Credit Union Times Magazine October 24, 2012

Front Page News

  • Stanford FCU Overhauls Investment Services

    With a field of membership steeped deeply in the heart of Silicon Valley, Stanford Federal Credit Union knew that it was sitting on a bevy of untapped opportunities to provide more investment services.

  • Mobile Capture Comes To Small CUs

    The hot must-have technology in banking today has to be mobile remote-deposit capture, software that lets members take a photo of a check with a smartphone camera and, presto, it’s deposited into their account.

  • Beyond a Niche FOM

    It’s been nearly two months since Paul Sheahan was hired to oversee the business lending department at Anheuser-Busch Employees’ Credit Union and its division, American Eagle Credit Union.

  • Bluebird’s Appeal Seen as Limited

    Bluebird, the new prepaid card product being rolled out by Walmart and American Express, will provide banks and credit unions with additional competition in transaction accounts and technology.

  • Federation Aiming Squarely at New Low-Income CUs

    Under the leadership of a new chief executive, the National Federation of Community Development Credit Unions has set its sights on helping the 623 credit unions that have accepted NCUA's offer for a low-income designation take advantage of their new status.

NCUA

Data Processing/Tech

  • Congressional Federal Credit Union Harnesses Big Data

    The buzz phrase in marketing circles these days is big data and, lately, just about every business is scurrying to harness techniques for better analyzing the mounds of information they have to make more money.

  • Upgraded Mobile

    Michigan State University Federal Credit Union in East Lansing has upgraded its mobile banking presence.

  • LSI Signs Up 10 More

    Ten more credit unions signed with Lending Solutions Inc. in the third quarter as users of its contact center services and consulting programs, the Elgin, Ill., company said.

  • Idaho CU Adds RDC

    The 117,100 members of the $1.1 billion Idaho Central Credit Union can now use mobile check deposit on their smartphones and tablets.

  • Three Conversions

    Three more Southern California credit unions will be moving to the CU*BASE core processing platform through CU*NorthWest, the company said.

  • Mobile Sizzles at Dow Chemical Employees' Credit Union

    More than a third of Dow Chemical Employees’ Credit Union’s membership signed up for mobile banking in the first two months since it launched this summer, the $1.4 billion Michigan credit union said.

  • Mich. CU Converts

    CU*Answers said the $48 million Greater Niles Community Federal Credit Union in Niles, Mich., is now running on technology from the Grand Rapids, Mich., CUSO.

  • Over 900 Downloads

    More than 900 applications have now been downloaded from Open Solutions Inc.’s software application store since the service launched in May 2011, the company said.

  • Experts Discuss How to Make CU Link Ups Succeed

    Doug Petersen, president/CEO of the $880 million Workers’ Credit Union in Fitchburg, Mass., recalls asking the president/CEO of a small credit union why he chose Workers’ to consider a merger deal.

Editor-in-Chief's Column

News

  • Hot Tea and Hot Dogs Mark International Day

    International Credit Union Day is a celebration held around the globe on Oct. 18. and more than 196 million credit union members belonging to over 51,000 credit unions in 100 countries worldwide will be invited to celebrate International Credit Union Week with their credit unions.

  • Connex’s VP of Unbanking Lures Young

    Connex Credit Union, a $376.9 million credit union in North Haven, Conn. is generating chatter among local young adults through a special marketing internship position for college students: the vice president of unbanking.

  • Successes Of SaveUp Program

    A new report released last week by the Filene Research Institute indicates that SaveUp, the first free nationwide rewards program that encourages Americans to save money and pay down debt, had a positive impact on savings behavior among those who participated in a six-month pilot study.

  • Merger Pitfalls May Hinge on Failure to Talk Up Benefits

  • Stamford’s Mobile First

    The 4,700-members of Stamford Federal Credit Union in Stamford, Conn., are now being offered the triple play in mobile banking.

  • CUES to Honor Martin Gillis

    The Credit Union Executives Society has named Martin D. Gillis, board chairman at Windsor Family Credit Union, Windsor, Ontario, as the 2012 CUES director of the year.

  • Mo. League Endorses Rep. Clay

    Rep. William Lacy Clay (D-Mo.) is a co-sponsor of H.R. 1418, the Small Business Lending Enhancement Act, and H.R. 3993, which would allow credit unions access to supplemental capital.

  • Bad Judgment All Around

    Has the entire State Employees’ Credit Union, North Carolina Credit Union Department and NCUA situation become irritating, tedious and disappointing to anyone other than me?

  • LSCU Reaches Out To State Regulator

    Patrick La Pine, president/CEO of the League of Southeastern Credit Unions, said he is looking forward to working with Florida’s new commissioner of the Office of Financial Regulation, Drew Breakspear.

  • Aggressive Auto Loan Pricing Spurs Growth

    A combination of less-generous rate incentives from new vehicle sellers and aggressive rate pricing is accelerating the growth of new car loans at credit unions.

Regulatory/Compliance

  • Jeers for CFPB on Servicing

    According to comment letters regarding the Consumer Financial Protection Bureau’s proposed mortgage servicing rules, credit unions are strongly opposed to changes in disclosed annual percentage rates, and are also asking for more time to implement the final rules.

Opinions

Letters to the editor

  • The Intimidation Factor

    Whether we want to admit it, teens are intimidated by all financial institutions whether it is a bank or a credit Union. But why?

News Briefs

People

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