Credit Union Times Magazine September-15, 2010

CEOs Vulnerable to Scammers Who Target Whales

By Eileen Courter

As far as some people are concerned, if you're a CEO, you're a whale.You could be a target, and so could your business accounts. After all, why would criminals want to scam

Alliant CU and Continental FCU Merge Into a Strategic Flight Plan

By Michelle A. Samaad

More than four months after United Airlines and Continental Airlines announced merger plans that would make the two the largest single carrier in the world, the credit unions serving their employees are following suit.

CO-OP Financial Services to Begin Credit Card Processing Early Next Year

By David Morrison

Making good on a long offered promise, CO-OP Financial Services announced last week that it will start processing credit card transactions in early 2011.

CU Trade Associations Turn Up Heat on Member Business Lending

By Michelle A. Samaad

After a last minute whirlwind of appeals to President Obama and Congress to consider legislation that would increase the member business lending cap, both CUNA and NAFCU are urging credit unions not to let up.

Net Worth Pressure: Anemic Loan Demand Cries Out for a New Tack

By David Morrison

Credit unions will need to focus on finding new members and improving their loan penetration to compensate for a long-term drought in loan demand, leading CU economists said.

ASI Hikes Insurance Premiums

American Share Insurance announced a 15 basis point special premium assessment on the credit unions that use the private firm to insure their deposits. The firm said it insures member deposits up to $250,000 at 150 state-chartered credit unions.

Trades Track and Address Exam Issues

By David Morrison

Both CUNA and NAFCU announced efforts last week to address what they claimed were increasingly difficult and contentious relationships their member credit unions have been experiencing with their NCUA examiners.

California CUs Counter Negative Spin

By Jim Rubenstein

Stressing that "not all credit unions are suffering," a group of Los Angeles CUs did media damage control after an article in a local business journal highlighted poor credit union performance.

Heartland Credit Union Celebrates Local Nonprofits

To mark its 75th anniversary next year, Heartland Credit Union of Madison, Wis., has opted to raise awareness of the valuable services local nonprofits provide.

University of Michigan CU Taps Historic Building as New Headquarters

Michigan's weak real estate market has brought at least one bit of good fortune to University of Michigan Credit Union-a bargain price on new headquarters.

Marketer BancVue Beefs Up Its Payment and Card Services

The Austin, Texas-based BancVue Ltd, a product development and marketing company that serves community financial

80-Year-Old Iowa Grain Elevator Company Saved From Closure by CU

By Michelle A. Samaad

Iowa company Troy Elevator is familiar with starting a business during uncertain times, having gotten its start on the eve of the Great Depression

Credit Cards Lead Anemic CU Loan Growth, NCUA Reports

Credit cards led the way in what was overall very weak credit union loan growth in the second quarter, according to data reported to the NCUA.

Real Estate Loans, Economy Played Role in First American Takeover

Southern Wisconsin's poor economy and bad commercial real estate loans apparently figured in the Sept. 1 failure of the $137 million First American

Defaults May Stay Above Pre-Bubble Level for Many Years

By Eileen Courter

You're probably seeing mortgage defaults drop, but it could be another five years before they return to the level of the 1990s.

Uzbekistan Regulators Tap WOCCU for Best Practices

Representing one of the world's fastest growing credit union movements, 12 representatives from Uzbekistan's Central Bank arrived at WOCCU's Madison, Wis. headquarters late last month to explore best practices and other strategies.

Defense Credit Unions Are Prepping for Iraq Drawdown

By Jim Rubenstein

From both the business and humanitarian side, the military drawdown in Iraq is generating scores of new products, projects and services for U.S. military

Aloha Pacific to Open Las Vegas Branch, Merges With Ailing CU

On two fronts, the $725 million Aloha Pacific Federal Credit Union of Honolulu is expanding. It's buying a branch from the troubled Silver State Schools CU in Las Vegas and merging with a small, faith-based CU.

Good Morning CUs

A recent segment on ABC's "Good Morning America" shined a spotlight on the credit unions difference.

Clearview FCU Extends Its Pa. Reach

The $629 million Clearview Federal Credit Union of Pittsburgh completed a merger pact with the $61 million A-K Valley FCU of Lower Burrell, Pa., providing

Charter Oak FCU CUSO Sells Its Insurance Operation

By Michelle A. Samaad

The $635 million Charter Oak Federal Credit Union has sold the assets of an insurance firm operating through its CUSO.

iPad Seminars!

The Apple iPad-what it can do and a chance to win one-will be the topic of a series of seminars being presented in October

Fiserv Mobile Signings Reach 150

Fiserv Inc. said it now has signed 150 credit unions has users of Mobile Money platform.

CP FCU Selects Jwaala

CP Federal Credit Union in Jackson, Mich., said it will begin using the MoneyTracker Better Online Banking platform from Jwaala of Austin, Texas.

Philibosian Lands At Target Medi

Leigh Philibosian, formerly senior vice president of marketing at the $3.5 billion Mid-Atlantic Corporate FCU, has joined the Harrisburg, Pa.-based media planning and placement firm Target Media.

SBA Says Katrina Helped Agency in Overhaul

After applying for an SBA disaster loan in October 2005, a New Orleans seafood processor damaged by Hurricane Katrina didn't get approved until May 2006 and didn't receive the funds until October 2006.

N.Y. Insurers Gain Access

New York Gov. David A. Paterson (D) recently signed legislation that will enable insurance companies to deposit funds in credit unions.

Corporate America CU Snags NCUA's Buckley

CEO Thomas Bonds confirmed to Credit Union Times that his $3.6 billion Corporate America Credit Union has hired NCUA Corporate Field Supervisor

Korean CU Movement

The world's third largest credit union movement celebrated its 50th anniversary Sept. 7 in the Republic of Korea. Currently, 1,000 credit unions in South Korea

What's Love Got to Do With It?

By Sarah Snell Cooke

I really liked this blog post by Filene's Brent Dixon regarding the value of trust for credit unions

What Can Be Learned From Hewlett-Packard?

Mark V. Hurd resigned last month as chief executive of Hewlett-Packard, bringing into question some extremely complex financial, strategic and governance issues.

Without Competition, Has CUNA Mutual Become Too Powerful?

What if 75% of credit unions used a single security systems company? Imagine the power that single company would have. Let's assume that single security company did a great job, year after year. Is that really healthy for the credit unions?

Hughes FCU Hires Basketball Coach as TV Pitchman

The $500 million Hughes Federal Credit Union of Tucson has hired the University of Arizona head basketball coach as its new TV spokeswoman under a campaign aimed at tying the CU brand closer to college athletics.

Nutmeg Names CEO

Nutmeg State Federal Credit Union has named former Dade County Federal Credit Union Executive Vice President John Holt as its new president/CEO.

As iPads Burst on the Scene, CUs Consider Jumping on the Bandwagon

By Marc Rapport

The sheer speed with which the iPad has become a household name has been remarkable, analysts and industry observers said, and that success has

Skylines DirectFED Signings

Skyline's DirectFED Payment Solutions said it has signed the $124 million Right Choice Credit Union of Houston and the $4.2 million University of

Survey Finds More PFM Interest Than Adoption

Interest is in online personal finance management tools is relatively high but usage is low and consumers appear to be far more likely to use such tools

Security Specialist Pings Mobile Towers to Validate Card Transactions

By Marc Rapport

A London-based online security specialist is now testing a new way of verifying card transactions that its CEO said will turn the problem of false positives "on its head."

CUNA Tech Council: Streamlined RDC Services a Growing Necessity

By Marc Rapport

Perhaps one of the most revolutionary of the online banking revolution is the ability for members to scan checks and deposit them electronically, a natural