Credit Union Times Magazine September-29, 2010

Front Page News


  • MAC Unveils NOW Awards

    The Marketing Association of Credit Unions wants to honor your virtual, viral and electronic efforts by kicking off the MAC Marketing NOW awards.

  • Sale of Impaired Bond Nets $7.5 Million Gain for Members United

    The $7.4 billion Members United Corporate FCU found a way around accounting rules that prevent investors from recovering bond losses once they are written down as OTTI: sell it rather than hold it to maturity.

  • Members Partners With Altisource

    Members United Corporate FCU announced Sept. 22 it had signed a strategic alliance with Altisource Portfolio Solutions.

  • California Commissioner Warns Against Short-Sale Fraud

    California Real Estate Commissioner Jeff Davi warned the state's financial institutions in a fraud alert that his department has noticed a sharp increase in short-sale fraud.

  • Tinker FCU's Robot Lures Kids to Save

    Could a cute robot made of cardboard and recycled bits along with his sidekicks Penny, Pig and Boxy make savings fun for kids?

  • Report Recommends Corp Evolution

    CUNA's Corporate Credit Union Next Steps Working Group released its report Sept. 20, announcing the Terry West-chaired team thinks the current corporate system might evolve into the best provider of credit union financial services.

  • Hoosiers Say Think of Us First

    Indiana Members Credit Union's latest awareness message to locals is pretty clear- Think Of Us First.

  • Partners 1st Merger

    The $236 million Partners 1st Federal Credit Union of Fort Wayne, Ind., will be adding to its footprint next month when it merges with the nearby $2 million Food Marketing FCU.

  • SE Corp Helps After Robbery

    Southeast Corporate Credit Union, headquartered in Jacksonville, Florida, recently provided support to a smaller local CU in the wake of a burglary.

  • Tech Jobs Recover

    The once high-charged job market for high-tech workers showed some meager signs of life in the first half of 2010, according to the TechAmerica Foundation.

  • FICO Rolls Out Package to Help CUs More Accurately Target Card Offers

    The Fair Isaac Corp., the parent of the widely used FICO credit score, is emphasizing the ways some of its analytical tools can help credit unions and other card issuers better target their card offers.

News Briefs

  • First North Carolina Charter in 10 Years

    The first new North Carolina charter in 10 years, Shepherd's Federal Credit Union, opened for business this month in Charlotte.

  • Akcelerant-Symitar Pact

    Akcelerant said it has signed a partnership agreement with Symitar, allowing the company to market its collections software and other solutions to credit unions running on the widely used core processing system from Jack Henry & Associates.

  • Conn. League Joins Scam Alert Rollout

    A national program aimed at educating consumers and tellers about high-tech fake check scams has gotten under way with a rollout in Connecticut.

  • Consumers Tap 401(k)s To Stop Foreclosures

    Ninety-eight percent of 401(k) hardship withdrawals made in 2009 were used to prevent eviction or home foreclosure, according to a new survey.

  • Cashed-Out CDs Used To Pay Credit Card Debt

    Looking for ways to pay down credit card debt and lines of credit, during the first half of the year, consumers cashed in about $29 billion from their maturing certificates of deposit to do so.

  • Australian CU Reaches Out to Aboriginal Members

    Credit unions in the U.S. have faced a similar dilemma when marketing to immigrant populations: How does an institution communicate with members who can neither understand English nor read or write their own native language?

Editor-in-Chief's Column


Letters to the editor


  • CU Supplemental Capital Is a Decade Overdue

    NASCUS and state regulators remain steadfastly supportive of supplemental capital for credit unions.

  • Verbatim

    The NCUA Board on Sept. 16 approved a share insurance fund premium of 12.42 basis points. At that board meeting Chairman Debbie Matz read a statement. An excerpt:

On-Site Conference Coverage


  • Matz Says Solving Corporate Woes Will Help Industry Turn Corner

    WASHINGTON -- The NCUA's finalization of its revamped corporate credit union rules and plan for dealing with legacy assets will enable the industry to begin turning the corner on a "painstaking and frustrating period," Chairman Debbie Matz said.

  • Kanjorski Eyes GSE Reform

    WASHINGTON -- Overhauling, not eliminating, Fannie Mae and Freddie Mac will be the top priorities of Congress' reform efforts next year, Rep. Paul Kanjorski (D-Pa.) told attendees.

  • Warren Says New Agency, CUs Will be on 'Same Side'

    WASHINGTON -- The woman leading the setup of the new Consumer Financial Protection Bureau said she hopes to work closely with credit unions and if "this thing works out right, consumers and credit unions will be on the same side of the line."

Focus Report


  • People

    Hanscom Federal Credit Union, Hansom, Mass., announced that Kevin Reagan has been named assistant vice president of mortgage operations.


  • Community Events

    Andrews Federal Credit Union, Suitland, Md., participated in Rep. Donna Edwards (D-Md.) job fair at the Prince George's Sports and Learning Complex in Landover, Md.

  • Donations

    BayPort Credit Union, Newport News, Va., is providing local teachers with 25 grant opportunities up to $300 each to fund innovative financial literacy programs in the classroom.

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