Credit Union Times Magazine January 19, 2011

GAO Report Will Look Into NCUA's Corporate Actions

By Claude R. Marx

Congress hasn't scrutinized the NCUA's handling of the problems at corporate credit unions very much.

SBA Offers Mortgage Lifeline

By Michelle A. Samaad

As the SBA recently marked how the Small Business Jobs Acts of 2010 has helped it approve more than $10.3 billion in loan guarantees since the legislation was signed back in September, CUs could reap some unexpected benefits.

NCUA Files New WesCorp Charges

By Robert McGarvey

It's not over until it's over.

NCUA Reports Spike in Troubled CUs

By Claude R. Marx

ALEXANDRIA, Va.-- The NCUA reported last week that the number of troubled credit unions increased at the end of last year, indicating that despite signs of economic improvement the industry has a way to go before it is out of the woods.

More Requests, Less Funding Means a Leaner CDFI Round

By David Morrison

Community development credit unions may receive less money on a per credit union basis from the U.S. Treasury's

NCUA Financial Literacy Rules Spark Seminars

By Jim Rubenstein

Those new NCUA rules taking effect next week on financial literacy for credit union directors continued to stir heightened compliance worries.

Advisers Who Use Social Media Gain More Revenue

By Michelle A. Samaad

While it may be unclear if the two are connected, some financial advisers that use social media professionally are seeing higher revenue growth and larger client bases compared to advisers that do not use the network channels.

Washington CUs Plan to Merge

By Jim Rubenstein

Two of southern Washington's largest credit unions, the $279 million Yakima Valley and the $184 million Catholic, both competitors in the same community, are planning a June merger.

Cuomo Seeks to Combine Regulatory Agencies

By Jim Rubenstein

The notion of combining regulatory agencies covering credit unions, banks and insurance firms may be a pet project of New York's new governor, Andrew Cuomo, but so far it has won only preliminary CU approval.

Sales and Loan Volume Are Likely to Pick Up in 2011

By Eileen Courter

You're likely to see auto lending pick up in 2011. Many of those loans will be for practical rather than high-end vehicles.

CU Xpress Lease Latches Onto a Surge in Consumer Demand

By Joyce Moed

CU Xpress Lease Inc. is on a record-setting pace in auto leasing activity with 2010 up 100% on year-over-year numbers from 2009.

CUSO Alliance

Credit Union 24 has partnered with Palmetto Cooperative Services to provide credit union-owned point-of-sale and surcharge-free ATM services to credit unions referred to the network.

Grow Financial Joins AppOne Platform

Grow Financial Federal Credit Union in Tampa Bay, Fla., is expanding its relationship with Wolters Kluwer Financial Services by joining the firm's AppOne Platform.

Filson Is Callahan Chair; Interim CEO Named

By Myriam DiGiovanni

The new year has brought some changes at Callahan & Associates as Co-Founder/President Chip Filson has been elected to chairman and Bruce Mancinelli has been named interim CEO.

Halleck Says Members See Branches as Key to Convenience

By Eileen Courter

In the digital age, with more and more members contacting their credit unions through the Internet or a mobile device, traditional branches can seem a bit quaint and old-fashioned.

New Website For Kids Club

DuTrac Community Credit Union of Dubuque, Iowa, has launched a new, interactive website for its Savasaurus Kids Club program.

New CEO At DC CU

Government Printing Office Federal Credit Union has named Timothy L. Anderson as its new president/CEO.

CUs, Small Banks Score Higher With Customers

While customer satisfaction with credit unions has dipped they still fare better overall than big banks.

AACUC Appoints New Board Member

Lynette Smith, president/CEO of Washington Gas Light Federal Credit Union, was recently appointed to the African-American Credit Union Coalition's board of directors.

New CEO at Blackhawk

There is new leadership at Blackhawk Community Credit Union.

Consumers Vow to Decrease Debt This Year

Decreasing debt tops most consumers' New Year's resolution lists.

Tower FCU Mourns Byroad

Former Tower Federal Credit Union President Robert Byroad has died at the age of 81.

Xetus Names New CEO

A new president/CEO has been named at Xetus Mortgage Corp. as the loan origination and management technology provider plans improvements to its Web-based platform, the company said.

Equidata Adds Loan Evaluation

Credit information services and solutions provider Equidata Inc. of Newport News, Va., said it is now offering the RateMatch loan-evaluation service from New York CUSO Syphr LLC.

CUISPA Plans Conference

The Credit Union Information Security Professionals Association will hold its sixth annual conference later this month in Austin, Texas, again featuring a forum with NCUA regional officers.

Phishing Evolves

Tricking consumers into giving up identifying credentials with phishing e-mails continues to be a popular practice for

Geezeo Signs Firstmark Credit Union

Geezeo said it has signed the $715 million Firstmark Credit Union of San Antonio as the newest user of its personal financial management and integrated marketing solutions.

CUSO Owners Get $1.2 Million Dividend

Core processing CUSO CU*Answers said it has returned $1.2 million in 2010 patronage dividends to its credit union owners, a 70% increase from the $700,000 it returned last year.

Celent Reports Rise in IT Spending

North American banks are spending more on information technology now than they have in the past couple of years, according to a new report from Celent.

Filene Report Gives Advice on PFM, Social Media and Mobile Channel

Where and how to spend scarce information technology dollars is the focus of a new report from the Filene Research Institute.

Everything Old Is New Again

By Sarah Snell Cooke

I was reading through editorials by my predecessors as I was preparing to write this week's column, looking for inspiration.

Interchange: Make Your Voices Heard

On Dec. 16, the Federal Reserve Board released draft rules for comment on the Dodd-Frank Wall Street Reform Act,

Does Your Credit Union Act Like a Business?

How many times have you heard that credit unions are a not-for-profit movement and exist for the benefit of members?

Negotiation Should Be Emotional

By Claude R. Marx

When you are negotiating, focus on emotion not logic and paint a verbal picture for yourself of the other person's vision and dreams.

NACUSO Kicks Off 2011 With New Advocacy Voice

By Michelle A. Samaad

While NACUSO has beat the drum to rally support on pressing industry issues, for the first time in its 26-year history, the association is putting together a plan of action for advocacy

Around-the-Clock Access Starts With Teamwork

In today's market, attractive rates and fees, innovative product platforms, rewards and incentives are all at the top of the list as consumers select their financial services providers.

Legislative Barriers Are Among Threats to Collaboration

The credit union system has long touted the merits of collaboration and cooperation. As clich?d and overused as the idea may have become, collaboration will continue to be

Third-Party Relationship Risks Are Manageable

A new white paper from the CUNA CFO Council looks at the risks credit unions need to be aware of with third-party relationships.

Fill Corporates' Void Among NAFCU Unit's Priorities

By Michelle A. Samaad

If 2010 was any indication of just how busy NAFCU Services Corp. was, this year could be a repeat times two.

Texas CUs Among Leaders in CUSO Investments

When it comes to the most investments and loans in CUSOs, three Texas credit unions have the distinction of being in the top five ranking.

People

Holy Rosary Credit Union, Rochester, N.H., announced the promotion of Debbie Smith to senior loan officer. Smith began her career with the credit

Verbatim

Upon being sworn in for her third term in the House of Representatives, Rep. Michele Bachmann (R-Minn.) introduced

Donations

Advantis Credit Union, Portland, Ore., helped address the Portland area's need for nonperishable, high-protein foods for hungry families and children. The credit union raised $7,300 in cash contributions and encouraged

Branching

Altura Credit Union, Riverside, Calif., this month closed its branch office at E. Florida Ave. in Hemet, Calif., and merging it with its second Hemet branch office at 320 S. Sanderson