Credit Union Times Magazine September 12, 2012
Featured Story
Texas Trust Credit Union Strives to Hit $1 Billion
Sandwiched between the Gotham of the Lone Star State–Dallas and Fort Worth–stands the $753 million Texas Trust Credit Union, which recently launched an aggressive growth plan in one of the nation’s largest and most competitive marketplaces dominated by big banks.
Featured Story
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Isaac Prods Insurers to Shift Into Proactive
Hours after the Navy destroyer USS Cole was bombed in Yemen on Oct. 12, 2000, killing 17 American sailors and injuring 39, the families of members of Navy Federal Credit Union likely didn’t know that much more was going on behind the scenes on their behalf.
Front Page News
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MBL at North Dakota Credit Unions Make Them the Tops
If there was ever an argument that member business lending is good for credit unions, it’s in the state of North Dakota.
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Fraud and Cocaine; Borinquen FCU’s Former CEO Pleads Guilty
Ignacio Morales, former CEO of the $7 million Borinquen Federal Credit Union, pleaded guilty Sept. 4 to embezzling $2.3 million and causing the institution’s 2011 collapse. And, according to court documents, a former board member may also be guilty of defrauding the community development credit union.
News
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Democratic Convention Wined and Dined by Trades
House Assistant Minority Leader James Clyburn (D-S.C.) served as CUNA’s VIP guest when the trade association unveiled its Democratic National Convention leave behind project Sept. 5 during a ribbon-cutting celebration.
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Small Business Nuances Revealed by Kabbage Program
A year after Kabbage Inc. launched a program that links social media and loyalty to woo small business customers, the company said it discovered some unexpected patterns.
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Mid American FCU Branch Mirrors Local Flavor
A sprawling two-story Tudor might suggest that the Greens are up and coming professionals.
Editor-in-Chief's Column
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Editor’s Column: Dirty Data Dumps on Credit Unions
In the aftermath of the NCUA’s release of second-quarter data, several interesting pieces made their way to my inbox last week. One analysis that stirred quite a bit of debate came from The Financial Brand, stating that if current merger and closure trends continue, there will be half the...
News Briefs
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Recall of Directors Fails in Oregon
A recall move against five board members in the wake of a dropped merger bid at St. Helens Community Federal Credit Union has failed last week.
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NCUA Bans Three
The NCUA has banned three more former credit union employees from participating in the affairs of any federally insured financial institution.
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Cetera Financial Has New Brand Structure
Broker-dealer and registered investment adviser Cetera Financial Group has announced a new brand structure that will impact a firm that counts credit unions among its clients.
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CUSN Expands Its Offerings
Shared branching provider CU Service Network is offering its client credit unions several new services through CO-OP Financial Services.
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CUANY Announces Keynote Speaker for Econ Forum
The Credit Union Association of New York will be holding its first Economic Forum Nov. 1-2 in Albany, N.Y., at the Desmond Hotel & Conference Center. The event, which is open to attendees from multiple states, aims to provide credit union leaders with information on business strategy, economics and investing.
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Member One FCU Aids Wounded Vets
The $595 million Member One Federal Credit Union is a lead sponsor of a run-walk event that will be an inaugural fundraiser for a new organization created to help wounded veterans in the Roanoke, Va., area.
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Mountain Credit Union Signs Up Voters
The $143 million Mountain Credit Union in Waynesville, N.C., is taking part in the political process in a most bi-partisan way, hosting voter registration drives.
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Trunzo Named President of CMFG Life
Robert N. Trunzo has been promoted to president of CMFG Life Insurance Co. at CUNA Mutual Group. Trunzo will be responsible for the products, distribution and service of the company’s U.S. credit union businesses as well as its 401(k) business, according to CUNA Mutual.
Opinion
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Guest Opinion: Branches Trumped by Experience
There is certainly no shortage of experts willing to prognosticate on the future of the retail bank branch. For well over a decade, the futurists have generally aligned themselves around one of two sides of the debate. Those predicting the end of the branch as we know it, and those predicting...
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Gen Y Back Talk: The Power of Face-to-Face
It’s no secret that Gen Y is plugged in 24/7. We use the Internet for everything from shopping to job searching to apartment hunting. Even dating and making new friends is commonly initiated via cyberspace. While we can’t imagine a life without our laptops, tablets and smartphones, it’s also a...
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Guest Opinion: Lessons From the Health Care Debate
A few weeks ago, I attended a regularly scheduled board meeting at a credit union. The CFO was delivering his financial report that included the line item reflecting the cost for employee health care. There was a discussion about this important issue and the impact it was having on the...
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Guest Opinion: Overregulation Is Killing the Recovery
Overregulation is not just choking credit unions, it is choking our economy.
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Guest Opinion: Dark Clouds Hover Over Dual Chartering
It was the year 1909 when Pierre Jay, the first banking commissioner of Massachusetts, was successful in getting the first credit union act passed in the commonwealth. Many other states followed suit, and then in 1934, the Federal Credit Union Act was enacted, establishing a federal charter and a choice...
Tech Bytes
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Vertifi Signs Six for Mobile RDC
Vertifi Software LLC said it has added six more credit unions to the users list for its mobile remote deposit capture service.
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Orion FCU Runs KeyStone Core
Orion Federal Credit Union in Memphis, Tenn., has become the largest client running the KeyStone core processing platform from Corelation Inc. after a Labor Day weekend conversion.
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Symitar Signs 28 for Core Processing
Twenty-eight new credit union core processing clients were signed by the Symitar division of Jack Henry & Associates in the fiscal year that ended June 30, the Monett, Mo., company said.
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People’s CU Plans Core Conversion
COCC said the $381 million, 75,000-member People’s Credit Union of Middletown, R.I., plans to convert to a new core processing platform from the Avon, Conn., service bureau.
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Telco Credit Union Plans to Use NewSolution Core Platform
Share One said the $55 million, 9,200-member Telco Credit Union in Tarboro, N.C., plans to convert to the NewSolution core processing platform from the Memphis, Tenn., CUSO.
Letters to the editor
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Letter: Don’t Sow Banking Confusion
In response to the “Call for ‘Bank’ Entries” letter from Gregg Stockdale, and with all due respect to that unique call to action to re-label what we do, I believe that an attempt to redefine what credit unions do as anything other than banking is counterproductive.
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Letter: Some CUs Act Like Wayward Teens
Thank you for your recent Editor’s Column about credit unions dropping the words “credit union” from their names [Aug. 29 issue, page 4].
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Letter: ‘Bank’ Ads Make Me Cringe
I read in the issue Aug. 22 issue the letter, “Call for ‘Bank’ Entries,” [page 14] that Gregg Stockdale from 1st Valley initiated. I am in total agreement and have been for years.
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Letter: Embrace and Revive the CU Difference
In the eight years since I’ve moved to the U.S. from Australia, I’ve attended credit union conferences and meetings in just about every state and listened to hundreds of speakers.
Resource Center
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