Credit Union Times Magazine July 20, 2011

Front Page News

  • Consumer Bureau Ready to Start Up

    When the new Consumer Financial Protection Bureau begins operations on July 21 it will be a headless wonder, albeit one with lots of clout. At press time, President Obama hadn’t named a permanent director for the CFPB. However, that won’t prevent the bureau from issuing regulations and examining certain large...

  • Hearing Clash on New CFPB Powers

    House Republicans used a July 14 hearing to accuse those setting up the new Consumer Financial Protection Bureau of not disclosing enough information and for not spelling out what financial products it plans to target for increased scrutiny.

  • Board Governance Focus of New Survey

    Late last year the NCUA published its regulation on expectations for credit union directors. The agency focused specifically on financial literacy and how it will be measured. As the July 27 deadline for compliance looms, Credit Union Leadership Forum conducted a survey of credit union executives and board members as...

  • Interchange Rule Draws Flak

    The Federal Reserve's most recent update of its rule implementing the Durbin amendment makes it a bit better for most CUs but leaves most of their deep concerns about the measure untouched.

  • Marketing ‘Ditch Your Bank’ Spreads Anew

    It looks to be another big year for the “dump your bank” marketing campaigns that were fired up by credit unions in 2010 as media coverage mounted on the woes of big banks.

News

Editor-in-Chief's Column

News Briefs

  • Quicken Calls CU Partnering a Win

    After roughly a year in partnering with financial institutions to offer mortgages, Quicken Loans reports that a significant number of CUs have opted to use its mortgage platform for their mortgage lending needs.

  • Business Lending Pilot at St. Mary’s Bank

    Through a new program, St. Mary’s Bank is looking to offer mini loans to start ups and small emerging companies that it said are finding it difficult to obtain more traditional bank financing.

  • Chicago CUs Host Ecuadoreans

    Chicago area credit unions recently welcomed a group of about a dozen individuals from OSCUS in Ecuador as part of the World Council of Credit Unions’ international customized training program.

  • Merger Final After Two-Year Wait

    There is little doubt that the planned merger of a smaller and neighboring Pennsylvania CU advanced by the $65 million SPE Federal Credit Union of State College became complicated by charter issues, but this is one that took two years to complete.

  • Minn. League Meets International Delegation

    The Minnesota Credit Union Network recently welcomed participants of the International Visitor Leadership Program to its St. Paul office.

  • TTCU Gets New CEO

    TTCU has found its new president/CEO in Chief Financial Officer Tim Lyons. Lyons succeeds Leslie W. Rector, who will retire Sept. 30.

  • Catholic FCU’s Watson Takes the Helm

    Remove the “acting” as Alan Watson has officially been named president/CEO of Catholic Federal Credit Union.

  • Using the Internet to Book Mortgages

    The 32,500 member Sooper Credit Union, headquartered in Arvada, Colo., has found a technique for helping market its mortgage products. The $242 million credit union is a client of CU Members Mortgage CUSO.

  • Altepeter to Be Numerica CEO

    Carla Altepeter, longtime CitizensFirst Credit Union president/CEO, is making a move to Spokane, Wash.

  • Banks and CUs in Tight Lending Race

    With the exception of auto loans, credit unions and banks are competing closely in nearly all loans.

  • Western CUNA Management School Promotes Steinberger

    The Western CUNA Management School has promoted Michael Steinberger to the position of dean after serving for five years as associate dean.

  • MShift Patent Appeal Dismissed

    A federal appeals court has declined to overrule the dismissal of a patent infringement suit filed last year by mobile banking vendor MShift against Intuit Financial Services and several banks and credit unions.

  • Intuit Financial Services Buys Mobile Money Ventures

    Mobile Money Ventures has sold its Web banking technology to Intuit Financial Services, which already uses the platform at more than 320 credit unions and banks, the companies said.

Q&A

  • WOCCU CEO Reflects on Long Industry Tenure

    World Council of Credit Unions President/CEO Pete Crear sat down with Credit Union Times Editor-in-Chief Sarah Snell Cooke just prior to flying off for his association’s last annual conference before his retirement. While Crear was shy about naming a date for his departure, he did share his thoughts with us...

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