Credit Union Times Magazine March-03, 2010

Bernanke Turns MBL Hike Scrooge

By Claude R. Marx

Talk about bad timing for credit unions.

CUNA Panel Advocates Revamp Of the Corporate System

By Heather Anderson

CUNA wants a pared down corporate credit union system that requires little new capital from natural person credit unions.

Power Financial CU, Staples Continue Small Business Makeovers

By Michelle A. Samaad

For businesses like the Miami-based Institute for Regional Conservation that rely mostly on grant money to stay afloat, any extra funds are greatly welcomed and appreciated.

CSCU Rethinks Its CU Card Role to Take on More Responsibility

By David Morrison

WASHINGTON -- CSCU President Robert Hackney wants everyone to know that the association's days of being seen as playing a more junior role with card issuing credit unions have ended.

WesCorp to Launch Mobile Direct-to-Core

WesCorp is now beta testing a new mobile banking solution the corporate said will make the service more affordable by delivering it directly from the credit union's core account system.

CU Student Choice, Collegiate Funding Join Forces

By Lindsey Siegriest

Private student lending CUSO CU Student Choice has partnered with college planning and funding software provider Collegiate Funding Solutions to launch a collaborative promotional effort.

MShift Sues Digital Insight Over Mobile Technology Patent

Mobile banking company MShift Inc. has filed a federal lawsuit against Digital Insight and one of its customers, a Louisiana bank, charging them with infringing on an MShift patent.

CUNA on Reverse Mortgages

CUNA wants consumer advisory language strengthened in the proposed guidance regarding reverse mortgages while NAFCU would like to see additional guidance on what information must be included in advertisements.

Increase in Fraud Reports

There was a 7.5% increase in suspicious activity reports for mortgage fraud during the third quarter of 2009 compared to the same period in 2008, according to data compiled by the Treasury Department's Financial Crimes Enforcement Network.

Bilouris Named Aide to Marquis

Matthew Bilouris, a program officer at the NCUA's Office of Examination and Insurance, has been named special assistant to NCUA Executive Director David Marquis.

Compliance Burden To Increase

An overwhelming majority of credit unions surveyed by NAFCU expect their compliance costs to increase in 2010.

LemmonTree Offers New Microsite

LemmonTree Marketing Group wants to get leaders talking about the future of credit unions.

Zurich Introduces New Liability Policy

Property and casualty insurance provider Zurich has unveiled Financial Institutions Select, a new management liability/professional liability policy that includes more than 75 new coverage enhancements designed to reflect the current landscape of risk.

WEOKIE Taps Clayco

WEOKIE Credit Union has tapped the expertise of design/build firm Clayco Inc. to head the project for its new 22,000 square-foot operations center.

Banks Hold Undeniable Sway Over CU Legislation

By Sarah Snell Cooke

Attendees of CUNA's Governmental Affairs Conference last week were spared a winter storm, but there was a flurry of activity.

Training Not a Magic Bullet

In Feb. 10 Editor-in-Chief column ("Live in the Moment, but Plan for the Future"), there were several good points executives need to consider related to staffing and the member experience.

Link Member Satisfaction to Viability

Thank you for your timely treatment of member service and its true value to a credit union. [CU Times, Feb. 10, Editor-in-Chief column]

The Lack of CU Cooperation at Local Level May Not Be Such a Bad Thing

Since reading both Editor-in-Chief Sarah Snell Cooke's comments and those of Fred Becker regarding cooperation among credit unions [CU Times, Feb. 3], I have been thinking a lot about this subject.

A Director's Duty Is to Act Prudently

The notion that volunteer directors generally underperform has no more credibility than the idea that financial rewards for individual directors is the driving force and significant difference between healthy corporations and failed corporations.

Top House Committee Leaders Voice Vigorous Support for Lifting MBL Cap

By David Morrison

WASHINGTON -- Two powerful members of the House Financial Services Committee gave credit unions reasons to hope that Congress might eliminate or at least lift the cap on credit union making business loans to their members.

Two Breakout Sessions Advocate Strategies for CU Survival

By David Morrison

WASHINGTON -- Two breakouts sessions at this year's Government Affairs Conference urged credit unions to adopt strategies that speakers said may be key to credit union survival in the U.S.

Barr: Consumer Agency Will Help Credit Unions

WASHINGTON -- The top Treasury Department official on credit unions said that the proposed agency to regulate consumer financial products will give credit unions a more stable regulatory environment in which to operate.

NCUA Board Chairman Matz Urges Credit Unions to Balance Growth and Soundness

WASHINGTON -- Credit unions should aim to serve 100 million members by 2015 while paying careful attention to matters of financial soundness, NCUA Board Chairman Debbie Matz told attendees at CUNA's Governmental Affairs Conference.

Mica Urges Positive Attitude

WASHINGTON -- President/CEO Dan Mica said having a positive attitude and taking advantage of technological advances will help credit unions grow and play a strong part in creating a long period of prosperity.

Greenspan: Employment Woes To Continue

By Claude R. Marx

WASHINGTON -- Even when companies start hiring again, it will be some time before there is a serious dent in the unemployment rate, former Federal Reserve Chairman Alan Greenspan told attendees of CUNA's Governmental Affairs Conference.

Hyland Eyes Future; Fryzel Urges Activism

By Claude R. Marx

WASHINGTON -- NCUA Board Member Gigi Hyland said credit unions will thrive in the future, while Board Member Michael Fryzel urged credit unions to use their good reputation as a basis for getting legislative priorities passed by Congress.

Wegner Awards Celebrate Kids, Immigrants

By David Morrison

WASHINGTON -- Credit union leaders and executives celebrated some of their industry's efforts to help students and immigrants better their financial lives at the National Credit Union Foundation's 2010 Wegner Awards dinner.

Business Lending Challenges and Opportunities for Credit Unions

Credit Union Times asked leaders of some of the industry's business lending CUSOs, "What will be the greatest challenge and opportunity for credit unions and their business lending programs in 2010?"

Small Businesses Remain Ripe for Credit Union Opportunities

Aggressively seeking the membership of small businesses has not traditionally been a strategy for most credit unions.

Credit Union MBL Portfolios Still Strong Despite Origination Drop

While year-to-date member business loan originations have fallen by $2.12 billion as of Sept. 30, 2009, outstanding balances increased over September 2008 levels to reach $28.9 billion, according to data from Callahan & Associates Inc.

People

Crescent Credit Union, Brockton, Mass., announced that after eight years as chairman of the credit union's board of directors, Herbert S. Nagle is passing the gavel to newly elected Chairman William Rosa.