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Business Strategies Drive Technology at Today's Successful CUs

Staff Writer | January 25, 2005

During the late 1980s and 1990s, much of business strategy, especially for credit unions, was driven by the rapid development of technology. The speed with which technology was changing the way we do business was fueled by the advent of the Internet. During the 1990s credit unions began creating Web...

WellSpan FCU, First Capital FCU Merge

Staff Writer | January 25, 2005

YORK, Pa. - Effective February 1, 2005, WellSpan Federal Credit Union and First Capital Federal Credit Union will merge. "We are pleased to welcome WellSpan FCU members to our family, and look forward to bringing them the high-quality service all our members currently enjoy," said First Capital FCU President/CEO Dennis...

Bill would only affect 14 credit unions, but could be viewed as precedent setting for other states.

Staff Writer | January 25, 2005

PORTLAND, Me. - Will 2005 be a repeat of the 1994 credit union tax battle in Maine? The Maine Credit Union League is hoping it won't be necessary to pull out all the stops like it did 11 years ago to defeat a credit union tax measure recently initiated by...

HomeCU Adds Three Check Image Vendors to List, Now Integrates with 21

Staff Writer | January 25, 2005

BOISE, Idaho - Database Management Services (DMS) has integrated its HomeCU Internet banking service with three new check image vendors, bringing to 21 the number on its list of check imagers. The new additions are the Federal Reserve's FedImage, Volunteer Corporate CU and Palmetto Cooperative Services. "In the past year,...

Profits Up 41% at B of A

Staff Writer | January 25, 2005

NEW YORK - Bank of America experienced a 41% increase in fourth-quarter 2004 profits, according to a report from Reuters. Consumer banking fees and the purchase of FleetBoston Financial Corp. at $48 billion last April aided the significant increase over fourth-quarter last year, the wire service reported. Bank of America's...

Finley Takes Baton from Bianchini as President/ CEO of Oklahoma League

Staff Writer | January 25, 2005

TULSA, Okla. - The fact that Lisa Finley has known for two years that she was the incoming president/CEO of the Oklahoma Credit Union League hasn't diminished the importance of the transition for her or her appreciation of the fact that she is now a member of the small but...

Number of potential members added in underserved areas rises as areas adopted declines.

Sarah Snell Cooke | January 25, 2005

ALEXANDRIA, Va.-While the number of credit unions adopting underserved areas has declined in the last three years, the number of potential members added in these areas has increased. According to NCUA's Insurance Reports of Activity, the number of potential members adopted in underserved areas in 2004 outpaced totals from 2002...

Wescom CU Makes Life Easier for Southern California Storm Victims

Staff Writer | January 25, 2005

PASADENA, Calif. - To lend a helping hand to members impacted by recent Southern California storms and subsequent mudslides, Wescom Credit Union has made emergency financial assistance available. "Assistance is available to our members, including interest free loans, deferred payments to those sustaining property damage or loss, free replacement checks,...

Embezzlement Cases Alleged at Two Wisconsin CUs

Staff Writer | January 25, 2005

TWO RIVERS, Wis. - Embezzlement charges are expected against employees of two credit unions, Shoreline CU and Two Rivers Community CU here in unrelated crimes. According to the Two Rivers Police Department, it was contacted on Dec. 20, 2004, to investigate a theft of approximately $12,000 from Shoreline Credit Union....

CUNA Mutual Hires Former Fireman's Fund CEO to Lead Company

Staff Writer | January 25, 2005

MADISON, Wis. -CUNA Mutual Group has gone outside the credit union industry, but within the insurance industry to find its new CEO. The company has named Jeff Post, former president and CEO of Fireman's Fund Insurance Company, Novato, Calif., as its new CEO. He started on Jan. 17. Fireman's Fund...