Credit Union Times Magazine June 20, 2012
Featured Story
Durbin Impact Feud Continues Unabated
Retail associations are celebrating what they are calling a year since their legislative victory in the battle over the Durbin amendment by asserting that none of amendment opponents' dire predictions have come true.
Featured Story
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Arizona CUs ROA Tops the Nation, but Numbers Mislead
Arizona credit unions reported the highest return on average assets in the country during first quarter 2012, according to the NCUA’s Quarterly U.S. Map Review. But despite 123 basis points worth of profit, things aren’t completely sunny in the Copper State.
Front Page News
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Occupy Member Elected to Vermont Credit Union
Vermont’s fourth largest credit union, the $346 million Vermont Federal Credit Union, may be charting new ground in dealing with the Occupy movement. It now has a Burlington activist on its board.
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Fryzel Defends NCUA Examiners Against 'Trying to Kill' Claim
NCUA Board member Michael Fryzel defended NCUA examiners in a June 11 letter to the editor after an online editorial accused the regulator of “trying to destroy small credit unions.”
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Bethpage FCU Spills Data Onto Website
The 203,000-member, $4.7 billion Bethpage Federal Credit Union, headquartered in Bethpage, N.Y., notified members and the NCUA of the accidental exposure of personal member data last week.
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Health Care Awareness Among Young Adults
It appears that young adults are becoming more aware of their health insurance coverage more than a year after the passage of the Affordable Care Act in 2010.
News
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Ohio CUs Spawn Cash Mobs to Help Local Businesses
The Central Ohio Chapter of Credit Unions has locals on the lookout for the next cash mob.
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Card Processing Is More Than Just Procedures
Too many credit unions put too little thought into their relationships with their credit and debit card processors and should concentrate on getting more out those partnerships.
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Industry Survival: Cleansing Debate Heats Up
The so-called cleansing theory – that there are too many underperforming or heavily capitalized small or midsize credit unions that need to be merged by larger brethren – is coming in for fresh debate this summer.
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NCUA Merger Policy Questions Arise Again
Despite recent activity, the NCUA has said it is not in the business of pushing mergers in 2012. According to an agency spokesman, there is “an upsurge in mergers this year which is likely due to the ability of continuing credit unions to assume the responsibilities associated with mergers as...
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Greater TEXAS CU Hits $500 Million
Greater TEXAS Federal Credit Union reached $500 million in assets earlier this year, during the Austin, Texas-based credit union’s 60th anniversary year. To celebrate the occasion, the credit union gave members commemorative chocolate coins in each branch lobby.
Editor-in-Chief's Column
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Editor’s Column: Let’s Silence the Violins on Small CUs
Credit union executives are tired and frustrated with the economic situation and recall the good old days of a decade ago when a 1% ROA was practically a given. NCUA examiners are tired and frustrated with the same things. These situations can lead people to speak without thinking or at...
People
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Trailblazer 40 Below: CUinsight’s Randy Smith Has Seen the Light
Talk to Randy Smith, co-founder and publisher of CUinsight, and it’s hard not to get excited about the credit union industry.
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Scholarships From Credit Unions
Scholarships from credit unions
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People in the News
People in the News
Opinion
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Guest Opinion: Matanuska Valley CEO’s Vision Stretches From Alaska to Hawaii
This is a story about the power of shared vision and the value of daring to dream big dreams. It is about taking risk and the potential reward of serving others in need. Thus starts the journey from the frozen mountain peaks of Alaska to the sandy beaches of Hawaii.
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Guest Opinion: Take a Stand on Interest Rates
How many of us have marveled at the foresight and success of other individuals and then felt we perhaps missed the boat? How did he know to purchase a house in that rundown neighborhood that eventually turned around? Or pass on paying $400,000 for a house in 2006 that she...
Tech Bytes
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Bradford-Scott Fortress FCU Conversion
Bradford-Scott Data Corp. said it will be converting the $15.4 million Fortress Federal Credit Union in Marion, Ind., to the Sharetec core processing system.
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MoneyDesktop Touts Signings
Seventeen more credit unions have signed with MoneyDesktop in Provo, Utah, to offer its personal financial management solution.
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FSI, EPL Add Three CUs
EPL Inc. of Birmingham, Ala., and Financial Services Inc. of Glen Rock, N.J., said four New Jersey credit unions have now agreed to use EPL’s i-POWER core processing system through FSI.
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CUBUS’s New Dashboard Integrates Functions
An integrated dashboard interface combining online banking, payments and financial management solutions into a single interface is now being offered by CUBUS Solutions.
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SACU Offers Mobile and RDC
The 256,000 members of the $3 billion San Antonio Federal Credit Union are now being offered new mobile banking and remote deposit checking options.
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Loan Origination System Rolled Out
The third generation of the Loan Producer loan origination system has been rolled out by Financial Industry Computer Systems Inc., the company said.
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Wescom Service Bureau Upgrade
More than $1.6 million has been invested since November to upgrade the Wescom Resources Group service bureau for credit unions running the Symitar Episys core platform, the company said.
News Briefs
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Autoland Touts Financials
During the first quarter, vehicle buying CUSO Autoland Inc. reported a 16% sales increase over the same period last year.
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Spare Change Adds Up for Northwest FCU Member
The coin counting machine at Northwest Federal Credit Union branch in Herndon, Va., got a workout last month. George Shoemaker, a member for nearly 20 years, took to heart Benjamin Franklin’s advice: A penny saved is a penny earned.
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Regimbal, Former Catholic CU CEO, to Retire
Paul Regimbal, CEO of the former Catholic Credit Union, will retire at the end of June after 24 years of service to the credit union.
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Michigan Tourism Card Soars
The $620 million Michigan First Credit Union of Lathrop Village is enjoying a burst of new card business–700 applications a month–from a rewards program stressing statewide tourism and patronage of local businesses.
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First Heritage Financial Reaches $1 Billion in Servicing
First Heritage Financial LLC, a credit union-owned mortgage service provider based in Philadelphia, ended May 2012 at $1.016 billion of mortgage loans serviced.
Resource Center
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