Credit Union Times Magazine March 20, 2013

Core Systems: The Walking Undead

By Robert McGarvey

Credit union core systems are old, truly antique in computer terms, but they also seem to be immortal in most institutions.

Auto Lending Rates Rule the Road

By Michelle A. Samaad

More dealership alliances, better marketing, lower rates or a combination of all three?

Post-Sequester, Banks and CUs Poised to Aid Federal Workers

By Michelle A. Samaad

As the sequestration budget cuts enter their third week, it still remains to be seen how wide of an impact they will have on federal employees, their spending habits and whether they’ll put off taking on any new debt.

Big Data Offerings Is a Growing Trend Among CU Vendors

By David Morrison

More closely analyzing transaction data to better understand member behavior continued to make inroads with credit unions as another large credit union payment organization announced a new data analysis tool.

House OKs Privacy Bill

By Heather Anderson

The Eliminate Privacy Notice Confusion Act passed the House last week by voice vote. H.R. 749 would amend the Gramm-Leach-Bliley Act by eliminating a requirement that privacy policy notices be mailed to consumers annually. Should the bill pass the Senate and be signed by President Obama, the privacy mailing would...

BAI Tracks Rise of the Nonbank

By Robert McGarvey

PHOENIX — Too many fees, too little trust. That’s how a large segment of consumers see traditional financial institutions, said Lewis Goodwin, CEO of Provo, Utah’s Green Dot Bank, a subsidiary of Green Dot, the prepaid card company.

'Plain Language' Speaks

By Heather Anderson

ALEXANDRIA, Va. — The NCUA Board approved a new proposed rule–sort of–during its March 14 monthly meeting.

Credit Score Battles

By David Morrison

Thanks to increasing competion among data analytic firms, more consumers than ever before will have credit scores.

Demographic Turnover Presents Opportunities

By Sarah Snell Cooke

As the baby boomer generation begins to retire, women necessarily will play a crucial role in filling the open spaces. Our latest Women to Watch honoree, Wanda Chambers (see article, page 6), stated that “innovation is born from necessity,” and so goes the case for the promotion of female executives.

Women to Watch: Undaunted, VP Chambers Meets Challenges Head On

By Myriam DiGiovanni

While you can’t predict the future, Wanda Chambers, senior vice president of payment services at Suncoast Schools Federal Credit Union, believes in being prepared for it.

The Art of the Out of Court Settlement

By Michael Fryzel

Although I never actually checked, my guess is that the great majority of lawsuits that are filed seeking money damages never go to trial. Instead, they are settled between the parties out of court.

Leaders Lean Forward Into Opportunities Ahead

By Stuart R. Levine

This past Sunday, we watched the news talk shows featuring various governmental leaders from both sides of the aisle explain their positions on sequestration and its implications for the U.S economy. Despite the rhetoric and general mediocrity of the talking heads from Washington, D.C, I am very positive about this...

Creating Core Systems the Right Way

I am an architect of core processing systems. There are other things I do. of course. I have been a manager, a negotiator, an educator, a salesman, and when put all together, an entrepreneur. But who I am, and what gives me satisfaction is being the developer of systems that...

Branching ROI in a Convenience Culture

Millions of consumers have made the switch from banks to credit unions since Bank Transfer Day in 2011. This is good news but places pressure on the credit union industry to meet the needs of both existing members and those migrating from banks.

CLF Was Credit Union Liquidity Solution

By Dick Johnson

Some wise person once wrote, “If we always do what we have always done, we will always get what we always got.”

People 3-20-13

Want Growth? Check Your Corporate Culture

By Eileen Courter

As far as Jay Magulski and Mark Hudzik are concerned, growth isn’t something you turn over to the marketing or corporate development department and figure the job is done.

Looking Past Low-Income Credit Scores to Grow Profits

By David Morrison

When it comes to underwriting consumer loans, some community development credit unions have found success by looking at other factors besides credit scores.