Quantcast
Go Search
 

News

WASHINGTON -- Fueled by real estate and economic uncertainty, Loan Health Check-Ups produced by Credit Union Mortgage Alliance Network and the $94 million DVA Federal Credit Union have drawn standing room only crowds in Washington this summer. DVA is an acronym for Department of Veterans' Affairs, and the federal agency hosted the event and promoted it internally among staff....

RALEIGH, N.C. -- As the weather cools this fall, North Carolina State Employees Credit Union will heat up Scam Jam, a program conducted in cooperation with various state agencies as well as private groups....

PORTLAND, Ore. -- CU Business Group LLC said it continues to service those business lending programs that are entering their third, fourth and fifth year of operation even as it adds new clients to its roster....

NORTH HIGHLANDS, Calif. -- SAFE Credit Union has no problem gaining new members and keeping its existing members happy....

NEW YORK -- Two noted Community Development Credit Unions have been have been named as semifinalists for the NEXT Awards For Opportunity Finance. The awards are sponsored by Wachovia Bank, funded by the John and Catherine T. MacArthur Foundation, and include opportunities for low-cost loans and grants....

LAS VEGAS -- As key lenders exit the market and balance sheets improve, credit unions have a unique opportunity to pursue new loan business, said Lee Butke, CEO of Corporate One FCU in Columbus, Ohio....

LAS VEGAS -- Credit unions bent on reaching the youth market need look no farther than how their Web site looks and functions because virtual settings are more important than brick and mortar branches, according to the outspoken 21-year-old director of USC CU in Los Angeles, Justin Ho....

DENVER -- The campaign by some volunteers to gain a stronger voice in the management of trade associations, which cropped up three years ago within NAFCU, looks to resurface again in October at the annual meeting here of the National Association of Credit Union Chairmen....

LAS VEGAS -- Perfect for procrastinators, Silver State Schools Credit Union is already seeing quick uptake of its latest leading-edge offering, a banking-based expedited payments service from Online Resources Corp....

WASHINGTON -- The Small Business Administration is aiming to speed up requests from victims of disasters with the launch of a new online application....

SACRAMENTO, Calif. -- After 75 years of serving its members, The Golden 1 Credit Union has plenty to celebrate....

ATLANTA -- Gradually, the number of credit unions that participate in shared branching has been growing. With that growth, the shared branch networks, through the Credit Union Service Centers Network Inc., have taken steps to formalize and standardize the way shared branching CUs report transactions subject to the Bank Secrecy Act....

WASHINGTON -- If money, as the old adage goes, talks, then CUNA and NAFCU know how to use their microphones....

PLANO, Texas -- Southwest Corporate Federal Credit Union and the Belize Credit Union League signed an international partnership agreement of mutual cooperation August 8 as part of World...

WASHINGTON -- A new report from the National Credit Union Foundation suggested credit unions could strengthen their bottom lines by making more auto loans to otherwise disqualified consumers....

WASHINGTON -- CUNA President Dan Mica and NCUA Chairman Michael E. Fryzel met last week, their first get together since Fryzel took office earlier this month....

MADISON, Wis. -- The 1.6 million year-to-date credit union membership gain, including an estimated 236,000 new members in June, has surpassed all of 2007's numbers by half a million....

WASHINGTON -- The financial health of credit unions and NCUSIF could be threatened by easing restrictions on member business loans, the American Bankers Association told the NCUA last week....

LENEXA, Kan. -- Corporate credit union representatives agree that the Aug. 11 front-page article in The Wall Street Journal ("Mortgage-Market Trouble Reaches Big Credit Unions") is accurate and correctly portrays corporates as the most conservative, risk-averse institutions in the country....

MADISON, Wis. -- A new study from the Filene Research Institute suggests that credit unions shift their operations in a more sustainable direction, partly to help them overcome the limits of their own success....

LOWELL, Mass. -- Jeanne D'Arc Credit Union Assistant Treasurer/Residential Mortgage Loan Originator Elkin Montoya has been honored by Neighborworks America for his commitment to community service and revitalization....

WARNER ROBINS, Ga.. -- After 37 years serving the credit union industry, Robins Federal Credit Union President/CEO John Ruffin will retire, effective Dec. 31, 2008....

ROCHESTER, N.H. -- Holy Rosary Credit Union is reinventing the 'club account' beyond saving for the holidays....

DULUTH, Ga. -- Georgia credit unions have come together to raise more than $34,000 to help those Iowa credit unions affected by the recent summer floods....

ODESSA, Texas -- According to their sworn statements, First Basin Credit Union leaders relied on nothing more than "internal analysis" when they recommended members convert their then $113 million CU into a mutual bank....

WASHINGTON -- Prominent credit union consultancy Callahan & Associates has suggested that qualifying as low-income credit unions could help more CUs access a source of capital other than retained earnings....

HOBOKEN, N.J. -- Current economic conditions have put a strain on financial institutions and the country as a whole, but credit unions are not faltering in the people helping people philosophy through community involvement and donations....

HOUSTON -- As the African American Credit Union Coalition marked the tenth year of its annual meeting, the group celebrated generating $24,000 in scholarships, encouraging the industry to raise nearly $2 million towards the building of the Rev. Martin Luther King Jr. memorial and placing more than 200 college interns nationwide....

FAIRHAVEN, Mass. -- First Citizens' Federal Credit Union said it is the first institution in Massachusetts to complete a mortgage closing for an Iraqi war veteran under a new state-run program aimed at easing the financial plight of returning vets....

In an article in the Aug. 6 issue, "Building Strong Member Connections" on page 1, Trabian's Doug Williams was incorrectly quoted in saying his firm has worked with the Filene Research Institute on innovation research. While both companies research innovation separately and have worked together on other projects, they have not researched innovation together....

PITTSFIELD, Mass. -- Greylock Federal Credit Union said it has surpassed $100 million in commercial lending nearly two years after becoming the first credit union in Massachusetts to become a Small Business Administration preferred lender....

Departments

Facilities
SOUTH BEND, Ind. -- Teachers Credit Union has recently celebrated the grand opening of its second Warsaw Service Center....

WASHINGTON -- Credit unions may have the chance to share their good and bad experiences with federal and state examiners....

WASHINGTON -- Credit unions should take risks but should do so carefully....

As if newer, more robust spam filters weren't enough to pull out the hair of legitimate e-mail marketers, the Federal Trade Commission's final rule enforcing the CAN-SPAM Act became effective July 7. Is it the end of using e-mail to tell members about special offers?...

The Red Flag provisions of the Fair and Accurate Credit Transactions Act take effect on Nov. 1, 2008. Although the final regulations were issued Oct. 31, 2007, and regulators have issued initial guidance, there is still some confusion as to how credit unions can rapidly deploy an effective Red Flag rules program. The good news is that many credit unions already have the processes and technology systems in place that can be leveraged in developing their Red Flag rules program. However, a dedicated effort needs to be employed to ensure appropriate compliance with the new requirements....

WASHINGTON -- Credit unions can hold a campaign event in their offices but can't force employees to buy a ticket. They have to follow more stringent rules if persons outside the credit union are invited....

WASHINGTON -- It doesn't work quite the way American government textbooks describe it: Congress passes laws and leaves it at that, while regulatory agencies like the NCUA and the Federal Reserve get into the nuts and bolts of rules and regulations and are independent, though members are appointed by the president and confirmed by the Senate....

PORTSMOUTH, N.H. -- Three more credit unions have signed on with SilverCloud Knowledge Systems in the past month, the company said....

CAMBRIDGE, Mass. -- Forrester Research Inc. will hold its 2008 security forum this September in Boston....

GLASTONBURY, Conn. -- Open Solutions Inc. is now offering its credit union and bank clients the hardware deployment solution for distributed check capture from Superior Press of Santa Fe Springs, Calif....

VISTA, Calif. -- Bluepoint Solutions Inc., a provider of Check 21 and document management software to more than 750 credit unions, has purchased Avalon International, a provider of net technology for image payment and advanced item processing....

Columns

Editor-in-Chief's Column
People deal with stress of all different types in a wide variety of ways. Whether problems are personal or financial, some handle stress by applying drugs as a temporary fix to cover up their wounds or some other bad habit. Others are determined to convert their anxiety into positive energy by picking up a long lost hobby or exercising....

Recently, there's been news coverage on the trend by some gas station owners to offer discounts for drivers who pay in cash. While not widespread, these discounts are popping up at gas stations across the country--from Arizona, to Missouri, to Connecticut, to Florida. And while they can save consumers a few bucks, the real reason behind the discounts is to reduce the credit card fees retailers pay to the credit card issuers....

According to news coverage in Credit Union Times, in some sectors of the credit union industry there is renewed interest in obtaining access to alternative capital. Additionally, in her opinion column, Editor-in-Chief Sarah Snell Cooke revealed her reservations about alternative capital but also adamantly stated, "Credit unions want and need their options."...

HOBOKEN, N.J. -- With the tail end of the 2008 Olympics underway in Beijing, Credit Union Times looks back 12 years to the 1996 Olympic Games that were held in Atlanta....

On-Site Conference Coverage

HOUSTON -- Florida is so deep underwater in foreclosures that Fannie Mae has a special division devoted primarily to aiding the beleaguered state....

HOUSTON -- With little to no cost to establish, a 33-year Internal Revenue Service program that offers free tax preparation to low- to middle-income filers continues to draw the attention of credit unions....

HOUSTON -- It's not that some smaller credit unions don't want help from larger credit unions but for the suspicious, the offers of help might be masking hidden merger intentions....

HOUSTON -- Twenty years ago, if asked what was the most important criteria for running a successful credit union, most would probably answer being well-capitalized....

HOUSTON -- The wildly popular Disney Channel character Hannah Montana may just be the starting point credit unions need to jump-start their efforts to reach Generation Y, that group of 30 million born between 1983 and 1997....

People

Billlionaires Club
LENEXA, Kan. -- If you're happy when a couple hundred members turn out for your annual meeting, prepare to be jealous....

EASTVermont Federal Credit Union, Burlington, Vt., announced that President/CEO Joseph M. Finnigan has retired. Finnigan will remain on as treasurer of the board of directors through at least his full term which commences in 2010. Finnigan was president/CEO at Vermont FCU for the past 30 years and helped the credit union grow from $1.5 million in assets to the fourth largest credit union in Vermont with $215 million in assets and over 250,000 members.Capital Communications Federal Credit Union, Albany, N.Y., announced the hiring of two managers. Maureen Holteen has been hired as the manager of risk management. Holteen will be responsible for fraud and security training and prevention and the physical security of all locations and regulatory compliance. She was previously employed as the east region security manager, vice president at KeyBank. Christine Calacone was hired as the Niskayuna branch manager. She was previously employed as branch manager for Pioneer Savings Bank.SEFCU, Albany, N.Y., announced the hiring of Nicole Stein as director of marketing. Stein has more than 14 years of marketing and public relations experience. She most recently was the senior account executive for Media Logic. Stein is also a board member of the AIDS Council of Northeast New York, the 2009 Fire and Ice gala chair for the American Red Cross of Northeast New York and a past president of the New York Capital Region chapter of the American Marketing Association....

Other

Wauna Federal Credit Union, Vernonia, Ore., announced that its Vernonia branch was honored with the business of the year award from the Vernonia Chamber of Commerce. The award is voted on by members of the chamber and is based on the businesses contribution to the community. The Vernonia branch participates in events held by the chamber that include the annual scarecrow competition, which Wauna has won twice, and most of the parades. The branch also attends chamber meetings and supports the buy local theme....

BRISBANE, Calif. -- Highly tenured CEOs, the increasing size and complexity of credit unions and generational gaps are contributing to an unpleasant new industry trend: CEO sticker shock....

PLANO, Texas -- Feeling pessimistic about the financial future? According to Southwest Corporate Federal Credit Union's latest CEO confidence index, you're not alone. The overall index fell for the fifth consecutive quarter, with July 2008 confidence down 22 points from last year, to only 17.77....

Issue Archives