Credit Union Times Magazine March 28, 2012

Featured Story

Front Page News


  • Banks Are Quietly Offering Business Interest Checking

    It’s been nearly two years since the passage of the Dodd-Frank Wall Street Reform Act, which for the first time since the Great Depression allows interest to be paid on business checking accounts.

  • Small Credit Unions Team Up on Back-Office Operations

    When Credit Union Times asked Fred Johnson, president/CEO for Credit Union Executives Society, what he sees as an emerging trend in the way credit unions are run, one of his responses was “collaboration.”

  • Warning On New Members

    While Bank Transfer Day helped to boost membership to record numbers, the industry could see an exodus of some of its more profitable members in 2013 if credit unions are not capitalizing on those relationships.

  • Mercer Named CUNA Chairman

    CUNA has named Mike Mercer, president/CEO of Georgia Credit Union Affiliates, its new board chairman.

  • CUs Defend Durbin Cap

    Credit unions have argued before U.S. District Judge Richard Leon in defense of the Federal Reserve's existing Durbin amendment regulation.

  • Three CU Pros Win Awards

    Three credit union marketing and business development professionals were recently honored for their achievements during the CUNA Marketing and Business Development Council Conference held in New Orleans.

Editor-in-Chief's Column


  • Conference Debate: Is the CFPB CUs’ Friend or Foe?

    WASHINGTON—No issue at this year’s GAC was more polarizing than the new Consumer Financial Protection Bureau. Speakers, particularly politicians, were either completely against it or completely for it, depending upon which party they represented.

  • Panel Says CU Directors Must Face Up to Risk

    WASHINGTON—Credit unions necessarily involve risk. That is inescapable, said the panelists at a well-attended breakout at CUNA's Governmental Affairs Conference. The other, sharp side of that reality is that the NCUA has made it plain how the boards of directors oversee the risks faced by their credit unions will...

  • Attendees Bask in Credit Unions’ New-Found Media Stardom

    WASHINGTON—Despite the loss of interchange income and mounting compliance requirements, overall credit unions feel more confident about their future than in recent years. CUNA President/CEO Bill Cheney opened GAC last week by telling member credit unions that the cooperatives are on the rise thanks to recovering financials and unprecedented media...

  • Filene CEO Meyer Looks at CU Successes and Stumbles

    WASHINGTON—"We have done many things well, some less so," said Mark Meyer, CEO of Filene Research, in what was the closing general session talk at CUNA's GAC conference.

  • CEOs Share Advice With Aspiring Execs

    WASHINGTON—Entry-level employees who want to convert ideas into action should prepare written reports and collaborate with other departments before presenting proposals for change to CEOs.

Billlionaires Club

  • After Taking Flight, NASA FCU Adopts to Lean Times

    In 1949, seven employees at the National Advisory Council for Aeronautics formed a credit union. The agency was destined to become the National Aeronautics and Space Administration in 1958, on the cusp of a time period when the space race with the Soviet Union was to end with a man...

Letters to the editor

  • Join the Sorry Ranks Of Banks?

    I recently received an email from a group of Washington lawyers who ply various trades of a legal nature, including trying to convince credit unions that switching to a mutual charter (with the not-so-subtle understanding of a later move to stock) would be a great idea.


  • Board Competencies Beyond Fin Lit

    While there are multiple viewpoints on the federal credit union industry’s new efforts for directors to smarten up as mandated by the NCUA rule on director financial literacy, an upshot opportunity presents itself in the form of enhanced governance by directors.

  • Greening the Union: How CUs can Benefit from Sustainability

    Sustainability, which was once dismissed as an idealistic fad, is now a trillion dollar industry with corporate giants such as Walmart, McDonald’s and Coca-Cola scrambling to go green.

News Briefs

  • Reaching Hispanics

    Coopera has unveiled an improved online resource at to help credit unions reach the Hispanic market.

  • More MBL in Ala., Fla.

    Credit unions in Alabama and Florida are reporting an increase in member business loans, mirroring a trend seen across the country.

  • Taratuta Named CEO

    The board of directors of Georgia Heritage Federal Credit Union recently named Dale Taratuta as president/CEO.

  • SBA Simplifies

    A separate SBA loan approval and repurchase program would be established for credit unions under a new bill.

  • Survey Finds Investors Value CU Experience

    Some of the country’s biggest firms were ranked behind credit unions by investors describing their overall customer experience.

  • PSCU Rebrands

    PSCU Financial Services has shortened its name and lengthened its product list.

  • Rosendal CEO at Salal CU

    Russell Rosendal, former chief financial officer at Salal Credit Union, has been promoted to president/CEO.

In Memoriam

  • Shelly Clarke Passes

    Goldenwest Credit Union staffers are mourning the loss of longtime leader Shelley Clarke, who has died from brain cancer.


  • In a Surprise, Robert Schumacher Wins Anchor Award

    WASHINGTON—Robert Schumacher, longtime National Credit Union Foundation leader and volunteer, was a surprise recipient of an Anchor Award at the annual dinner honoring people and institutions that have exhibited particular leadership and innovation. Past Anchor Award winners have included former NCUA Board Chairman Dennis Dollar and the leaders of the...

  • Donations

Tech Bytes

  • Connection CU Uses KM Audit

    A new use for its knowledge management system recently helped the $23 million, 2,800-member Connection Credit Union in Silverdale, Wash., make an audit go easier, the credit union said.

  • CNP, Alloya Pact

    Core Network Processing LLC, a CUSO that provides core processing and an Internet portal to eight corporates, has inked a pact with Alloya Corporate Federal Credit Union for technology and related services.


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