Credit Union Times Magazine July 17, 2013
On the surface, it might appear that a recent extension of the deadline for large employers to comply with providing health insurance under the Patient Protection and Affordable Care Act from 2014 to 2015, is a cause for relief. But some are not so sure.
Last week, 700,000 Department of Defense civilian employees began taking once-a-week furlough days that will cut their pay by roughly 15%. How will the temporary pay cuts affect credit unions?
Front Page News
More than a year after co-parent Telesis Community Credit Union’s financial woes pushed it into conservatorship, auto buying CUSO Autoland Inc. said it is looking forward to a fresh start.
Almost a year to the date since Navy Federal Credit Union launched its commercial participation loan program, the country’s largest cooperative said it is ready for changes mandated by an NCUA rule even after the regulator recently extended a compliance deadline.
BOSTON — The Consumer Financial Protection Bureau’s qualified mortgage rule that limits closing costs to 3% of the loan balance will have such a big impact on Midwestern credit unions, one Minnesota-based executive said he’d lose money if he complied.
BOSTON — It requires diligent vendor management, but credit unions can gain revenue and lower operating costs by outsourcing collections, said Marney MacFadyen, vice president of sales at Credit Control, a St. Louis-area firm that provides the service. MacFadyen shared the risks and rewards of the practice with attendees at...
Tenacious, energetic and adventurous are just some of the adjectives that have been used to describe Tansley Stearns, impact director at Filene Research Institute.
Credit union people are an eclectic bunch. I think the importance of the not for profit philosophy contributes to diversity of the characters. When they’re all in one area, such as an exhibit hall at a conference, the variety becomes more pronounced.
Letters to the editor
Before social media took over, there was this strange form of communication called face-to-face conversation. Two people would actually stand in the same room, look at one another and exchange thoughts and ideas through verbal interaction. For those of you who remember this form of communication, you may recall that...
Credit unions executives located in or near Rep. Gary Miller’s (R-Calif.) district in Southern California voiced their approval of a bill introduced by the House Financial Committee leader on June 28.
By now, credit union leaders have become accustomed to new regulations coming down the pike. Less awareness exists, however, for the importance of moving early on the steps it takes to comply with these new regulations.
Effective communication, especially related to meetings, increases productivity, saves time and most importantly strengthens organizational leadership capacity. Surveys of executives show that they can spend up to 40% or 50% of their time in meetings. Furthermore many executives observe that up to 50% of the time people spend in meetings...
Take a moment to think about the last marketing campaign your credit union ran. Who was your target audience?
The lending environment is undergoing an evolution. The continual entry of new players—especially on the Internet—has sharpened competitive knives that are cutting into credit union income. Business loans are an avenue for lenders to travel, since non-interest income is becoming so critical to survival.
GHS Federal Credit Union, Binghamton, N.Y., announced the promotion of Kevin Kelly. Kelly joined GHS in the spring of 2011 and has recently been promoted to IS manager where he oversees the daily operations of GHS’s information systems, including overseeing the IS staff, managing the network, GHS’s defenses, and safeguarding...
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