Credit Union Times Magazine February 20, 2013

Featured Story

Front Page News

  • Vote Set on Calif. CUSO Ownership

    In a move to avoid duplication of services and to establish a more equitable pricing structure, the California Credit Union League and CURoots Cooperative said they are in discussions to transfer the CUSO’s ownership to the California League Services Corp.

  • 'Basel Lite’ in Offing

    The NCUA won’t require credit unions to adopt Basel III capital requirements, said director of Examination and Insurance Larry Fazio. However, as required by statute, he said the federal regulator will have to require credit unions maintain capital that is “comparable” what other regulators enforce.

  • Maryland CUSO Expands Collections Service for Small CUs

    Ask a staffer at a smaller credit union how costly it is to keep up with collection efforts and the employee, who might be juggling a number of different duties, will likely sigh, overwhelmed at the expenses and time involved.

News

  • CUNA Mutual Group Sells Mortgage Insurance Arm

    CUNA Mutual Group and the Arizona Department of Insurance announced a deal last week that, should it pass regulatory muster, will both resolve questions about CMG Mortgage Insurance’s financial foundations and lead to the rise of a newer and stronger CMG MI, CMG said.

  • OIG Tells Issa That Contingency Fees Are Reasonable

    NCUA Inspector General William DeSarno told House Oversight and Government Reform Chairman Darrell Issa (R-Calif.) in a letter that amounts paid to attorneys working under contingency contracts on securities fraud suits are reasonable and are not unnecessarily high.

  • The Five Traits of Successful Collections Professionals

    Until a few years ago, the personal qualities of collections professional could have been shared with those of bad supervisors or hard coaches, according to executives currently in the field.

  • Hope FCU Mobile App to Aid Low-Income Members

    William Bynum, CEO of the 28,000 member, $161 million Hope Federal Credit Union, believes the Jackson, Miss.-based credit union’s new mobile app is the first step in what he and the credit union foresee as an effort to make widespread banking and financial management solutions available to lower income people...

Editor-in-Chief's Column

  • Do the Right Thing to Avoid Regrets

    At the time I received the job offer from Credit Union Times in 2000 I had also gotten an offer from a credit union in the marketing department. This popped in my head recently for some reason. I’d almost forgotten. I pondered how my life and career might be different...

People Feature

Opinion

  • 10 Lending Targets for Credit Unions as a Result of QE3

    As the latest round of quantitative easing (QE3) commences, this significant government investment will present many lending opportunities for credit unions. QE3 will drive investment in private businesses, boosting corporate profits, which will enable companies to finance expansion projects and invest in value-added business services, like consulting and leasing companies.

  • Homebuyer + the Internet = Opportunity

    For credit unions wanting to grow their purchase-mortgage portfolios, the secret is online.

  • Feed Those Zombie Brains

    I’m a huge fan of “The Walking Dead.” I loved the comic series, and I’m pretty much addicted to the AMC television series it produced. “The Walking Dead” will soon wrap up its third season, and we’ve seen our cast of characters go through quite a lot. At times, they...

Letters to the editor

  • Fooling the Board: The Embezzlement Bonanza

    Over the last few months the Credit Union Times has covered five different credit unions at which CEO embezzlement and fraud occurred. These failures of leadership have left in their wake an abundance of angered and disillusioned members.

News Briefs

  • Reality Fair at GAC

    The National Credit Union Foundation plans to hold a financial reality fair for the third year in a row at CUNA’s Governmental Affairs Conference.

  • Mich. Merger of Equals

    Deteriorating financial condition, diminishing market and member growth and losing sponsor support force many credit unions to merge.

  • NAFCU’s Relief Manifesto

    NAFCU last week outlined a five-point regulatory relief plan the trade will pursue this year.

  • Health Care Tops List

    What do Americans want from their tax dollars? Affordable health care, for one.

  • Ill. League Touts Foreclosure Law

    The Illinois Credit Union League said it played a central role in advancing new legislation, establishing a fast track or expedited foreclosure process to remedy abandoned residential properties.

Focus Report

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