Credit Union Times Magazine February 23, 2011

Community Development Financial Institutions Fund Faces FY 2011 Funding Ax

By David Morrison

The gap between politicians that support funding the U.S. Treasury's Community Development Financial Institutions Fund and those who don't may have become the widest ever last week

Budget Cut, SBA Will Press On

By Michelle A. Samaad

Even with a 45% cut in its 2012 fiscal year budget proposal, the SBA said it will still be able to support small businesses.

Are GSEs Dead Enterprises Walking?

By Claude R. Marx

Fannie Mae and Freddie Mac should eventually be abolished and the government should cut back its role in the housing market while financial institutions should hold more capital.

Maryland FCU Takes First Step Toward Mutual Bank Conversion

By David Morrison

In what has become a rare occurrence, a federal credit union in Maryland has taken the what many see as the first step in the process to change to a mutual bank charter.

NCUA Reiterates Guidance Is Just Guidance for Brokerages

By Michelle A. Samaad

The NCUA recently reiterated that guidance on best practices involving third-party brokerage arrangements is just that and does not carry the force of formal regulation.

SBA Revisits Inventory Financing

By Michelle A. Samaad

Credit unions and other lenders looking to increase access to inventory financing for auto, boat, RV and other dealerships will be able to do so again through the relaunch of an SBA pilot loan program.

FINRA Weeds Through Brokerage Case With CU Ties

By Michelle A. Samaad

The Financial Industry Regulatory Authority may have a hard time deciding whether a defunct credit union-owned brokerage firm

Delta Community CU Declares It's Where 'Life Comes Together'

By Myriam DiGiovanni

Delta Community Credit Union wants members to know that their credit union is "Where Life Comes Together."

Security Service Buys Failed Family First FCU

By Jim Rubenstein

The $6 billion Security Service Federal Credit Union last week acquired a second, conserved CU, the $119 million Family First FCU of Orem.

California Credit Union In P&A

By Jim Rubenstein

Acting at the NCUA's behest, the $1.5 billion Western Federal Credit Union of Hawthorne, Calif. was the successful bidder last week to merge the failed $90 million Oakland Municipal Credit Union.

Prepaid Cards Help Honda FCU Nurture Alliances

By Michelle A. Samaad

With a niche field of membership, Honda Federal Credit Union is always looking for ways to create and expand opportunities that will not only meet members' needs but bring in additional income.

Affinity FCU's Expanding Portfolio Books 50% Growth

By Michelle A. Samaad

As is the case in many other states, small businesses continue to feel the freeze in New Jersey as their lines of credit and credit card balances have been slashed despite their ability to meet their obligations.

Mission SF May Have Partner

By Jim Rubenstein

The travail of the $6.7 million Mission SF FCU of San Francisco continued last week, with apparently desperate efforts under way to save the deeply ailing community development CU from being liquidated or merged by the NCUA.

After Firm Failure, Maine CUs Offer Aid

A group of Maine credit unions led by the Maine Credit Union League has come to the aid of homeowners and businesses in three Mid-Coast counties by providing zero interest, no fee loans following the failure of a Brunswick energy firm.

Filene, Canadian Central Team Up

The Filene Research Institute has reached across the border to partner with Credit Union Central of Canada.

Change a Life Launches

It's that time of year again as Credit Unions for Kids unveils the "Change a Child's Life" campaign to benefit Children's Miracle Network Hospitals.

Okla. Legislature May Take On Interchange

Prodded by both the bank and credit union lobbies, Oklahoma lawmakers may join their Michigan counterparts in urging a halt to implementation of the Federal Reserve's interchange fee rules.

Ticonderoga CEO to Retire; Hayes Promoted

After 40 years of service, Ticonderoga Federal Credit Union President/CEO Gregory D. Johnson has announced that he will retire effective April 5.

Mazuma Approves First Patriot Loan

The $400 million Mazuma Credit Union recently approved its first SBA Patriot Express loan for one of its members to buy a Quizno's sandwich shop franchise in Kansas.

Montego President Johnson Passes

President of the St. James-based Montego Co-operative Credit Union and founder of the Good News Church of God, Bishop Herman Johnson has died at the age of 69.

Aite: Time for Robust Battle Plan Against Internal Fraud

By Marc Rapport

Not all fraud perpetrators strike from afar. Some are employees looking to rip off their own employers and customers while on the clock.

Washington State CU Finds Scrums Help Projects Hum

By Marc Rapport

In rugby, a scrum is where the two sides mash together with their heads down and try to secure possession of the prized ball as action resumes after a halt in play.

Palmetto Joins Viewpointe

The Viewpointe exchange network has added Palmetto Cooperative Services LLC of Columbia, S.C., the company and CUSO said.

CO-OP, TCUL Partnership

CO-OP Financial Services and the Texas Credit Union League are adding mobile banking, remote-deposit capture and call center services to the services the league offers credit unions in Texas and Arkansas.

CO-OP Adds Outbound Calling

CO-OP Member Center is now providing automated and live-person outbound calling to support marketing and member service for client credit unions, according to the subsidiary of CO-OP Financial Services.

Thirty CUs Sign With LSI

Thirty credit unions signed up last year for lending and member contact center services from Lending Solutions Inc., the Elgin, Ill., company said.

Biting the Hand That Feeds You

By Sarah Snell Cooke

Eighteenth century political theorist and philosopher Edmund Burke is credited with being the first to use the idea of "don't bite the hand that feeds you" in print.

Remote-Deposit Capture Is Now a Must Have for CUs

Credit unions are playing catch-up to banks when it comes to business deposit products and services. Every national bank and most community banks offer remote-deposit capture services for businesses both large and small.

Regulatory Compliance in Uncharted Territory

Enough already! Never have truer words been spoken in relation to regulatory compliance.