Credit Union Times Magazine May 22, 2013

Metsger Nominated to NCUA Board

By Heather Anderson

Rick Metsger, a former Oregon state senator who has sponsored credit union legislation and once served on a credit union board, was nominated by President Barack Obama May 15 to serve on the NCUA Board.

WesCorp Losses Far Outpace Other Corporates

By Heather Anderson

According to legacy asset loss estimates provided to Credit Union Times by the NCUA, investments made by Western Corporate FCU are generating far more losses than those that were made at other failed corporates.

NCUA Ponders Fees for Derivatives Rule

By Heather Anderson

NCUA Board Members Debbie Matz and Michael Fryzel said they are eagerly anticipating comments on a rule that would grant new investment authorities but could set a pay-to-play precedent that concerns trade associations.

CU24 Takes Long View and Sports New Logo

By David Morrison

Credit Union 24 has shortened its name to CU24 but broadened its vision of what it can offer an already crowded payments market.

CU Auto Lending May Bring IRR Gods’ Wrath

By Michelle A. Samaad

That two-door hatchback with the spiffy, cushy interior bought back in 2003 may be on its last wheels.

Suit Seeks To Hook Phishers

By Missy Baxter

A South Carolina credit union is taking what legal experts say is a rare legal approach to combat phishing by filing a civil lawsuit and winning a court order to serve subpoenas on Internet service providers and phone companies related to the case without waiting for a pretrial conference.

Low Overhead Boosts Savings Rates at Rutherford Postal

By Eileen M. Courter

It’s as simple as Business 101. Cut costs and you can boost profits.

Sunmark Crowd Sources for New Website Design

By Marc Rapport

Sunmark Federal Credit Union turned to the world of the social Internet to help the New York credit union upgrade its online presence.

Delta’s Lending Leadership

By Michelle A. Samaad

Two key management changes were recently made within Delta Community Credit Union’s personal and commercial lending operations.

Bucky Sebastian to Retire

By David Morrison

Wendell Sebastian will retire on June 30 as executive director of the National Credit Union Foundation.

NCUA Nominee’s Long and Winding Road: Editor/Publisher's Column

By Sarah Snell Cooke

Last week Credit Union Times, via CUTimes.com, broke the story that former Oregon Senator Rick Metsger was going to the be the White House’s nominee to fill the vacant seat on the NCUA Board, later confirmed by the administration.

Va. League Board Elections

The Virginia ­Credit Union League ann­­­oun­ced the results of recent elections for its board of directors.

Three Leagues to Consolidate

By Peter Strozniak

Credit union members of the Credit Union Association of Oklahoma voted to approve a merger with the Texas Credit Union League and the Arkansas Credit Union League to form a new regional cooperative organization–the Cornerstone Credit Union League.

NAFCU Board Election Results

By Staff Writer

NAFCU announced last week that Jan Roche, Ed Templeton and Daniel Weickenand have won at-large seats on the NAFCU board of directors in voting that closed May 13.. Their new terms begin after the annual business meeting on July 9.

Director Roger Turnquist

Army Aviation Center Federal Credit Union Director Roger Turnquist has passed away. Turnquist was 99 years old and still an active board member at the time of his passing.

CEO Richard Heins

Retired CUNA Mutual Group President/CEO Richard M. Heins died May 3. He was 85.

CU Student Loans May Dodge Asset Bubble, Delinquency Rates

By Heather Anderson

From the Wall Street Journal to the activist blog Zero Hedge, economists and pundits have been actively debating this year whether or not a student loan asset bubble exists and if so, when it might pop.

Should Policy be Used to Abate Student Lending Woes?

By Amy Crews Cutts

As of March 2013, 38.6 million Americans have a combined $869.9 billion of student loan debt, which represents an increase of 16% from the same time just one year ago at $748.6 billion. Further, there are currently more than 125 million student loans outstanding, indicating the average student takes out...

Management Manages, Not the Examiner

By E. Prescott Ford

In today’s conservative regulatory environment, the relatively high number of issued documents of resolution revealed in a recent survey of credit unions may not seem so alarming. However, if credit unions do not adequately manage their relationship with regulators, this hands-on approach could hinder their ability to provide the services...

Letter: Paid Directors Are a Misstep

By Evans M. Harrell

I have followed with some amusement and interest the recent news about directors of some credit unions receiving director fees.