Credit Union Times Magazine June-02, 2010

CEO Dill Leaves Colorado League

By Jim Rubenstein

In a surprise move, John Dill, president/CEO of the Credit Union Association of Colorado since 2004, has resigned,

Person-to-Person Offerings Proliferate, Extend Service, Protect Turf

By Claude R. Marx

BECU went live on March 20 with person-to-person payments and since then has moved approximately $700,000 for about 5,000 newly enrolled users.

Trades Focus on Interchange During Reg Reconciliation

By Claude R. Marx

WASHINGTON -- For credit unions, the upcoming House-Senate conference committee on the financial regulatory overhaul is coming down largely to interchange fee regulation.

Details Revealed on Assessments, But Price Tag Remains a Mystery

By Claude R. Marx

Natural person credit unions don't know how much they will have to pay to shore up the NCUSIF this year,

CU Loses First Round in Mortgage Case

By Claude R. Marx

Despite support from the federal government, Hudson Valley FCU lost the battle in a New York State trial court over whether it or its members have to pay a mortgage-recording tax.

Ky. Court Ruling Opens FOM Doors

By Jim Rubenstein

Kentucky credit unions hailed a May 20 ruling by the Kentucky Supreme Court that struck down a long-running banker challenge on community charter field of membership expansion.

Michigan CU League Endorses Rep. Pete Hoekstra in Governor Race

By Jim Rubenstein

In a new approach to political action in state races, the Michigan Credit Union League is endorsing Republican U.S. Rep. Pete Hoekstra in his bid for governor in the Aug. 3 state primary.

Innovations FCU CEO Southall Says His Flash Mobs Just Wanna Have Fun

By Myriam DiGiovanni

You never know where Innovations Federal Credit Union's flash mob will show up.

Topeka CUs Pick Quest

By Jim Rubenstein

Two Topeka, Kan., credit unions that will merge this month have selected Quest as their new name, creating the state's fifth largest CU with $225 million in assets.

TruMark Financial Campaign Hones in on Consumers' Big Bank Discontent

By Myriam DiGiovanni

If TruMark Financial Credit Union's new edgy and humorous awareness campaign strikes a chord with southeastern Pennsylvania residents it could be because they scripted it.

First Tech Credit Union, Addison Avenue FCU Merger Awaits Approvals

By Jim Rubenstein

The planned $4.6 billion merger of First Tech Credit Union of Oregon and Addison Avenue FCU of California, representing the largest CU consolidation in history,

Dade County FCU Seeking Approval to Merge With Keys FCU

By Claude R. Marx

Dade County FCU is awaiting approval from the NCUA on its request to take over Keys FCU, which the NCUA placed into conservatorship last September.

Summit CU Completing Merger

By Jim Rubenstein

The $1.4 billion Summit Credit Union of Madison, Wis. said last week it has received member and regulatory approval to merge the $68 million State Central CU of Milwaukee effective June 30.

Fazio's Team Has "Solid" Corporate Assessment Estimates

By Heather Anderson

NCUA Deputy Executive Director Larry Fazio said the regulator already has "solid estimates" on the size of corporate loss exposures and other corporate stabilization expenses and is on target to recommend an assessment figure this summer.

Volunteers At Southwest

By Heather Anderson

The $10 billion Southwest Corporate FCU announced a new board member and three new supervisory committee members in a May 20 release.

Tower FCU's New Fitness Facility Tells Staffers: We Will Pump You Up

Tower Federal Credit Union has made it easier for staffers to make time for exercise.

Latino CU Wins Award

Latino Community Credit Union has been singled out by the Southern Growth Policies Board as the 2010 Innovator Award winner.

Manassas' Stonewall Jackson High School Wins Feed the Pig Competition

An intense 30-day competition among Northern Virginia schools helped students, educators and staff across five counties save a record-breaking $292,350 during Apple Federal Credit Union's "Feed the Pig" savings competition.

Glatt's New Phone Apps

Credit union consulting firm Glatt Consulting LLC has unveiled a new app for iPhone and Droid smart phones.

Celent, CUNA Partner Up

Boston-based financial research and consulting firm Celent has teamed up with CUNA.

CUNA Returns to the Top 20 of Biggest PAC Contributors

By Claude R. Marx

After having dropped off for a month, CUNA's Credit Union Legislative Action Council is again on the list of top of the top 20 donors to federal candidates, according to data compiled by the Center for Responsive Politics.

N.M. Rep.: MBL Increase 'Smart Approach'

Reiterating his support to the Credit Union Association of New Mexico, U.S. Rep. Martin Heinrich (D-N.M.), a co-sponsor of H.R. 3880 legislation to raise the member business lending cap, said the change makes fiscal sense for small businesses.

No 'Fat Finger' in Market Drop

Based on a preliminary review, the SEC and the Commodity Futures Trading Commission said they found no evidence of "fat finger" errors, computer hacking, or terrorist activity involved in the May 6 market drop.

Trading the Hog for a Van, Marketer Uses The Summer to Get His Motor Running

By Myriam DiGiovanni

PSB Integrated Marketing President Mark DeBellis has hit the road in a wrapped van on long summer trek.

Examiner Attrition an Issue in Ga.

By Jim Rubenstein

The recent attention on state budget cuts and their impact on financial oversight turned to Georgia last week as the state's top regulator and Georgia Credit Union Affiliates lamented the loss of examiners.

Numerica Merging With School Employees FCU

The $997 million Numerica Credit Union of Spokane, Wash.. was scheduled to complete by the end of May a merger of the long-ailing $12 million School Employees FCU of Richland.

Convent FCU Closed

Following five consecutive quarters of negative return on average assets and declines in loan and investment income, the NCUA on May 17 liquidated the Convent Federal Credit Union of New York City.

Premier Debuts Wal-Mart Branch

Premier Members Federal Credit Union of Boulder, Colo., said it will be the first to open a CU-operated branch in a Colorado Wal-Mart store.

Texas Tech FCU Online Banking to Be Launched

The first iPhone app for mobile banking from a Lubbock financial institution will be among the highlights for members of Texas Tech Federal Credit Union when it launches a set of new services in August, the credit union said.

PSCU Signs Dozens of CUs to Reg E Service

PSCU Financial Services said 65 credit unions already have signed up for its Regulation E overdraft opt-in service.

Homes for Troops Makes

Credit unions in Missouri and Oregon are stepping up their support this summer for Homes for Our Troops, the Massachusetts charity building specially adapted homes for severely injured war veterans.

CU*Answers Gains Mobile Adopters

CU*Answers said 78 credit unions have begun using its mobile online banking solution since it was launched in mid-March.

CUNA Task Force Wants More NCUA Openness on Mergers

The NCUA should spell out its procedures for finding potential assisted merger partners in a proposed rule and also be more forthcoming about the agency's role in ensuring a merger's success.

NCUA Rules that a Line of Credit Is MBL

A line of credit from a credit union to a mortgage company is a member business loan because the company assigns liens to family dwellings to secure the line of credit, NCUA Associate General Counsel Sheila Albin wrote in a legal opinion.

Trades Criticize, ABA Praises Changes to Flexibility Rules

By Claude R. Marx

The NCUA proposal to more restrictions on member business loans, investing in fixed assets,

Oregon CU Extends Awareness, Education Efforts With Online Newsletter

By Marc Rapport

Northwest Community Credit Union members can now use their favorite social networking sites to share such nuggets of information as financial advice and what's up with the credit union's bicycle-powered blenders.

Bellco CU Boosts Modification, Origination Volume While Cutting Costs

By Marc Rapport

Deploying anywhere, anytime electronic signature technology has helped Bellco Credit Union do more with the same.

The Great Interchange Debate: You Get What You Pay For

By Sarah Snell Cooke

Interchange. Credit unions love it and merchants hate it. However, merchants are being more than hypocritical in suggesting credit unions and other financial institutions cap debit card interchange fees.

Outside the Box: How Supplemental Capital Helped a Food Co-Op

In April 2010, NCUA board member Gigi Hyland released a white paper outlining the issues and opportunities inherent in nontraditional sources of capital.

Oh, There Must be Some Easier Way for Me to Get My Wings

At the end of "It's a Wonderful Life," we never really know if George Bailey retires from the Bailey Building and Loan in Bedford Falls or not-but I won't be retiring from North Side Community Federal Credit Union.

FSCC Offers Android Locator Application

Financial Services Centers Cooperative said its new shared branching locator application for the Android smart phone has already been used more than 5,000 times in the first week of its availability

People

MAFCU Credit Union, Brookline, Mass., announced the naming of Martha Castillo as assistant branch manager. Castillo has more than five years of experience.

Community Events

Genisys Credit Union, Oakland County, Mich., announced plans to partner with Palace Sports and Entertainment to sponsor the 20th annual Walk for Warmth.

CUs Can Be the Resource Gen Y Needs Now

By Lindsey Siegriest

This weekend I attended my cousin's college graduation from the same college I graduated from three years ago.

Donations

Meriwest Credit Union, San Jose, Calif., held a jeans day to raise money to support the victims of the Haiti earthquake. The credit union team raised $1,144 for Haiti relief.