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2008
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September 10, 2008
News
CUES Promotes Hrubes to VP Of Marketing
MADISON, Wis. -- The Credit Union Executives Society has promoted Jessica Hrubes to vice president of marketing....
Ties That Bind: Ohio CU Nears 30 Years With Original Core Processor
NEW PHILADELPHIA, Ohio -- Bob Olmstead and Dave Andreatta have gotten to know each other over the years....
Assets, Deposits Rise In Hawaii
HONOLULU -- Hawaii's credit unions recently posted $7.6 billion in assets for the first six months of the year, a 6.4% increase over the previous six months....
Twelve CUs, CDCU Federation Among Recipients of Most Recent CDFI Grants
PORT ANGELES, Wash. -- The U.S. Treasury Department's Community Development Financial Institutions Fund's most recent round of awards included money for 12 credit unions, according to an announcement from the fund....
Fryzel Meets, Greets and Tours
ALEXANDRIA, Va. -- NCUA Chairman Michael E. Fryzel spent the end of last month welcoming representatives from NAFCU, NASCUS and American Share Insurance to the NCUA....
Vega Starts as NCUA Chief of Staff
ALEXENDRIA, Va. -- Today, Sarah Vega will start in her position as chief of staff and senior policy adviser to the NCUA Chairman Michael E. Fryzel....
Gustav Aftermath Demonstrated the Success of Disaster Planning, Say CEOs
BATON ROUGE, La. -- If nothing else, the shutdown and disruptions last week at Louisiana and Mississippi credit unions caused by Hurricane Gustav demonstrated anew that disaster preparedness can work well....
Fired Texans Insurance President Gets Job Back
RICHARDSON, Texas -- Kevin M. Curley, the president of Texans Insurance Group who was fired in April 2007 and filed suit against the CUSO and the credit union, is back on the job....
Gustav Aftermath Demonstrated the Success of Disaster Planning, Say CEOs
BATON ROUGE, La. -- If nothing else, the shutdown and disruptions last week at Louisiana and Mississippi credit unions caused by Hurricane Gustav demonstrated anew that disaster preparedness can work well....
Texans CU Quietly Sold Texans Commercial Last Year to Real Estate Investor
RICHARDSON, Texas -- The $2 billion Texans Credit Union last year sold its majority interest in Texans Commercial Capital, its once successful lending CUSO, the CU told Credit Union Times last Thursday....
Del Norte Supervisory Fights Stall as N.M. Gov. Ponders Action; Auditors File Suit
LOS ALAMOS, N.M. -- Members of a New Mexico Credit Union have turned to Gov. Bill Richardson's office for assistance in their ongoing fight with Del Norte Credit Union's board. In addition, the credit union's former auditors have sued the CU seeking payment for services rendered to the supervisory committee. Neither the board nor the credit union returned calls at press time seeking comment on the controversy....
Survey Suggests That Students Practice Poor Credit Habits
WASHINGTON -- A survey sponsored by collection industry lawyers has suggested that at least part of students heavy debt load arises from their bad credit habits....
Altura CU Is Prepared to Handle California Budget Battle Fallout
RIVERSIDE, Calif. -- While state legislators continue to squabble about the California budget, Altura Credit Union stands ready to help state workers....
HUD Submits Draft Rule for RESPA Reform
WASHINGTON -- In spite of opposition from NAFCU, CUNA and hundreds of lawmakers in the House of Representatives, the Department of Housing and Urban Development has submitted to the Office of Management and Budget a draft final rule for Real Estate Settlement Procedures Act reform....
First Corporate Credit Union Mourns Assistant VP Dinah Nadela
PHOENIX -- First Corporate Credit Union has announced that Dinah Nadela, assistant vice president of sales and service, passed away suddenly on Aug. 14 at the age of 41....
SELCO's Investment Team Grows
EUGENE, Ore. -- Brenda Fritsch, a financial consultant registered with CUSO Financial Services LP, has joined the team of investment professionals at SELCO Financial Solutions....
FAA First FCU Crisis Program Steps Out in Front of Airline Industry Woes
HAWTHORNE, Calif. -- Aiming for a proactive approach, FAA First Federal Credit Union has created its Crisis Co-Pilot program to help members affected by layoffs in the airline industry....
TIP Charter Brings Aloha Airlines FCU to Hawaii Air Transportation's Fore
HONOLULU -- With its newly granted trade, industry and profession charter, Aloha Airlines Federal Credit Union is on a mission to become the premier financial services provider to Hawaii's airline industry....
Former Banking Exec Finds Himself at Home in the Credit Union Community
NEW YORK -- Since making the switch from the banking industry to Municipal Credit Union, Kam Wong has pushed the credit union toward growth and innovation and deeper into the community....
California Regulator Hands Valley CU to NCUA; Davidson Heads Conservatorship
SAN JOSE, Calif. -- Valley Credit Union, known for its innovative on-site child care program, made headlines last week when the California Department of Financial Institutions placed the $257 million cooperative under conservatorship and handed it over to the NCUA....
California Passes Data Breach Bill Without Reimbursement Provision
SACRAMENTO, Calif. -- The California Assembly has passed a card data breach bill, but it lacks retailer reimbursement for the card issuers....
Corrections
A brief article on page 36 of the June 25 issue, Credit Union Times did not use the full name of the design/build awards won by two Florida credit unions. They are the CUES Golden Mirror Awards....
Honor Deposit Service Rakes It In at Amplify
AUSTIN, Texas -- A new honor deposit solution is taking in more than $300,000 a month at Amplify Federal Credit Union, four months after its launch....
Departments
Facilities
Inc. 500: LEVEL5 Is Top Notch
ATLANTA -- LEVEL5, a consulting and facilities development firm specializing in financial institutions, has ranked 51st on the 2008 Inc. 500....
Federal Reserve Uses Web to Provide Consumer Home Loan Refinance Guide
WASHINGTON -- The Federal Reserve Board has published an online guide aimed at consumers looking for information on refinancing their home loans....
Special Report
U.S. Central Thrives on Back-Office Expertise and Anticipating Members' Needs
LENEXA, Kan. -- To natural person credit unions, U.S. Central can be difficult to understand. For example, it's the nation's top credit union, but it only has 26 members. It's the ultimate example of combining assets for the benefit of members, but none of them show up on Fridays to cash paychecks or request credit limit increases....
Business Recovery Center Goes Underground
LENEXA, Kan. -- Given Kansas' reputation for devastating tornadoes, one would assume that no matter where U.S. Central's business recovery center is located, chances are it's in a basement....
Wright-Patt To Offer Check Scans
FAIRBORN, Ohio -- Wright-Patt Credit Union will soon be adding to its service offerings the ability for eligible members to scan checks at home and send in the electronic image through the Internet....
Southwest Corporate Hosting Free Business Member Seminar
DALLAS -- Southwest Corporate is sponsoring a free, open-enrollment seminar focused on attracting and serving business members....
Volunteer Corporate Not Suffering From Last Year's Merger Denial
NASHVILE, Tenn. -- Volunteer Corporate's Aug. 21 annual meeting was a far cry from the serious and somber affair you might expect following a failed merger with Western Corporate almost one year ago....
Cabrillo Turns to Shorts to Save Energy
SAN DIEGO -- Cabrillo Credit Union is doing its part to reduce its ecological footprint and conserve energy by turning the thermostat up and incorporating shorts into its dress code....
NAFCU Makes the Rounds
ST. PAUL, Minn. -- Party-building events and receptions tied to specific issues were among the venues that NAFCU used during the Republican National Convention to meet with lawmakers on regulatory relief and other issues....
Top Lawmakers: McCain Could Help GOP
ST. PAUL, Minn. -- It could be worse....
Former CU Volunteer, Minn. Senate Minority Leader Will Fight State Tax
ST. PAUL, Minn. -- During his 22 years as a board member of Mayo Employees Federal Credit Union, David H. Senjem developed a great appreciation for the virtues of the private sector combined with the effectiveness of the people helping people approach....
CU Partners With Social Services
ST. PAUL, Minn. -- Aimmy Vang helps former criminals find jobs and turn their lives around. Yet while helping others she is also involved in a program that is helping her get back on solid financial footing....
CUNA Gives Home to Second Injured Veteran
WOODBURY, Minn. -- Embodying the credit union motto of people helping people, for the second consecutive week CUNA presented a home to a wounded veteran....
Columns
Editor-in-Chief's Column
Credit Unions Need to Eye the Storm
Everyone in the area, including credit unions, either got out of town or battened down the hatches, preparing for what New Orleans Mayor Nagin called "the mother of all storms." Nearly 2 million people were evacuated from the area expected to feel the brunt of Gustav's fury....
Quotes Worth Quoting
"Getting more volunteers into elected leadership positions in NAFCU and other lobbying groups remains an issue since it was brought up three years ago in Las Vegas. In my view, we really haven't made that much progress, and what I've seen is mostly lip service in addressing the problem. This is an issue that is not going to go away. You notice that we used to have one NAFCU volunteer that was elected onto the board and now we have none."...
People
PEOPLE
EAST...
Innovation Suite Inspires Arizona State CU Staff Creativity
PHOENIX -- Officially it's the innovation suite, but David Doss agrees it could have been called the outside-the-box room....
Other
Voting Poll
Voting Poll Update
Losses and Deposit Insurance Fund...
BRANCHING OUT
Capital Communications, Albany, N.Y., held a ribbon-cutting ceremony for its newest branch in Cohoes. Assemblyman Ronald Canestrari, Barbara Hildreth, chair of the Business Council of Cohoes of the Albany-Colonie Regional Chamber of Commerce and Cohoes Mayor John T. McDonald III attended the ceremony. The ceremony included a special check presentation to the winners of the Capital Communications Cares Foundation's BIG Benefit Raffle. Beatrice Bohm of Kings Park, N.Y., won the $10,000 grand prize. Carrie Shumate and Kristin Stanolind of Midland, Texas, won the $5,000 prize. Five $1,000 winners were Ed DerGurhian of Troy, N.Y., Robert Meier of Standisfield, Mass., Steve Nissen of Niskayuna, N.Y., Nic Marini of...
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