Credit Union Times Magazine June-09, 2010

Trades and CU Execs Wage Capitol Hill War in Interchange Restrictions

By Claude R. Marx

From the halls of the Treasury Department to town meetings in the states, credit unions and their allies began the last

Geithner Lays Out Support for MBL Hike

By Claude R. Marx

The Obama administration put its support behind raising the cap on member business loans to as much as 27.5% assets in writing,

Troops Muster Against Durbin Effort

By Jim Rubenstein

The industry furor over the interchange amendment passed by the Senate and sponsored by Majority Whip Richard Durbin (D-Ill.), marked by a no-holds-barred grassroots campaign,

Maine Mortgage CUSO Disdains Conventional Wisdom and Bucks Downturn Forecasts

By David Morrison

Conventional wisdom says mortgage-issuing credit unions, like the rest of the mortgage industry, will see a downturn this year.

California Dreamin': Kinecta, NuVision Announce $5 Billion Mega-Merger

By Heather Anderson

The boards of the $3.5 billion Kinecta FCU and $1.2 billion NuVision FCU have announced their intent to merge.

Franklin Mint to Merge With Main Line Health

By Jim Rubenstein

The $600 million Franklin Mint Federal Credit Union of Broomall, Pa., announced last week an agreement in principle to merge the $52 million

Self-Help FCU Sets Merger No. 5: United Savings FCU of Antioch

By Jim Rubenstein

The $190 million Self-Help Federal Credit Union of Oakland, Calif., has extended its aid to struggling, low income CUs by completing its fifth Bay Area merger in just under two years.

NCUA Conservatorship May End With Shreveport FCU, First Delta Merger

By Jim Rubenstein

The $80 million Shreveport Federal Credit Union, a member of the National Federation of Community Development Credit Unions,

Pelican State In Merger

By Jim Rubenstein

The $171 million Pelican State Credit Union said last week it expects to merge July 1 with the $1.9 million Lake Charles Telco CU

Firefighter Credit Union Coalition Comes of Age as It Sets Conference

By Jim Rubenstein

Linda Williams, president/CEO of the $20 million Akron Firefighters Credit Union in Ohio,

NCUA Extends Guarantee

NCUA announced June 2 it has extended the expiration date of NCUA's Temporary Corporate Credit Union Share Guarantee Program another quarter, from June 30, 2012 to Sept. 30, 2012.

FASB Proposes Loan Mark to Market

By Claude R. Marx

Credit unions would have to book their loans at their current value on their balance sheets under proposed rules issued by the Financial Accounting Standards Board.

Big Montana CU Converting to Symitar

By Marc Rapport

Montana's largest credit union will be converting to the Symitar Episys core processing platform.

Survey: Consumers Likely to Recommend CUs

By Marc Rapport

American consumers put credit unions atop the list of financial services providers they're likely to recommend,

Increased Members' Financial Anxiety Means CUs Need a Full Range of Contact Options

By Eileen Courter

For years, credit unions have urged members to regularly review their accounts in order to avoid overdrafts and quickly spot questionable transactions.

Redstone FCU Earns Another SBA Lender Award

By Michelle A. Samaad

For its lending efforts, the SBA has once again named Redstone Federal Credit Union Alabama's lender of the year.

Survey Finds Female Bill Payers Split the Duties

Women now pay bills online as much as men, one of several demographic shifts noted in the latest online banking and bill pay survey conducted for Fiserv Inc.

Lending Drops as MBL Continues Up

According to CUNA Mutual Group's May "Credit Union Trends Report," member business loans continued to be the front runner as total loans were down 1.5% year to date.

CU Investment Webinar

Gateway Services Group, a solutions provider CUSO, will host a series of free Webinars on best practices within a credit union's investment, insurance and trust departments.

Another CU National Defendant Pleads Guilty

Another former official of U.S. Mortgage Corp., the parent firm of CU National Mortgage,

Savings Peak Erodes

Compared to first quarter data over the past four years, growth may have reached its peak for the industry even though savings at credit unions were up 2.2% year-to-date to $787 billion.

CU Associations Take Aim at Proposed Merger Rules

By Claude R. Marx

Proposed new regulations on mergers and mutual bank conversions encroach on state autonomy,

Wescom Resources Launches Mobile Bankin

Applications for BlackBerrys, iPhones and Android smart phones are among the features of the new mobile banking platform from Wescom Resources Group.

RSA Cites Online Malware Growth

By Marc Rapport

Fraudsters, who work day and night to steal identities, credit card information and any other online credentials they can monetize

Durbin's Sparkling Interchange Fix Just Hides Legislative Substance

By Sarah Snell Cooke

Interchange remains the topic du jour. Many pieces of this issue are puzzling, not the least of which is the process in which it came about. Namely, there wasn't one.

WESCO Net Touts Online Banking Test

WESCO Net and CU*Answers said they have successfully tested a new disaster recovery system for the online banking solution used by more than 100 credit union clients.

Corporate Lawsuits Against Cheney May Become a Movement Nightmare

In the May 12 issue I read that Bill Cheney has been selected to become president/CEO of CUNA.

Letting Go of the CU Myths That Will Kill Us

The stories we tell ourselves frame how we view the world, our place in it and how we respond to it. I call this internal viewpoint our myths,

Despite Roadblocks, Secondary Market Revival Creates Opportunities

Still sputtering despite the gradual economic recovery, the U.S. housing market's continued recovery appears dependent upon the return of consumer and investor confidence in concert

Tall, Dark and Handsome Quicken Mortgage Unit Flirts With Credit Unions

By David Morrison

The nation's fourth largest mortgage lender wants to forge lending relationships with credit unions.

PEOPLE

MAFCU Credit Union, Brookline, Mass., announced the naming of Martha Castillo as assistant branch manager.

AWARDS

Credit Union Executives Society, Madison, Wis., announced that Barbara Kachelski,