Credit Union Times Magazine June-03, 2009

Matz Faces Range of Challenges After Taking the Helm of the NCUA

By Claude R. Marx

President Obama's pick to chair the NCUA, Deborah Matz, will oversee the regulation of an industry that has been sharply affected both by the recession and management and structural changes in recent years.

Elan Optimistic but May Need to Sell Itself Anew to Finalize TNB CU Deals

By David Morrison

Even though Elan Financial Services picked up roughly 140,000 credit card accounts in one transaction from TNB Card Services,

New Card Bill Brings Market Perils And Opportunities for Credit Unions

By David Morrison

Credit unions will have to compete in a credit card market stripped of some of their traditional consumer advantages,

When Will Your Credit Union Become Part of the 'Twitterverse'?

By Myriam DiGiovanni

To Twitter? Or not to Twitter? That is not the question. Rather, 'tis far nobler to decide when and how your credit union will become a part of the "Twitterverse."

Trades Offer Comments on Proposed Reg Changes

By Claude R. Marx

CUNA and NAFCU are urging the NCUA to be cautious about limiting credit unions' ability to offer overdraft protection programs.

U.S. Central's 'Moving Target' Losses Frustrate Many CFOs

By Heather Anderson

Ever since May 13, when U.S. Central Federal Credit Union released first-quarter financials that showed it had exhausted only 23% of its member capital accounts,

Credit Union Chairmen Plead for Common Sense on Volunteer Travel

By Jim Rubenstein

Credit union boards need to use a common sense approach to keep extravagant or excessive travel expense by volunteers under control,

Forrester Study Finds CUs Not Taking Full Advantage of Bank Backlash

By Lindsey Siegriest

A new study from Forrester Research Inc. titled, "What Makes Credit Union Customers Different?" sends the message that credit unions should not ignore the opportunities that have come out of the recession.

IRS Extends Tax Breaks for Small Businesses

By Michelle A. Samaad

The IRS said there are tax-saving opportunities available to small businesses under the American Recovery and Reinvestment Act.

Building Advocate Role May Help Consumer Confidence Turn Economy Around

By Michelle A. Samaad

When it comes to how consumers perceive big banks and their personal financial expectations for the next six to 12 months, two categories emerge: worried and confident.

WOCCU Assists Kenyan Government in Developing CU Regulations

By Heather Anderson

Kenya's credit unions, known as savings and credit cooperatives, or SACCOs, serve nearly 20% of the economically active population.

Defined Benefit and Contribution Plan Providers Rethink Offerings

By Michelle A. Samaad

Some providers are wondering whether they will be able to continue offering a pension plan as they scramble to make changes to their strategic asset allocations in an effort to pull through the recession.

Advantis Shows the Way With Two-Day Promotion, Bringing in $20 Million

By Jim Rubenstein

The $705 million Advantis Credit Union of Portland, Ore. is perfecting the notion of a sales blitz to gain market awareness with a $20 million deposit surge-drawing 400 new members-as part of a two-day promotion to open a new branch.

BizKid$ Nominated For Two Emmy Awards

The BizKid$ T.V. show, the industry-funded financial education production on the Public Broadcasting Network, has been nominated for

Alameda County, Calif., Kids Get Financial Literacy Lessons

By Myriam DiGiovanni

1st United Services Credit Union recently participated in the Alameda County take your child to work day event.

MATZ: CU and Political Experience Will Likely Aid Potential New Chair

By Claude R. Marx

President Obama's pick to chair the NCUA, Deborah Matz, will oversee the regulation of an industry that has been sharply affected both by the recession and management and structural changes in recent years.

CUNA, NAFCU Lobbyists On List of Most Influential

Three lobbyists for credit unions made the list of the most influential advocates compiled by The Hill newspaper.

After 25 Years, Bank Ousts S.D. CU From Hospital

By Jim Rubenstein

For nearly 25 years, the $130 million Sioux Falls Federal Credit Union has maintained a branch in a major local hospital to serve employees.

Re-Establishing Stalled Lending Among Eastern Financial's Priorities

Jump-starting slowed loan activity at Eastern Financial Florida Credit Union is probably one of the top checklist items for Space Coast Credit Union officials appointed to save the troubled financial institution.

Randolph-Brooks FCU Garners SBA Award

For its lending efforts, the $3 billion Randolph-Brooks Federal Credit Union has been named the Small Business Administration's top 7(a)

NAFCU Awards Winners

Six individuals, two credit unions and 14 credit union marketing entries have won awards in NAFCU's 2009 award programs.

Delaware Federal Credit Union Finds Happiness in Virtual Security

By Marc Rapport

Amanda Lennon has found happiness and new levels of security in a virtual world symbolized by an empty computer rack.

What to Do When the Robber Has Just Left the Building

By Eileen Courter

The robber has just raced out the door, leaving behind a shaken staff and at least one empty teller drawer.

Opening- and Closing-Time Robberies Can Be Especially Devastating

By Claude R. Marx

If your credit union is hit by a robbery at opening or closing time, several things are likely.

New Hi-Def Cameras Lend Comfort to Fibre FCU Members and Employees

By Eileen Courter

In technical terms, the new security cameras at Fibre Federal Credit Union, Longview, Wash.,

Outsourcing of Identity Management Is Moving Into Prime Time

By Marc Rapport

Today's recessionary pressures have accelerated the outsourcing trend among financial and health care institutions,

Financial Fraud Provides Opportunities for Fraud Management Vendors

By Marc Rapport

As much as we'd like to see fraud vanish and honesty take its place, don't expect the day to come any time soon.

CUISPA Survey Finds Security Protections Are Stretched by Lean Budgets

By Marc Rapport

Security remains a top concern at credit unions of all sizes as they deal with an ever-evolving landscape of threats while armed with flat or declining budgets to deal with the problem.

Everything Old Is New Again

By Sarah Snell Cooke

President Obama has announced his intent to nominate Debbie Matz for a return trip to the NCUA Board.

QUOTES WORTH QUOTING

"As I see it, we're now in the cleanup phase for the banking industry." --FDIC Chairman Sheila Bair

Primary Financial Hinges 2008 Successes on CD Placement Program

By Michelle A. Samaad

Management at corporate-owned Primary Financial Co. LLC is celebrating a banner 2008 and hoping its SimpliCD program's success will help the CUSO keep the momentum going this year.

Now Is Not the Time to Throw in the Towel on Credit Union Taxation

Now Is Not the Time to Throw in the Towel on Credit Union Taxation Bucky Sebastian is the dean of the credit union CEO corps.

It's Time to Renew Our Focus on What Members Demand and Need

Nothing is more unsettling than an abrupt and rapid change in your paradigm. Such a change creates the need to rethink everything.

Best Practices in Collections: Communicate in Order to Collect

What does it take to lower delinquencies? Today's economic climate challenges credit unions to practice early interventions and maintain a proactive attitude toward preventing growing defaults.

PEOPLE

Teachers Federal Credit Union, Farmingville, N.Y., announced that it has named Stephen Kohlmann assistant vice president-investments

EAST

Connex Credit Union, Hamden, Conn., recently promoted Kathryn Carlson to branch manager at its Hamden location.

CUs Need Bank Technology to Entice Lazy Gen Yers

By Lindsey Siegriest

Recently, The New York Times ran an article in its fashion section headlined, "When No One Wants to Look Like a Banker."

Truliant FCU Gets Product Ideas for Gen Y From Gen Y at Financial Fair

By Lindsey Siegriest

To get ideas for new products and services to offer Gen Y, Truliant Federal Credit Union went straight to the source.

DONATIONS

Cyprus Credit Union, Salt Lake City, awarded $25,000 to the 100% For Kids Credit Union Education Foundation as a way to further promote quality and innovative education in Utah's schools.