Credit Union Times Magazine May 11, 2011

Some CUs Bury the Hatchet With a Big Bank

By Robert McGarvey

Cincinnati-based Fifth Third Bank continues to gain visibility as an alternative to corporate credit unions, but senior bank executives also made plain that their approach to credit unions fundamentally differs from a corporate’s.

NCUA Stands Firm on RegFlex Rule

By Claude R. Marx

Citing safety and soundness concerns, the NCUA is rejecting pleas by NAFCU and some credit unions to reverse its recent decision and allow well- capitalized credit unions to be exempt from restrictions on how much they can spend on fixed assets.

NCUA, Trades Push on Delaying Implementation of Fed Rules on Debit Interchange Rates

By Claude R. Marx

The Senate came back last week and didn’t take up legislation to delay the delayed implementation of the Fed's rule regulating debit interchange rates. But the NCUA and trade groups weighed in again about the impact on small issuers.

New Jersey Grand Jury Returns Indictment Against Former Paragon Federal Credit Union Employee

By David Morrison

A grand jury in Bergen County, N.J., has returned an indictment against a former Paragon FCU employee in an alleged mortgage fraud scheme.

Mark Sievewright Takes Over as Fiserv CU Division Chief

By Marc Rapport

Mark Sievewright now gets to put his thoughts into action, and he said he hears that a lot.

Tornadoes Across South Wreak Havoc, Spur Credit Unions to Action

By Jim Rubenstein

The misery index for credit union managers, employees and members who survived the April 27 sweep of killer tornadoes across seven states was no less than that shared by most residents.

GOP Moves to Revamp Consumer Financial Protection Bureau

By Claude R. Marx

House Republicans last week took the first steps to change the structure of the new consumer protection bureau in a way that Democrats say would weaken it.

Double-Digit Growth in Card Programs at American Airlines Credit Union

By David Morrison

The $5.3 billion American Airlines Credit Union reported that its relatively young credit card program has remained strong during the Great Recession.

Jury: Online Resources Owes Matt Lawlor $5.3 Million

By Marc Rapport

Twenty years after he helped launch one of the first companies to succeed in the new world of Internet banking, Matt Lawlor was forced out of his job as chairman/CEO of Online Resources Corp. by a board dissatisfied with the publicly held company’s financial performance.

Open Solutions App Store Linked to ‘Disruptive’ Leadership

By Marc Rapport

Open Solutions Inc. has opened an online store of its own for the financial services technology company and its customers alike to share applications they have developed.

Lawyer, Speaker Daniel Pink Is Accidental Expert on the Business of Business

By David Morrison

Daniel Pink, the author of four books on business management and speaker at CUNA’s upcoming America's Credit Union Conference, is upfront about coming to his interest in business and management accidentally.

Competing With Banks Is Not Just About Pricing

By Sarah Snell Cooke

Our May 18 issue will feature opposing viewpoints on whether or not to branch. Field of membership definitely plays a factor as will resources.

Will Taxation Lead to a Charter Trap?

By Alan D. Theriault

Taxation fears are once again permeating the thoughts of credit union leaders.

Fixing a Hole

Alternative Capital Plans Are a No-Go from the Word Go

By Henry Wirz

NCUA recently released a white paper on alternative capital. The question most people ask is whether credit unions will ever get alternative capital. I think the more interesting question is whether credit unions can make alternative capital work in a member-owned cooperative. I would say the answer is that alternative...

Cyber Thieves Send Funds to China, Credit Unions and Community Banks Warned

By Marc Rapport

Credit unions and community banks are being warned about a cyber scam that’s sent $11 million so far to Chinese banks.

CUNA Mutual Webinar Focuses on Technology, Features Rick Roy

By Marc Rapport

CUNA Mutual’s senior technologist will be the presenter at the company’s next session of its Discovery Webinar series for 2011.

CRIF Buys Cypress Software Systems

By Marc Rapport

Cypress Software Systems has been added to the list of U.S. loan origination automation specialists owned by CRIF from Bologna, Italy.

Sterling Nielsen Named 'Most Influential' by Utah Business Magazine

Sterling Nielsen, president/CEO of Mountain America Credit Union, has been recognized as one of Utah’s Most Influential People for 2011 by Utah Business magazine.

Wescom Resources Group Adds Geezeo Personal Financial Management Solution to Lineup

By Marc Rapport

Geezeo said its personal financial management and Web-based marketing solutions will now be offered by Wescom Resources Group.

Paul Parish to Retire From Wings Financial

By Michelle A. Samaad

Paul Parish, president/CEO of the $3.2 billion Wings Financial Credit Union, announced May 2 he will retire at the end of the year.

New Consulting Firm Launched by Longtime CU Executive Mark Arnold

The latest consultant offering his services to credit unions is well known to the industry.

USF FCU Drops Bullish Promo After PETA Protests

By Jim Rubenstein

The $380 million USF Federal Credit Union of Tampa has become a newfound favorite of PETA after it dropped a "running of the bulls" promotion.

Members Get a Second Chance With Niche Financing

By Michelle A. Samaad

When a teacher sought relief as she struggled to make the $500 monthly payments on her Volvo, Carolina Cooperative Federal Credit Union felt it had just the solution she needed.

States Look to Electronic Titles to Cut Costs, Prevent Fraud

By Michelle A. Samaad

To fill the potholes in crumbling budgets, some states are continuing to look for ways to cut expenses.

Driving Loans in the New Auto Lending Marketplace

By Joe Greenwald

With the recent turbulence in the marketplace, CUs must take a closer look at how they can be more competitive.

Slide Show: Credit Unions Hold Own in Auto Loan Performance

By Michelle A. Samaad

This slide show illustrates how, according to Experian, credit unions are holding their own when it comes to balances, delinquencies and repossessions.