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In the Spirit of Cooperation, CUs Draft Trademark Marketing Pact
Two credit unions, one in Portland, Ore., and the other in Charlotte, N.C., disclosed last week that they stumbled upon a new vehicle for handling infringement clashes on market brands by developing a new “lease agreement” between noncompeting CUs....

Trades Are Playing Defense in Hopes Of Preventing Legislative Damage
In the aftermath of the NCAA basketball tournament and the opening of the baseball season, there is much talk about defense these days....

Florida State Regulator Slaps Eastern Financial With Cease and Desist Order
Plagued with a litany of loan losses and unstable operations, Eastern Financial Florida Credit Union has received a cease and desist order from the Florida Office of Financial Regulation for a series of “unsound and unsafe” practices....

Illiquid Securities, U.S. Central Cause a Delay in Audited Financials
The conservatorships of U.S. Central and WesCorp are the talk of the industry, but for the $2 billion Central Corporate Credit Union, 2009 is the year CenCorp’s annual meeting lacked audited year-end financials....

Under Intense Industry Pressure, NCUA Backed Off Earnings Retention in 2003
In 2002, when the NCUA was considering a series of regulations of the corporate credit unions–including a 2% earnings retention requirement–the agency received a comment letter from the Association of Corporate Credit Unions....

It’s Small vs. Large CUs in NCUA Corporate Restructuring Comments
The approximately 250 comments posted on the NCUA’s Web site as of press time regarding a corporate credit union restructuring represent viewpoints so varied they’re difficult to group into a majority....

Summer Pay Moves to MCT FCU
Montgomery County (Maryland) Public schools recently moved its summer pay program, which allows employees to set money aside throughout the school year for summer expenses,...

West Coast Credit Unions Are Still Modifying Loans, Despite Losses
Despite the financial and economic pressures facing West Coast credit unions, including losses associated with the conservatorship of Western Corporate Federal Credit Union, ...

Rise in Ponzi Scam Exposures Presents Credit Unions With Opportunities
It’s hard to say if Bernard Madoff’s $65 billion Ponzi scheme has led to more exposure of smaller-scale frauds, but it seems the Securities and Exchange Commission is staying busy these days weeding out scammers....

Missouri League Just Says ‘No’ to Bailouts for Credit Unions
When it comes to a government bailout for credit unions, the talk among Missouri credit unions is: don’t go there....

In a Sign of Tough Times: Three Credit Unions Announce Staff Cuts
Showing that credit unions are not exempt from the impact of a struggling economy, three credit unions recently announced staff cuts....

Police CUs Remember Fallen Officers After Pittsburgh Tragedy
The tragic shootings of three Pittsburgh policemen April 4 galvanized police credit unions last week,...

Industry Icon Ed Gallagly, Former floridacentral CEO, Passes
The credit union industry is mourning the loss of Ed Gallagly, a passionate leader and former CEO of floridacentral Credit Union for 44 years....

Research Finds Opportunity and Challenge in Satisfaction Scores
A consumer research firm found that not only do credit unions outperform commercial banks in customer satisfaction by a wide margin,...

Autoland, CUDL Debate Effect of Calif. Sales Tax Increase on Auto Lending
In a bad economy, Autoland has seen some bright light the past couple of months as California residents scrambled to beat an impending sales tax increase....

American Debt Relief Challenge Quantifies the Credit Union Difference
“The American Debt Relief Challenge” is seeking to do what the NCUA pushed so hard for a couple years ago: provide quantifiable evidence of the credit union difference....

NCUA Issues Questionnaire on Remote-Deposit Capture
Credit unions that offer remote-deposit capture can make use of the NCUA’s new questionnaire to evaluate risks and control practices....

Confession Set Aside
The confession of a man in the robbery of a Pennsylvania credit union was thrown out by the U.S. Supreme Court last week because authorities waited too long to bring him to court....

N.C. CUSO Expands
Allegacy Services LLC has grown its insurance division with the purchase of Estate and Business Insurance Services LLC, an insurance agency located in Winston-Salem, N.C....

CUs Continue Quest to Be Included in TARP and Toxic Asset Program
NCUA, CUNA and NAFCU are still working with officials of the Treasury to find a way for credit unions to participate in programs aimed at helping financial institutions deal with troubled assets....

CUES Names 2009 Winners
Credit Union Executives Society has announced the 2009 Golden Mirror Awards winners....

Maloney Optimistic About Economy and Praises Work of Credit Unions
WASHINGTON — Rep. Carolyn Maloney (D-N.Y.) has been a key player on many issues relating to financial services and economic policy....

Vermont Credit Unions Begin Airing iBelong TV Awareness Ads
Vermont credit unions are now pushing iBelong branding in a co-op TV awareness campaign that began this week....

WOCCU Welcomes Two Groups
The World Council of Credit Unions welcomed the credit union associations of Azerbaijan and Uzbekistan....

CUNA Is Sponsoring Webinars on How CUs Can Help Struggling Members
Credit unions can learn tips on how to help members manage finances in this economy through Webinars being held by CUNA....

California Government Relations Rally Will Focus on Mortgage Bills
California’s real estate problems have resulted in a flood of mortgage-related bills that are well intentioned but ultimately bad for credit unions, said Bob Arnould,...

Hood, Staff Head to NACUSO
With the message of encouraging credit unions to seize market share, NCUA Vice Chairman Rodney Hood will be one of the keynote speakers at NACUSO’s annual conference in May....

Age, Job Tenure and Account Balances Reveal How Downturn Impacts 401(k)s
It doesn’t come as too much of a surprise that 401(k) accounts are being hammered by the economic downturn....

NewGround Expands Team
International design and implementation firm NewGround announced an expansion of its IT/mission critical resources....

CU*Answers Offers Online CD Contest
CU*Answers announced its newest promotion for its CU*Drive Campaign, a certificate of deposit online promotion through its Me 247 Online Banking system....

Web Services Firm Hits 10,000 Mark in Auto Updates
The automated request tracking system at WESCO Net Web Services has just recorded its 10,000th Web site update request, the company said....

Poll Finds Online Insecurity
Online banking led online card use among a survey of Internet users in eight countries around the world that aimed to find out how secure people felt using the Internet....

CFO Frank Vassallo Joins CUEG
Bank-Fund Staff FCU Chief Financial Officer Frank Vassallo has joined the Credit Union Economics Group....

SECU Assistance Program Helps Keep Members in Their Homes
State Employees’ Credit Union is helping its members stay in their homes through its new mortgage assistance program....

Enterprise Car Sales Donates to NCUF Enterprise Car Sales made a $50,050 donation to the National Credit Union Foundation. A portion of the donation is earmarked for the REAL Solutions program. The program is a nationwide program dedicated to helping cre
Enterprise Car Sales made a $50,050 donation to the National Credit Union Foundation....

DEFENSE: CU Trades Going Toe to Toe With Pro-Consumer Congress
In the aftermath of the NCAA basketball tournament and the opening of the baseball season, there is much talk about defense these days....

WesCorp Board Cedes to Conservatorship
Western Corporate Federal Credit Union’s dismissed board members officially conceded to the NCUA April 6, releasing a statement saying the group unanimously voted...

List of 15 Questionable Practices Documented
The Florida Office of Financial Regulation discovered 15 practices at Eastern Financial Florida Credit Union that either needed immediate attention or complete overhauls....

Karen Gordon Mills Rolls Up Her Sleeves as New SBA Administrator
With the pressing task of reversing a 50% drop in SBA loan guarantees, Karen Gordon Mills was recently confirmed as the 23rd administrator of the Small Business Administration....

Central States Receiver Named; Suit Against Former CEO Is Dropped
Central States Mortgage Co., the Wauwatosa, Wis. CUSO now in bankruptcy court, dropped its long-standing racketeering lawsuit last week against its former CEO and founder. The court moved ahead with naming a receiver for the firm,...

Piedmont Credit Union Deploys New Software
Piedmont Credit Union is now using keystroke encryption software to enhance its own internal data security and is offering the same solution to its members....

Departments

Data Processing/Tech
Some CUs Say: Ain’t Nothin’ Gonna Break My Stride
While many in the financial services industry are jogging on a treadmill during these trying economic times, some credit unions are winning the road race....

Digital FCU Uses ‘Dynamic Account Modeling’ in Battle With Fraudsters
In a sense, protecting members from themselves is as important to Digital Federal Credit Union’s IT security strategy as protecting its own network from attack....

Bank-Fund Staff FCU Opts for Open Solutions Platform
Bank-Fund Staff Federal Credit Union will be converting its core processing to a new platform from Open Solutions Inc., the credit union and company said....

COCC Offers MarkMonitor Anti-Phishing
COCC will now be offering its community bank and credit union clients the anti-phishing services of MarkMonitor....

Technology CU Uses DataTrac Software to Help Handle Mortgage App Surge
Some sophisticated middleware is helping one big Silicon Valley credit union handle a surge in mortgage business driven by falling mortgage rates and a flight to the perceived safety of credit unions....

Three Rivers FCU Software Has Managers Wary of ‘Red Ball of Shame’
One thing Tiffany Yoquelet really likes about the project and strategy management software at Three Rivers Federal Credit Union is how it helps accomplish that most sensitive of missions–managing up....

Columns

Editor-in-Chief's Column
Hope Springs Eternal at Many CUs
I’m not much of a gardener, but I do enjoy–masochistic as it may seem–weeding, mulching, digging, raking and planting. ...

DONATIONS
First Capital Federal Credit Union, York, Pa., staff and members brought donations of nonperishable food to WROZ-FM’s broadcast location from the parking lot of the cred...

Fair Value Accounting Is Not Root of All Evil
I would like to help balance the debate on market-to-market accounting–it really depends on whether or not you are buying or selling....

Credit Unions Must Put Strategy Behind Their Strategic Planning
The trouble with our times is that the future is not what it used to be. Too many credit unions are living on borrowed time as well as outdated business models....

Marketing, Technology and Staking Your Claim in a Down Economy
In the early months of the financial meltdown, credit unions were being hailed as the silver lining around the dark financial cloud....

The Numbers Don’t Lie
We live in a world of numbers. As finance executives we rely on percentage points, ROA and marketing ROI analysis and valuation of assets....

Focus Report

Bank Card Delinquencies Rise
Card-issuing banks saw their card delinquencies rise in the forth quarter of 2008, but not as much many thought they would, according to the American Bankers Association’s Consumer Credit Delinquency Bulletin....

Chase Backs Down in Fee Fight
Chase Bank, the card issuing arm of J.P. Morgan Chase & Co., has retracted a $10 per month fee it placed on more than 180,000 card accounts....

Allpoint Network Picks Up CU
The $160 million Cardinal Community Credit Union has selected Allpoint Network to continue and expand their commitment to surcharge-free ATM access....

Is Your ATM Strategy Truly Serving Your Needs?
Now more than ever, having a focused ATM strategy is critical. For example, consider the geographical challenge....

The Three Keys to Making Your Card Program Successful
Many credit unions today are taking a fresh look at the opportunity in their credit card programs to increase revenue and build relationships....

Economic Shock and Awe or Opportunity?
As the press bombards us daily with continuous bad news regarding the economy, the shock and awe of the headlines may cause uncertainty as to what we should do with our credit card program....

Credit Card Portfolio Sales: From Heyday to Mayday
Credit card portfolio sales by credit unions have virtually ceased in the past 12 months. From 2003 to 2006,...

Cash Delivery Venues Expand
As credit unions have pursued better member service, more steadily opt to network their member’s access to their other products and services....

Visa Europe Hit on Interchange
In what could be seen as a harbinger of events in the U.S., Visa Europe has been charged with anticompetitive behavior by European Union regulators after the card brand declined to cut its interchange fees as deeply in Europe as rival MasterCard has....

Card Industry Security Standards Draw Heat From Congress
Federal lawmakers reviewing the card industry’s data security standards suggested that if the industry cannot police its own fraud risks,...

Hacker Sent to Prison for Card Fraud
A previously convicted computer hacker has been sentenced to five years in prison for stealing credit card information from thousands of victims to add to restaurant gift cards and then selling them on Craigslist, ...

Fifth Third Bank Sells Processing Arm
Fifth Third Bank, the switch provided for the credit union-owned Credit Union 24 ATM network, has sold 51% of its processing business to Advent International,...

NCR Highlights Software to Withstand Insider Hacking
ATM manufacturer NCR Corp. is highlighting an aspect of its machine’s software that is able to withstand an “insider” placing malware on it machines....

Mass. Bill To Cap Interchange
A state lawmaker in Massachusetts has filed a legislative measure to cap card interchange in the state, according to media reports....

Texas Dow Employees CU Makes Cards as Diverse as Its Membership
Three credit unions in Texas have demonstrated that if a CU commits to card management, it can tailor a card program to fit both the needs of its members and its...

Survey: Underbanked Approve Prepaids
Individuals with little or no relationship to a financial institution find many of their financial needs can be met using reloadable prepaid cards, according to a recent survey....

Discover Small Business Survey Suggests Conditions Improving
Small business Discover card users surveyed reported that some elements of their economic outlook are brighter....

People

Billlionaires Club
Mergers ‘Not a Bad Trend,’ Costal Federal CEO Wilson Says
RALEIGH, N.C. — As credit unions digest news of the largest merger ever–Suncoast Schools and GTE Federal–Larry Wilson isn’t terribly surprised....

PEOPLE
Energy Federal Credit Union, Rockville, Md., announced the retirement of Raymond Holt Jr. from the board of directors after 24 years of service....

Other

Raddon-CO-OP Study Finds That Share Branching Boosts CU Profitability
BASTROP, Texas — While CO-OP Financial Services urges credit union leaders to THINK creatively during its conference, it also highlighted some of the nuts and bolts information that credit unions need in these harder economic times....

THINK Speakers Offer CU Leaders a Different Way of Thinking
BASTROP, Texas — Even though they have not come from anywhere within the financial services industry, speakers at CO-OP Financial Services’ THINK ’09 conference gave participating credit union executives a lot to consider....

The Long and Winding Road: Unique Texas Location Bolsters THINKing
BASTROP, Texas — CO-OP’s THINK ’09 conference was different from many not only for its mix of speakers but also for its remote location....

CU Cherry Blossom 10-Miler Raises $1M for CMN
The Credit Union Cherry Blossom 10-Mile Run competitors were fortunate to enjoy great weather for this year’s running of the Washington, D.C., event....

SCHOLARSHIPS
Community Financial Credit Union, Springfield, Mo., recently named Emilie Bell of Ozark and Tommy Goodwin Jr. of Niangua as the recipients of this year’s Linzee W. Leonard scholarships....

COMMUNITY EVENTS
MidSouth Federal Credit Union, Macon, Ga., presented a check to Education First that was dedicated toward sponsoring the Bibb County teachers of the year banquet....

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