Credit Union Times Magazine September 21, 2011
Featured Story
No Plan for NCUSIF Exits Hits Sour Note
The NCUA says it's not developing a contingency plan for helping credit unions that stay deal with any new costs from more departures.
Front Page News
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CAMEO Winners’ Success Stories
Credit unions of many different asset sizes have been proving they can market and manage credit card programs successfully.
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Time for CU Women to Take a Bow
Credit Union Times is rolling out the red carpet to spotlight influential, forward-thinking women reshaping the future of the credit union community.
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Southeast Corporate to Merge With Corporate One
“We see this merger as a model for the future of strong, viable corporate credit unions,” said Brad Miller, CEO of Tallahassee, Fla.-based Southeast Corporate, in announcing the decision of his corporate to pursue a merger with Columbus, Ohio, based Corporate One.
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Solarity CU is Born
When it comes to writing the ideal manual on a successful credit union, Mina Worthington and Paul Regimbal of Yakima, Wash. hope they get to be principal authors.
News
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CUNA Wants NCUA to Revise or Withdraw Reg
CUNA is calling on the NCUA to withdraw or substantially revise its proposal that includes new monitoring rules for CUSOs.
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Car Buyers’ Concierge Takes Surprise Out of Shopping
When Tracey West learned that her 14-year old car would need thousands of dollars in repairs, she knew the time had come to part ways.
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Fast Executive Compensation Facts
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CUES Reports Uptick in Executive Compensation
The latest CUES Executive Compensation Survey indicates an upswing in CU executive pay this year. And as credit union board chairmen and one compensation consulting firm explain, the compensation determination process has become more complex and varies from credit union to credit union.
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With No Successor in Sight, Hyland Retains Her Seat
NCUA Board Member Gigi Hyland doesn’t have to order a moving van any time soon. Even though her term on the board expired on Aug. 2, President Obama hasn’t nominated anyone to succeed her.
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Irish Credit Unions Ordered to Limit Loans
Under new rules, nearly 300 credit unions have been told by the Central Bank of Ireland to limit the amount of loans they distribute each month.
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Weary Northeast Credit Unions Are Still Coping With Irene Flood Fallout
For the third week in a row, Northeast credit unions were doing the disaster drill, coping with flooded property, providing special loan deals to stricken members, aiding their own employees and assessing potential mortgage losses on portfolios.
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CSCU Study Urges Cards Exam
A new white paper offered by Card Services for Credit Unions urges CUs to review the way they process debit and credit card transactions with an eye toward both reducing costs on the debit side and increasing revenue on the credit side.
Editor-in-Chief's Column
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Ignorance Is Not Bliss; It’s Negative Growth
"Among nonmembers, awareness has always been low. We were disappointed it fell.” Those were the words of Jon Haller, CUNA director of corporate and market research, when discussing the results of two new CUNA reports.
Opinion
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Senator Tester: Why I Opposed The Debit Cap
Our nation’s credit unions are fundamental to the success of the communities and small businesses that built our country and made it the greatest in the world.
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Time to Remind Congress About the Value of CUs
You will undoubtedly be reading a lot over the next few months about 12 members of Congress who wield extraordinary power over the future of hundreds of federal programs and tax expenditures.
Letters to the editor
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Is Checking A Dinosaur?
Recent developments at the federal and state levels, compounded by the nation’s continuing economic doldrums, have forced our financial institutions to examine the array of products offered and seek new and increased revenue.
News Briefs
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IRS to Some CUs: You Are Not Tax Exempt
Some state-chartered credit unions have been told by the Internal Revenue Service that they are no longer tax exempt because the IRS hadn’t received their 990 forms.
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Will That Be Debit or Credit?
A new card from Fifth Third Bank promises to make the often routine cashier question “debit or credit?” a lot more important for consumers who hold them. And it brings the bank a strategy for getting around at least some of the Durbin amendment’s interchange cap.
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ABNB FCU Offers 'Honest to Goodness Savings'
Who doesn’t want more money in their pockets? In early 2011, ABNB Federal Credit Union made a commitment to help members save money.
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MoneyIsland for Kids at Leominster CU
Leominster Credit Union is looking to put the fun back in financial education efforts.
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New Bronco FCU CEO Promoted From Within
There’s a new leader at Bronco Federal Credit Union.
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121 Financial Helps Members Get Fiscally Fit
In addition to helping members become fiscally fit, 121 Financial Credit Union has partnered with WellCard Health to offer members discounted health services through its Benefits Plus program.
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NCUF Shines Spotlight on Education
Credit unions’ financial education efforts are making a difference and the National Credit Union Foundation is sharing that information state-by-state.
Columns
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Marx on Capitol: CUs Need More Moneyball, People Power
This is a prediction you can take to the credit union. During the presidential campaign there are some phrases you won’t hear. “The government isn’t spending enough money.” “China doesn’t own enough of U.S. assets.” And “One of my top priorities is to raise the cap on credit union member...
Marketing
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Social Media Expand Touch Points
Credit unions are constantly looking for new, more efficient and effective ways to better connect with members.
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SE League Rolls Out Image Ads
In a new branding pitch aimed at a youthful demographic, the League of Southeastern Credit Unions has launched a $1.3 million TV, radio and viral co-op campaign with a switch message.
Focus Report
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Linking Young, Veteran Staff Calls for Breaking Down Walls
It’s pretty obvious that the next generation of leaders is ready to learn, grow, network and challenge the status quo in preparation to take the reins.
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Coffee Talks Replace Interviews to Find Candidates Who Fit
Standing in his signature jeans, T-shirt and sneakers, amid a sea of suits at a college career event, James Robert Lay quickly draws a crowd of students interested in working with him.
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Hiring That Stresses Relevance May Woo Young Recruits
Looking to attract Gen Y as members? It might be time to turn your attention inward and focus on hiring them first.
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A Closer Look at Millennials in the Workplace
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Training, Nuturing Gen Y Takes Custom Approaches
When the oldest members of Generation Y, born roughly in the 1980s, began graduating from college, a collective groan was heard on investment desks throughout Wall Street.
Special Report
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Forget Broadway, Lourdes Cortez Realizes CEO Dream
When she couldn’t figure out a way to make a living in theater, Lourdes Cortez, knew pretty early on she wanted to be able to make a difference in people’s lives.
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Teresa Freeborn Leveraged Her Marketing Bona Fides
"The Communicator" could easily be a code name for Teresa Freeborn, president/CEO of El Segundo, Calif.-based Xceed Financial Credit Union.
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Jessica Herishko Embraces Her Parents’ Work Ethic
Jessica Herishko has a long list of goals, and it’s likely the people who know her would bet she’ll achieve them.
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Steph Sherrodd Made Her Own Opportunities to Grow
For Steph Sherrodd, executive vice president and chief operating officer at Texas Dow Employees Credit Union, the two words “why not” have helped shape her life and career.
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Tamara Vrooman’s Public Service Shaped Her Leadership
Tamara Vrooman certainly wasn’t desperate for a job. After all, as British Columbia’s deputy minister of finance, she directed $100 billion a year in borrowing and cash requirements and helped prepare a $36 billion fiscal plan.
Tech Bytes
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Harland Owner Taken Private
M&F Worldwide Corp. said today its board has approved merging with MacAndrews & Forbes Holdings, financier Ronald Perelman’s investment firm which already owned 43% of M&F Holding’s publicly traded stock.
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America First Adds to Mobile
The 549,000 members of the $5.1 billion America First Credit Union in Riverdale, Utah, are now being offered new mobile banking options.
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Hawaii Pacific FCU Picks Imager
Integrated teller capture and item processing have been deployed at the $50 million Hawaii Pacific Federal Credit Union in Honolulu.
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Elevations Chooses Account Opener
A new account opening and loan origination platform from MeridianLink Inc. of Costa Mesa, Calif., will be deployed at the $966 million Elevations CU in Boulder, Colo., the company and credit union said.
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Geezeo Adds Four CUs to PFM User List
Four more credit unions have contracted to use the personal financial management and integrated online marketing solutions from Geezeo, the company said.
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CFA Offers New Identity Theft Site
A website that offers best practices for identity theft prevention and services for consumers and businesses has been launched by the Consumer Federation of America.
Resource Center
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