Credit Union Management

When I was first asked to pen this column, my first thought was, why would someone from Gen Y make a conscious, informed decision to join a credit union?

In 1985, when Dick Ensweiler’s son was 12, he became interested in baseball cards and started asking his father to drive him to card shows. That was the beginning of a lifelong hobby for the curremnt president/CEO of the Texas Credit Union League.

Around Valentine’s Day three years ago, holders of auction rate securities fell completely out of love with the debt instruments, causing a market freeze and a slew of lawsuits against the banks with claims of misrepresentation. The fallout continues.

After hearing both sides, a Financial Industry Regulatory Authority panel recently denied all claims made by the estate that was seeking more than $2 million against an investment adviser that worked for a broker-dealer acquired by SECU Brokerage Services Inc.

It now looks like it could take until the third quarter for the Iowa Credit Union League, its processing affiliate and the National Cooperative Bank of Washington to finalize a plan to dissolve Iowa Corporate Central Credit Union and morph its correspondent services into the bank.

A new report said that the majority of the world’s retail banks have no plans to use social media in any way.