Credit Union Times Magazine January 30, 2013
If a credit union in the Pacific Northwest is hoping to compete with other financial institutions to woo a heavily sought-after executive for its business lending division, be prepared to make at least an $85,000 offer.
Front Page News
The Consumer Financial Protection Bureau released final mortgage rules that restrict loan originator compensation methods and increase the level of service loan servicers must provide to borrowers. However, due to the way credit unions already do business, trade associations say neither rule will have a major impact on the industry.
After nearly five years of providing research to benchmark credit union investment and insurance programs, Snyder Consulting Solutions’ studies has been acquired by management consulting firm Kehrer Saltzman & Associates.
Credit unions compete to recruit and retain quality employees by offering a wide range of benefits. But could that competitive edge be in jeopardy because of rapidly rising costs?
Does a 7.75% rate on a CD grab your fancy? Indeed, and exactly this was an offer at Her Majesty’s Credit Union in the Virgin Islands.
When shoppers swiped their credit and debit cards to pay for purchases at Barnes & Noble stores last year, they didn’t expect to have their card and personal identification numbers stolen. But hackers had breached point-of-sale keypad card terminals at 63 Barnes & Noble stores in nine states.
The American dream of home ownership may have taken a hit over the past few years, but GTE Financial in Tampa, Fla., still wants to build mortgage lending into its plans.
The creeping economic recovery has pushed credit unions to think more creatively to generate new revenues and efficiencies. A story we posted referring to Kern Schools Federal Credit Union last year drew an angry comment from a member recently.
CEFCU, Peoria, Ill., announced that a record extraordinary dividend of $9 million has been distributed to CEFCU members. The dividend was based on members’ savings and loan activity during, with $4.5 million going to borrowers and $4.5 million going to savers.
The year 2012 produced highs and lows. From Team USA winning 104 medals in the 2012 Summer Olympics, of which 46 were gold – more than any non-boycotted Olympics since 1904 – to the mega-disaster of super storm Sandy and the huge swath of destruction it caused in the northeastern U.S....
After the Berlin Wall came down, Congress decided to cash in the peace dividend and began closing military bases. One of the bases that closed was our primary sponsor, McClellan Air Force Base. We decided to convert to a community field of membership
Letters to the editor
In a Guest Opinion article in Credit Union Times [Jan. 23 issue, page xx], former CUNA president Dan Mica, now an industry consultant, shared his forecast for the 113th Congress. His prediction that measuring the success of the next two years by what does not occur rather than by what...
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