Credit Union Times Magazine October 17, 2012

Featured Story

Ohio CU’s Examiner Claims Dismissed by OIG

An examiner assigned to the $32 million Commodore Perry FCU did not harass employees or retaliate against the Oak Harbor, Ohio-based credit union, the NCUA said Oct. 9.

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Featured Story

Hawaii CUs Say Aloha to Tourist Dollar Resurgence

By Candice Reed

According to recent reports in The Wall Street Journal and other publications, Hawaii’s tourism economy is experiencing a big wave of double-digit increases in visitor arrivals and spending over the past year. However, Hawaii credit unions reported a flat return on average assets during first-quarter 2012, according to the NCUA’s...

Front Page News

Discovery Conference: Embrace Change, but Retain Core Values

By Michelle A. Samaad, Heather Anderson

The decline and demise of well-known retailers such as Blockbuster, Kodak and free-standing bookstores offers proof of just how rapidly industries are shifting to keep up with consumers’ needs and wants.
Walmart and Amex Team Up for Prepaid Card

By David Morrison

Walmart advanced further into the financial services arena last week with a new product it will offer in conjunction with American Express.
Amazon Flexes Its Loan Muscles

By Michelle A. Samaad

Over the past couple of weeks, bits and pieces have leaked out about a new commercial loan pilot program from Amazon Inc. and how the online retail behemoth’s entry into the small business lending could put credit unions, banks and other lenders on high alert.

News

BAI Retail Delivery: Branson Wows, but Mobile 2.0 Rules

By Robert McGarvey

WASHINGTON — Keynotes by Sir Richard Branson, the $4 billion Virgin serial entrepreneur, and global strategist Jonathan Salem Baskin. Panel after panel on mobile banking, peer-to peer-payments and the rules of engagement with social media. A tentative obituary for near field communication, an innovative payments technology around which enthusiasm seems...
NCUA’s Buckham Ordered to Depose in Siravo Suit

By Heather Anderson

U.S. Magistrate Judge Margaret A. Nagle has denied the NCUA’s motion to prevent former Director of the Office of Corporate Credit Unions Kent Buckham from giving a deposition to former WesCorp CEO Robert Siravo’s defense attorneys in the ongoing case that was originally filed by seven former WesCorp member credit...
Swipe Cap Hearing in D.C. Court

By David Morrison

The question of whether or not the Federal Reserve went far enough or too far in capping debit card interchange in accord with the Durbin amendment went before a U.S. District Court Judge recently.
Boomers Seek Knowledge on Health Savings Accounts

By Eileen Courter

If you offer health savings accounts, chances are baby boomers will be familiar with key basics before they approach the credit union.
Occupy Founders Aim for 2013 Opening for People’s Reserve Credit Union

By Natasha Chilingerian

Occupy movement activists in San Francisco first announced plans for People’s Reserve Credit Union, an in-the-works cooperative designed to serve local communities and take a stand against the city’s for-profit banks, in November 2011. The project is now well under way, with board and advisory committee meetings taking place and...
WOCCU Expands Its Global Reach

By Natasha Chilingerian

Just like the 14,000 member credit unions it supports, the World Council of Credit Unions in Madison, Wis., must intermittently reevaluate its structure and programs in order to best meet the needs of those it serves.

Editor-in-Chief's Column

From NCUA to Technology to Soul Searching: Editor/Publisher's Column

By Sarah Snell Cooke

At the Credit Union Enterprise Risk Management conference earlier this month, a senior official at the NCUA declared that the agency is taking a more qualitative approach rather than quantitative in its examinations. Tim Segerson, deputy director of the Office of Examination and Insurance, acknowledged that credit unions that don’t...

People Feature

VP DeBuhr Sweats Great Solutions, Not the Small Stuff

By Myriam DiGiovanni

Keep calm and carry on” is not just a saying on a coffee mug but how Michele DeBuhr, vice president consumer credit administration at Portland, Ore.-based OnPoint Community Credit Union lives.

Opinion

In Retirement Flux, Credit Unions Are Safe Haven: Guest Opinion

By Robin Arnold

As a financial adviser specializing in retirement planning and retirement income planning, I work every day with baby boomers. So, I am acutely aware of members’ concerns about the current economy and its impact on their future needs.
Navigating Low-Rate Shoals: Guest Opinion

By Michael Faughnan

With interest rates at historic lows and economists and the Fed forecasting they will remain there, it is becoming harder to ignore the effects this is having on balance sheet margins. And a decelerating growth rate of U.S. GDP and slowing demand from businesses related to real estate will continue...
Innovation Is Complex and Critical: Guest Opinion

By Stuart R. Levine

This past month at the Credit Union Leadership Forum’s Edu-Leader Leadership Learning Series we focused on innovation, which can be one of the most challenging issues for credit unions.

On-Site Conference Coverage

Water Cooler: Fun and Games

By Myriam DiGiovanni

NASHVILLE, Tenn. — It was literally game on at the CU Water Cooler Symposium.
CU Water Cooler: Go Outside the Box

By Myriam DiGiovanni

NASHVILLE, Tenn. — Thinking on a larger scale was the overarching message of Brent Dixon’s session that kicked off the CU Water Cooler Symposium.
CU Water Cooler: Consultant Says Expertise Is the Key

By Myriam DiGiovanni

NASHVILLE, Tenn. — Forget about branding, storytelling or whatever the next marketing trend may be.

News Briefs

B-Word Settlement in Vermont

By Heather Anderson

An Oct. 5 settlement arising out of the showdown between the $600 million Vermont State Employees Credit Union and its state regulator over use of the word “bank” in advertising leans in the credit union’s favor.
NCUF, CFSI Pair Up to Find Big Ideas

By David Morrison

The National Credit Union Foundation has teamed up with one of the largest financial think tanks in the country, the Center for Financial Services Innovation, to find a big idea to fund this year.
Consumers CU Partners With K-Wing Icemen

By Peter Strozniak

Fans of professional hockey may be bemoaning the National Hockey League’s lockout. But that’s not the case in southwest Michigan where the Consumers Credit Union and its members–a good number of them big hockey fans– are looking forward to another season of minor league hockey with the Kalamazoo Wings team.
Ledge Light FCU Is Now Scient FCU

By Peter Strozniak

The Ledge Light Federal Credit Union announced its new name, Scient Federal Credit Union. Along with the new name, the $229 million credit union in Groton, Conn., also is introducing a new identity and a website.
Security Enhanced At CULookup.com

By Marc Rapport

NAFCU said its CULookup.com site now includes a secure deployment option for its financial calculators for credit union websites.
Lifestyle Lending Acquired by CU Direct

By Michelle A. Samaad

CU Direct Corp. announced last week the purchase of key assets from Lifestyle Lending Solutions, a retail and medical lending firm.
Black Hills FCU and CR Community First Merge

By Marc Rapport

Black Hills Federal Credit Union, based in Rapid City, S.D., has merged with CR Community First Federal Credit Union of Eagle Butte, S.D.

In Memoriam

Director Barbara Leonard at Unitus Community CU: In Memoriam

By Staff Writer

Unitus Community Credit Union of Portland, Ore., lost longtime board member last week when as Barbara Leonard passed away. Leonard had served on Unitus’ board of directors for more than 20 years, including a term as board chair. She was 65 years old.

Other

Credit Union Donations

By Staff Writer

The Credit Union League of Connecticut, Meriden, Conn., said the board of trustees of its Connecticut Credit Union Charitable Foundation has voted unanimously to support the development of Fisher House Connecticut, a home away from home for military families whose service members are receiving medical care. The national Fisher House...