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September 16, 2009
News
Bank Group’s Slap at CUs Will Be Part of House Panel’s CRA Hearing
Efforts to include credit unions in the Community Reinvestment Act will be back in focus this week at a House hearing. ...
Texans CU CUSO Files Chapter 11
Texans CUSO Insurance Group filed for Chapter 11 bankruptcy on Sept. 5, citing a soft insurance market and ongoing litigation expenses among its reasons....
Long-Term Embezzlements Can Cripple Small Credit Unions
Recently revealed court documents from credit union embezzlement cases have raised questions about how the NCUA could better monitor small federally chartered credit unions for fraud....
SE Financial Sues CUNA Mutual
The $418 million Southeast Financial Credit Union has filed a suit against the CUNA Mutual Insurance Society, CUNA Brokerage Services Inc. ...
Lenders Track Student Borrowers’ Prospects
According to the National Center for Education Statistics, while the access students have to college has increased over the last three dates, the rates of completion have not changed. For students that start at a four-year college or university, ...
Premier Members Credit Union of Colorado Heads Into Wal-Mart as It Finalizes Merger
It’s been less than a year since Rhett Rowe, a former bank president, took over as CEO of the $318 million Premier Members Federal Credit Union of Boulder, Colo. And he’s got his sights on expansion....
Corporate Task Force Suggests Using CUSOs for Long-Term Investments to Reduce Risks
While all corporate credit unions can offer investment services, it was important to distinguish that the industry should have an alternative such as CUSOs if credit unions want to offer investments with durations of 12 months or longer....
Matz Focusing on Risk, Regulatory Burdens and Consumer Protection
ALEXANDRIA, Va. — From the new rules for corporate credit unions to the impact of the recession on natural person credit unions, NCUA Chairman Debbie Matz faces an array of issues during her first few months at the agency....
SECU Involved in Anti-Foreclosure Effort
The $18 billion State Employees Credit Union, Raleigh, N.C., is partnering with a nonprofit, government regulator and statewide broadcaster to help save more North Carolina homes from foreclosure....
CUES, Aite Report Finds Opportunity For New CU Products and Services
A recent CUES and Aite Group report takes a closer look at how credit unions need to evolve to ensure future growth....
Three More Credit Unions Start Shared Branching With FSCC
The Financial Service Centers Cooperative, one of two nationwide shared branching networks serving credit unions,...
Layers of Referral Program Regs Protect CUs, Members and Staffs
To see who could drum up the most referrals for investment services, a couple years ago, a credit union leased a very expensive,...
CU Opens in Microsoft Mall
Banking just got a little more convenient for Microsoft staffers....
Data-Loss Prevention Tool Live at CACU
CommunityAmerica Credit Union is now using a new data-loss prevention solution to help protect against internal and external threats....
CUNA Mutual Will Change Its Corporate Bond Program
As the impact of the current economy has taken its toll on corporate credit unions, CUNA Mutual has had to adapt its bond program accordingly....
Kinecta FCU Hugs Trees
Kinecta Federal Credit Union going green is more than just a statement....
Furloughs Gain as Means to Control Costs, Hay Study Finds
Furloughs are becoming increasingly viewed as a viable option for controlling labor costs while retaining talent, ...
Business Banking at Md. CU
Money One Federal Credit Union is among the latest to launch a suite of business banking services....
Dodd to Stay on Banking
Credit unions kept their go-to guy in the Senate last week when Banking Committee Chairman Christopher Dodd announced he would stay in that position....
Ad Blitz in D.C Area
Co-op advertising in metro District of Columbia with an emphasis on safety and awareness is getting a big boost from credit unions this fall with a $180,000 radio, bus and Web campaign that will be launched this week....
Miss. CU Deploys Tech to ID Members in Need
Data mining tools in First Neshoba Federal Credit Union’s new core processing system has helped it quickly identify members in need, the Mississippi credit union said....
Departments
Tech Bytes
MortgageClick Finds Niche in Powering Process for Smaller CUs
Serving as the point-of-sale middleware between credit unions and their members and the software automating the classically hands-on mortgage lending process has proven to be a sweet spot for MortgageClick....
Columns
Editor-in-Chief's Column
Thin Veil Covers NCRC Motives and Supporters
The National Community Reinvestment Coalition needs to learn who its real friends are. If this group was anything more than a mouthpiece for the bankers,...
Consider It Calm Before the Storm
Even though recently released statistics (CU Times, Aug. 26) note that credit card programs are performing well and only three credit unions sold their portfolios in the second quarter of 2009,...
Payday Loans Are Priced for Risk
I must respond to the letter from Bill Brooks in the Aug. 26 issue regarding CU payday loans. I believe Bill,...
Searching for Easy Ways to Improve Your Online Advertising ROI
If you’ve ever been tasked with determining where to allocate your online marketing budget to get the best return on investment but couldn’t decide between the many options available to you,...
PUBLISHER’S NOTEBOOK
It has been a few months since I last provided a blatant pat on the back to the staff of Credit Union Times....
Focus Report
EasCorp Sees Robust DeposZip Growth
The $1.1 billion Eastern Corporate Federal Credit Union announced its proprietary DeposZip program has nearly doubled its book of business since the beginning of 2009, increasing to 50,000 registered users....
Mid-Atlantic Helps Members Avoid Grinch
Mid-Atlantic Corporate Federal Credit Union will present an Oct. 22 conference call that offers strategies to keep members current during the holiday season....
Southwest Corporate Says Imaging Suite Launch Was a Big Success
Six weeks since launching Image Deposit Returns, the $8 billion Southwest Corporate Federal Credit Union reports it has signed up 61 takers and more than 200 credit unions have inquired about the product....
Corporates Prepping for New IAT Regs
As of Sept. 18, credit unions must comply with new international ACH transaction regulations that require every originator and recipient to properly code the transaction, and check addenda records against the Office of Foreign Assets Control....
People
PEOPLE
People’s Credit Union, Middletown, R.I., announced the addition of three new mortgage originators to its staff....
Other
COMMUNITY EVENTS
Shell Federal Credit Union, Deer Park, Texas, partnered with the San Jacinto YMCA to collect school supplies to benefit children in need from the Deer Park,...
DONATIONS
Ent Federal Credit Union, Colorado Springs, Colo., awarded its 2009 Youth Endowment Series grants to 17 local nonprofit organizations....
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