Credit Union Times Magazine February-24, 2010
Featured Story
How to Deal With NCUA's Stronger, Proactive Enforcement
With a sharp increase in CAMEL 3, 4 and 5 credit unions, the NCUA has said it will ask its examiners to redouble their efforts to detect problems early on.
Front Page News
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CUNA, Fynanz May Partner
In a deal to make student lending more readily available to credit unions, private student loan platform provider,
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University CUs Shift Card Programs
Credit unions that serve university students report that the latest round of credit card regulations will likely restrict the number of student members who will able to get cards.
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Competition Rains on Auto Lending
Credit unions enjoyed being the last ones standing in the auto lending market over the past year, but the competition has started to come back full force.
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As Wave of CRE Defaults Builds, CUs Take Stock in Conservative Loans
There's just no comparison between a foreclosure or walk-away from a $5.4 billion Manhattan 56-building complex and a defaulted loan on a small retail space in a strip mall.
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Lenders Get in the Zone to Help Fix Members' Woes, Operational Issues
For some time, the $321 million Granite Credit Union struggled with its payment protection service, unsure of how it could make the offering more attractive to its members.
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MBL Category One to Watch
With the drop in member business lending in 2009, it may be a sign of the times, but the loans were still the fastest growing lending group for credit unions last year.
News
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No Room at the Inn Leads Filene Official to Build Crash the GAC
Imagine attending a huge out-of-state conference for professionals within your industry where the networking opportunities are endless.
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Thanks to Big Issuers, Credit Card Market Offers CUs Opportunities
The credit card market in the wake of the Credit Card Accountability, Responsibility and Disclosure Act may be the most favorable ever for credit union card programs
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ICBA's Ence Bristles at CUs' MBL Cap Quest and Tax Exemption
Allies and adversaries, sometimes simultaneously. That's the relationship between credit unions and community bankers.
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Experts Say Fewer Partners and Tight FOMs Will Hinder CU Mergers
The credit union merger scene appears to be in a funk as 2010 gets under way.
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New Filene Innovation Report Chockablock With New Ideas
Using lotteries or sweepstakes to encourage savings deposits, helping members who don't save automate their savings efforts and including all the expenses of owning a car
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Recession Affecting ATM Industry in Some Unexpected Ways
Despite an ongoing war on cash conducted by the major credit and debit card brands
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WOCCU Goes to Russia to Prep Credit Unions for New Regulations
The Russian Credit Union League is preparing its members to meet new regulatory standards and create a self-regulatory framework by later this year.
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WOCCU and Technology Attract New Credit Union Members in Mexico
Through its Proyecto de Asistencia T?cnica al Microfinanciamiento Rural (PATMIR)
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Intense and Dazzling Trek to Dakar Teaches History, Culture and CU Ways
Let me introduce myself. I am Brian Gately, director of technical assistance for the National Federation of Community Development Credit Unions in New York. While at the federation
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Survey on New Card Regs: Consumers Are Aware of Them but Confused
A majority of consumers are aware that Congress passed credit card protections last year, but fewer know what those protections actually are
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SDCCU's Oberbauer Retires; COO Vongsawad Named Interim CEO
The $4.8 billion San Diego County Credit Union announced the sudden retirement of President/CEO Irene Oberbauer, effective Feb. 4. SDCCU's board appointed Chief Operating Officer Tum Vongsawad as interim president/CEO.
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CU Attorneys Find Time for Pro Bono
When Aaron Young was still in law school, he realized many people did not have financial access to the legal help they needed.
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Auditing Issues Delay NCUA Report
Almost 11 months after it was due, the NCUA has not given Congress its annual report for 2008, and several sources have said that the reason for the delay is a dispute with its auditing firm,
Tech Bytes
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CUs Advised to 'Confidently' Market Positive Image Online
The nation's financial crisis has created perhaps unprecedented opportunity for credit unions
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San Jose CU Signs Internet Provider
CommonWealth Central Credit Union plans to go live soon with a set of online banking tools from PM Systems Corp., the company and credit union said.
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California CU Early Adopter of Mobile Check Deposit
The 6,400 members of Torrance Community Credit Union in California can now use their iPhone cameras to deposit checks directly into their accounts.
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WRG Deploys Address Verification
Wescom Resources Group said it is now integrating an address-verification solution from another Symitar specialist into WRG's MemberEdge Online Banking Suite.
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Patelco Adds Online Behavior Mapping Tool
Patelco Credit Union is adding the FraudMAP solution from Guardian Analytics to its online defenses.
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Maine CU Converts
Synergent Technology Services said it has completed converting Otis Federal Credit Union, a $112 million institution based in Jay
Special Report
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Swift Moves to Save Members' Mortgages Is One Way South Leads Novartis
The affinity that Ann South has for those small, scrappy credit unions that
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Jersey Shore FCU Chairman DiNofrio Has Never Learned How to Keep Quiet
When Jersey Shore Federal Credit Union Board Chairman John DiNofrio was in the service, his father passed away and he was stuck in Spokane, Wash.,
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Ron Wright Combines Tech and Hospitality to Add Byte to Member Service
Services and solutions that push the envelope of what members expect and what credit unions can deliver can sometimes blur the lines between managing technology and member service.
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Patelco's Waite Credits Trailblazing Mentor Callahan for His Success
Chief financial officers enforce policy, they don't shape it. And in a conservative industry like credit unions, trailblazing opportunities may seem few and far between for CFOs.
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Marketer Barnes, With the Eye of the Tiger, Rises to the Challenge
With home values that decreased an average of 56% and an unemployment rate of 13%, it didn't seem likely that there could be any good news to come out of Las Vegas.
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Energy and Genuine Compassion Makes Elevations' Matthies a Winner
An economic downturn, lower pay increases, and the perception of fewer opportunities. All that didn't dampen Elevations Credit Union Vice President of People Annette Matthies'
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Ogden's 'Stimulus Mortgage' Is a Big Winner With Members and Agents
Just a few weeks into his new job as vice president of mortgage lending for the $1.3 billion Community First Credit Union,
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Joanie Johnson, Community First CU Manager, Finds a Cause for Everyone
Asking Joanie Johnson to select her favorite cause is like asking a mother to pick her favorite child-can't be done.
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Community First Flexes Its Muscles in Courthouse and at Ballot Box
Successfully suing the Internal Revenue Service over the unrelated business income tax and serving as a test case for the credit union movement might be enough political activity to last any financial institution for several years.
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Michigan Credit Union Lets Its Members Lead It Into a New Identity
Although it may be hard to believe now, the $29 million Communicating Arts Credit Union, winner of Credit Union Times 2010 Trailblazer Award for Outstanding Service to the Underserved
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Compliance Demands Drive Automation, Side Benefits
Whether it's as simple as updating on Excel or as sophisticated as Web-based automation, keeping in compliance has become a major task and topic of conversation at credit unions small and large.
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Analyst Advocates Embracing PCI for Better Business Security
As regulatory pressures build, PCI has become a particularly hot topic.
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Little Box Gives EECU Compliance Assurance, Password
Educational Employees Credit Union is using a little box and the software inside to replace lists of passwords it had kept on paper, passwords that provide access to the big California credit union's network of servers.
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Massachusetts Privacy Law Requires Safeguards
Credit unions that do business in Massachusetts will have to take extra precautions to ensure that consumer data is protected from identity theft.
Editor-in-Chief's Column
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Time to Get Philosophical at CUNA's Governmental Affairs Conference
Credit unions talk a lot about their philosophy of people helping people, which they are humbly proud of.
Columns
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Trying to Spread the CU Message? Start With Your Young Staffers
Right after I first started at this job, I had the opportunity to attend CUNA's Governmental Affairs Conference.
Letters to the editor
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Denied Recoveries Unconstitutional
One of the core principles in the U.S. Constitution is the notion that government should not take a citizen's property without just compensation.
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No Substitute for Retained Earnings
Having just read Suncoast Schools FCU CEO Tom Dorety's letter to the editor in the Feb. 3 issue, it makes one wonder how did the likes of Navy FCU and Pentagon FCU manage to grow capital?
Opinion
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CUs Can Find Opportunities for New Era of Growth
As our nation's economy struggles to gain momentum, many of America's credit unions continue to feel the ripple effects from the recent financial crisis.
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Raising Our Voices Above the Political Din: Time to Change the Game
Two profound declarations from President Obama's recent State of the Union address have substantial relevance for credit unions
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Message to Credit Union Leaders: The Emperor Has No Clothes
Credit union people are like family to me, but, like family, sometimes there is a need to have a heart-to-heart talk.
Billlionaires Club
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Pen Air Federal Credit Union Takes to the Skies With Honor Flights to D.C. for WW II Veterans
It seems only natural that veterans who slogged ashore in Normandy or Iwo Jima or flew over Berlin and Tokyo on bombing raids should have a chance to see the World War II memorial in Washington, D.C.
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Marketing Site Revamps
With its 2010 marketing conference in place and a revamped Web site, the Marketing Association of Credit Unions has a lot to celebrate.
People Feature
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PEOPLE
Quincy Credit Union, Quincy, Mass., announced the selection of Maura Gilmartin as the credit union's business development coordinator.
Other
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Esrael's Trial by Fire Helps His CU Ride Out the Great Recession
At 24 years old, right out of graduate school, Craig Esrael took over First South Credit Union in Bartlett,
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Paulson Pats Himself on the Back, While Westie Gets Pats on the Head
Political memoirs are often designed to inflate the importance of the author.
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