Credit Union Times Magazine January 25, 2012

Featured Story

Front Page News

  • CAMEL Code Dispute Pits Feds vs. States

    CAMELs aren’t usually a source of controversy in a place known for basketball and tobacco. At issue is the NCUA’s fight with state regulators over the release of the CAMEL rating of State Employees Credit Union.

  • Mergers Nixed by Member Votes

    In a rare case of reversals, two proposed credit union mergers–one an interstate pact in the Northwest and the other involving Louisiana CUs–were called off last week as a result of member opposition.

  • Fallen MBS Prompts CUNA Mutual Suit

    CUNA Mutual Insurance Society, CUMIS Insurance Society and MEMBERS Life Insurance Co., have filed suit against RBS Securities Inc. claiming that the firm made false representations of its offering documents at the time that more than a dozen residential mortgage-backed securities were purchased by the three plaintiffs.

  • Alloya Reaches Out to VSoft

    A wave of outsourcing may be heading toward the corporate credit union sector. That at least is the hope of Murthy Veeraghanta, CEO of VSoft, a Duluth, Ga.-based provider of computer processing to hundreds of financial institutions, a number that just grew by one with the signing of a deal...

News

Editor-in-Chief's Column

People Feature

News Briefs

  • CU*Answers Hits 100 Stockholders

    The credit union owner list of core processing CUSO CU*Answers has now crossed the century mark, with eight new stockholders pushing the number to 101.

  • Goldenwest Office Building Named for CEO

    Goldenwest Credit Union has found the perfect way to honor former president/CEO Shelley Clarke’s 37 years of dedicated service.

  • Market USA Names Laura Hassan CEO

    Market USA Federal Credit Union has promoted Executive Vice President Laura Hassan to president/CEO.

  • Island FCU Names Sears CEO

    Island Federal Credit Union has named Vice President and Chief Financial Officer Bret W. Sears president/CEO.

  • Mortgagebot at CU Members

    CU Members Mortgage of Dallas is now offering its more than 1,000 credit union customers the PowerSite integrated point-of-sale loan application and customized website solution from Mortgagebot of Mequon, Wis.

  • Canadian CU Gets Acumen Core Platform

    Fiserv Inc. said its new Acumen core banking platform has replaced two systems at Momentum Credit Union.

  • Meriwest Taps VSoft

    A suite of remote deposit capture solutions from Atlanta-based VSoft Corp. has replaced an in-house system at the $1.1 billion Meriwest Credit Union in San Jose, Calif., the company and credit union said.

  • Paper Titles to ELT

    More than 10,000 paper titles have been converted to computer files at the $389 million Valley First Credit Union in Modesto, Calif., since it began using an electronic lien and title service solution from VINtek.

  • Orion FCU to Corelation

    Core processing specialist Corelation Inc. has signed its fifth and by far largest credit union client. The $535 million Orion FCU in Memphis, Tenn., is larger than the San Diego startup’s first four clients combined.

  • Vertifi Snags Two for RDC

    EasCorp said two large credit unions are the newest customers of mobile remote deposit capture services from its CUSO, Vertifi Software LLC.

  • CUBUS Provides Notifications for Energy Capital CU

    CUBUS Solutions said it is now providing electronic notification services to the $171 million Energy Capital Credit Union of Houston.

  • Cloudworks Bought by Ongoing Operations

    A year after entering a joint venture, Ongoing Operations LLC said it has purchased Cloudworks, a Thousand Oaks, Calif., provider of cloud-based hosted solutions.

  • Corelation Signs Fourth

    A fourth credit union has committed to the KeyStone core processing platform from Corelation Inc., the company said.

  • PRINGLE Sold to Wolters Kluwer

    PRINGLE Publications Corp. of Oklahoma City has sold its regulatory compliance content to Wolters Kluwer Financial Services in Minneapolis, the companies said.

Opinion

  • Guest Opinion: Loan and Lease Loss Challenges

    The estimation of the allowance for loan and lease Losses has been a part of the financial institution’s accounting processes for years, but it has taken on increased importance over the last several years.

  • Guest Opinion: The Option-Fueled Generation

    By the year 2020, the population segment we all refer to as Gen Y could reach upwards of 95 million and make up 36% of the adult population in the U.S. There is no doubt that this consumer group is becoming more relevant than ever.

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