Credit Union Times Magazine October-06, 2010

Few Revisions to Final Corp Regs

By Heather Anderson

NCUA's final Part 704 corporate rules, released Sept. 24, contained few revisions to the agency's initial proposal. Most rules will become effective 90 days following the publication of final regulations in The National Register.

CEOs and Volunteers Dismissed By NCUA at Seized Corporates

By Heather Anderson

The three corporate credit unions placed into conservatorship Sept. 24 bring the total of seized corporates to five. Operations will continue at all five corporates.

Legacy Assets Go to 'Bad Banks'

By Heather Anderson

After months of speculation, the NCUA revealed on Sept. 24 a "good bank, bad bank" plan to deal with corporate legacy assets.

CUSOs Seek Operational Calm

By Michelle A. Samaad

As the birth of a new corporate credit union model emerges, the CUSOs owned by the three corporates that were recently placed

Corporate Aftermath: Trades Go All Out to Counter 'Bailout' Message

By Jim Rubenstein

Pulling out all the stops, the credit union trades were in damage control mode all last week to tamp down public worries about credit union safety and soundness and a "credit union bailout,"

Credit Unions and Leagues Cautiously Ponder Alternatives to Corporates

By Jim Rubenstein

The decision-making process began in earnest last week among credit union managers and the leaders of state leagues on the next step in dealing with possible alternate vendors for wholesale services as a result of the corporate seizures.

Trade PACs Are Tilting Toward Democrats but Not Ignoring the GOP

By Claude R. Marx

In politics, the party that controls Congress usually gets the lion's share of the campaign money.

TMG to Provide CUs With Anti-Skimming Technology

TMG, a card processing CUSO affiliated with the Iowa Credit Union League, announced that it is making anti-skimming technology available to its member CUs that seek additional protection for their ATMs.

NCUA Issues Prohibitions

The NCUA issued orders prohibiting two former credit union employees from

CUNA Survey Finds Paychecks Shrank Along With Bonus Awards

By Eileen Courter

If your paycheck shrank a little last year, you're not alone.

CO-OP Offers CUs Aid in Replacing Corp Services

At the same time it affirmed its confidence in corporate credit unions, CO-OP Financial Services yesterday also made it clear that it was willing to offer its services in helping CUs move to alternate payment processors.

Secret Assets Sale Repaid $10B in Treasury Loans

The revelation that NCUA sold $800 million worth of U.S. Central FCU and Western Corporate FCU securities in mid-September

CUs Gear Up for Exam Changes Wrought by Financial Overhaul Bill

By Claude R. Marx

More work preparing for exams and additional compliance requirements throughout the year.

Baptist Hospital Becomes Life Credit Union

After 52 years Baptist Hospital Credit Union has reinvented itself as Life Credit Union.

Three CUs Commit To EasCorp RDC

Three more billion-dollar credit unions have committed to the DeposZip Mobile remote-deposit capture solution offered by Vertifi Software LLC, the tech subsidiary of EasCorp in Burlington, Mass.

Identity Protection Week Set in October

The third annual nationwide Protect Your Identity Week will be observed Oct. 17-23, a joint project of the Council of Better Business Bureaus and the National Foundation for Credit Counseling.

Ent Goes Live With Web

Ent Federal Credit Union has launched its new online banking system, featuring a number of new personal finance and security features, according to the $3.1 billion, 201,000-member institution in Colorado Springs, Colo.

More Business Closures, Fewer Openings in 2009

According to new data from the SBA, an estimated 552,600 new employer firms opened for business and 660,900 firms closed shop in 2009.

CU Aids Stone Mill Rehab

The GPO Federal Credit Union will administer a $650,000 government loan to renovate a stone mill built in 1839 to include tourism and business spaces.

Biz Kid$ Receives $700,000 Donation

Biz Kid$, the industry-funded and nationally syndicated financial education program on PBS,

Lafayette FCU Is Launching Business Analytics Solution

By Marc Rapport

Lafayette Federal Credit Union is joining the business analytics revolution, deploying the kind of sophisticated technology that used to be found only at big corporations to help it better

Worst-Case Scenario Data Recovery: Replication Comes to the Fore

By Marc Rapport

With emerging trends in data replication, credit unions now have a cost-effective, efficient and more technically advanced alternative to current tape-based disaster-recovery scenarios.

Indiana CU Gets Deep Target

A $51 million Indiana credit union is the first of 350 credit unions running on the HomeCU online banking platform to deploy the targeted banner solution from Deep Target Inc.

New Fraud Alert Network

A new fraud-fighting network launched by Microsoft and a cyber-crime fighting alliance includes a pair of Washington state credit unions among its first participants.

Phishers Are Spreading Their Nets

Financial institutions are not alone. A leading cyberfraud watchdog group said that social networking, online classifieds and online gaming industries are increasingly the focus of phishing gangs out looking for personal account information.

NACHA Rolls Out Direct Payments

Full commercialization of the new Secure Vault Payments network from NACHA has gotten under way, the organization said.

What Credit Unions Need and What They Don't Need

By Sarah Snell Cooke

Credit unions could use a charismatic leader right now. Who is going to rallies the troops to get this splintering industry to-well-cooperate

Life Events Data Help Predict Consumer Needs

When it comes to marketing today, whether at the local or national level, online or offline, knowledge of consumer behaviors and life events has become an essential tool for customer acquisition and retention. Because these life events

People

Andrews Federal Credit Union, Suitland, Md., announced Jim Hayes as its new executive vice president/chief financial officer.

Credit Unions Can Harness Our Passion for Causes

By Marygrace Murphy

Spread the word to young people in your area that, like buying locally grown food from a farmer's market or purchasing fair trade products, joining your credit union is another way they can vote with their dollars to make the world a better place.

Celent Finds Many CUs Give Only Lip Service to Branch Technology

A recent Celent report finds that while the majority of financial institutions said improving branch sales and service performance was their top branch-channel priority, few have invested in technology to help realize that goal.

OnPoint Expands by Three

OnPoint Community Credit Union has branched out in Deschutes County. The Portland, Ore.-based credit union's three new branches will create 26 jobs for the Bend and Redmond communities.

InvestTex CU Branches Into Houston

InvesTex Credit Union recently broke ground on a new branch in the Houston Heights area to relocate current operations from its North Loop 610 West location.