Credit Union Times Magazine January-07, 2009
News
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Pa. Supreme Court Overturns Lower Court and OKs Belco Community Charter
WASHINGTON -- Belco Community Credit Union can keep the community charter that allows it to recruit members in a seven-county area in central Pennsylvania.
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Maine CU League Opens Dialog on Credit Availability
AUGUSTA, Maine -- As a new state legislature takes office, Maine credit unions are optimistic about developing relationships with lawmakers, including contacts with the Business, Research and Economic Development Committee,
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Chrysler, More States Added to Michigan League's Invest Promotion
LANSING, Mich. -- Chrysler Corp. will join General Motors Corp. in the auto financing program of the Michigan Credit Union League and CUNA to provide low-rate car loans and price discounts to members through next June, it was announced last week.
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Ascend FCU Garners National Spotlight by Besting BofA
TULLAHOMA, Tenn. -- Ascend Federal Credit Union recently received national media attention when a frustrated Bank of America credit card holder closed her account.
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CSCU Looks Back on 2009 as a Healthy Year for CU Card Programs
CLEARWATER, Fla. -- Card Services for Credit Unions is looking back on a healthy year for credit union card programs.
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CUs Have More Leeway in Reporting Suspicious Transactions
WASHINGTON -- Federally insured credit unions will no longer have to report certain financial transactions over $10,000, as a result of amendments to the Bank Secrecy Act, which take effect Jan. 5.
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Wisconsin Credit Union House Will Open in February
MADISON, Wis. -- First it was Washington, D.C., then Missouri and Oklahoma. Now Wisconsin is getting a Credit Union House in the New Year thanks to a new facility by the Wisconsin Credit Union League.
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Share One Picked by Massachusetts CU
WILMINGTON, Mass. -- Share One Inc. said it will be converting Touchstone Federal Credit Union to the NewSolutions core processing solution.
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Open Solutions to Market Bluepoint
VISTA, Calif. -- Bluepoint Solutions Inc.'s teller capture product will now be offered to the 5,200 credit union and bank clients of Open Solutions Inc. in a new reseller agreement.
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Federal Regulators Approve New Credit Card Rules That Take Effect in 2010
WASHINGTON -- Federal credit unions and other credit card issuers will be banned from charging interest on repaid debt and not providing adequate notice on when payments are due under regulations approved
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Navy Branch Comes Under Banker Assault
FAYETTEVILLE, N.C. -- The "megabank credit union" line of the American Bankers Association got a fresh airing in North Carolina last week following the opening of a new Navy Federal CU branch serving the Fort Bragg Army Base here.
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Kenyan CU Development Boils Down to AIDS and a New Rice Crop
MADISON, Wis. -- Many American credit union managers may be faced with financial do-or-die decisions this year, but the dire situation for Kenya's credit unions is literally do-or-die.
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Corporate One FCU Books What Seems to Be a Bizarro Year
COLUMBUS, Ohio -- The American financial services landscape is looking quite a bit like the Bizarro World depicted in Superman comics where everything is the exact opposite of normal.
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The Key to CU Blogging Is to Find Focus and the Right Niche
HOBOKEN, N.J. -- When it comes to credit unions embracing technology, the issue is not to just do it, but to figure out how to do it in the right way for the credit union.
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SBA, CUNA Come Closer to Boost Stalled Business Lending
WASHINGTON -- There are a number of ways credit unions can provide relief to struggling small businesses and bring in revenue at the same time, the Small Business Administration and CUNA said at a year-end meeting.
Front Page News
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Popular SimpliCD Expands to Include Natural Person Institutional Members
WARRENVILLE, Ill. -- Balance Sheet Solutions' popular SimpliCD program has announced it will expand to benefit institutional members of natural person credit unions.
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Moody's Ratings Sweep Knocks Corporate CUs Down a Notch
NEW YORK -- Moody's Ratings Service released the results of its regularly scheduled credit union industry review on Dec. 22 and delivered a lump of coal to the financial stockings of every corporate it rates.
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Something to Think About in 2009: Distance Home Base and Backup Site
BAYTOWN, Texas -- A good New Year's resolution for credit unions in hurricane country, which as Ike showed in September can extend a thousand miles inland, is to put some serious distance between your home base and your backup center.
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Fryzel Rules Out Share Insurance Funds as TARP Replacement
ALEXANDRIA, Va. -- NCUA Chairman Michael E. Fryzel said any program to buy bad mortgages from credit unions should not be financed by the NCUSIF, but by the Treasury Department's Troubled Asset Relief Program.
News Briefs
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BizKid$ Show Has Staying Power, Enters Third Season
FEDERAL WAY, Wash. -- The BizKid$ financial literacy show continues to show it has legs, signing up with Public Broadcasting System and its big credit union sponsors for a third season starting in January.
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AACUC Conference Moves to Las Vegas
SHREVEPORT, La. -- The African-American Credit Union Coalition said it is moving its 2009 annual conference from Chicago to Las Vegas.
Regulatory/Compliance
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Washington's State-Chartered CUs Coping Well With New Mortgage Laws
FEDERAL WAY, Wash. -- As Washington's state-chartered credit unions tweak their practices and policies to comply with new mortgage mandates, there's applause for the procedures that created those laws and gave credit unions a voice.
Opinions
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Offer a New Benefit for Mature Members in the New Year
The recession, unstable economy, and the resulting impact on investments are affecting many of your credit union members.
Editor-in-Chief's Column
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Like a Rolling Stone: No Moss on Credit Union Times
As you flip through the pages of Credit Union Times this week, you'll find a few changes for the New Year-a bit of early spring cleaning you could say.
Letters to the editor
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Old Is New Again
I just had to write to commend you and your staff on the excellent Centennial Edition of Credit Union Times. I am relatively new to the credit union movement-five years-so I thoroughly enjoyed reading the history of credit unions in this country.
Looking Back
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Looking Back
In preparation for our 2009 Leadership Awards, Credit Union Times is taking a look back at last year's award winners.
Other
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Gen Y Will Be Lost Lambs in the Job Market Woods
No matter how many warnings you receive or lectures you listen to from the older and wiser there is nothing that can be done to prepare for the dismal abyss that is the transition from college into the real world.
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HOLIDAY DONATIONS
Meriwest Credit Union, San Jose, Calif., delivered over 1,000 pounds of presents to the Family Giving Tree agency for redistribution to underprivileged children
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Online Opening: Charlotte CU Finds 'Missing Link' in Competing With Big Banks
CHARLOTTE, N.C. -- Nathan Tothrow sees the results of marketing's collaboration with technology at Charlotte Metro Credit Union about 80 to 140 times a week.
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Seven Steps to Becoming Younger in 2009
If you're expecting an article on how to rid yourself of wrinkles, gray hair and an expanding middle, I'm sorry to disappoint you.
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Panda Security Reports Most Studied Remittance PCs Infected, Exposed
GLENDALE, Calif. -- A study of businesses that send remittances back to immigrants' home countries found many to be "severely lacking in security measures and at extremely high risk for cybercriminal activity," according to a new report.
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Project Management Software Helps WSECU Keep 'AtTask'
OLYMPIA, Wash. -- Just one of the things Keenan Wagner likes about his new project management software is how easy it is to show what he's been up to lately, in case the boss asks.
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Online Resources Signs Delta Community CU
CHANTILLY, Va. -- Online Resources Corp. said it has signed a multi-year deal to provide bill pay services to Delta Community Credit Union.
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CUTEK Offers Hosted Version Of Snail-Mail Address Checker
MURRIETA, Calif. -- CUTEK, a consultancy and developer specializing in the Symitar Episys core processing system, is offering a hosted version of its mailing address validation software solution for credit unions.
Resource Center
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