Credit Union Times Magazine October 19, 2011

Bank Transfer Day: CUs Preparing, Promoting

By Claude R. Marx

If more people transfer their accounts to credit unions because of Bank Transfer Day. it could be a mixed blessing for some credit unions. However, that’s a problem many credit unions would be glad to worry about.

Tech CU: Hampel Totes Ups Cost of Conversion

By David Morrison

If the roughly 73,000 members of Technology Credit Union, a $1.5 billion institution headquartered in San Jose, Calif., vote to convert to a mutual bank charter, they will likely find their increased expenses not restricted to taxes alone, according to CUNA Chief Economist Bill Hampel.

MBL: House Hearing Rehears Bank-CU Feud: Onsite Coverage

By Claude R. Marx

WASHINGTON — While the topic was ostensibly a bill to raise the cap on credit union member business lending, credit unions and banks sparred over a range of subjects at an Oct. 12 House subcommittee hearing.

Royal Credit Union Buys Bank’s Mortgage Servicing

By David Morrison

The 135,000-member Royal Credit Union has purchased the mortgage servicing rights to $600 million in mortgage loans from a local bank that the FDIC subsequently took over and sold to another bank.

SECU Touts its CAMEL Score

By Marc Rapport

If nothing’s wrong, there should be nothing to hide, CEO Jim Blaine said of his credit union’s decision to publicize its CAMEL score.

Autoland Morphs Under Weight of Downturn

By Michelle A. Samaad

When Jeffry Martin took the helm of Autoland Inc. 18 months ago, some hard decisions had to be made if the company wanted to expand on its 35-year reputation of vehicle purchasing and financing

Former CUNA Official Sounded Irish Alarm

By Michelle A. Samaad

Ireland’s credit unions are in such dire straits that $1.3 billion in unused bank funds was recently approved to aid some of the country’s struggling cooperatives.

Durbin Cap Repeal Pushed by Congressmen

By David Morrison

Two legislators have announced they will file a bipartisan bill in the House to repeal the Durbin amendment and remove its cap on debit card interchange.

Opportunity Knocks for CU Awareness on ICU Day

By Myriam DiGiovanni

With consumers disgruntled about bank fees on debit cards, there has never been a better time for credit unions to showcase their difference with a big splash on International Credit Union Day.

Bank Transfer Day Opportunity Seized by CUs

By Myriam DiGiovanni

Credit unions are making the most of the consumer outrage with big banks’ fees.

Education Continues to Dominate NCUF Grants

By David Morrison

Financial education continued to provide the predominant theme underpinning the National Credit Union Foundation's most recent round of grant making, with the NCUF continuing to fund projects that it believes strike at an enduring financial problem effecting a broad swath of American consumers.

CEO Disputes Reg Treatment of Modified Mortgages

By Jim Rubenstein

The $83 million Musicians’ Interguild Credit Union of Hollywood, Calif., has a beef over how examiners treat modifications on interest-only loans and its CEO/Treasurer Marc Jacoby is outspoken on the topic.

Branding Is More Than a Sharp Logo: Editor-in-Chief's Column

By Sarah Snell Cooke

Branding goes well beyond the colors in your logo or glossy brochures. Branding is everything, from your website to the employees in your branch. Branding must be part of overall strategic planning and then that plan must be clearly communicated and reinforced to all employees every day.

Trailblazers40Below: Given a Free Hand, Selte Builds Young Leaders Network

By Myriam DiGiovanni

According to Devin Selte, a senior relationship manager at Servus Credit Union, any strategic moves regarding the future of credit unions would be incomplete without plans to invest in the next generation of leaders.

House Bill Would Ease Account Transfers

By Claude R. Marx

Consumers could close bank accounts at any time at no charge regardless of the size of their bank balance and could do it in person or by phone, according to legislation introduced by Rep. Brad Miller (D-N.C.).

CUNA Mutual Gets Green Light for New Corporate Structure

By Michelle A. Samaad

A plan from CUNA Mutual Group for a new mutual ownership structure recently received approval from the Iowa Insurance Commissioner.

HAR-CO FCU Awaits Regulator on Charter

By David Morrison

The members of the $193 million HAR-CO Federal Credit Union have voted to approve the credit union's change to a mutual bank charter, according to an announcement from the CU to its members. The credit union did not returned calls seeking comment on the vote.

FDIC Losses Decline

The FDIC’s fund for insuring banks will have to pay out $19 billion because of bank losses over the next five years, a decline from the original estimate of $23 billion, the agency said last week.

Point Loma CU to Close Branches

By Jim Rubenstein

Pointing to the California recession, the ailing $451 million Point Loma Credit Union of San Diego is reportedly closing four branches early next month as part of a cost-cutting maneuver.

California Seeks to Regulate Payroll Cards

California’s small businesses and other employers may have to meet a host of conditions before they are able to pay their employees with a payroll card.

Financial Guru Dave Ramsey Lauds California Credit Union

By David Morrison

The 21,000-member Eagle Community Credit Union is reaping the benefits of an endorsement from personal finance author Dave Ramsey.

Robins FCU’s SWAG Patrol Delivers Good Deed

By Myriam DiGiovanni

Locals in central and eastern Georgia have experienced the credit union difference firsthand.

Northwest Community CU Names Iglesias CEO

There’s a new leader at Northwest Community Credit Union. John Iglesias has been named president/CEO of the $700 million Springfield, Ore.-based credit union.

First South Financial CU Is Merging With Dyersburg CU

The $385 million First South Financial Credit Union of Bartlett, Tenn., is adding to its Memphis-area footprint by merging the $12 million Dyersburg CU.

Modest Growth in Auto Loans

By Michelle A. Samaad

At best, modest loan growth is the most credit unions are experiencing even as auto sales increased by 8% in September.

Banks Slammed on Misuse of Small Business Fund

By Michelle A. Samaad

The Wisconsin Credit Union League continues to criticize the banking industry’s use of the Small Business Lending Fund for what it claims is misuse.

Fryzel: NCUA Seeks to Improve Regulatory Environment

By Michael Fryzel

At the recent NAFCU Congressional Caucus, Chairman Debbie Matz expressed a plan for regulatory improvement by NCUA. She addressed possible changes in certain regulations and a desire for a more open and transparent process that will allow for the credit union industry to know well in advance what rules are...

Cloud Providers Need to Do More on Security

By Rich Walsh

I wholeheartedly agree with John Rostern’s argument that credit unions need to be intently focused on security when outsourcing sensitive enterprise data [“Audit Specialist Raises Concerns in the Cloud,” cutimes.com, Sept. 26.]

Bank Transfer Day and Occupy Wall Street: Marx on Capitol

By Claude R. Marx

So far there has been tepid reaction by official Washington to the protests against Wall Street and banks that have spread throughout the nation. This may prove the point of both those on the right and the left that the leaders of our big political and economic institutions just don’t...

Adjusting Digital Marketing for All Markets

Digital marketing is for all generations. But in the right dose.

Guest Opinion: Housing’s Future Hinges on Planning

By Kirk Kordeleski

The reform of the secondary mortgage market in the U.S. is like a very slow-moving train.

Downturn Expands Bethpage’s Mortgage Portfolio

By David Morrison

If there is a credit union determined to not let a crisis go to waste, it is the $4.2 billion Bethpage Federal Credit Union.

Defining Promises Key to Mortgage Brand Building

By David Morrison

The key to building and developing a strong housing finance program may be for credit unions to define what it is that they are promising through their efforts and then making sure that commitment flows through the entire organization.

John Unangst Finds Growth in Sponsor Diversification: CEO's Corner

By Eileen Courter

When John Unangst joined Franklin Mint Federal Credit Union in 1976, he knew little about credit unions, but he did realize what could happen if the single-sponsor CU failed.