Credit Union Times Magazine March-31, 2010

NCUA Inspector General Faults Agency on MBL Oversight

By Claude R. Marx

At a time when the NCUA and the trade groups are pushing Congress to raise the cap on member business loans, the agency's inspector general faulted its examiners for insufficient oversight.

Few Look for Corporate Alternatives

By Heather Anderson

Problems at corporate credit unions aren't driving a mass exodus of members seeking other providers.

Sen. Dodd's Bill Quickly Advances

By Claude R. Marx

Now the action goes back behind closed doors.

CDCU to Serve Underserved of Battle Creek

By David Morrison

The first community development credit union that the NCUA has chartered in 2010 is focused on serving the underserved in the community that many see as the home of breakfast cereal in the U.S.

GSE Players Spar in First Round

By David Morrison

If the debate over what to do about Fannie Mae and Freddie Mac were a boxing match, last week's hearing before the House Financial Services Committee would have been the first round.

Much Confusion Reigns as Credit Unions Evaluate the CDCI TARP Funding Offer

By David Morrison

The deadline for having at least started the process for accessing money under the U.S. Treasury's Community Development Capital Initiative program is rapidly approaching.

Miller: Southeast Corporate May Market Services to Replace U.S. Central

By Heather Anderson

Brad Miller stepped down from his position as executive director of the Association of Corporate Credit Unions in February to take over as president/CEO of the $3.3 billion Southeast Corporate Federal Credit Union.

Trades Are Ramping Up Campaign Giving as Primaries Approach

By Claude R. Marx

The campaign giving patterns of CUNA and NAFCU in February could be best described as the calm before the proverbial storm.

Two Ailing Sand State CUs Shed Branches and Shrink Loan Portfolios

By Jim Rubenstein

In separate moves, two of the struggling sand state credit unions, the $851 million Arrowhead Central CU in California and the $370 million AEA FCU of Yuma, Ariz., found themselves suffering more of the recession's fallout this month.

Are CUs Missing the Mark in Serving Gay Members?

By Heather Anderson

Credit unions that don't consider their gay, lesbian and transgendered members are missing out on a huge opportunity. So said Thomas Bowen, operations project coordinator at the $100 million Money One Federal Credit Union.

Louisiana Corporate Releases 2009 Audit

The $159 million Louisiana Corporate Credit Union released its 2009 audit March 23, possibly the first corporate to do so, according to president/CEO David Savoie.

Accounting Firm Latest Defendant in Effort to Recoup New London Losses

By Michelle A. Samaad

Nearly two months after the NCUA filed a suit against Wells Fargo for negligence in the case of a deceased financial adviser, the agency has filed a complaint against the CU's accounting firm to recover losses.

Regulator Outlines Problem Areas

ATLANTIC CITY, N.J. -- The NCUA is honing in on certain activities and figures for 2010, NCUA Associate Region II Director for Operations Herb Yolles told New Jersey credit unions last week.

Business Leader Highlights CU Governance Weaknesses

ATLANTIC CITY, N.J. -- Corporate governance consultant Stuart Levine picked apart problems with credit union governance through a series of interactive questions.

CUs Must Take Responsibility For Financial State of Affairs

ATLANTIC CITY, N.J. -- Brett Christensen, owner of CU Lending Advice, LLC, told New Jersey credit union executives and board members they need to own up to the financial problems in their own shops.

With Industry at a Crossroads, Time to Realize Then Prioritize

The financial services industry and particularly credit unions are at a crossroads right now. Many toss the term crossroads around every time a tweak occurs, but current circumstances are exactly what the word was created for.

We Don't Need New Ways to Increase Insurance Fund Risk

Stuart Perlitsh said we build capital thru earnings (Feb. 24 Letter), while Tom Dorety thinks we need to build capital through some new alternative capital (March 10 Letter).

Don't Mix Corporates

Be careful who you listen to on corporate network regulation.

Big Bang: Can Your Strategic Plan Accommodate The Special Assessment in 2010 and Beyond?

As credit union management and boards learn more about the amount of toxic assets in corporate and natural person credit unions, their conclusion about assessments changes from "something we have to live with" to "we can't live with that."

Differentiation Should Be the Goal and the Barrier to Achievement Is Us

I am not an economist, nor do I play one on TV. My only exposure to economic theory was at Western CUNA Management School with the great Jim Likens.

Portland Credit Union Reinforces Its Roots With Educational Prizes

In a nod to its educational roots, OnPoint Community Credit Union, in partnership with KGW-TV recently launched its first annual Prize for Excellence in Education contest.

Co-op Services CU's Viral Cash Giveaway Campaign Sparks More Charity

By Myriam DiGiovanni

Imagine having 100 opportunities to show just how unique your credit union is.

People

Charter Oak Federal Credit Union, Groton, Conn., announced the retirement of Rick W. Stout, chief operations officer.