions Fund’s latest round of funding will help credit unions offer members alternatives to high cost payday and auto loans, improved savings options, financial education and loans to bring fresh food into neighborhoods that currently do not have any, according to...

Big Loan Fraud Felled New York Credit Union

By Heather Anderson

A bulletin released last week by the FBI revealed the reason the NCUA seized the $52 million Broome County Teachers FCU of Binghamton, N.Y., in June of 2011. Loan fraud.

Vermont ‘B’ Word Fight Likely to Be Protracted

By Jim Rubenstein

The Vermont showdown over whether a Montpelier credit union can keep on using “bank” and “banking” in its advertising appears headed a for a lengthy legal slog and perhaps compromise following the start of hearings last week by the state regulatory agency.

EMV Adoption Charge Is Led by Credit Unions

By David Morrison

As credit unions learn more about new technology, they are some of the institutions leading the nation in the issuance of payment cards that use embedded computer chips to validate identity and secure transactions.

Oregon Credit Union Directors Face Recall

By Jim Rubenstein

Oregon’s St. Helens Community Federal Credit Union is now facing a recall of five of its directors to be heard after the Labor Day weekend.

Editor’s Column: ’Tis the Season to Be Politically Minded

By Sarah Snell Cooke

I just spent a vacation in Virginia. The blaring, nonstop attacks of the candidates on each other were completely obnoxious. I couldn’t have been happier to return to Maryland, which is not considered a swing state in this election. During this season marked by expensive, negative and continuous campaign ads...

Women to Watch: CEO Schwartz Paints a Turnaround Canvas

By Myriam DiGiovanni

While the artist’s life was not for her, Debra Schwartz, president/CEO of San Diego-based Mission Federal Credit Union, has been quietly creating a masterpiece across the canvas of the credit union industry.

Guest Opinion: EMV Race Is On, Start Planning

By Bob Hackney

Recent announcements from Visa and MasterCard have set the stage for the U.S. implementing EMV/chip cards.

Guest Opinion: FASB’s Proposal on Liquidity and Rate Risk

By Michael Gagliardi

The Financial Accounting Standards Board recently released a proposed accounting standards update for financial instruments concerning new financial statement disclosures of liquidity risk and interest rate risk. The proposal is one portion of a joint project between FASB and the International Accounting Standards Board on the subject of accounting for...

Guest Opinion: Dual Regulatory System Works for Troubled CUs

By Debbie Matz

I disagree strongly with the premise behind the article, “Does NCUA Disdain the Dual System?” (Aug. 8 issue, page 1). It’s important to set the record straight.

VACU RDC Uptick

By Marc Rapport

More than 1,000 of the 219,700 members of the $2.3 billion Virginia Credit Union deposited a check using their smartphones in July, the Richmond, Va., credit union said.

McGraw-Hill FCU Offers iPad App

By Marc Rapport

The 20,000 members of the McGraw-Hill Federal Credit Union in East Windsor, N.J., are now being offered an iPad app for their mobile banking.

Genisys CU First in Mich. to Offer Mobile RDC

By Marc Rapport

The 132,000 members of the $1.4 billion Genisys Credit Union are the first in Michigan to be offered remote-deposit checking by smartphone, their credit union said.

Symitar Adds Marketplace

By Marc Rapport

Symitar is launching its own collaborative marketplace for credit unions to develop, share and sell their add-ons to the Episys core processing platform.

Hackers Hit and Then Move On

By Marc Rapport

A new survey found that hack attacks on small and medium-sized businesses are usually successful and that the money often is not recovered.

CUtopia Snags Two More CUs

By Marc Rapport

Two more credit unions have signed on as users of the OASys core processing platform from CUtopia, according to the division of Worldwide Interactive Services LLC in Orlando, Fla.

Layoffs in S.C. Prompts Greater Abbeville FCU to Action

The $12 million, 2,350-member Greater Abbeville Federal Credit Union in Abbeville, S.C., is reaching out to its members and nonmembers hit by the closing of the Mohawk Industries textile plant in nearby Calhoun Falls, S.C.

Defense Credit Unions Are Honored

Three defense credit unions were recognized with distinguished service awards by their respective branches of the armed services during the recent defense credit union’s annual conference.

Tower CEO Breland Named to NAFCU Board

NAFCU last week announced it had named Martin Breland, president/CEO of Tower Federal Credit Union, as Region II director on the NAFCU board of directors. Breland replaces retiring board member Charlie Thomas, who stepped down after his resignation as a member of the board of Mid-Atlantic Federal Credit Union.

Advantis CU Picks Bob Corwin as CEO

Bob Corwin will become the new president and CEO of the $930 million Advantis Credit Union of Milwaukie, Ore. on Oct. 15, the credit union said.

Micro Lending Challenges

As some credit unions continue to be the lifeline for microenterprises seeking out loans for less than $2,500, a number of challenges to meet their needs may still exist.

In Memoriam: Robert Neill, Calif. CU Vice Chairman

Robert Neill, vice chairman of the Christian Community Credit Union board of directors, passed away on Aug. 4 after a long battle with cancer. He leaves behind his wife, Sue, three daughters and their husbands, seven grandchildren and another grandchild due in September. He was 66 years old.

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