Credit Union Times Magazine July-28, 2010

Midwest Likely to Liquidate, Transition Members to CUSO

By Heather Anderson

Members of the $252 million Midwest Corporate FCU haven't yet voted to liquidate their cooperative. However, Board Chair Eric Musland, CEO of the $16.4 million LaMoure Credit Union, said liquidation "will probably happen."

Coast to Coast, CUs Capture New Biz Lending in a Sluggish Market

By Michelle A. Samaad

Whether they call the pristine greenery of the Pacific Northwest or the rolling hills of New England home, many credit unions share a common approach when it comes to business lending:

NCUA Rules Spur New Vendor Management Businesses and New Savings

By Marc Rapport

Vendor management has become a hot topic and a cottage industry since the NCUA published guidelines in 2007 that required credit unions to perform due diligence on everyone from their core processors to their janitorial services.

Obama, Denouncing 'Tricks' and 'Traps,' Signs Reg Overhaul Bill

By Claude R. Marx

Saying he wants a system where financial services institutions "compete on price and quality, not on tricks and not on traps,"

MBL Hike Hopes Fade

Lawmakers on Capitol Hill last week again failed to bring up a proposal to raise the cap on member business loans.

CU of Atlanta CEO Gaymon Killed by Undercover Detective in Newark Park

By Michelle A. Samaad

In town for a high school reunion, DeFarra Gaymon, president/CEO of the Credit Union of Atlanta, was shot and killed by an undercover sheriff's detective July 16 in a Newark, N.J., park.

New London Members Sue

Former board members and staff at the liquidated New London Security Federal Credit Union are among those accused by five members of negligence in a lawsuit to recoup $4 million in losses.

Growth Potential Lures Halleck to SDCCU

By Heather Anderson

The Golden 1 CU CEO Teresa Halleck said she wasn't looking for a new job when colleagues recommended she take a look at the $5 billion San Diego County Credit Union.

Risk Management Expert Advises CUs

By Claude R. Marx

CHICAGO -- Risk may be a four-letter word, but it's not something that is necessarily or should be feared.

Becker, Beal Rally Troops

CHICAGO -- Credit unions are no longer the best kept secret in banking, but they have to build on their popularity by preparing for all but certain uncertainty.

Sign of the Times: PSCU Offers Expanded 'TotalCollections' Service

By Lindsey Siegriest

PSCU Financial Services has expanded its CUCollect credit card collection service to offer collection efforts on other types of loans.

Gen Y Expert Links Brand Awareness to Recruiting New Staffers

By Myriam DiGiovanni

With the focus on reaching Gen Y members, now is the time to play by their rules to get them in the credit union door as staffers.

Jack Henry Picks Personal Solutions

The 10,800 credit unions, banks and other financial institutions on Jack Henry & Associates' customer list can now choose between a pair of personal financial management solutions to offer their customers and members.

Burniske Tells Utah CUs to 'Grow Up' in NCUA Merger Policy Flap

By Jim Rubenstein

NCUA policy on selection of merger partners for both voluntary and involuntary mergers is coming under harsh new scrutiny this month. The now-completed Utah consolidation is the focal point of both concern and controversy marked

Koenig Barred by NCUA

In a consent order, the NCUA last week barred Richard Koenig, the former chairman of Central States Mortgage Corp., a bankrupt Milwaukee CUSO and ex-CEO of the $144 million Prime Financial CU of Cudahy, Wis., from further industry activities.

Harvey, Ex-WesCorp Head, Retiring at Seattle Metro

Climaxing a 27-year stretch of service, Robert E. Harvey Jr., the president/CEO of the $544 million Seattle Metropolitan Credit Union and the former chairman of WesCorp, is retiring next April.

Leagues Fill Two Positions

The California and Nevada Credit Union Leagues have named Andrea Svoboda as director of political affairs, while Patty Salazar has been hired as state legislative and regulatory lobbyist.

Lewis Out at GPO FCU

A leadership dispute has led to a change of CEO at the $33 million Government Printing Office Federal Credit Union, according to sources close to the credit union.

Ala. Conservatorship Ends

The $184 million Mutual Savings Credit Union of Birmingham has emerged from state conservatorship by restoring profitability and fixing its balance sheet, according to the Alabama regulator Glenn T. Latham.

Belvoir Federal CU Lures a Thousand Members With Its Web Hunt Game

By Myriam DiGiovanni

An interactive Web hunt game has helped Woodbridge, Va.-based Belvoir Federal Credit Union spread the word about how it can help locals.

Blogger Helps Verity Credit Union Build Street Cred With Local Moms

By Myriam DiGiovanni

Verity Credit Union has gotten Seattle moms talking thanks to Verity Mom blogger Rosemary Garner.

The News Isn't Always Pretty, Nor the Lesson to Be Learned Easy

By Sarah Snell Cooke

The story of Dean Gaymon, CEO of Credit Union of Atlanta, was a tragic one that has captured the attention of the credit union industry. Gaymon was shot and killed by a police officer while in New Jersey for a high school reunion.

Marketers Doing More With Less

As I read the article written by CU Times Editor-in-Chief, Sarah Snell Cooke, "Sweat Equity, Creativity are Keys to Financial Services' Brave new World," in the July 7 issue, it mirrored many thoughts I had on what should be a new style

A Passion for Member Services Will Help Small CUs Survive

I was deeply disturb and disappointed at the letter that appeared in the July 7 issue from Charles Bruen, president/CEO of First Entertainment CU, voicing his views of the survival of small credit unions.

Restoring Members' and Community's Online Trust

The breakdown of trust impacts the lives of millions every day. It disrupts efforts to conduct business and to communicate at all levels-personally, locally, nationally and globally.

People

Greater Nevada Credit Union, Carson City, Nev., hired Patty Little as loss mitigation manager. Little will oversee loss-mitigation activities such as repossession, remarketing,