Credit Union Times Magazine October 31, 2012

Loans Gush From Texas CUs As State's Economy Booms

By Heather Anderson

They say everything is bigger in Texas, but one thing that wasn’t. The real estate boom and subsequent bust. And it has worked out for credit unions in a big way. According to the NCUA’s second quarter statistics, homes in the Lone Star state have gained nearly 5% in value...

Money2020: Fistful of Digital Dollars

By Robert McGarvey

LAS VEGAS — Disruption. Disintermediation. Reinvention. These three themes rocked the first installment of Money2020, a bustling conference that attracted a full house of 2,000-plus attendees and, more importantly, it brought in very senior executives from major financial services players ranging from American Express to Visa, MasterCard and Discover; from...

Ohio CU’s Appeal

By Heather Anderson

Commodore Perry FCU President Thomas Renz said last week the reason the $32 million credit union filed an exam appeal–an accusation an NCUA examiner retaliated against the credit union in the form of a riskier CAMEL score–has been lost in the appeals process.

Trades Tally PAC Support

By Heather Anderson

Credit union trade associations have entered the 2012 election homestretch, with both CUNA and NAFCU confirming PAC spending figures reported by the Federal Election Commission and website OpenSecrets.org.

Maryland’s Wealth Not Profiting Credit Unions

By Candice Reed

Maryland is the richest state in the union with a median household income of $70,004, a cool $20,000 above the national average. However, as of June 30 Maryland’s credit unions reported just 61 basis points worth of profit, well below the national average of 0.86% ROA.

Grumbles Aside, Interchange Dispute Moves Toward Settlement

By David Morrison

The negotiated settlement meant to end the longstanding dispute over credit card interchange moved closer to becoming final last week as attorneys for both sides in the dispute proposed a final settlement agreement to the U.S. District Court in New York and made a motion for its approval.

Gains in Housing Market Expand Gateway to Credit Unions

By David Morrison

Thanks to the real estate bubble and its aftermath in the Great Recession, housing finance has become an increasingly important driver for credit union membership, according to credit union executives around the country.

Filene Guide to Other Income

By Natasha Chilingerian

Crafting a noninterest income strategy is an excellent way for credit unions to boost their revenue, but turning members off by unwanted fees in the process can defeat the whole purpose. That’s the premise of a new report from Filene Research Institute in Madison, Wis. titled, “In Search of Member-Friendly...

CUNA Mutual to Reshape Insurance

By Michelle A. Samaad

When CUNA Mutual Group set out to shake up a program that had grown a bit disjointed, the company went straight to members and credit unions to gather feedback on what changes needed to be made.

Highway to Hell Paved With Good Intentions

By Sarah Snell Cooke

Credit union volunteers and professionals do what they do because they enjoy it–even get a sense of inner fulfillment from it–and are good at it. Otherwise, you’d be silly because the pay and benefits are relatively low and at credit unions you actually have to listen and try to fulfill...

Suit Filed Against Bank of America

The U.S. Justice Department is suing Bank of America over alleged mortgage fraud perpetrated against Fannie Mae and Freddie Mac by Countrywide, the giant mortgage originator purchased by Bank of America.

APWG Sees Phishing Spike

Phishing has been around for a while and it is nowhere near becoming a thing of the past, according to the latest report from the APWG.

CUES Names Fagan CEO

The Credit Union Executives Society board of directors announced that Charles E. Fagan III was its new president/CEO, effective Jan. 3. Fagan has most recently served as executive vice president of PSCU. He takes over for the longtime CUES leader Fred Johnson retires on Dec. Johnson has led CUES for...

Miracle Network Funding Grows

Credit Unions for Kids, the industry’s fundraising vehicle benefitting Children’s Miracle Network Hospitals, is projecting that credit unions will have raised $225,000 through their participation in September’s Miracle Jeans Day.

Apple FCU Exclusive Provider For George Mason University

The $1.6 billion, 144,000-member Apple Federal Credit Union in Fairfax, Va., said it has been selected as the exclusive provider of banking services to George Mason University.

San Diego County Credit Union Is First With Mobile Live Chat

The $5.8 billion San Diego County Credit Union said it is the first financial institution in the country to offer live mobile chat to iPhone and Android smartphone users.

Sleepless in Seattle

Nearly 200 credit union professionals from around the country gathered in Seattle last week for the NAFCU regulatory compliance seminar.

Brokaw, Chatzky Featured at GAC

Tom Brokaw and personal finance journalist Jean Chatzky will be the keynote speakers at CUNA’s Governmental Affairs Conference set for Feb. 24-28 at the Washington Convention Center.

Members Approve Large Wash. Merger

The $238 million Prevail Credit Union in Seattle, Wash., announced last week that the members voted to merge into the $781 million Harborstone Credit Union in Lakewood, Wash.

Caren Gabriel Knows When to Lead the Team and When to Ride the Bench: Women to Watch

By Myriam DiGiovanni

As avid a University of Alabama sports fan Caren Gabriel, president/CEO of Tullahoma, Tenn.-based Ascend Federal Credit Union may be, being a sports agent/attorney will just have to wait for her next life because she has found her true calling.

Awards 10-31-12

Time to Lick Wounds and Heal From Mortgage Pain

After a long, hard climb, credit unions have established themselves as a credible source for real estate loans.

Affinity Cards Present New Opportunity to Consider

A new opportunity has surfaced for credit union credit card issuers: the chance to offer affinity-branded credit cards. To be fair, this type of program is not new, but the marketplace has changed enough to make it a reasonable path for credit unions to consider for the first time. And...

Wake Up, Members. It’s Not That ’70s Show Anymore.

After hitting 55 years old, Mr. and Mrs. CU Member are thinking about that retirement around the corner. They have recently paid off their mortgage and celebrated with a mortgage burning party. They have also paid off all of the other modest debts they ran up during their productive years....

Delivery Channels to Converge in the Cloud

Over the past 10 years I have watched and actively participated in setting up various delivery channels at credit unions. Today, credit unions have branches, telephone banking, call centers, online banking, text banking and mail banking.