Credit Union Times Magazine October 26, 2011

Featured Story

Front Page News


Editor-in-Chief's Column

  • Prep for Various Aspects of Bank Transfer Day

    Nov. 5 has been proclaimed Bank Transfer Day. This public groundswell against Bank of America’s $5 debit fee is a true national movement that aligns well with the credit union mission and credit unions need to hitch themselves to that wagon. Is your credit union prepared?

Letters to the editor

  • Letter: Fryzel Wants to See the Loans

    The recent public exchange between the Wisconsin Bankers Association and the Wisconsin Credit Union League over member business lending sounds a lot like what has been going on in our nation’s capital for months. A stalemate between two parties who argue they can do it better, yet no one gets...


  • Guest Opinion: Mistakes in Global Cash Flow Analysis

    As global cash flow has become more of a necessity than an option, the majority of financial institutions are now performing some type of combined ratio analysis. The issue lies in the fact that there are several methods of global cash flow analysis being used. And some lead to erroneous...

  • Guest Opinion: The Next Generation of Banking

    Transformations in the mobile banking arena will be a hot topic among credit unions in 2012. According to Morgan Stanley, within five years, the number of mobile Internet users will surpass the number of desktop Internet users.

News Briefs

  • WOCCU Official Takes Polish Senate Seat

    Grzegorz Bierecki, president/CEO of the National Association of Cooperative Savings & Credit Unions, Poland's credit union trade association and a member of World Council of Credit Unions can add parliament member to his growing list of accomplishments.

  • Kellogg CU Marks 70th Anniversary

    Kellogg Community Federal Credit Union of Battle Creek, Mich., spent the month of October celebrating its 70th anniversary. “70 Years of Smiles” was the theme developed to promote this milestone to members as well as nonmembers. KCFCU has been drawing winners for $70 Target gift cards, and one lucky...

  • Card Pick Site Tops 1,000

    More than 1,000 credit unions now have their credit card offerings listed on, a website dedicated to helping consumers find credit union-issued cards.

  • PayPal Links Up With NCR

    PayPal has announced a deal with ATM manufacturer NCR that moves it more deeply into the payments arena. The predominantly online and mobile phone based payments company announced a suite of services aimed at the retail sector last month.

  • Prices Drive Card Spending

    Consumers spent more on their credit and debit cards in September 2011 than they did in the same month last year, according to card processor First Data. But the firm credited inflated prices for the increase rather than an increase in purchases.

  • Wisconsin Credit Unions Merge

    First Community Credit Union, Beloit, Wis., announced that the members of Rock County Employees Credit Union, Janesville, Wis., have voted to merge their credit union into First Community Credit Union.

  • Coventry CU in Rhode Island Names CEO

    David Root, owner of Root and Associates, has been named chief executive officer of Coventry Credit Union, Coventry, R.I. Root, at CPA, has been Coventry Credit Union’s independent auditor for the past 20 years. He replace

  • N.J. CU Members Save Big

    United Teletech Financial has scored well above its goal to save members $1 million. The credit union’s campaign, the “Million Dollar Community Challenge,” started at the beginning of the summer and challenged members to unite to save a million dollars in interest. The goal was surpassed as members saved more...

  • Public Service Credit Union Expands

    Public Service Credit Union, Denver, recently announced that residents of Adams and Weld counties are now eligible to join PSCU. Building on an existing Larimer County community charter, the addition of these two community charters opens up membership to more than 900,000 people.

Breaking News

  • Advantis CU Aids Charities

    As nonprofits continue to struggle, Advantis Credit Union has figured out a way to make a real difference in the communities it serves with GROW: the Advantis Community Fund.

Tech Bytes

  • CU*Answers and Xtend Add Owners

    Four more credit unions have become owners of Grand Rapids, Mich.-based core processor CU*Answers and affiliated CUSO Xtend Inc.

  • ACI Buys S1 Corp.

    After rejecting its initial bid this summer, S1 Corp. has agreed to be acquired by ACI Worldwide Inc., the electronic payments and online banking companies said.

  • Symitar Signs 37 CUs

    Thirty-seven credit unions became new users of Symitar core processing platforms in the past year, according to Jack Henry & Associates Inc.

  • Prepaid Card Aim at Hispanics Unveiled

    Coopera and The Members Group are now offering a prepaid card created specifically for underbanked Hispanics.

  • NEFCU Chooses Cybercrime Software

    The 159,000 members of the $1.7 billion NEFCU in Westbury, N.Y., can now choose to protect their online banking presence with the use of Trusteer Rapport cybercrime prevention software, the company and credit union said.

  • Passageways Signs Up Two

    Portal provider Passageways LLC said a pair of Michigan credit unions has become the 250th and 251st users of portal solutions from Passageways LLC, the Indiana-based CUSO said.

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