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July 23, 2008
News
DealerTrack Software Connects CUs With Auto Dealers
LAKE SUCCESS, N.Y. -- DealerTrack Holdings Inc. has implemented a software program that connects car dealers with credit unions across the country....
Utah CU Adds OneCard Plus
PROVO, Utah -- Utah Community Credit Union and Utah Valley University have worked together to offer students a card with keyless building access, a bus pass, access to athletic events and a Visa debit card all in one....
CUNA Mutual Group Adds to Retirement Plan Team
MADISON, Wis. -- CUNA Mutual Group has hired a new member to its team to help build successful retirement plans....
Key Vendors Are the Ones That Will Draw Most Scrutiny From NCUA
CU Times Correspondent-at-Large...
PSECU Member Objects to 10-Year Auto Loan, Calling It Predatory
CU Times Staff Reporter...
House Judiciary Panel Passes Interchange Measure on a Close Vote
CU Times Washington Reporter...
Housing Measure Snagged by Political Maneuvering and Fannie-Freddie Debate
CU Times Washington Reporter...
Member Reassurance Follows Billion-Dollar Brewery Merger
ST. LOUIS -- Anheuser-Busch Employees' Credit Union is reassuring its 99,000 members that the financial institution will remain independent following news that Anheuser-Busch Cos. and InBev have agreed to merge creating a $52 billion global brewery....
N.H. Credit Union Acts as Members' Guardian Angel, Filing $4.2M Lawsuit
BERLIN, N.H. -- Claiming that a bank employee may have taken $4.2 million in certificates of deposits from its members, Guardian Angel Credit Union has filed a class action suit to recover the money plus accrued interest....
New Mortgage Rules Will Teach Others What CUs Already Know
WASHINGTON -- Other lenders will have to be as careful as most credit unions have been in making home loans as a result of rules approved by the Federal Reserve last week....
Mid-Atlantic Corporate Goes First With Rebranded Business ACH Offering
MIDDLETOWN, Pa. -- Mid-Atlantic Corporate Federal Credit Union and Fundtech Ltd. are breaking some new ground together....
Come One, Come All: New Texans CUSO Targets CUs, Banks, Others
CU Times Senior Staff Reporter...
IA Systems Signs Three
ALBANY, N.Y. -- Three more credit unions--all in the Pacific Northwest--have said they will use the StreamLend Velocity loan origination system from IA Systems....
Credit Scores Are Still Misunderstood by Most Consumers
WASHINGTON -- Although consumer understanding of credit scores has improved over the past year, it remains poor, according to the latest credit score survey commissioned by the Consumer Federation of America and Washington Mutual Bank....
Foreclosure White Paper Provides Guidance to Missouri CUs
CU Times Senior Correspondent...
Steer Clear Auto Lending Summit Points CUs to Nonprime Borrowers
CU Times Staff Reporter...
Budding Entrepreneur Wins for 'Big Idea'
KANSAS CITY, Mo. -- With business plan in hand for the creation of a home health assisted living company, Shila Poindexter started searching for resources to get her business off the ground....
World CU Conference
HONG KONG -- Credit unions worldwide continue to nimbly adapt to shifting economic, social, political and even conflict situations, according to World Council of Credit Unions CEO Pete Crear....
Loss of Interchange Income Makes Members Biggest Losers in Australia
HONG KONG -- A cap on card interchange similar to one promoted by some U.S. retailers has turned Australian CU card programs from being contributors to their bottom lines to net money losers....
U.S. Central's Audited Financials Reveal a $51 Million 2007 Net Loss
LENEXA, Kan. -- U.S. Central released its final, audited 2007 financials July 14 with news of a $51 million net loss. It's another blow to the corporate's corporate, which had its pristine AAA long-term debt rating downgraded earlier this year and still remains on ratings watch negative with the major ratings agencies....
Regulators and CUs Assure Members That Their Deposits Are Safe and Secure
WASHINGTON -- As one bank in California suffered death throes, some depositors throughout the country decided it was time for a check up....
Las Vegas-Based Nevada Federal CU Showcases Products for the Careless
SAN DIEGO -- While much payday lending talk has revolved around those who prey on enlisted servicemen and women, $850 million Nevada Federal Credit Union also faces stiff competition from Las Vegas alternative financial service providers....
IMM Updates TotaleAtlas
LINDEN, N.J. -- Integrated Media Management has released a new version of its flagship document preparation solution....
DCU to Deploy Guardian Analytics Fraud Prevention Solution
MARLBOROUGH, Mass. -- Digital Federal Credit Union (www.dcu.org) will use the FraudMAP solution from Guardian Analytics as part of its online fraud prevention strategy....
Three CUs Receive 'Go Direct' Honors From Treasury
WASHINGTON -- As part of its Go Direct campaign that encourages switching Social Security benefits from paper checks to direct deposit, the Department of Treasury has recognized three credit unions for their efforts....
Enterprise Opens Access to Car Inventory
ST. LOUIS -- Enterprise Car Sales now has a program available to credit union members that grants them access to a nationwide used car inventory and to have a selected vehicle transferred to their closest Enterprise location....
Departments
Credit/Debit/ATM
Vendor Thrives, CUs React as Pa. Goes With Electronic Lien and Title Management
CU Times Technology Correspondent...
Time to Expand: Vendors and Applications Aplenty in Online and Mobile Banking
CU Times Technology Correspondent...
Cardwell Marks Quarter Century of Recruiting, Consulting and Now Technology
CU Times Technology Correspondent...
Account Opening Added to APPRO Lineup
ATLANTA -- Equifax is now offering an online account opening solution as part of its lineup of APPRO products....
Special Report
Opinions
Sky Isn't Falling but Overdraft Fees Should
"These are the times that try men's souls." This was the battle cry that heralded the American Revolution over 200 hundred years ago. No words are more apropos than these regarding the changes and controversy swirling around overdraft services today....
Leverage Your Mobile Financial Services to Serve the Most Demanding Members
Are mobile financial services finally here? Your credit union is providing mobile financial services now, and you may not even know it. Studies show that up to two-thirds of all calls to member contact centers in 2007 are coming from mobile phones, and this will grow to over 85% by 2010. Mobile phone initiated calls to credit unions have grown in a one-to-one ratio with the growth of cell phone penetration--which is expected to reach over 100% in the U.S. by 2013....
Columns
Editor-in-Chief's Column
Sittin' on the Dock of the Bay, but Not Wastin' Time
As I'm sure many have experienced in recent months, my trip to NAFCU's annual conference in San Diego began with hanging around the airport for a few hours until my flight was so late that there was no way I'd make my connection. I was forced to reschedule for o-dark-30 the next morning. Fortunately, that flight worked out, and I arrived for the afternoon sessions of the opening day and the meetings I had planned....
Letters
I just read Lindsey Siegriest's column on "Searching for a Credit Union, but Coming Up Empty" (Gen Y Back Talk, CU Times, July 2), and I loved the story. I have been working in the credit union industry since 1990 and am one of those many middle-aged people in management within the credit union industry....
Publisher's Notebook
Pet peeves! Everyone has them. My list is far too long to identify here, but I do want to touch on a few that might resonate with you....
On-Site Conference Coverage
U.S. Economic Situation Is Temporary Malady; CUs Can Provide the Elixir
CU Times Senior Staff Reporter...
WOCCU Hong Kong Conference Looks Warily at Likely New Regulatory Push
CU Times Senior Staff Reporter...
Differing Views on Executive and Director Pay, Conversions and Going Green
CU Times Senior Staff Reporter...
NCUA's Hood Hopes Blueprint 20/20 Will Help Young Executives See Clearly
CU Times Correspondent-at-Large...
CUs Not Effectively Leveraging ATM Technology, Says Processing VP
CU Times Correspondent-at-Large...
The Low Down on the Pink 'Do
SAN DIEGO -- Carol Kohutek of San Angelo, Texas, raised hundreds of eyebrows at NAFCU's 2008 Annual Conference, standing out with hair dyed shocking neon pink....
People
In Memoriam
Joseph Perkowski, CU Leader at all Levels, Dies at 72
CU Times Washington Reporter...
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