Credit Union Times Magazine October 10, 2012

State of Affairs: Rhode Island Credit Unions Flounder

By Candice Reed

Despite shedding jobs, cutting pay, trimming benefits, curbing services and expanding the tax base, the state of Rhode Island is in deep financial trouble, and credit unions there are doing their best to stay afloat.

Charter Oak FCU Steers Shipyard to Smooth Sailing

By Michelle Samaad

Jeff Marshall typically starts his days early at the Mystic Shipyard, a 169-year old marina with a history steeped in the construction of schooners and iron-clad ships to sail the waterways of New England.

Harvard Credit Union Inks Deal on Alumni Cards

By David Morrison

A deal announced last week between the Harvard Alumni Association and the 31,000-member $409 million Harvard University Employees Credit Union has guaranteed that at least 4,500 alumni of the university will carry the credit union’s credit card.

Pension Plans May Be Reborn

By Michelle A. Samaad

With just 13% of credit unions offering their employees defined-benefit plans, is a shift underway that could potentially open up the window for employers to increase participation?

Post-Boomers Wait Not So Patiently for Corner Offices

By Candice Reed

A recent CUNA survey found that one in five credit union CEOs will have retired by the end of 2012, causing board members sleepless nights wondering who will take the reins.

ADA Violations Alleged at Seven Credit Unions

By Heather Anderson

A Pittsburgh attorney, on behalf of three blind clients, has sued seven credit unions and several more banks, claiming their ATMs don’t comply with the Americans with Disabilities Act’s standards for accessible design.

Social Media: Marketing From the Inside Out

By Natasha Chilingerian

Many small businesses, including credit unions, are quickly discovering that successful social media marketing takes more than knowing how to send a tweet. It entails devising a plan that fits into an overall strategy.

Local Governments Woo Credit Unions as Banks Cry Foul

By Eileen Courter

At a time when it’s difficult to convert deposits to loans, does it make sense to open the door to an additional flow of money into a credit union?

Take Enterprise Risk Management Out of the Silos

By Heather Anderson

WASHINGTON — Risk management used to rely upon a silo approach, with managers or committees managing risks only within their designated areas of responsibility, enterprise risk management consultant Marcus Faust told CUERM trainees Oct. 2 at the Capital Hilton. Faust works for RP Financial, an Arlington, Va.-based financial services consulting...

Risks Assessment Must Include Capital

By Heather Anderson

WASHINGTON — Risk assessments that don’t include capital are incomplete, Fiserv’s Orlando Hanselman told his CU Enterprise Risk Management audience Oct. 2 at the aptly spelled Capital Hilton. Hanselman, education programs director for Fiserv’s risk and compliance unit, added that these days, the only true measurement of capital adequacy is...

Gen Y Back Talk: Posting With a Purpose

By Natasha Chilingerian

Social media plays a dominant role in Gen Y’s personal and professional lives. Between Facebook, Twitter, Instagram, Foursquare and Pinterest (and I’m sure I left out a few), it’s sometimes hard to understand how young adults have time for anything else.

What We Have Is a Failure to Communicate: Editor-Publisher's Column

By Sarah Snell Cooke

The presidential debate last week demonstrated how important communication skills are. President Obama is generally thought of as a well-spoken man.

CFPB and NCUA Are Focused on Lending

By Sarah Snell Cooke

ATLANTIC CITY, NJ — The Consumer Financial Protection Bureau is churning out regulations. The question, according to Rob Rutkowski who’s a partner in the law firm of Weinberg & Reis Co. LPA, is whether credit unions are ready for compliance.

Political Toe to Toe at N.J. League Meeting

By Sarah Snell Cooke

ATLANTIC CITY, NJ — Two credit union political stalwarts went head-to-head regarding the upcoming political elections and issues at the NCUA.

Be Easy, Consultant Urges

By Sarah Snell Cooke

ATLANTIC CITY, N.J. — Following a sales-service philosophy is becoming increasingly important to implementing new revenue strategies for credit unions, Jeff Rendel, president of Rising Above Enterprises, advised attendees of the New Jersey Credit Union League’s Annual Conference last week.

NCUA Examiners Look at the Bigger Picture

By Heathern Anderson

WASHINGTON — The financial services industry is a risk-taking industry, NCUA Deputy Director of the Office of Examination and Insurance Tim Segerson told CU Enterprise Risk Management trainees during a lunch speaking slot Oct. 1 at the Capital Hilton. Credit unions that don’t take risk earn less income, which makes...

We are Our Biggest Competitors: Guest Opinion

By Sherry Reams

What is competition? According to the Business Dictionary it is, “a rivalry in which every seller tries to get what other sellers are seeking at the same time; sales, profit and market share by offering the best practicable combination of price, quality and service.”

Guest Opinion: Healthy Rivalry Drives Loyalty

By Becky Nilsen

Competition is one the cornerstones of the business and economic world. Merriam-Webster defines competition “as the efforts of two or more parties acting independently to secure the business of a third party by offering the most favorable terms.”

The More Things Change ... : Guest Opinion

By Henry Meier

It's presidential election season again, which means that with the predictability of a Lindsay Lohan arrest we are once again being told that we are on the eve of the election to end all elections. The political equivalent of the Thrilla in Manila; Voldemort vs. Harry Potter; the decisive battle...

Cooperative Trust: Gen Y Must Join the Fight

By Kristin DeVleming

In 10 to 15 years, the majority of the senior management team at your credit union will retire. Then what?

Alaska USA FCU Unit Buys Insurance Broker

By Staff Writer

Alaska USA Insurance Brokers has acquired the book of business of Anchorage-based Rentschler Insurance Agency. RIA’s operations were integrated into Alaska USA Insurance Brokers, effective Sept. 1. “RIA clients will not be impacted by the change in regards to policies, terms or conditions,” said Timothy Maudsley, president of Alaska USA...

Wisconsin Credit Union Makes Bid for Savings Bank

By Peter Strozniak

The $2 billion Landmark Credit Union of New Berlin, Wis., has filed applications with federal and state regulators to buy the $190 million Hartford Savings Bank, a state-chartered mutual savings bank in Hartford, Wis.

Connex CU Buys CPM Insurance

By Marc Rapport

Connex Insurance Services, a division of Connex Credit Union, announced it recently purchased CPM Insurance Services.

Web Marketing Group Fetes Two CUs

By Peter Strozniak

The $3 billion Mountain America Credit Union of West Jordan, Utah, and the $915 million Unitus Community Credit Union of Portland, Ore., have received “Outstanding Website” awards from the Web Marketing Association.

Mid-Hudson Valley Names Wayne Winkler CEO

By Staff Writer

Mid-Hudson Valley Federal Credit Union, Kingston, N.Y., announced the promotion of Wayne Winkler to president/CEO. Winkler was named Acting CEO in April of 2012.

Letter: More Card Merger Compliance Pitfalls

By Timothy R. Kolk

The article on page 3 in the Sept. 26 issue [“Portfolios Can Gum Up the Merger Works”] did the industry a service by pointing out oft overlooked difficulties in merging credit card programs in an overall credit union merger.

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