Credit Union Times Magazine September-22, 2010

Navy Fed to Merge Ailing United Services of America

By Heather Anderson

The $41 billion Navy Federal Credit Union announced Sept. 13 it will merge the $605 million United Services of America FCU of San Diego, which fell to 2.76% net worth as of June 30.

Senate Passes Lending Bill, but Eschews MBL Hike

By Claude R. Marx

he Senate last Thursday passed pass a small business lending bill-which includes a $30 billion fund to encourage community

NCUA Approves 12.42 BP Assessment

By Claude R. Marx

ALEXANDRIA, Va. -- The NCUA Board last Thursday approved an assessment of 12.42 basis points that federally insured credit unions must pay to shore up the NCUSIF, which has

Treasury Official Says Reformed Fannie, Freddie Will Bring Stability

By Claude R. Marx

A top Obama administration official wouldn't spell out its plans for reforming Fannie Mae and Freddie Mac but said the goals of any program will be to ensure available mortgage credit,

Conference Showcases US Central Alternatives

By Heather Anderson

This week, small corporate credit unions whose business models have historically depended upon U.S. Central FCU meet to hear from new providers.

Billion-Dollar Credit Union Membership Drop Mirrors Declines Felt by Smaller Credit Unions

By Michelle A. Samaad

Like some of the smaller credit unions, the bigger, billion-dollar ones are feeling the sting of a drop in membership.

Marketing Vendor Poised to Become Player in Card Processing

By David Morrison

BancVue, the product development and marketing firm dedicated to helping CUs and community banks compete with large banks, has announced a deal with card processing giant

Mergers, Flight to Safety Trigger CU Retail Investment Program Growth

By Michelle A. Samaad

More mergers and more education and awareness were among the top factors that have impacted member use of investment services and products at credit unions in 2009.

CU Association of Oklahoma Picks Jones as CEO

Gary Jones, the former president/CEO of a since-merged Tulsa, Okla. credit union, is the new head of the Credit Union Association of Oklahoma.

Banks Are Still Needed Says Michigan League CEO

While banks are still needed to help bolster the economy, in the meantime, credit unions have much to offer the small business

Survey: Bill Paying Methods Multiply As Consumers' Money Problems Mount

Consumers favor holding on to their money as long as they can, and financial institutions should favor providing them as many options as possible to do just that.

Navy-USA Deal Fires Up Future Think

The planned October merger by Navy Federal Credit Union of the ailing USA Fed CU last week generated both catch-your-breath predictions on the nation's future CU landscape plus stand- your-ground pledges by one West Coast competitor.

Silver State Is Negotiating a Five-Year Extension on $22 Million Loan

By Jim Rubenstein

The ailing $791 million Silver State Schools Family CU of Las Vegas is making slow but steady progress toward recovery even as it seeks to negotiate a five-year extension of a $22

HealthCare Associates Credit Union Taps CFO Joe Kregel as CEO

HealthCare Associates Credit Union didn't have to look too far to find its new leader.

Account Tools

A pair of technology providers said they have combined their human emulation and online account opening tools to help reduce the number of abandoned applications.

Thieves Go Holiday Shopping

Holiday shopping apparently already is underway for cybercriminals out picking up the software and data lists they'll need to steal millions of dollars from compromised banking and

Auto Coverage Is Expanded

A new deal from Open Lending Inc. will allow it to become the insurance provider for a program that provides default insurance coverage for credit union auto loans.

RATA Demographic Data Available

Credit unions wanting updated census tract and other data for use in home mortgage disclosures can take advantage of new demographic data compiled by RATA Associates.

SE Corp Goes to Single Sign On

Southeast Corporate FCU will implement a single user ID and password sign-on to access the $3 billion corporate's Web-based applications. Southeast Corp will

GSG Hosts Webinar

Gateway Services Group LLC has invited credit unions to attend a free webinar on how they can build a marketing plan to promote their investment programs.

With Lending Landscape Changed, TruMark Partners With Student Choice

By Marygrace Murphy

TruMark Financial Credit Union is not new to the student lending market-in fact, it has been making such loans for decades.

Tenet FCU Goes With Mass. Service Bureau

Tenet Federal Credit Union of Anaheim, Calif., said it is now running its core processing operations through the Waltham, Mass., service bureau operated by Credit Union On-Line Inc.

Red River CU Lauded

Red River Credit Union has the distinction of being the only credit union selected as one of The Principal's "10 Best Companies for Employee Financial Security."

IMM Expands Its iPad Offerings

Branded iPad applications for document processing, signature capture and online enrollment have been rolled out by Integrated Media Management.

Green Car Discount Comes to First Tech

Members of the $2.2 billion First Tech Credit Union will have access to a quarter-point annual percentage rate reduction for green car financing through an alliance with the U.S. Environmental Protection Agency.

Boosting Engagement

Boosting knowledge and productivity and employee and volunteer engagement is the focus of this year's CUNA Experience Living Live! conference, to be held Oct. 21?23 in San Diego.

Online Discovery Conference

For the first time ever, CUNA Mutual Group said it will offer its Discovery Conference online.

Mission FCU Promotes Financial Literacy at Local Middle School

Mission Federal Credit Union and the San Diego Chargers have joined forces to score a few financial fitness touchdowns for Nativity Prep Academy.

Harborstone CU Is Honored by Air Force

For its commitment to military personnel and their families, the United States Air Force has awarded its 2010 Air Force Credit Union of the Year honor to Harborstone Credit Union.

NCUA Spells Out Petition Requirements

Individuals can only sign petitions once regardless of how many accounts they have and each nominee for a board membership position must have his own petition.

Fiserv Conference Focuses on Progress, Products and Challenges Ahead

By Marc Rapport

What a difference a year makes. Last year, Fiserv Inc. held its first joint conference for all its credit union clients, following up

Trades Jump on Proposed Rule For Executive Golden Parachutes

The NCUA's proposal to limit golden parachutes and indemnification payments is overbroad and would place unnecessary restrictions on credit union boards, according to

NAFCU Nominates Two to Fed Consumer Council

Duke University Federal Credit Union Chief Operating Officer Daniel Berry and First Financial Federal Credit Union President/CEO Issa Elias Stephan have been nominated by

Columbus Credit Union Boosts Business by Reaching Out to Retailers

By Marc Rapport

A central Ohio credit union said it has increased its retail lending eightfold by automating the process of financing everything from new roofs to Oriental rugs.

Texas CU Offers iPhone App

UNITED SA Federal Credit Union in San Antonio has launched its own mobile banking application for the iPhone and iPod touch users among its 28,000 members.

UMassFive Contracts for Phone Pay

The 25,000 members of UMassFive College Federal Credit Union can now pay loans in real time through their credit union's new arrangement with ACH Federal's pay-by-phone

CPI Provider Enhances Symitar Integration

State National Companies said it has expanded the integration of its collateral protection insurance software with the Symitar Episys platform as it enters into its third year as a member of

Processor Touts Win

An Ohio-based specialist in core processing for small credit unions said it is making a significant move into the Chicago

Warning on Scam Calls

A suburban Chicago credit union is warning its members about fraudulent, recorded phone calls aimed at obtaining account information.

On Fences, Neighbors and the Willingness to Delegate

By Sarah Snell Cooke

Good fences make good neighbors." So says Robert Frost's 1914 poem "Mending Wall." True when plotting a garden, and in the workplace a clear delineation and willingness to delegate is necessary.

Clear the Way for Small Business Lending

A bipartisan consensus of economists has told us repeatedly that one of the keys to creating jobs is increasing small businesses' access to loans. Yet while the economy is inching

A Bend in the Road Is Not the End of the Road...Unless You Fail to Make a Turn

In today's legislative and economic climate, the credit union industry is facing myriad unknowns.

People

Aberdeen Proving Ground Federal Credit Union, Aberdeen, Md., announced that Carole Fraser, APGFCU's assistant manager of support services, has been awarded the designation of certified individual retirement account professional,

Michigan First CU's Careers Website Hooks Applicants to a 'Job Agent'

By Myriam DiGiovanni

The Lathrup Village, Mich.-based credit union recently revamped its careers website (www.MichiganFirstCareers.com) to serve as a one stop online resource.

Report Finds Job Satisfaction Tied to Security and Benefits

A recent SHRM employee job satisfaction research report found that after job security, benefits are a top contributor to job satisfaction. When it comes to

Power Financial Credit Union Rolls Out HSA for Employees and Members

By Joyce Moed

A Florida credit union recently introduced a new health savings account product for its members and employees who have high-deductible health plans.

Scholarships

Alliance Credit Union, Fenton, Mo., selected three recipients for its 14th annual granting of college scholarships.

Survey Details Pay Trends

Although the economy is improving, the improvement is slow and uneven, making employers hesitant to provide wage increases as well as to hire additional staff.

CLF Can Help CUs Build Capital

As one of many credit unions struggling to grow with the ball and chain of limited capital shackled to our ankles, seeing the debate over alternative capital for credit unions is an exercise