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2008
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March 5, 2008
News
In Other News
In Other News
Donations, Awards, Milestones, Scholarships, Branching Out...
Generations Community CU Appoints President
Generations Community Credit Union announced that Linwood Bowen has been hired as its new president....
CUSO Financial, dataVISION Mark 10-Year Anniversary
CUSO Financial Services, LP is celebrating the 10th anniversary of its proprietary dataVISION integrated account management system with the release of several new features....
Credit Union Day Draws Praise from Legislators
Nearly 200 credit union advocates from across Minnesota gathered in St. Paul on Feb. 20 to meet with legislators as part of the state's annual Credit Union Day....
Mobile ATMs Find New Fans
Two big credit unions, one in Texas and the other in Virginia, are showing heightened interest in those high-tech mobile ATMs, making use of them for branding and operational advantage....
1st United Services CU Transfers Branches to Navy Federal
1st United Services Credit Union is transferring the operation and management of its Lemoore and Fallon branches to Navy Federal Credit Union....
Charter Expansion Approved for Atlanta Postal Credit Union
The George Department of Banking and Finance has approved Atlanta Postal Credit Union's application for a charter expansion. ...
EasCorp Remote Capture Service at Paragon Kiosks
Paragon Federal Credit Union is now using EasCorp's remote capture service at the $375 million CU's self-service kiosks....
Clinton Issues Agenda Takes Aim at Fair Lending Practices, Access to Credit
Senator Hillary Rodham Clinton (D-N.Y.), in the midst of a heated race for the Democratic primary nomination, issued a comprehensive plan at the end of January aimed at ensuring fair access to credit on reasonable terms for Americans....
Fiserv, Inc. President/CEO Presents at Conference
Fiserv, Inc. President/CEO Jeffrey Yabuki presented at the Baird Business Solutions Conference on Feb. 28....
US Federal CEO Named Due Diligence Task Force Vice Chair
US Federal Credit Union President/CEO Bill Raker has been recently named vice chair of the new Due Diligence Task Force assembled by CUNA....
Andrews Federal Unveils AndrewSaver Program
Andrews Federal Credit Union wants consumers to know that it is a great time to develop a savings program to plan their financial future....
Wolters Kluwer Offers Internal Fraud Tools
Wolters Kluwer Financial Services is offering a new anti-fraud platform that includes tools specifically aimed at identifying and tracking internal problems in real time....
Member One FCU President/CEO to Retire
President/CEO of Member One Federal Credit Union Richard Williams announced that he will be retiring....
Salt Lake Marketer New Communi-cations Head at Utah League
The Utah League of Credit Unions has named a new head of its communications area, Jim Bennett, who previously headed up his own Salt Lake City marketing firm and is a former campaign advisor to Senator Orrin Hatch (R-Utah)....
Clark County CU Grows Commercial Loan Portfolio to $80 Million
In just three years, Clark County Credit Union has grown its commercial loan portfolio to $80 million through the use of Wolters Kluwer Financial Services' Rembrandt Lending System, according to the company....
New Homes Sales Receive Third Strike
NAFCU's Macro Flash Report noted that new homes sales declined for the third month in a row....
Recession Fears, Retirement Woes, Plague America's Middle Classes
Amid growing fears of economic recession or worse, America's workforce is struggling to cope, and neither the recently-passed stimulus package nor the Federal Reserve's rate cuts will fix what ails the nation's shaky situation, said former Secretary of Labor Robert Reich....
CUNA's Campaign Schools Take on New Urgency
Arguing grass-roots advocacy needs a stronger boost, CUNA is revving up its campaign schools at the state league level, signing up several new groups to conduct more of the educational seminars on fundraising and campaign organizing targeted toward office-seekers....
Naming the Heroes - Wegner Awards Celebrate 20th Anniversary of Recognizing Greatness
While it's clear that former CUNA leader Herb Wegner would almost certainly appreciate the awards named for him, one of his former employees is not entirely sure he would approve of them....
First Basin Members Seeking To Replace Board Members
Members of the $115 million First Basin Credit Union who opposed the CU's recent attempt to change its charter to that of a mutual bank have begun to organize other members to replace board members....
Passageways Partners with CU*Answers In 'Portal of Portals'
Passageways LLC has nearly doubled the number of credit unions it serves with a single stroke of the pen....
Clackamas FCU Recognized as Business of the Year
Clackamas Federal Credit Union has been named business of the year-for the second time in three years--by the Oregon City Chamber of Commerce. ...
CUNA Mutual MemberCONNECT Webinar Talks Possibilities
CUNA Mutual Group is touting the flexibility of MemberCONNECT, which provides an analytical approach to relationship building....
MDDCCUA President/CEO Latest CUOSI Board Member
Maryland & District of Columbia Credit Union Association President/CEO Mike Beall has been named an ex officio member of the Credit Union Outreach Solutions, Inc. Board of Managers....
YouTube Checking Account Contest Draws Generation Y Members to Fairfax County FCU
When it comes to getting the word spread on a potentially good deal, the 18-to-30-year-olds that make up Generation Y are most likely the most adept through their heavy use of text messaging....
NACUSO Seeks Collaboration, Innovation, and Resources
Tom Davis acknowledges that there are so many issues of pressing concern in the industry, NACUSO can't possibly address all of them but he's hoping the trade group's mantra of collaboration and innovation can help tackle the hot priority ones....
Financial Advisors Receive Words to The Wise As Boomers Tap Retirement Funds
Financial advisory firms that are not ready to advise on the distribution phase of retirement funds could see a considerable outflow of assets as the first wave of baby boomers enter retirement this year, according to a new report from Celent....
Mixed Marks in Making the Grade in Banking Security
Financial institutions are making progress in protecting consumer identity and customer accounts but there's more work to be done, and getting the consumers themselves more involved would be a good way to start. Those are among the conclusions of Javelin Strategy and Research's annual ranking of bank and credit union effectiveness across various channels of security....
Bush Nominates SBA Inspector General
President George W. Bush has nominated Carol Dillon Kissal to serve as inspector general for the Small Business Administration....
Mica Gives Advice on Saving
With "America Saves" week, Feb. 24-March 2, coming to a close, CUNA President/CEO Dan Mica listed some of the best ways for Americans to build their savings. ...
President's Stimulus Bill A Win for Small Businesses, SBA Says
The Small Business Administration is confident President Bush's newly-signed Recovery Rebates and Economic Stimulus for the American People Act of 2008 will register as a win for small businesses....
CACU Gains Summit Business Media as Sponsor
Communicating Arts Credit Union has gained Summit Business Media as a sponsor company....
Desert Schools FCU Moves Forward with Commercial Real Estate Financing
While other lenders are pulling back in a tough real estate market, Desert Schools Federal Credit Union said it is moving forward with providing loans to either finance or refinance commercial property including professional offices, retail, warehouse, and industrial-zoned buildings....
CUNA Councils Show New Look At GAC
The CUNA Councils presented its new look at the Governmental Affairs Conference this week....
TNB Brings On Another Executive
TNB Card Services, the card portfolio management arm of credit union owned Town North Bank, has brought another executive on board to help manage its steadily growing business....
Clinton Ahead in Texas League Poll
Texas voters go to the polls on March 4 for the presidential primary, and if a poll on the Democratic side by the Texas Credit Union League provides any clues, Hillary Clinton looked to be ahead of Barack Obama at press time....
CUs Gearing Up For CURIA Hearing
Credit union trade groups are prepping their witnesses for a hearing before the House Financial Services Committee on the Credit Union Regulatory Improvements Act (H.R. 1537) and other regulatory improvements for CUs....
Small Ohio CU Deploys Mortgage Tools
Superior Savings Credit Union is now using the FirstClose bundled mortgage settlement platform to help automate the $11 million CU's mortgage operation....
New York League Working To Let NY State CUs Accept Municipal Deposits
The New York State Credit Union League is supporting a measure that would allow credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations....
CUs Resist Community Reinvestment Reporting, Though Some Insist 'This is No Longer Your Father's CRA'
Even as the question of whether credit unions should have a community reinvestment component to their regulation reappears on the national agenda, credit unions remain unified in responding "no."...
Beware of Phishers Posing as NCUA, Alert Warns
The NCUA issued a fraud alert for all federally-insured credit unions about a recent phishing attempt to obtain credit card account numbers and expiration dates....
Too Good To Sell? CU Card Performance Continues To Rise; Card Portfolio Sales Drop Markedly
An examination of credit union data from last year reveals that in the face of growing problems in the nation's credit markets, credit union card portfolios continued arcing upward in 2007 even as the market for those portfolios showed the sharpest decline in six years....
Visa USA To Offer IPO In The Face of Troubled Market
More details have come to light about Visa USA's planned initial public offering of stock that the card brand said is still planned even though market conditions would appear to discourage it....
New Hand At The Helm - Incoming CUNA Chairman Sees Days Of Challenge, Opportunity Ahead for CUs
Tom Dorety, the CEO of the $5.9 billion Suncoast Schools Federal Credit Union and the incoming CUNA chairman, sees days of challenge and opportunity ahead for credit unions as they seek to serve their members through one of the more significant economic downturns the U.S. has seen recently....
Ontario CU Goes from Legacy DOS to Web-Based Core System
Prime Financial Savings and Credit Union has gone from the 1980s to the 21st century in one fell swoop....
St. Rose Parish CU Reflects Earlier Credit Union Era
Imagine it's President's Day, most financial institutions are closed, and a college student really needs a check....
Barksdale FCU President/CEO to Retire
After 24 years of leading Barksdale Federal Credit Union President/CEO Arno Easterly is retiring....
Teres Solutions Names CU Veteran to Product Management Post
Teres Solutions has hired a longtime customer from a local credit union to be the lending software company's new vice president of product management....
SilverCloud Grows Client List
SilverCloud Knowledge Systems said four new credit unions were added to its client list last month and two others expanded their use of the company's software....
Austin Credit Union, Vendor Fight Credit Crunch with Software
Automated lending solutions are playing an increasingly crucial role in helping credit unions deal with the new realities of the credit crunch and rate environment....
Federally Insured CUs Report Loan, Share, and Delinquency Increases
The nation's 8,100 federally insured credit unions reported solid loan and share growth along with an increase in loan delinquencies and membership expansion for 2007....
American Airlines FCU Features A Night With Retiring CEO, John Tippets
American Airlines Federal Credit Union held "A Night with the CEO" on Feb. 12 that featured President/CEO John Tippets....
Pentagon FCU Integrates with Fiserv ECM Solution
A new enterprise content management system from Fiserv Inc. will help automate mortgage loan origination and servicing functions at Pentagon Federal Credit Union....
Georgia CU Gets Branch Capture Going in the Fast Lane
When everyone pulls the same way, things get done fast. ...
Cooperatives, Little Recognized, But Engrained in U.S. History
Although most credit union members and even many CU staff fail to recognize it, they are part of a global industry that has roots in the U.S. going back to revolutionary times....
CU Movement Mourns Bob Swan
Former NCUA Board Member Robert Swan has died of complications from a stroke....
CO-OP Financial Services Expands ATM Footprint In Florida
The contest between two rival credit union-owned ATM networks rolled into Florida last week as CO-OP Financial Services announced that its subsidiary, CO-OP Network, will be available in Walgreen drug stores across the state....
Employers Using Benefits Enrollment Systems To Drive Employee Behavior
A new survey by the consulting firm Watson Wyatt Worldwide finds that employers are using their benefits enrollment systems to encourage employees to adopt healthier behaviors....
Washington League Launches Search for 75th History Fete
Marking its 75th year as one of the state's oldest trade associations, the Washington Credit Union League said last week it is on a months-long mission to collect memorabilia from CU executives across the U.S. as part of its fall celebration....
Removal of Member Business Lending Provision from CURIA for Bill Traction Still Up for Debate
Whether the Credit Union Regulatory Improvements Act (H.R. 1537) gains more momentum if a pivotal member business lending provision was scrapped still remains a relatively quiet debate....
SBA's Online Business Assessment Usage Tops 125,000
WASHINGTON -- More than 125,000 entrepreneurs interested in starting or expanding a business have used the Small Business Administration's newest online assessment resources....
FSS Keynote Speaker To Address Mortgage Market Opportunities
Prime Alliance Executive Vice President Dan Green, who has been tapped as the opening keynote speaker for the 2008 Financial Solutions Symposium, says the mortgage market still offers opportunity for credit unions....
New Jeanne D'Arc Leader Seeks Ethnic Diversity and Sameness of Purpose
When Mark Cochran took the helm at Jeanne D'Arc Credit Union last summer, he knew that getting everyone on the same page was a critical part of the transition. It still is....
Indiana ignite Group Surfing for Ideas
'I've got an idea' is a phrase you're likely to hear often around Indiana credit unions if the Indiana Credit Union League's ignite program works as expected....
A Lasting Legacy: H.R 1151 Remembered on 10th Anniversary
On Aug. 4, 1998, Congress cleared H.R. 1151 to the White House; three days later, President Bill Clinton signed the legislation into law as The Credit Unions Membership Access Act....
Key Congress Members in Good Position for Re-Election
So far, certain members of Congress key to credit unions appear to be in good standing for re-election, according to NAFCU Director of Political Affairs Dillon Shea....
Ross, Acting Head, Named Top Michigan Regulator
Kenneth Ross, a former vice president of regulatory and legal affairs for the Michigan Credit Union League, has became the state's top CU regulator after holding down the job on an interim basis for the last six months....
WOCCU Signs Former Maryland Senator Sarbanes As Conference Keynote Speaker
Paul Sarbanes, the former Democratic Senate Banking Committee chairman from Maryland and co-author of the Sarbanes-Oxley legislation, will keynote the World Council of Credit Unions' 2008 World Credit Union Conference. This year's event takes place in Hong Kong July 13-16....
IT Experts Become Hackers At NAFCU Technology and Security Conference
Attendees of the NAFCU Technology and Security Conference last week took on a unique approach to learning about the security dangers of hackers....
EasCorp, FSCC Go First with Overseas Remote-Deposit Capture
EasCorp has helped a New Hampshire credit union go live with overseas remote deposit capture, adding a new level of Check 21 convenience to the working lives of service members deployed in Europe. ...
Despite Castro Resignation, Canadian CU Cardholders Still Caught in U.S. Embargo
Fidel Castro may have resigned as Cuba's president but the impact of his long-running feud with the United States can still be felt by thousands of Canadian MasterCard holders whose plastic has been rendered useless in the popular tourist destination. ...
St. Mary's Bank Turns 100th Anniversary Into Brand-Awareness Campaign
It's not everyday you turn 100 and St. Mary's Bank, the industry's first credit union, plans on celebrating well into 2009. ...
CEOs Agree FOM Background Helps On the Job
New CEOs expect a learning curve when it comes to new fields of membership, but do CEOs with backgrounds that match their FOMs have an advantage over their peers?...
NAFCU's Becker Sourced In CEO Mag
NAFCU President/CEO Fred Becker was profiled in the Feb. 1 issue of CEO Update, a Washington-based publication that caters to association and non-profit executives....
CUNA Hoping Local CU Involvement Will Expand Radio Show Audience
One of the lessons CUNA learned in launching its "Home & Family Finance" radio program is station managers are more likely to respond to requests for air time if they come from a local credit union rather than a big name, Washington-based trade group....
Convert, Or Else: Who's Really Driving The Imaging Revolution?
Odessa Employees Credit Union Manager Sheila Kelly couldn't believe it when she got a letter from Citibank last fall, informing her that she had 30 days to close her $8 million credit union's "unprofitable" depository account, or it would be closed for her....
CommunityAmerica CU COO Announces Summer Retirement
After 36 years in the credit union industry, it is the collaborative service culture that CommunityAmerica Credit Union Chief Operating Officer Mike Patrick will miss most when he retires this summer....
FORUM CU's Common Sense Consultative Approach to Training Earns Accolades
Want a great training program? Then don't be afraid to scrap some things and start from scratch, said FORUM Credit Union Assistant Vice President Training/Quality Service Andy Janning....
WOCCU Secures Religious Edict or "Fatwa" for IFC in Afghanistan
The World Council of Credit Unions has received a Fatwa, a religious edict or ruling on Islamic law issued by an Islamic scholar, from the head of a mosque and an Islamic religious school here. The edict endorses the Laghman Investment and Finance Cooperative to do business....
Houston Credit Union Buys Three Shared Branch Facilities
n another indication of the move from stand-alone, shared branching facilities to shared branching outlets, a Houston-based credit union has announced the purchase of three stand-alone shared branch facilities, planning to convert them to its own branches with shared branch outlets....
Who's Who in America's Credit Unions Announces Inductees
The inaugural edition of Who's Who in America's Credit Unions includes 8,804 unsung heroes and high-profile leaders of the credit union movement....
Subprime Collapse Had Little Impact on Business Lending in 2007, TowerGroup Reports
A bright spot emerged in the commercial and business lending in 2007 despite the subprime mortgage collapse and less than stellar consumer lending news last year and into 2008....
Subprime Collapse Had Little Impact on Business Lending in 2007, TowerGroup Reports
A bright spot emerged in the commercial and business lending in 2007 despite the subprime mortgage collapse and less than stellar consumer lending news last year and into 2008....
Michigan First Helps Inspire Future Leaders
Michigan First Credit Union is looking to help foster future leaders. ...
SBA Partnership Renewal Aims to Expand Minority Businesses
The Small Business Administration aims to broaden its outreach to minority entrepreneurs through a renewed partnership with the Minority Business RoundTable....
Beyond Party Lines, CUNA and Leagues Join in Building Vet Homes
Joining with the Colorado and Minnesota leagues, CUNA last week announced a high- profile "support the troops" project to help build two $150,000 homes for wounded Iraqi war vets in a linkup with the Republican and Democratic National Conventions this summer. ...
Greenville FCU Beta Tests Digital Storage Tools
Greenville Federal Credit Union has cut the amount of times it takes to find a member's canceled check from hours to just seconds....
State Legislative Leaders Show Support for Iowa CUs, 'The Little Guy'
Governor Chet Culver and NCUA Chairman JoAnn Johnson were featured speakers at the annual Iowa Credit Union League Legislative Issues Conference....
WOCCU Speaks Out For "Unfettered" CU Access
The World Council of Credit Unions participated in a U.S. Treasury-led effort to maximize access to financial services for citizens of emerging Latin American countries....
Andrews Federal Helps Make Injured Soldiers More Comfortable
Andrews Federal Credit Union helped transform the Warrior Transition Unit located in Wiesbaden, Germany into more of a comfortable retreat for recuperating soldiers....
Dialing in on Mobile Finance: Growth Lies Ahead
Mobile communications is booming. ...
TNB Releases White Paper
TNB Card Services, the card portfolio purchasing and management arm of credit union owned Town North Bank, has issued a white paper that the firm hopes will help more CUs improve their credit card programs. Credit unions which issue cards have seen an uptick in their card performance for a few quarters now, but TNB said that there were still CUs which need to tweak their card performance even more....
Another CU Opts To Process With TNB
In a move designed to strengthen its credit card portfolio and improve the product for cardholders, The $85 million People's Federal Credit Union of Amarillo, Texas, has moved its card processing to TNB Card Services....
MasterCard Consultants Looking At Small Business Card Needs
MasterCard Advisors, the professional services arm of MasterCard Worldwide, today introduced The Small Business Study, an in-depth report of cardholders' spending, attitudes, and preferences across the leading small business card issuers....
HSA Opportunity Still Knocking Will CUs Answer The Call?
According to data collected by Callahan & Associates during the last quarter of 2007, the majority of credit unions still aren't offering Health Savings Accounts....
Kramer Gives Testimony at Public Budget Hearing
In one of a number of public budget hearings to be held by Senate Finance and Assembly Ways and Means, Amy Kramer vice president, Governmental Affairs, gave testimony on behalf of the New York State Credit Union League and the New York credit union movement. ...
PRIMEVEST Names Redstone Top CU Program of 2007
PrimeVest Financial Services, a broker-dealer exclusively serving financial institutions has recognized Redstone Federal Credit Union as its Credit Union Program of the Year. ...
CUs Team Up On Shared Branch
Patelco Credit Union and Mission SF Federal Credit Union (formerly Mission Area Federal Credit Union) have teamed up to open a new shared branch....
Discover Rolls Out Card Management Tools
Discover Financial Services has announced two new financial tools, the Paydown Planner and the Purchase Planner to help cardholders better manage their debt load. The card brand said these easy-to-understand tools are designed to help card holders better manage their credit and empower them to make smart financial decisions....
DigitalMailer Offers E-Blast Service for Client Charities
Credit union e-statement pioneer DigitalMailer Inc. is now offering its electronic services in a new way: sending out free e-mail blasts for charitable and community causes on behalf of the company's client credit unions....
CUES Execu/Summit 2008 Gets "Young & Free"
Tim McAlpine, president and chief strategist, Currency Marketing, based in Chilliwack, British Columbia, Canada and Larissa Walkiw, 2008 Young & Free Spokesperson for Common Wealth Credit Union are slated to debut a session on social media and Web 2.0 at Execu/Summit 2008 held March 2--7 at the Sheraton Steamboat Resort & Conference Center in Steamboat Springs, Colorado....
Scott CU Regional Relay For Life Sponsor
Scott Credit Union recently signed on to be a regional sponsor of the American Cancer Society's Relay For Life events throughout the area....
Services Offered by Multi, Wholly-Owned CUSOs Demonstrate Large Divide
Comparisons between services offered by multi-owned CUSOs and wholly-owned CUSOs find patterns which are practically reversed....
CO-OP Financial Services Rolls Out New Account Manager For ATMs
CO-OP Financial Services has announced a new account manager for its subsidiary CO-OP Network....
iPay Technologies Calls Growing Pains A Good Feeling
To hear Kelli Schultz tell it, growing pains are nothing new at iPay Technologies....
Navy Federal Joins Credit Union IT Security Consortium
Navy Federal Credit Union has joined the Credit Union Information Security Professionals Association....
Baxter CU Latest Members Health Network Client
ALBANY, N.Y. and VERNON HILLS, Ill. -- Count Baxter Credit Union among the credit unions getting into the Health Savings Account game....
Watermark CU Wins More Workplace Honors
Paying attention to employee suggestions, encouraging their feedback, and pushing real teamwork seems to be paying big dividends for the $486 million Watermark Credit Union....
Greylock FCU Fights For Senior Discounts
Greylock Federal Credit Union has spearheaded a signature campaign to urge its lawmakers to protect its seniors....
CUNA-Led Industry Coalition Maps 'Real Deal' Outreach Branding
A new branding framework enlisting credit unions, state leagues and foundations nationwide to coordinate outreach projects, low-income initiatives and charity projects ranging from payday products to Children's Miracle Network is being launched this week at CUNA's GAC conference....
MEMBERS Capital Managed Funds Hit $500 Million Mark
Assets under management in the MEMBERS Capital Advisors- managed MEMBERS Mutual Funds and Ultra Series Funds Target Allocation and USF Target Date Funds have grown to exceed $500 million despite a slide in the stock market since October 2007....
NCUA Outreach Task Force Recommends Continued Data Collection
NCUA Board Member Gigi Hyland, who chaired NCUA's Outreach Task Force, has announced the results of a year's compilation and analysis of comments resulting from her series of town halls and other meetings....
Bank of America Picks Up FIA CU Card Portfolio: How Much Did Troubled Financials Drive Biggest Sale In an Overall Down Year?
The $1.19 billion Credit Union of Texas sold its credit card portfolio to FIA Card Services, the card issuing subsidiary of Bank of America, making it the biggest sale in what has otherwise been a down year of card portfolio sales....
State Regulators to Discuss NCUA Task Force Results
NASCUS will meet with the NCUA Board members during CUNA's Governmental Affairs Conference this week and in April at the annual NASCUS/NCUA National Regulators Meeting....
Beehive To Call It Quits as a CU, But Members Suggest Fat Lady Has Yet To Sing
A majority of members of the $187 Beehive Credit Union who voted in its charter-change balloting voted to leave their credit union charter and become a mutual bank, the credit union has reported on its Web site (www.beehivecredit.com)....
NCUA Doubted Centrix PMP Program Before Risk Alert; Voting on Centrix Bankruptcy Plan Ongoing
Presidential primary votes aren't the only ones being registered nowadays. Creditors of Centrix Financial LLC, the subprime automobile lender have also been busy voting on its plan to exit Chapter 11 bankruptcy....
Departments
Legislation/Politics
CURIA, Now at 143 Co-Sponsors, Gets a Hearing
The Credit Union Regulatory Improvements Act (H.R. 1537) is at its highest level of co-sponsorship in its three-congressional session history and is finally getting a full committee hearing. ...
CUDL Completes SAS 70 Certification
CUDL has again passed the scrutiny of a SAS 70 Type II audit for its CUDL and CUDL DApp systems....
Digital Insight Experiences Service Failure
A power outage on Thursday led to a series of systems failures and a three-hour outage at Digital Insight's primary data center, which provides online banking services to thousands of credit union and banks....
IMM, XP Systems Integrate Teller Item Capture
Integrated Media Management and XP Systems are integrating a Check 21 solution and a core processing platform. ...
Six CUs Tab PM Systems For Mobile Banking
PM Systems Corp. said it has signed six more users of its WebFederal 3 mobile banking solution....
Sixth Small CU Joins Northern California Tech Consortium
Silverado Credit Union has become the sixth member of a consortium of small Northern California credit unions who banded together to jointly afford online banking and lending tools....
Online Satisfaction Specialist to Assess AA Credit Union
A customer satisfaction specialist has been hired by American Airlines Federal Credit Union to assess how the big CU can improve member satisfaction with its Web site at www.aacreditunion.org....
CMC FLEX Reaches 30th Anniversary
Credit union core processor Computer Marketing Corp. has completed its third decade in the business....
Younger Set Dominates on Mobile Channel, But Not Exclusively
The mobile channel may be the channel to channel for credit union marketers who want to reach the younger set, according to Forrester Research....
Forrester Probes Reasons for Sluggish Alert Adoption
Forrester Research said consumer adoption of account-based alerts has increased in the three years the think firm has been tracking the issue, but still only 24% of online consumers get any kind of alert from their financial provider, and almost all of those are by e-mail....
Travis CU Sponsors Cal Grant Presentation
Travis Credit Union has recently sponsored the 2008 Cal Grant presentation for Solano and Napa County High Schools....
MShift Adds 13 CUs to Client List
Thirteen more credit unions have recently deployed mobile banking software from MShift Inc., including seven members of the billion-dollar club....
Special Report
Welcome to D.C.
With all the GAC has to offer, one of the best opportunities it provides is the chance to explore the nation's capital. ...
Who Is Your Credit Union's Biggest Competitor?
With talk of ever-increasing competition in the financial services marketplace, Credit Union Times' reporting staff scoured the field asking credit unions what institutions they saw as their biggest competitors....
All For-Profit Financials Are SECU Competitors
"I would say that our biggest competitor is the whole panoply, the whole arcade of for-profit financial institutions," said Jim Blaine, CEO of the $15 billion State Employees' Credit Union, the second largest credit union in the country and headquartered in the same state as Bank of America. ...
North Side FCU Competes Head-to-Head with Fringe Financial Services
Ed Jacob, CEO of the $7 million North Side Federal Credit Union said "mid-tier" financial service providers around the credit union, the payday lenders, check cashers, rent-to-own outfits, and other similar services are his credit union's competition....
Convenience a Competitive Factor
Lindsay Alexander, CEO of the $358 million National Institutes of Health Federal Credit Union, said her CU's chief competition was not restricted to any one financial institution but belonged instead to the whole world of competitors who seemed to offer NIH members more convenient access to products and services....
Want Fries With That?
Carl Sorgatz, president/CEO of Hawthorne Credit Union, Naperville, Ill. and chairman of the Illinois Credit Union League, said the nature of credit union competition can change "as frequently as fast foods" so CUs need to be nimble to adapt....
Seattle Metropolitan CU Sees Competition Everywhere
Robert Harvey, president/CEO of Seattle Metropolitan Credit Union, said when you talk about competition, "you're not talking about an individual institution because this is an issue that spans deposits, members, or loans." ...
Single Sponsorship Doesn't Dampen Competitive Spirit
Sometimes the problem of CU competition is complicated by single sponsor status. Take the $20.3 million Basha's Associates Credit Union in Tempe, Ariz....
Financial Literacy Still A Wescom Focus
While Wescom has been trailblazing with its effort to help Pacoima Development Federal Credit Union and its check casher acquisition, the CU has not neglected more traditional efforts to help underserved communities through financial education....
Sweet Tooth Helps Members 1st Aid CUs' Congressional Allies
What do chocolate bars and NAFCU/PAC teddy bears have in common? For starters, the sweets and beanie bears are helping Members 1st Federal Credit Union to raise thousands of dollars each year for the Pennsylvania Credit Union Association Political Action Committee and for NAFCU/PAC, respectively....
Marketer of the Year Says Never Do Anything Halfway, Looks to Score Points With Gen Yers In an "Uncrowded" Market
For Fairfax County Federal Credit Union Chief Marketing Officer Matthew Kaudy, it's either all in or nothing. ...
From the Hardwood to Software, iQ CU's Morrell Stays in the Middle Of the Action
Whether it's assessing the latest technology trend in credit union land or keeping up with the action at a Division 1 college basketball game, Jim Morrell knows which way the ball is bouncing....
Volunteer of the Year Still Believes in Power of Member Voice, 'People Helping People' Philosophy
Continental Federal Credit Union Director and Former Board Chairman Allan Cooper is not one to back away from a fight to preserve consumer choice and the cooperative nature upon which credit unions wer founded....
Continental FCU CEO Tom Glatt Humbled, Convinced 'CEO of the Year' Is a Team Achievement
What attributes would one use to describe Tom Glatt, the stalwart president/CEO of Continental Federal Credit Union--a man who never wavered during the nearly two-month, unwanted Wings Financial FCU merger campaign attempt last spring?...
Columns
Letters to the editor
No Banks Allowed
In almost every issue of Credit Union Times as far back as I can remember there is mention of some dastardly deed perpetrated against the CU industry by those loathsome bankers. All the while, our trade associations have spent millions of credit union dues dollars fighting back. And, the CU industry, lead by corporate credit unions, maintains $100 billion-plus in deposits/ investments with ABA dues-paying banks....
Commercial Real Estate -- A Second Bubble (Quietly) Pops
The signs are mounting that commercial mortgage-backed securities will be the "subprime story" of 2008. A startling report from Goldman Sachs has raised concerns that the losses caused by non-performing commercial mortgages will rival the losses related to subprime residential mortgages. According to Goldman Sachs, the bad commercial real estate loans may generate $183 billion in losses, compared with their estimate of $211 billion in damage caused by subprime mortgages....
Meeting the Regulatory Challenges
While protecting safety and soundness of credit unions and looking out for consumer interests, undue burdens should not be heaped on credit unions, choking out effective service to members, or bogging down the efficiency of the operations....
Credit Cards: A Credit Union Success Story
I was pleased to see the recent reports that fewer credit unions are selling their card portfolios and credit union card programs are out-competing other financial institutions (Credit Union Times, Jan. 16, 2008). It's a great success story for credit unions, and as a former credit union executive it's a story that I can relate to. It is useful to reflect on how credit unions proved that naysayers of credit unions and card-programs were wrong....
Technology Is in Your Future
The future for credit unions is electrifying--literally. Implementing the best that modern technology has to offer is the way to go, in terms of cost savings as well as service. Attracting the up-and-coming generation of 'grown-ups' (a.k.a. borrowers) is crucial to the survival of the credit union community, and one way of doing that is offering them services anytime they want them....
Quotes Worth Quoting
"When I first joined St. Mary's 15 yrs ago I had the opportunity to see the DesJardins Group home while attending a national credit union roundtable in Quebec and when I got back I asked the board why can't we do something similar and have a credit union museum at our first site?...
On-Site Conference Coverage
CEOs Share Strategies That Build Leaders
Four prominent Southern California CEOs shared how they develop leaders for the industry, as well as their own organizations, at the HRD Network's Annual Conference on February 21....
Credit Unions Obliged to Educate and Engage Employees in Advocacy Efforts, Cheney Says
Advocacy is the responsibility of every credit union employee, just as an organization's sales effort requires a total buy-in, said California Credit Union League President/CEO Bill Cheney at February 21 at the HRD Network's Annual Convention....
Labor Attorney Wenzel Shares 2008 Tips and Trends
Labor attorney Robert Wenzel shared a list of 2008 tips and trends for human resources professionals attending the HRD Network's Annual Conference. Wenzel is a partner in the Cerritos, Calif. Office of Atkinson, Andelson, Loya, Ruud & Romo, and specializes in management defense for personnel and labor relations matters....
California League Will Lobby For Extension on New Conforming Limit
California Credit Union League CEO Bill Cheney told HRD Network conference-goers that he and his legislative group plan to work with Representative Brad Sherman (D-CA), longtime credit union supporter, to extend the temporary increase in federal conforming loan maximums....
On-Site Coverage: Florida Credit Union Real Estate Network Coping Well in "Crisis"
The 34 credit unions that belong to the Florida Credit Union Real Estate Network are committed to surviving--even thriving--during the current "crisis" in real estate lending. Those credit unions sent more than 50 representatives to the regional CUREN meeting March 21st and 22nd to listen to speakers and learn from each other about topics like how to handle rising delinquencies and foreclosures. The meeting was held at Insight Financial Credit Union here. ...
People
People
East, South, Midwest, West, Vendor, East, South, Midwest, West...
Fly Fishing Passion Leads to Zeal for Stream, Land Preservation Efforts
It probably seemed like a good way for the newly wed Claude Kazanski to connect with his new father-in-law 30 years ago. Since the day the two went fly fishing together, Kazanski, associate general counsel at CUNA Mutual Group, has been hooked--no pun intended....
Keller's Book Details Iraq Experience From Female Soldier's Perspective
Any working mother will tell you that Melia Meichelbock Keller should be tired, and at least little grouchy. After all, she's seven months pregnant and still puts in full-time hours as the California Credit Union League's marketing and communications manager. ...
Mount Kilimanjaro Adventure a CU Mission of Goodwill
How far are you willing to go to make a difference in someone's life?...
In British Columbia, What Housing Slump, Recession?
While U.S. credit unions keep a wary eye on the economy and fret about slumping housing markets, the folks at Coast Capital Savings Credit Union enjoy a more positive frame of mind....
Pen Air FCU Mourns Loss of Former Board Chair A.C. Martin
Pen Air Federal Credit Union is mourning the loss of its former board chairman Arthur Carroll "A.C." Martin....
Other
From the Board Room
Bellwether Community CU Honors Director for 43 Years of Service
Bellwether Community Credit Union has honored Paul C. Wenger for his 43 years of volunteer service to the credit union by naming its annual volunteer award the Paul C. Wenger Volunteer of the Year award....
Redstone FCU Elects Board Members
Clyde Bean, Pamela Philyaw, and Nancy Walker have each been elected to serve a three-year term on the Redstone Federal Credit Union board of directors....
Maine Family FCU Elects Board
Marthe Bissonnette and Anita Blanchette, both of Lewiston, were re-elected to three-year terms on the Maine Family Federal Credit Union board of directors....
First Chairwoman of Tri-County Regional Planning Commission from Members 1st FCU
Members 1st Federal Credit Union Board Vice Chair Jackie Eakin has made local history....
In Other News
Donations, Awards, Milestones, Scholarships, Branching Out...
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