Credit Union Times Magazine June 12, 2013

Featured Story

  • FASB Credit-Loss Proposal Ruffles Feathers

    The Financial Accounting Standards Board is getting an earful from credit unions and trade associations. Even NCUA Chairman Debbie Matz, like others, is concerned about the accounting board’s exposure draft that would require financial institutions to base loan-loss allocations on expected losses, rather than incurred losses. In addition to requiring...

  • Theft Charges Still Hang Over Former CEO

    A Philadelphia-area credit union manager’s retrial on theft charges, originally scheduled for June 3, was postponed to June 27, according to the Montgomery County Deputy District Attorney Steven Latzer.

Front Page News


Editor-in-Chief's Column

Billlionaires Club



  • Breaches Spawn a Fraud Boom

    First comes the notification that your personal data have been compromised in a data breach.  And as sunset follows sunrise, increasingly that notification is followed by actual dollar losses in fraud on personal accounts, said Javelin Strategy and Research in its recently released 2013 data breach fraud impact report.

  • Georgia Commissioner Rob Braswell Retires

    After 30 years of service, Rob Braswell, commissioner of the Georgia Department of Banking and Finance, retired on June 1.

  • Becker Hits $1 Million in Compensation

    NAFCU last week released its IRS 990 form for 2012, which reveals a significant increase in base salary from 2011 for President/CEO Fred Becker, as well as part of his retirement payout.

  • CU Realty Services Adds Two CUs

    CU Realty Services, the housing finance CUSO that seeks to make credit union central to their members real estate purchasing experiences, announced it has signed on two more credit unions.

Letters to the editor

  • Don’t Fear Derivatives: Letter to the Editor

    ALM First Financial Advisors has closely followed the NCUA’s efforts to develop an appropriate rule for credit unions’ use of derivatives as a hedging tool. We support the use of derivatives within the credit union industry as instruments for effectively managing interest rate risk.

  • Derivatives Rule Steps On Agency’s Funding: Letter to the Editor

    Regarding the Editor’s Column in the May 29 issue, “Usage Fees Are Not a Strange Idea.” Sarah Snell Cooke’s support of the pay for play precedent in the NCUA’s recently proposed rule on derivatives misses the point. We strongly support and have continually advocated expanding credit unions’ investment powers to include limited...

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