Credit Union Times Magazine August 31, 2011

Deposit Rates Could Turn Negative in This Bizarro World

By David Morrison

Forget the debate over whether or not a credit union should keep offering free checking accounts, there are signs credit unions may eventually have to decide whether or not to charge their members fees for holding deposits.

Congress Will Again Take Up Business Lending, Consumer Bureau and Deficits

By Claude R. Marx

While credit unions don’t have as many issues on Capitol Hill as they did last year, when lawmakers return from recess after Labor Day, there will be enough subjects that will keep industry officials and lobbyists actively prowling the halls of the Capitol.

Mergers Move East

By Jim Rubenstein

For months it has been the sand states getting all the merger attention. But last week’s consolidation move by the $2.6 billion Visions FCU, Endicott, N.Y., to take over the long-ailing $330 million Paragon FCU in New Jersey shifted the merger focus to the Mid-Atlantic.

Silver State’s Gain Disappears

By Jim Rubenstein

The distressed $712 million Silver State Schools Credit Union of Las Vegas confirmed again what analysts had expected: a first-half $2.8 million loss. But its new management continued again last week to claim progress is being made toward recovery.

Bethpage Rebrands Investment Services

By Michelle A. Samaad

After more than 20 years of meeting members’ investment needs, Bethpage Federal Credit Union was ready for a program upgrade.

SE Corp Recap Fails, Plans to Merge

By Robert McGarvey

Southeast Corporate told CU Times that it didn't reach its $80 million capitalization goal. The corporate will seek a merger partner.

Alternative Capital: Some See New Threat From CUSO Regs

By Michelle A. Samaad

For some credit unions, finding ways to create alternative capital can be a daunting and ongoing strategic maneuver.

HarborOne University Draws Crowd and Applause From Community

By Michelle A. Samaad

In a little over a year since HarborOne Credit Union opened its university-like learning center, Maureen Wilkinson has discovered the unexpected.

CUs Outpace Banks in the Mobile Banking Stampede

By Robert McGarvey

Listen hard and it as though you can hear the rush of credit unions to adopt mobile banking. It is coming that fast.

Ad Zombies to Help CUs Build Loan Growth

By Myriam DiGiovanni

This fall, get ready for a zombie invasion. If James Robert Lay, grower of relationships at branding-marketing firm PTP New Media has his way, zombies will be found at credit unions across the country.

Wegner Awards Include Dorety and Invest in America

By David Morrison

The National Credit Union Foundation has identified the winners of two of the three winners of Herb Wegner Awards for 2012.

Washington State CU Realizes Business Lending Dream

By Jim Rubenstein

Even during the darkest days of the recession, Terri Salstrom, president/CEO of the $137 million Industrial Credit Union, always had big dreams for her cooperative.

Editor’s Column: Leadership Is the Apple of a Credit Union’s Eye

By Sarah Snell Cooke

Steve Jobs has been on a medical leave of absence from Apple since early this year. As I’m writing this, he just announced that he was no longer able to carry out his duties as CEO of Apple. It is sad news when anyone has to give up their passion...

Savings Growth at the Expense of Lending

By Michelle A. Samaad

As members continue to keep their focus on paying down debt, the industry’s savings rate has emerged and remained in a hale and hearty state.

CUNA Mutual Shrugs Off Arizona Order

By Michelle A. Samaad

CMG Mortgage Insurance Co. said that a recent action by Arizona’s Department of Insurance placing PMI Mortgage Insurance Co. under supervision will not impact the firm’s new business originations or servicing of existing policies. 

Ground Zero CU Is Merging

By Marc Rapport

The credit union serving the now-closed hospital with the trauma center nearest to Ground Zero is shutting down.

N.J. Governor Signs Muni Deposit Bill

By Jim Rubenstein

At the end it was touch-and-go, but at last New Jersey Gov. Chris Christie has signed the municipal deposit bill empowering credit unions to start accepting government funds.

Guest Opinion: New CUSO Regs Would Likely Stifle Innovation

By Jeff Russell

Innovation is my passion and has been during my two decades of work in the credit union industry. In reviewing the NCUA’s proposed CUSO regulation, I am more than a little concerned about the impact that it will have on the ability to foster innovation in our industry.

Guest Opinion: Time for Another Corporate Miracle

By Richard M. Johnson

Forty years ago, credit unions created something that actually turned out to be a miracle: the corporate credit union system.

Guest Opinion: Dealing With These Uncertain Economic Times

By Bill Hampel

Following two years of modest but positive economic growth, the past few weeks have been unsettling. The U.S. government came unnervingly close to a self-induced default. Real sovereign debt crises at a number of European countries threaten another banking crisis in Europe.

Guest Opinion: Businesses Bring Loyalty and Profitability

By Chuck Cockburn

The pace of small business growth has been unprecedented over the past few years. Small businesses employ nearly half of the U.S. private payroll, accounting for nearly two-thirds of job growth since 1993.

Houston's People’s Trust FCU Mourns EVP

People’s Trust Federal Credit Union is mourning the death of Patricia Longoria Garcia, executive vice president and Signal Hill Financial CEO, who lost her lengthy battle with cancer.

RDC, P2P Comes to GTE FCU

By Marc Rapport

The 182,000 members of GTE Federal Credit Union in Tampa, Fla., can now use smartphones to send and receive payments and deposit checks.

Akcelerant: Growth Accelerates Hiring

By Marc Rapport

Growing sales and new products have prompted Akcelerant Software LLC to reorganize its management structure and announce plans to fill 13 new positions by the end of the year.

New Mobile App From Member Service Solutions

Launched earlier this summer, a new mobile app for credit unions is now being offered by the newly formed Member Service Solutions LLC of Franklin, Tenn.

Geezeo Lands Pen Air FCU

By Marc Rapport

The 103,000 members of the $1.1 billion Pen Air Federal Credit Union in Pensacola, Fla., will now be offered an online personal financial management solution from Geezeo of Tolland, Conn.

EPL Converts California CU

By Marc Rapport

EPL Inc. said it has converted the $51 million Community Credit Union of Southern Humboldt in Garberville, Calif., to the Birmingham, Ala., company’s i-POWER core processing platform.

Navy Federal Offers Android App

By Marc Rapport

An Android app is the latest electronic banking offering from Navy Federal Credit Union.

PFM Tools Offered by AmeriCU

By Marc Rapport

The 110,000 members of AmeriCU Credit Union can now plan to manage their finances online with the Geezeo personal financial management solution, the company and credit union said.

Synergent Checking Added by Two CUs

By Marc Rapport

Two more credit unions have signed on for electronic check collection and shared draft services from Synergent, according to the wholly owned subsidiary of the Maine Credit Union League.

New Online Capabilities at Freedom CU

By Marc Rapport

Prospective new members of Freedom Credit Union can now join the community credit union online.

New Online Payments at Mountain America

By Marc Rapport

The $2.9 billion Mountain America Credit Union in West Jordan, Utah, is the first credit union to offer its members a new online payment alternative involving NACHA, eWise and Jwaala.