Credit Union Times Magazine May-05, 2010

High Hurdles to Dump Legacy Assets

By Heather Anderson

Federal accounting rules, deteriorating securities and an increasing corporate bailout price tag are hurdles the NCUA will have to overcome in its quest to rid corporates of toxic investments.

Corporate Losses Have Not Yet Reached the Bottom

By Heather Anderson

Western Corporate FCU's investments are performing worse than previously estimated by the NCUA and Clayton Holdings, according to new OTTIs recorded for March.

NCUA Unveils Payday Loan Rules; Matz Urges Caution

By Claude R. Marx

ALEXANDRIA, Va. -- Federal credit union alternatives to payday loans could range from $200 to $1,000,

St. Paul Croatian FCU Conserved, While Tracy FCU Is Liquidated

By Claude R. Marx

The NCUA took over the operations of one credit union and ended its management of another.

Silver State Is Under Consent Order, Will Close Five Branches

By Jim Rubenstein

The troubled Silver State Schools Credit Union, Nevada's largest, is having to do more belt-tightening and announced the closure of five more branches coming in June as it operates under a consent order with state regulators.

Bredemeyer Retires From AEA

By Jim Rubenstein

One of Arizona's most troubled credit unions, the $370 million AEA Federal of Yuma, has replaced its veteran CEO, Ken Bredemeyer, who is retiring after a 31-year career.

Trades Donate Money to Campaign of Ways and Means Committee Chairman

By Claude R. Marx

Within two weeks of the ascension of Rep. Sander Levin (D-Mich.) to the chairmanship of the House Ways and Means Committee,

Truliant FCU Marketer Tweets His Way to the Top of CU Twitterverse

By Myriam DiGiovanni

Everyone is talking about Twitter, but if you still don't get it, help is on the way.

Alabama CUs Take Gains in Stride

By Jim Rubenstein

Alabama credit unions may certainly not be alone, but they are witnessing big gains in savings this spring due in part to all that good press lavished on the industry over the last few months,

Biz Kid$ Ring Bell at NYSE

The Biz Kid$ have made it to Wall Street, taking part in that classic ceremony-ringing the closing bell at the New York Stock Exchange.

CUNA Depletes U.S. Central Capital

By Claude R. Marx

CUNA depleted all of its membership capital shares-worth $941,000-in U.S. Central FCU, the association said.

Chartway FCU Vice President Blum Urges No Changes on Interchange Fees

By Claude R. Marx

Any change to the rules regarding interchange fees would "provide an advantage to large financial institutions at the expense of credit unions and other small financial services providers,"

After Three Strikes, the Senate Puts Regulatory Reform In Play

By Claude R. Marx

After almost a week of legislative wrangling and maneuvering, at press time the Senate was beginning what many expect to be several weeks of debate on a measure to overhaul the system for regulating financial services.

Texas CUs in Merger

Two San Antonio credit unions, the $150 million River City FCU and the $4 million Southeast Community CU,

CUNA Councils: Merger Competency Needed Skill

By Claude R. Marx

The growing merger trend has created a new set of "merger competency" skills that are now being added to CEO r?sum?s,

WESCO's 3rd Data Center

Eight-year-old WESCO Net is about to open its third data center as the offshoot of the CU*Answers core processing CUSO expands its capacity for Web and managed hosting,

FIS Survey Finds Interest In e-Portal P2P Payments

Person-to-person payments online or by mobile channels sparked the interest of about half of the consumers interviewed in a recent national study.

Merger Service Offered

Recognizing the heightened interest in mergers, the Texas Credit Union League is launching a matchmaker service for credit unions involved in takeovers.

Help Wanted: A Generation in Debt Seeking Advice and Education

By Lindsey Siegriest

While flipping through the channels one night, I landed on a special on the history of America.

Higher Credit Union Governance Principles Can Help Ensure Member Value

In response to economic disruptions, the federal government is asserting higher standards of governance for all financial services institutions,

Seeking Out the Stories That Lurk Behind the Numbers

By Sarah Snell Cooke

Credit unions deal in a world of numbers every day; not so much for the writer. However,

On Secondary Capital and Low-Income CUs

Sarah Snell Cooke' s column ["Secondary Capital Prescription," CU Times, April 21] quotes extensively from the NCUA's recent white paper describing the "mixed results" of the use of secondary capital by low-income credit unions.

In These Times, NCUA Should Tweak Reg Flex Not Repeal It

By Claude R. Marx

The NCUA has proposed changes to part 742 of the rules and regulations as they pertain to fixed assets,

Indirect Auto Lending: To Be or Not to Be

Many financial institutions in America are visiting the topic of indirect auto lending. Some are considering entering the business for the first time.

CUSO Execs Express Frustrations With Funding and Credit Union Buy In

By Michelle A. Samaad

LAS VEGAS -- With all the hoopla on the beauty of collaboration, some CUSO executives recently shared some of the frustrations they continue to deal with on a daily basis.

CUSOs Brace for Wave of Regs

By Michelle A. Samaad

LAS VEGAS -- Where do CUSOs fit as credit unions wonder if the legislative and regulative worlds are "spinning in sync?"

Innovation Means Credit Unions Knowing Their Capacity to Fail

By Michelle A. Samaad

LAS VEGAS -- Realizing that failures could occur over and over and might not ever yield results is at the core of innovation,

Next Generation of CUSOs Will Offer More Interactivity and Fewer Fights

By Michelle A. Samaad

LAS VEGAS -- Looking ahead, NACUSO is putting plans in place to facilitate the development of a new CUSO model built on a more integrated network and aims to quell fighting over capturing business from new credit union signees.

Past Guarantees Nothing

By Michelle A. Samaad

LAS VEGAS -- As industries evolve in the social media and international realms, credit unions that cling to the traditional methods of doing businesses may get left behind,

'Power to the People' Is at the Heart of Social Media Channels

By Michelle A. Samaad

LAS VEGAS -- With all of the encouragement and warnings of being left behind,

Sundance Kid's Leap Has a CU Spin

By Michelle A. Samaad

LAS VEGAS -- Jumping off a mountain cliff into a stream rather than fighting off a band of unknowns,

PEOPLE

Service Credit Union, Portsmouth, N.H., announced the appointment of William Arnold as chief information officer.