Credit Union Times Magazine May-20, 2009

CU Trades Work to Minimize the Damage From Credit Card Legislation

By Claude R. Marx

CUNA and NAFCU were working to minimize the damage to credit unions on interchange fees and other aspects of a bill to strengthen credit card regulation that was being debated in the Senate at press time.

U.S. Central Reports $687 Million First-Quarter 2009 Impairment

By Heather Anderson

The $32 billion U.S. Central Federal Credit Union reported last week a $687 million other than temporary impairment for first-quarter 2009.

Lawmakers Are Still Discussing Next Step for Stabilization Plan

By Claude R. Marx

The fate of the stabilization fund for corporate credit unions could be decided in the House this week as a congressional panel directs its attention to the health of the corporate credit unions.

TNB Card Services Sells Its $300M Agent-Issuing Portfolio to Bank Unit

By David Morrison

The ongoing recession pulled down another firm last week when TNB Card Services announced the sale of its $300 million portfolio

Texans CU Lending CUSO Files Loan Breach Suit vs. Coastal FCU

By Michelle A. Samaad

A lawsuit has been filed by Credit Union Liquidity Services LLC, a Texans Credit Union CUSO,

NCUA Still in Housing Business

The NCUA will remain the owner of houses in Florida, at least for the time being.

PULSE and MoneyPass Team Up for Expanded Surcharge-Free ATM Access

By David Morrison

Credit unions now have another option to provide members surcharge-free ATM access.

NCUA Attempts to Stablize Eastern Financial, Mulls Future Actions

By Michelle A. Samaad

Since Eastern Financial Florida Credit Union was placed in conservatorship more than three weeks ago,

NCUA Bans Seven Former Credit Union Employees From Financial Institutions

By Claude R. Marx

Seven former credit union employees have been banned from working at federally insured financial institutions because they have been convicted or pled guilty to crimes or agreed to a consent decree.

Invest in America Fortifies Chrysler Relationship Despite Bankruptcy

By Lindsey Siegriest

Not long after Chrysler announced it was filing for bankruptcy, the Big Three automaker also announced it was reinstating incentives for the Invest in America program.

Sale of Low-Priced Cars Brings Consumers into Michigan First CU

By Lindsey Siegriest

A two-day car sale held by Michigan First Credit Union not only exceeded previous years numbers in total cars sold,

Murray Assesses Corporate CUs

By Claude R. Marx

GREENBELT, Md. -- The NCUA should be careful when revamping the corporate credit union system so as not to deprive natural person credit unions of vital services,

California MBL CUSO Reports Strong Business Loan Demand

By Michelle A. Samaad

With 2008's loan portfolio activity passing 2007's by 32%, Member Business Services said the momentum is continuing despite California being among the country's hardest hit states when it comes to lending.

SBA Reinvigorated by Lenders Coming Back to Agency's Loan Programs

By Michelle A. Samaad

Like her predecessors, Karen Mills has taken up the torch of increasing the number of credit unions that are Small Business Administration lenders.

NCUA: Risk Concentration, Regulation Work at Any Business Lending Level

By Michelle A. Samaad

While raising the 12.25% member business lending threshold has been a front burner issue for the credit union industry for some time,

Collateral Protection Insurance Business Grows in Hard Times

By Lindsey Siegriest

In times of financial struggle, some of the first things that people let fall by the wayside are car payments and car insurance payments.

Stakes Are High for Dodd on Card Issue

By Claude R. Marx

Though Senate Banking Committee Chairman Christopher Dodd (D-Conn.) has for a long time been interested in clamping down on what he sees as misleading practices

Pacific Service CU Entices Members With Four New Checking Accounts

By Lindsey Siegriest

To combat a low penetration rate on transaction accounts, Pacific Service Credit Union has launched four new checking accounts.

WesCorp's Johnston to Podcast to Consumers

By Heather Anderson

Western Corporate Federal Credit Union is preparing to launch a consumer economic podcast that features Dwight Johnston, vice president of economic and market research.

LoanLink Call Support For CUSN Clients

Credit Union Service Network clients can now receive external call center support services through CUNA Mutual Group's LoanLink Center.

I Think I Can, I Think...: Little CUSO Aims at Big Boys With Loan-Lead Generator

By Marc Rapport

Chris Langley is looking to beat the big boys in lender lead generation at their own game, and he's inviting his credit union colleagues to join in.

Hawthorne Goes Mobile

Hawthorne Credit Union in Naperville, Ill., is now offering mobile banking.

Michigan First Credit Union Launches Online PFM Presence

Michigan First Credit Union is now offering its 71,000 members an Internet banking Web site that includes the features of personal finance management software.

PSCU Processing Revved Up by Metastorm

PSCU Financial Services is now processing more than a million messages a day on a new gateway data hub centered on software from Metastorm,

Some HR Departments Turn to Automation as Budgets Tighten

By Eileen Courter

As credit unions keep an even closer eye on budgets, HR departments scurry to adjust salaries and benefits and make certain their credit unions are operating as efficiently as possible.

The Golden Chain: Engaged Employees, Customer Response, Credit Union Growth

By Claude R. Marx

In a highly competitive environment, a credit union must have the right people in place doing the right things at the right time to continually create value internally that is felt externally.

Consultant Says Leaders Should Communicate More With Employees

By Eileen Courter

Coping with tough times means communicating with employees-and too many top executives aren't doing a good job.

Discover and Act on the New Three R's of Organizational Development

Credit union recruiting and retention is a different ballgame these days. The poor economy, loan losses, corporate stabilization costs and market uncertainty demand

Washington's Fickle Focus Turns to CUs

By Sarah Snell Cooke

Washington is still finding time for credit unions despite all the turmoil in the financial markets and the economy.

AWARDS

Connex Credit Union, North Haven, Conn., has been recognized by the Connecticut Credit Union Association as the No. 1 credit union

CUTimes.com Poll Shows Need for CU Development Education

The CUTimes.com poll published on April 29 shows an urgent need for Credit Union Development Education training on the competitive advantages of the credit union charter.

Where's NCUA Mea Culpa?

To burden credit unions with the cost of funding NCUA's Stabilization Plan during a recession merits comment.

Are Credit Unions Destined to Go the Way of Detroit or Tokyo?

Jeffrey Pfeffer, a Stanford professor and author, points out that Detroit automakers have pandered to Wall Street rather than listen to their customers,

Is Your CU Ready for Critical Consumer Compliance Changes?

Credit unions feel as if they are being hit in all directions. From the overall economic downturn to the corporate credit union crisis to the mortgage lending mess,

Stress Testing the CU Business Model: Is the 'Cost of Carry' Too Heavy?

There has never been a more appropriate time for all financial institutions, particularly CUs,

STAKING OUT THE STATS

Data from Callahan & Associates' "First Look" program showed that while credit union operating expenses have increased from last year,

BRANCHING OUT

Navy Federal Credit Union, Vienna, Va., opened its newest branch in Stafford. The branch will serve more than 15,000 Department of Defense personnel and