Credit Union Times Magazine February-10, 2010

NCUA Files Suit on New London Loss

By Michelle A. Samaad

The NCUA has moved forward filing a suit to recover $12 million from the defunct New London Security Federal Credit Union after discussions to reach a settlement fell through.

Corporates Release Year-End Numbers

By Heather Anderson

At least five corporate credit unions had posted their unaudited December month-end financial statements online as of press time.

Will Homeowners Take Mortgage Market With Them if More and More Walk Away?

By David Morrison

More homeowners than ever may be walking away from their mortgages and leaving their imprint on what promises to be an already significantly different housing and mortgage market going forward.

Treasury Throws Out a Lifeline to CDFIs

By David Morrison

The Obama administration will make money from the Troubled Asset Relief Program available to credit unions, banks and thrifts that have been recognized as community development financial institutions by the Treasury Department's CDFI fund.

Texans CU: Realty Firm Owes $40 Million for Defaulted Commercial Loan

By Michelle A. Samaad

Texans Credit Union said a federal bankruptcy court in Dallas ruled that a realty firm owes its commercial real estate lending CUSO more than $40 million in a suit involving a defaulted Illinois property loan.

Louisiana and Indiana Credit Unions Spread Strains of Super Bowl Fever

Credit unions in Indianapolis and New Orleans geared up for their teams' Super Bowl match-up with a mix of creativity and style.

WOCCU to Collect, Coordinate and Present Credit Union Basel II Comments

By Heather Anderson

World Council of Credit Unions announced Feb. 1 that it will collect and present credit union input to the Basel Committee on Banking Supervision, which will make revisions to the Basel II Accord this year.

WOCCU to Collect, Coordinate and Present Credit Union Basel II Comments

By Heather Anderson

World Council of Credit Unions announced Feb. 1 that it will collect and present credit union input to the Basel Committee on Banking Supervision, which will make revisions to the Basel II Accord this year.

ACCU Ponders Big Decisions

The Association of Corporate Credit Unions members will make big decisions on the organization's future at CUNA's Government Affairs Conference, said Executive Committee Chairman Steve Roy.

NCUA Names Whitehead to Region V, Issues Opinion on Mortgages

Elizabeth Whitehead, the NCUA's associate regional director of programs in Region I, was named by the board to be the Director of Region V.

Pevo NAFCU Lobbyist

Jillian M. Pevo, a former staff member for a senior member of the House Appropriations Committee, has been named NAFCU's associate director of legislative affairs.

Virginia Battle Over Banks Buying CUs Gains Media Coverage

By Jim Rubenstein

The legislative scrap brewing in Virginia over bills to permit banks to buy credit unions was capturing national attention this month from both industries, regulators and the media.

Fate of Student Lending Law Uncertain

Though credit unions lost a battle over student loans in the House, they may have another chance to prevail in the Senate.

Staff Hams It Up for Bucks First FCU's Free 'Local Commercial'

By Lindsey Siegriest

Bucks First Federal Credit Union hit the Web last week with an Internet commercial using humor to spread the word about local businesses.

'Tweet for College' Launched

Subcat Marketing has launched a "Tweet for College" scholarship.

CUES Going To Disneyland

The Credit Union Executives Society has added a lesson in Disney magic to its annual convention June 21-23 at Disney's Contemporary Resort in Orlando, Fla.

Maryland Teacher Wins Trip

Ken Hutchinson, a teacher at Havre de Grace High School in Maryland has been randomly selected as the lucky 2009 FoolProof for High Schools program contest winner.

SIU CU Welcomes CFP

The $167 million SIU Credit Union members now have access to a certified financial planner to help them navigate their financial future with the creation of SIU CU investment services department.

CUSO Pays Refund

The credit union owners of Cooperative Services Inc. will get their share of a $300,000 patronage refund, the payment services CUSO said.

MBL CUSO Reaches $1.4 Billion Milestone

Since its 2003 launch, the San Bernardino, Calif.-based Member Business Services said it has reviewed $1.4 billion in member business loans.

CUNA Shows Off New Pop-Up Video Messaging

Determined to sharpen the online credit union brand, CUNA has hired a Nashville, Tenn., vendor to help small and medium-size credit unions with advocacy and product messaging by adopting 3-D-style video technology.

Windsor Group Acquires Windsor Remarketing

Delinquent account management company Windsor Group, recently announced that is has acquired Windsor Remarketing, a third-party servicing company focused on remarketing repossessed vehicles.

SBA Adds HarborOne To Preferred Lenders

Members of the $1.7 billion HarborOne Credit Union will have faster loan processing and approvals now that the cooperative is an SBA preferred lender.

Branching Out

First Community Credit Union, Manchester, Mo., held a grand opening celebration for its newest branch.

Staking Out the Stats

With the deepening market downturn in 2008, the aggregate account values of members' investments dropped to $40.2 billion by year-end 2008, according to the "2009 Credit Union Retail Investment Services" study from Callahan & Associates.

New Mortgage Group Offers Consumer Education and Additional CU Branding

Credit union mortgage lenders might find a new avenue for promoting the consumer-friendly nature of their mortgage through certification from a new consumer-oriented mortgage group.

After Local Bank Locks Its Doors, Goldenwest CU Pulls Out All the Stops

By Myriam DiGiovanni

Goldenwest Credit Union has literally taken the credit union difference message directly to locals.

Truliant FCU Plunges Into Social Media as Means of Member Service

By Myriam DiGiovanni

Truliant Federal Credit Union is getting in on the online conversation.

IT Spending in Financial Services: Retail Focus Lags Corporate

By Marc Rapport

After a year of tightening their belts, North American financial institutions will be opening their wallets once again to invest in information technology in the next couple of years.

Live in the Moment but Plan for the Future

By Sarah Snell Cooke

Credit unions consistently tout their superior member service, particularly when comparing themselves to the bank next door. I would bet that most credit unions would find themselves in a dead heat in that comparison, or even falling behind.

MBL Limits-Be Watchful of What Others Wish For

Credit union industry leaders promote false pride when stating that the nation's credit unions did not cause the current economic crisis in America.

CU Culture Is Too Big-and Too Important-to Fail

The credit union culture is not only too big to fail-it's too important to fail.

James Blackburn of Redstone FCU Passes

Redstone Federal Credit Union is mourning the death of its Director Emeritus James Blackburn.