Credit Union Times Magazine June 15, 2011

Featured Story

  • CU Outreach Aids Afghanistan

    In the unsettling atmosphere across parts of Afghanistan, small business owners and farmers are getting the capital they need from the country's Islamic investment and finance cooperatives.

Front Page News

  • CUSO to Help CUs Deal With REO

    Call it a sign of the times. A Utah-based CUSO has partnered with a firm that specializes in managing and selling real estate owned by financial institutions to offer those services to other credit unions.

  • Another Fight Brews Over Member Business Lending

    Might this time finally be the charm for member business lending? After years of lobbying and cajoling, credit unions will finally get their wish on June 16 when the Senate Banking Committee holds a hearing on Sen. Mark Udall’s (D-Colo.) legislation to raise the cap on member business loans.

  • Members Report Snags in First Tech CU Conversion

    The $4.9 billion First Tech FCU, the product of a California-Oregon mega-merger this year, experienced a few negative hits during its Memorial Day computer conversion.


Editor-in-Chief's Column

  • Another Revenue Stream Bites the Dust

    Last week credit unions and banks failed to muster the votes to even delay the interchange fee cap regulation by a year. One could argue it was a failure of the American political structure that grants some groups or individuals inordinate amounts of power.


On-Site Conference Coverage

Letters to the editor

  • Corp One Capital Plan

    The June 8 issue of Credit Union Times contained a very comprehensive article titled, "Pay to Play: Comparing Capitalization Requirements." The timing of this article couldn’t be more appropriate as credit unions across the county are performing due diligence on potential new service providers, both inside and outside the corporate...


News Briefs

  • Ohio League, WOCCU to Work With Romanian Federation

    The Ohio Credit Union League and the World Council of Credit Unions have committed to helping a small Romanian group take on the task of modernizing that country’s credit union system.

  • Radio Host and Author Partners With Grow Financial on Auto Buying

    An author and radio host has signed a book purchase and relationship agreement with Grow Financial Credit Union to help members better negotiate the sale of their vehicles.

  • Silver State Curtails Its Shared Branching

    Contending it needs to focus solely on its own members, Silver State Schools Credit Union is ending some of its shared branching operations in Nevada, effective in August.

  • Iowa Rep. Praised by CUs for MBL Support

    Rep. Bruce Braley’s (D-Iowa), co-sponsorship of legislation that would increase the member business lending cap, is getting high marks from the state’s credit unions.

  • Ex-PCUA Leader Passes

    The former chairman of the Pennsylvania Credit Union Association, Ronald Lasich, 66, of Bridgeville, has died.

  • A Go on CO-OP Card Processing

    CO-OP Financial Services is continuing to build its credit card processing service, pitching it especially to CO-OP FS client credit unions that are attracted to the cost savings of bundling their credit and debit card processing together.

  • Fed Nominee Diamond Withdraws

    Peter Diamond, a professor at MIT whose nomination to the Federal Reserve has been blocked by Senate Republicans who say he lacks the needed expertise, announced last week he was withdrawing his nomination for the post on the board of the nation’s central bank.

  • Card Analysis School

    Card Analysis Solutions, a credit union card portfolio consultancy, has announced it will offer its card management school again this fall. The new card management program is scheduled for Sept. 19-21 in Chicago.

  • Yellow Light on Mergers

    Considering the poor economy, Pennsylvania’s Belco Community Credit Union is moving ahead with its first merger of a small ailing credit union in years, but it warns that CUs looking to expand had better be cautious.

  • CU Sues Lehman

    A bankruptcy court is scheduled to hear a case between the $1.2 billion Evangelical Christian Credit Union and Lehman Brothers Inc. on a foreclosed property in limbo as the investment firm revises its Chapter 11 bankruptcy plan.

  • Saving Less

    The National Foundation for Credit Counseling’s fifth annual financial literacy survey has found that some 26% of Americans are spending more, saving less and still carrying credit card debt.

Billlionaires Club

Tech Bytes

  • First Corelation Core Customer Goes Live

    After six years of development, Corelation Inc. of San Diego has a credit union customer live on its new KeyStone core processing platform.

  • Smart Financial CU Rolls Out Mobile Apps

    Users of all three of the major mobile device platforms will find a home in the new service rolled out by the $470 million Smart Financial Credit Union in Houston.

  • Mitek Wins Patents

    The developer of the mobile remote check deposit platform used by many of the major vendors to credit unions said it has been granted four new patents for its RDC technology.

  • Wescom Offers P2P Service

    Wescom Resources Group is offering its credit union clients mobile person-to-person payment service from PayPal.

  • Fiserv Hits 375 Mobile Banking Mark

    Mobile banking adoption continues to rise sharply among credit unions, according to a major vendor to the industry.

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