Credit Union Times Magazine May 23, 2012

Amazon, Filene Team Up to Boost Credit Union Cards

By David Morrison

The Filene Research Institute has partnered with Amazon to offer credit unions a unique opportunity to market their credit cards online.

SECU’s Safety and Soundness Questioned by NCUA

By Heather Anderson

An NCUA Office of Inspector General’s investigative report revealed that the federal regulator questions the safety and soundness of the $25 billion State Employees’ Credit Union, the nation’s second largest.

Savoie Likes Louisiana Corporates Numbers

By Heather Anderson

At first glance, Louisiana Corporate CU’s 2011 financial report shows an institution that increased total capital by $442,565 over the previous year, for a total of $8.9 million. However, the $218 million corporate will have to contend with $2.2 million worth of membership capital shares on notice.

Auto Leases Are a Growing CU Business

By Michelle A. Samaad

As the prices for new and used cars edge higher, more consumers are opting to ride off the dealership’s lot in a leased vehicle.

Losses Shake Markets

By Michelle A. Smaad

The aftermath of a $2 billion trading loss at JPMorgan Chase & Co., continues to spread both in and outside the company.

Credit Unions Beat Banks in Weathering Tough Times, Says Study

By Michelle A. Samaad

Even in the middle of recessions and the unemployment and foreclosures that come with them, credit unions have proven that they can weather downturns.

Large Colorado Credit Unions Aid Smaller Brethren

By Jim Rubenstein

An ad hoc group of small Colorado credit unions is getting help from their larger brethren to cope with compliance and social media challenges.

Credit Union Fashions for Any Season: Editor's Column

By Sarah Snell Cooke

Keep an eye on these hot little numbers coming down the credit union runway this season. It could help your institution become the next top credit union.

Good Member Service Alone Will Doom Your CU, Says Marketer Weber

By Myriam DiGiovanni

Who knew that the little boy who’d started a newspaper or held a neighborhood carnival where he could sell his Quick Draw McGraw and other toys would be a financial marketing strategist and a top industry consultant? Well, actually Mark Weber, president/CEO of Weber Marketing Group, did- sort of.

Digital Signature Signings at Complete Data Products

By Marc Rapport

Ten more credit unions have signed on for Web-based digital signature software from Complete Data Products of Troy, Mich., the company said.

Corelations Lands 10th Credit Union as Core Client

By Marc Rapport

A San Diego neighbor–the $177 million Miramar Federal Credit Union–has become the 10th client of startup core processor Corelation Inc.

Joint Mobile, RDC Solution From Ensenta, MShift

By Marc Rapport

Ensenta and MShift have partnered in a joint mobile banking and remote deposit checking deployment now in place at five credit unions, the companies said.

Corporate eCom Now CO-OP Bill Pay

By Marc Rapport

A few months after buying it, CO-OP Financial Services has rebranded the former Corporate Network eCom bill pay operation as CO-OP Bill Pay.

Automated Compliance Software Makes Gains

By Marc Rapport

More than 175 credit unions and banks installed automated compliance software from Wolters Kluwer Financial Services in the first quarter of 2012, the company said.

Texas CUs Adopt Electronic Lien, Title Program

By Marc Rapport

Two years after their partnership formed, a Texas Credit Union League subsidiary and a Philadelphia vendor said they now are serving more than 80% of the state’s credit unions participating in the Texas electronic lien and title program.

KBR CU Uses Sharetec Core Processing

By Marc Rapport

Bradford-Scott Data Corp. in Indianapolis said the $22 million KBR Credit Union in Tacoma, Wash., said it has begun using its Sharetec core processing system.

Alternatives FCU Plans Symitar Conversion

The $78 million Alternatives Federal Credit Union in Ithaca, N.Y., plans to convert to the Symitar Episys core processing system through the service bureau at Synergent Technology Services of Portland, Maine, the company said.

Strong Underwriting Puts Muscle Behind Indirect Loans

By Michelle A. Samaad

Despite the frustrations that some credit unions face with building long-term, multiple product and service relationships with members who come through the door via indirect lending, the loans have continued to be a meaty portion in many portfolios.

Delinquences at Credit Unions Remain Low

From delinquencies to repossessions, credit unions continue to hold their own with keeping their rates low compared to other financial institutions.

CU Members Mortgage Has a Big Birthday This Year

By David Morrison

CU Members Mortgage is one of the largest for-profit providers of mortgage services for credit unions turns 30 years old this year and said it stands ready to enter its next decade armed with the latest in mortgage origination and servicing technology.

Guest Opinion: Disciplined Auto Lending Provides Calm Against the Storm

By Melinda Zabritski

Just about a year ago, I wrote in these pages that credit unions must have felt like they were riding a roller coaster with their auto lending programs. After all, their market share had gone up and down as the overall auto lending industry had several chaotic years.

Guest Opinion: Reviving Credit Union Democracy

By Matthew Cropp

After sitting through years of my credit union's sparsely attended annual meetings, which seemed to be held for the sole reason that doing so is required by law, I decided to try something new this year and run for the board of directors.

Lockheed FCU to Become Logix FCU

By Jim Rubenstein

After a year on the drawing boards, the $3.3 billion Lockheed Federal Credit Union will become Logix FCU on July 9, a name change reflecting a lessening of formal ties to its original corporate sponsor.

Insight CU FOM Bid Approved

By Staff Writer

George R. Davis, president/CEO of Insight Credit Union, announced that the Orlando, Fla.-based credit union has received approval from the state of Florida for its request to expand the credit union’s field of membership to include the counties of Levy, Dixie, Taylor, Gilchrist, Columbia and Suwanee in West Central Florida.

Rawls, Fla. CU Director, to Retire

By Staff Writer

After 55 years, John Rawls announced his plans for retirement from the Florida Credit Union board of directors this spring.

Freakonomics Keynote at NAFCU Meeting

By Staff Writer

Freakonomics author Stephen Dubner will provide credit unions with the keys to unlocking member satisfaction at NAFCU’s 45th Annual Conference and Exhibition, July 24-28, at the Gaylord Opryland Resort and Convention Center in Nashville, Tenn.

Coopera New CEO is De Dios

By Marc Rapport

Affiliates Management Co., Coopera’s parent company, announced that Miriam De Dios is Coopera’s new chief executive officer.

Hyland Named Chair at NeighborWorks

By Heather Anderson

NeighborWorks America announced that Gigi Hyland has been named its board chair. Hyland succeeds Thomas J. Curry. Hyland has served as the NCUA’s representative to the NeighborWorks America Board since 2008.

Kudos on Growth In Home Loans

By Mike Corn

It was encouraging to read in the that U.S. credit unions set a new record for mortgage originations during the first quarter of 2012. (CUTimes.com, May 10, “Credit Unions Notch Record Share of Mortgage Market.”.

Corrections

An article in the May 16 issue, “Social Media Strategy: Targeted Forethought Needed,” Health Care Credit Union was incorrectly listed as headquartered in Indiana. Health Care CU is based in Salt Lake City, Utah.