Credit Union Times Magazine October-07, 2009

Nance Booted From U.S. Central Due to 'Divergent Views' on Future

By Heather Anderson

After just six months on the job, the NCUA's Office of Corporate Credit Unions dismissed U.S. Central Federal Credit Union CEO James L. Nance on Sept. 25.

Concerns About Money and Mutuality Dominate Town Hall

By Claude R. Marx

NATIONAL HARBOR, Md. -- Costs to natural persons and the issue of whether they have to be connected to corporate credit unions were key issues at last Wednesday's NCUA town hall meeting.

Corporate America Elevates Exam Dispute To Ombudsman

By Heather Anderson

Corporate America Credit Union has filed a complaint with the NCUA Ombudsman that alleges an unresolved six-month exam exception dispute has cost the corporate $1.5 million.

Northwest FCU Cuts Delinquencies, Costs With E-Mails

By Lindsey Siegriest

Facing rising delinquencies but not wanting to increase costs by hiring more collections staff, Northwest Federal Credit Union came up with a high-tech solution.

Years in the Making, CUNA, NAFCU Move Closer to Agreement on Alternative Capital

By Claude R. Marx

After years of disagreement on how to approach the issue of supplemental capital for credit unions, CUNA and NAFCU last week

MasterCard Releases Survey To Steal 7-Eleven's Thunder

By David Morrison

Federal lawmakers were subjected to a duel by data last week. The chain 7-Eleven brought a petition to Washington purporting to show consumer support

Keys FCU Placed in Voluntary Conservatorship; Clearstar Financial Assets Sold

The economic woes of the sand states continue to cause problems for credit unions.

TNB Changes Leaders, May Start Buying Card Portfolios Again

By David Morrison

Steve McDonald, the new CEO of credit union-owned Town North Bank said that while the bank has no immediate plans to rejoin the market for credit union card portfolios, he would not rule it out for the future.

Dodd Reiterates Pledge

By Claude R. Marx

Senate Banking Committee Chairman Christopher Dodd assured credit unions last week

Pennsylvania FOM Ruling Seen as States' Rights Watershed

By Jim Rubenstein

Pennsylvania credit unions along with CUNA have won a key legal victory from a state court in the five-year legal battle with the banking lobby over "well-defined" field of membership rules.

Fidelity National Completes Metavante Merger

By David Morrison

Fidelity National Information Services completed its merger with Metavante and has launched the new, larger firm into a new brand.

Fed Issues Proposed Rules To Implement Card Measure

By Claude R. Marx

The Federal Reserve last week approved proposed rules to end credit card issuers' ability to apply payments to the lowest interest balances first.

Members United Retained Deficit Will Deplete All PIC and 40% MCS

By Heather Anderson

The news coming out of Members United Corporate Federal Credit Union's August financial reports was a transaction that won't be recorded until September.

Conn. CU Vice Chairman Realizes His English Channel Dream

By Myriam DiGiovanni

Love helped American Eagle Federal Credit Union Board Vice Chairman Raymond Gandy enter the record books by successfully swimming the English Channel.

Hyland Holds Forth on Corporates, MBL and Other Issues Facing CUs

By Claude R. Marx

NCUA Board Member Gigi Hyland has been active on a number of issues since joining the agency's board in 2007 and before that

Texas Dow CU Hands Out Some White Hats to State's Community Banks

By Myriam DiGiovanni

It's close to high noon in Texas. Credit unions and local bankers are swaggering up Main Street from one direction and out-of-state mega-banks are approaching from the other.

Your Car Old? Dented? Fuchsia? Just Plain Smelly? US Federal Can Help

By Myriam DiGiovanni

Consumers who hate their ride are heading to US Federal Credit Union for a new set of wheels.

N.C. CUs Launch National Fundraiser to Aid Injured War Vets

By Jim Rubenstein

North Carolina credit unions have teamed up the Little Guy mascot for a new fundraising campaign

Housing Prices Posted a Decline of Half a Percent in July

By Heather Anderson

Integrated Asset Services' latest house price index (HPI) reported a 0.5% drop in national home prices for the month of July.

N.Y. CU Makes News

By Lindsey Siegriest

Teachers Federal Credit Union's Evalina Robinson, manager of fraud loss prevention, recently appeared on LI Talks, Long Island News 12 to discuss identity theft and fraud.

Advantis Wields Hammers and Brushes

Just in time for fall, Advantis Credit Union has helped spruce up some Portland-area homes during the REACH Community Development Paint-and-Repair-A-Thon.

N.Y. CU Leaders Lobby Congress

Representatives from all 14 chapters of the Credit Union Association of New York and executives of the association went to Washington recently

Ascentra Credit Union Is Merging With Members Choice Community CU

By Jim Rubenstein

Expanding its eastern Iowa growth, the $161 million Ascentra Credit Union of Bettendorf, Iowa, said it is in the process of completing a merger

UT FCU Re-Enrolls

Who says you can't go home again?

GTE FCU Announces Lay Offs and Closings

GTE Federal Credit Union announced that it laid off 5% of its workforce at its Tampa, Fla., headquarters and will be closing three branches.

Another CU Launches Branch With Goodwill

The $405 million generations Federal Credit Union, headquartered in San Antonio,

Goldenwest Credit Union Kicks Off Mobile Branch Services

Goldenwest Credit Union has kicked off its mobile branch services with a simple text message.

Redstone FCU Comes to Rescue for YMCA

By Jim Rubenstein

One of the South's largest YMCA affiliates, the 300-employee Heart of the Valley YMCA of Huntsville, Ala.,

GMT Workforce Software Goes to American Eagle

GMT Corp. said it will be deploying its GMT Planet workforce optimization solution at American Eagle Federal Credit Union in East Hartford, Conn.

Scholarships

Founders Federal Credit Union, Lancaster, S.C., announced the recipients of its 2009 Laura M. Fleming scholarship.

Community Events

Charter Oak Credit Union, Groton, Conn., announced that staff members participated in the second annual walk for the homeless.

New Volume Mark Set by JHA Capture

More than 23 million transactions were processed in July and August by the remote deposit capture operation

Harland Targets Credit Union Business Services

Harland Financial Solutions has launched a new enterprise platform intended especially for credit unions who want to do big business with small businesses.

Deposit From Home or Office: Your Members Are Ready. Are You?

Without a doubt, Check 21 and remote deposit capture have forever changed the business of banking.

Corelation to Offer New Platform That Was Developed by Some Old Names

By Marc Rapport

Some well-known names in credit union core processing have set out on their own once again, preparing to launch

Credit Unions Must Hang Together or Hang Separately

By Sarah Snell Cooke

The town hall held by the NCUA last week was much livelier than the previous one.

You Can't Win Them All: Focus First on the Gen Yers You Have

By Lindsey Siegriest

Last week I watched a video from the New Jersey Credit Union League of President/CEO Paul Gentile doing a man on the street survey asking people if they know what a credit union is.

Banks Playing Games on Fees

I would like to provide a quick response to the recent national coverage of Bank of America, JPMorgan and Wells Fargo cutting some overdraft fees.

Trades Continue to Be Wrong on TARP

In the discussions of alternative capital between CUNA and NAFCU (cutimes.com, Sept. 28), CUNA is once again wrong in trying to let credit unions get TARP funds.

How Much Will U.S. Central Cost?

Finally in September, we saw U.S. Central's audited financial statements for December 2008.

Wirz: I Am Not Against Small CUs, but Do Object to the Focus on Size

An article in the Sept. 23 issue caused dissention and some anger. I have gotten calls that my remarks

NCBA, CUNA Are Working to Foster Greater Cooperation Among Co-Ops

As CUNA's representative on the board of the National Cooperative Business Association, I would like to respond to Bill Slach's letter in the Sept. 9 issue

Staking Out The Stats

Fiserv, a provider of financial services technology solutions, recently sponsored a survey

People

EAST - Navigant Credit Union, Smithfield. R.I., announced the hiring of three new employees. Kathleen Orovitz was hired as senior vice president retail banking.