In an era of participatory politicking when Facebook, Twitter and other digital tools can turn any citizen into a lobbyist, have traditional trade associations entered their twilight years?
The timing of a collaboration between two of the industry’s well-known entities to fight employee dishonesty could not have come soon enough.
U.S. Representative Spencer Bachus (R-Ala.) defeated three primary challengers to hold on to his party's nomination for his seat. Bachus is chairman of the House Financial Services Committee and received support in his campaign from CUNA's Credit Union Legislative Action Council.
In its latest push to gather support for increasing the member business lending cap, NAFCU recently called on the SBA to aid in the fight.
When a credit union makes the announcement that it is planning to convert to a bank, it almost always throws the industry into a tizzy.
New regulations that aim to benefit consumers have become such a burden for credit unions that the cost of compliance may hamper growth and bring changes in the products, services and convenience consumers want the most.
The $3 billion Space Coast Credit Union recently filed suit against Merrill Lynch, Wachovia Capital, Barclays Capital, Lehman Brothers’ former CEO Richard Fuld and major U.S. credit rating agencies, Standard & Poor’s and Moody’s, alleging that the defendants caused more than $100 million in losses to Eastern Financial Florida...
A recent Experian study has found that the generation gap applies to finances and debt as well.
Thanks to last year’s Bank Transfer Day, co-op ad campaigns, conducted by state leagues, are getting a major boost this spring with spruced-up ventures under way across the South and the Midwest.
Mutual Savings Credit Union has breathed new life into its brand.
Sitting in the sessions at the Governmental Affairs Conference or during impromptu networking sessions in the halls of the Washington Convention Center, GAC attendees are all mulling over the great successes and challenges that credit unions are experiencing every day. One thing is clear: Now more than ever is a...
If David Tuyo, interim president/CEO at Pen Air Federal Credit Union, has his way, get ready for the $1.1 billion credit union to change the world.
CUNA President Bill Cheney took time last week to answer questions in advance of this week’s Governmental Affairs Conference in Washington. Below are edited excerpts of the Q&A session.
The substantive economic and market-related challenges experienced nationwide over the past several years have highlighted the need for our industry to be better equipped at the strategic and operational levels to handle unforeseen market opportunities and challenges. Supplemental capital is a tool that credit unions could find useful for various...
Gen Y members are similar to credit unions when it comes to politics. Not necessarily in their political viewpoints but in their depth of political involvement.
In the largest multistate agreement since the tobacco settlement of 1998, the Obama administration, along with 49 state attorney generals, announced a $25 billion settlement with five of the nation’s largest banks. In addition to instances of wrongful foreclosure and fraud, the government’s investigations found that banks routinely violated the...
Given the volatile nature of the recent economic crisis, it was inevitable that pressure would build on regulators to respond to the crisis with additional regulations. Certainly some of these new regulations were promulgated in response to poor practices that exposed gaps in regulation. If credit unions are feeling overwhelmed...
Welcome to the age of chaos. Adaptability and change are the new standards for everything. Uncertainty and haste are the new normal. Recent news reports say people are only willing to wait 250 milliseconds for a search on the Internet. Google and Bing offer replies in less than a second. And that’s still not fast enough for...
A group young credit union professionals have been gearing up to crash CUNA’s Governmental Affairs Conference again this year.
While the CAMEL disclosure controversy shows no signs of slowing down, maybe it’s time for reasonable heads to prevail and allow both sides to reflect upon the fallout from State Employee’s Credit Union’s action.
LAS VEGAS — The research by Boston-based AlixPartners exploded on the screen at BAI Payments Connect 2012. Suddenly, out of nowhere, the availability of good mobile services has emerged as a top factor in why consumers choose to change financial institutions, reported Teresa Epperson, AlixPartners managing director.
LAS VEGAS — Who owns the customer? The customer owns the customer, said Kausik Rajgopal, a McKinsey partner and a panelist at BAI Payments Connect 2012, the annual trade show that aims to bring together payments innovators with financial institutions.
When Kyle Markland was hired at Affinity Plus Federal Credit Union at the age of 33, he admits that the board took a chance on bringing in someone so young to lead what was then a $357 million cooperative.
Before David A. Kwant joined Mountain America Credit Union nearly 25 years ago, he was Utah’s supervisor of credit unions. So how does that experience help him as chief financial officer at the $3 billion West Jordan, Utah-based credit union?
Jeff Johnson has spent the past 15 years helping his credit union and the industry itself compete in the fast-changing world of delivery of financial services.
Limits don’t exist for Kathryn Davis, senior vice president at El Segundo, Calif.-based Xceed Financial Credit Union.
As financial institutions, many people would suppose that credit unions make lending money a key focus of their business. But sometimes, over time, they lose some of that focus and fail to adapt their lending programs to members' changing economic needs. That is a little of what Brett Jorgenson found...
One phrase, “do the right thing,” has been at the core of what drives Kristina Derkos, senior vice president of employee relations/development at Redwood Credit Union.
It’s all about the member for Board Chairman Terry Richardson, but for over 34 years, to the team at Pioneer West Virginia Federal Credit Union, he has simply been the personification of an extraordinary coach.
If there were a category of potential credit union members that could be described as beyond unbanked, those would be the people that the Durham, N.C.-based Latino Community Credit Union seeks to serve.
Whenever credit union political activists grow frustrated at their work with federal or state legislators, when the doors seem closed or telephone calls go unreturned, they could pause to reflect on the duties performed by Mahir Momand.
Ask corporate credit union senior executives what keeps them up at night and for many, it’s whether they can grow their business.
Want to grow your credit union? First step, get over the stigma and negative connotations associated with the word 'sales.'
Given the stall in lending activity for many in the industry since the recession, AltaOne Federal Credit Union was expecting to see negative signs in its auto loan portfolio at the end of 2011.
Speaking recently at the New Jersey Credit Union League’s Reality Check conference, John Lass put it bluntly on the direction of mobile banking.
Back office automation is aiding the $1.3 billion Royal Credit Union with its critical compliance activities and at the same time, executing several key growth strategies.
Given the relationship with their members, credit unions have a tremendous competitive advantage, according to a research paper from CUNA Mutual Group titled “Lending Strategies and Trends.” Their ability to effectively connect with their members has endured.
Ask Michael Bittle, CEO of the Vanderbilt University Credit Union, where his $25 million Nashville, Tenn.-based institution would be without its corporate credit union and he softly chuckles.
One of the biggest challenges we face today is how to profitably grow while providing outstanding service and value to our members.
When federal and state authorities and some of the nation’s largest banks agreed in early February to a $26 billion deal aimed at providing relief to nearly two million homeowners hit by the real estate collapse, the news grabbed headlines in major papers.
The 53 credit unions that use Member Driven Technologies in suburban Detroit for service bureau core processing are now being offered remote-deposit capture services from Bluepoint Solutions.
The $141 million Emery Federal Credit Union in Cincinnati is the first user of a hosted version of the NewSolutions core processing platform from Share One.
The 106,000 members of the $906 million FORUM Credit Union are now being offered a new version of the Indianapolis credit union’s CU Online banking system and apps for Androids and iPhones.
More than 1,300 members have downloaded remote deposit checking apps from Rivermark Community Credit Union since March 1.
Record sales of its core products in 2011 helped Wescom Resources Group take in $939 million and maintain average annual growth of 25% through its 10-year history.
There has been a lot of talk and discussion lately about one cloud and server virtualization capabilities. If you are like most people, you’re probably wondering what all the fuss is about.
In most organizations today, there is sensitive data that is overexposed and vulnerable to misuse or theft, leaving IT in an ongoing race to prevent data loss. Packet sniffers, firewalls, virus scanners and spam filters are doing a good job securing the borders, but what about insider threats?
Management has struggled with fully understanding the overall performance in the lobby due to various systems capturing fragmented information.
Accomplishments at credit unions recognized.
Michigan First has kicked off its search for the next Young & Free spokesperson.