Credit Union Times Magazine July 4, 2012

Featured Story

Corporate Stabilization Fund Improved Last Year

The Temporary Corporate Credit Union Stabilization Fund made progress against legacy asset losses in 2011, improving the fund’s net position from 2010, according to audited financial statements released by the NCUA. The fund also received a clean report from outside auditors.

View Past Issues | Subscribe

Featured Story

California CFOs Are Looking Beyond Numbers Crunching

By Natasha Chilingerian

At any credit union, the role of the chief financial officer is a tough one. He or she must create a roadmap to financial success by setting the right pricing strategy, effectively managing credit risk and streamlining operational costs. But in California, where high unemployment, an unsteady housing market and...

Front Page News

Overdraft Fraud Suits Filed Against Seven More CUs

By Heather Anderson

A San Jose, Calif.-based attorney has filed seven class action lawsuits against credit unions, alleging overdraft shenanigans.
Purchase Money Mortgages Touted

By David Morrison

A CUSO that helps credit unions increase the number of purchase money mortgages has urged credit unions to consider housing finance less as the marketing of loan products and more as creating a leading sales channel.
Overdraft Fishing by Lawyers Seen

By Heather Anderson

California Credit Union League President/CEO Diana Dykstra said she’s upset about a string of lawsuits in her state accusing credit unions of unfair and illegal overdraft practices. And she accused attorneys in the state of “fishing for members.”

News

Study Suggests CUs Could Cash In on Bank Customers

By Natasha Chilingerian

Bank Transfer Day encouraged consumers to walk into credit union branches and open accounts last Nov. 5. And as credit unions reviewed their deposit growth data from fourth-quarter 2011, many viewed the media-hyped event a success.
Gateway Metro CU Moves Item Processing From League to Core

By Marc Rapport

Some credit unions, in deciding not to reinvest in their corporates, have also decided to move one of the core functions that led to the creation of corporates in the first place–item processing.
Matz Named in CFPB Suit

By Heather Anderson

NCUA Chairman Debbie Matz was named as a defendant in a lawsuit that challenges the constitutionality of the Consumer Financial Protection Bureau.
No Job Changes for Many, Accenture Study Finds

By Staff Writer

Despite dissatisfaction with their jobs many professionals have opted to stay put.

Editor-in-Chief's Column

Editor's Column: Step Up and Put the Fear of CUs into Bankers

By Sarah Snell Cooke

I’ve written about member business lending so many times that I’ve run out of new ways to get this column started. Just get it done already.

People Feature

Women to Watch: CEO Juli Anne Callis Urges Industry to Aim for the Stars

By Myriam DiGiovanni

While her career plans shifted from astronaut to oceanographer, Juli Anne Callis, president/CEO at National Institutes of Health Federal Credit Union never imagined her career trajectory would land in the credit union industry.
Women to Watch: CEO Juli Anne Callis Urges Industry to Aim for the Stars

By Myriam DiGiovanni

While her career plans shifted from astronaut to oceanographer, Juli Anne Callis, president/CEO at National Institutes of Health Federal Credit Union never imagined her career trajectory would land in the credit union industry.

Lending

Mortgage Software Aims to Knock Down Housing Obstacle

By David Morrison

Keeping track of all the different financial transactions that accompany an average mortgage loan application is likely one of the significant barriers keeping more credit unions from growing their housing finance programs.

Opinion

Guest Opinion: After Mortgage Spike, Now What?

By Robert Dorsa

Getting to 8% of the U.S. mortgage market has been a long time in the making–a virtual overnight success after almost four decades of hard work by tens of thousands of truly special credit union staffers.
Gen Y Back Talk: Splurging in Spite of Tight Budgets

By Natasha Chilingerian

I’m not the wisest about spending money, especially when it comes to things like clothes, shoes and accessories. I’m guilty of buying items for the life I wish I were living, instead of for the life I’m actually living. For example, I recently bought this big, floppy, black and white...
Guest Opinion: Talent Management Needed at Credit Unions

By Karen Knox

Yes, we’ve all heard it before from companies: “Our people are our most important asset.” If that’s the case, expenditure in developing people should be relatively close if not at the top of the investment list. But the sad truth that’s not usually the way it goes. In fact, many...
Cooperative Trust: Inspiration as a CU Brand

By Kenneth Worthey

While most people think of logos, taglines and corporate colors, they are not solely what a brand truly is. Your brand is the trust members place in your credit union. An exceptional experience and promise of trust is what your brand should be delivering at every interaction.

Tech Bytes

Ent Enhances Mobile Offerings

By Marc Rapport

New bill pay functions and enhanced personal financial management options are part of the integrated new mobile banking options at the $3.6 billion Ent Federal Credit Union in Colorado Springs, Colo.
Velocity Buys Sheshunoff

By Marc Rapport

The Deposit Score, Platinum Overdraft and Pricing Partner software business of Sheshunoff Consulting + Solutions of Austin, Texas, has been sold to Velocity Solutions of Wilmington, N.C., the companies said.
Peoples Credit Union Tabs VSoft

By Marc Rapport

VSoft Corp. said it will be providing back counter check processing to the $82 million Peoples Credit Union of Pembroke Pines, Fla. The 13,300-member institution will deploy the solution through the company’s VServe data center, positioning it to add other offerings, such as remote deposit capture for members.
Flag CU Hires CUSO@Work

By Marc Rapport

CUSO@Work, a division of CU*South in Fairhope, Ala., said its new Collections by Objective team has gone to work at the $36 million Flag Credit Union in Tallahassee, Fla.
ThreatMetrix at Patelco

By Marc Rapport

ThreatMetrix is now providing cyber threat protection to the $3.7 billion Patelco Credit Union in Pleasanton, Calif., the company and credit union said.
Core Conversion at Building Trades FCU

By Marc Rapport

CU*Answers said it has converted the $102 million Building Trades Federal Credit Union in Maple Grove, Minn., to the CU*BASE core processing system from CU*Answers, the Grand Rapids, Mich., CUSO said.
Personal ATMs at American Heritage FCU

By Marc Rapport

The $1.2 billion American Heritage Federal Credit Union said all teller transactions at its newest branch will be handled by a personal automated teller machine.
NARFE Premier CU to Core Convert

By Marc Rapport

Member Driven Technologies of Warren, Mich., said it will be converting the $150 million NARFE Premier Federal Credit Union of Alexandria, Va., to the Symitar Episys core processing platform.

Letters to the editor

Letter: Small Credit Unions Lack a Voice

By Bill Roberts

Re: the Editor’s Column in the June 20 issue [“Let’s Silence the Violins for Small CUs.”]

News Briefs

Michigan League Affiliate Buys MBL CUSO Stake

By Jim Rubenstein

In a new attempt to pump up member business lending, the Michigan Credit Union League disclosed last week that one of its processing affiliates has purchased a 10% interest in Michigan Business Connections, an Ann Arbor-based CUSO.
U.S. Central Bridge Will Close Earlier Than Expected

By Heather Anderson

The wind down of U.S. Central Bridge Federal Credit Union’s payment services “has progressed more smoothly than originally anticipated”, the NCUA said in a recent letter to credit unions.
Thomas Blaine Is in Marine Photo Exhibit

By Jim Rubenstein

The refrain “the Few, the Proud, the Marines” has special meaning for the family of Jim Blaine, the president/CEO of State Employees’ Credit Union of Raleigh, N.C.
NAFCU Sets Women’s Summit

By Staff Writer

NAFCU will kick off its inaugural “Women’s Leadership Summit” on July 24 at its annual conference and exhibition in Nashville, Tenn.
Judy Morin Named CEO at Ocean Communities CU

By Marc Rapport

Ocean Communities Federal Credit Union has named Judy Morin CEO of the Biddeford, Maine, credit union.