Credit Union Times Magazine October-20, 2010

Front Page News


News Briefs

  • Merger Kit Offer

    A two-year-old guide offered by Westerra Credit Union and Nice Enterprises Inc. to assist credit unions in gauging potential merger partners has gone online.

  • Grameen Builds N.C. Presence With Grant

    Once exploring the launch of a federal credit union in North Carolina, microlending bank Grameen America will receive a $450,000 grant to help spur small business growth in low income communities there.

  • $10 Million Scheme Scams Church CUs

    The FBI said a school district, state municipalities and credit unions that served several churches were among the victims of a $10 million Ponzi scheme run by a Southfield, Mich., investment adviser.

  • N.C. Gov. Creates Small Biz Referral, Aid Source

    Small businesses in North Carolina have another source to turn to through a new program launched by Gov. Beverly Purdue that involves CUs and banks.

  • New Law Helps Clear SBA $970 Million Loan Queue

    The newly signed Small Business Jobs Act of 2010 has helped the SBA approve 1,939 loans totaling nearly $970 million in just one day through new funding for increased loan guarantees and reduced fees.

  • CUAO Supports Candidate

    Oregon's incumbent treasurer, Ted Wheeler, a Democrat, has won formal support from the Credit Union Association of Oregon in the Nov. 2 election.

  • Moebs Study Finds That Overdraft Revenue Likely to Fall This Year

    By the end of 2010, the banking industry is expected to have earned $35.4 billion in overdraft fee revenue, down from $37.1 billion in 2009 and on track with 2008, according to a recent Moebs Services study.


  • Bill Allows Socially Responsible Investments

    The recent introduction of the Federal Employees Responsible Investment Act would permit federal employees the opportunity to select a socially responsible and sustainable investment option in their thrift savings plan.

Tech Bytes

Editor-in-Chief's Column

Letters to the editor



  • East

    GFA Federal Credit Union, Gardner, Mass., recently announced that Sharon Henrickson has joined the GFA team as employee relations officer. Henrickson brings over 12 years of human resources experience in retail environments, with

In Memoriam


  • High Marks for CU Retirement Plan

    The $791 million 1st United Services Credit Union's 401(k) plan was highlighted for its generous employer contributions in a recent U.S. News and World Report article.

  • Verbatim

    Below is an excerpt from Glenn Beck's Fox News broadcast of Oct. 8.

  • Social Media Serves Up the Good, the Bad and the Exciting

    Social media isn't just for kids anymore. It has become mainstream and we receive more questions about it from our advisers each year.

  • Documenting Fair Value Determinations in an Uncertain Economy

    While the changes made to fair value accounting may seem like yesterday's news, it is still important to maintain a strong control environment and robust documentation over the valuation of financial instruments in order to ensure

  • Confusion on 401(k) Plans

    A Charles Schwab research study revealed that though many 401(k) participants need more guidance with their plan, very few actually use the help offered to them by their employer:

  • Awards

    Arizona State Credit Union, Phoenix, Ariz., received the Peter Barron Stark Companies Award for Workplace Excellence. Although it is the fourth time the credit union has received the award, it is especially significant this year because it

  • Community Events

    Michigan Credit Unions, Detroit, are hosting a 75-part marathon event to provide financial education services to the surrounding community. The weeklong initiative, known as Money Smart Week, was started at a kick-off breakfast held at

  • Community Events2

    Community Resource Federal Credit Union, Latham, N.Y., held a bottle recycling drive throughout the local community to raise money for a donation to the Mohawk & Hudson River Humane.

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