CHICAGO - The Woodstock Institute wants a few good credit unions. The Institute, an organization that has criticized mainstream credit unions in the past, wants four mainstream credit unions to work with four community development organizations that have indicated a desire for credit union services. The Institute will use grants...
ATLANTA - Goodbye, blue screen. CuServ is now doing Windows. Harland Financial Solutions is beginning to replace the venerable character-based front-end teller system for small credit unions with a new Windows-based processing platform it calls CuServ Evolution. About 250 of Harland Financial Solutions' 625 credit union core processing clients are...
WASHINGTON - Credit unions will spend between $650 million and $800 million on technology in 2004, the third-highest expenditure for CUs behind salaries and office operations, according to Callahan & Associates. Callahan is basing that estimate on replies from 85 credit unions that responded to a recent survey. Those credit...
WASHINGTON - What appeared to be a major win for U.S. Small Business Administration's 7(a) loan program with the House of Representative's recent approval of nearly $80 million in additional funding, is getting a lukewarm reception from the agency as it continues to seek zero subsidy from the federal government....
DENVER - Combining a gesture of civic support with a boost for all members of Colorado and Wyoming credit unions, Centrix Financial LLC, the Denver-based subprime vendor of auto loans, said it will be giving away one-day "free passes" to next month's Grand Prix event in downtown Denver. "The free...
WASHINGTON-Six Republican members of the House Ways and Means Committee have broken ranks with their chairman. In a June 25 letter to President George W. Bush, Representatives Philip Crane (Ill.), the second-highest ranking Republican on the committee; Nancy Johnson (Conn.); Michael "Mac" Collins (Ga.); Jerry Weller (Ill.); Ron Lewis (Ky.);...
MADISON, Wis.-When nominations to the CUNA Board closed July 9, 13 names were in for seats on the board. The District 4, Class A election appears to be heating up, where incumbent Rolla (Mo.) Federal Credit Union CEO Janet Honse is facing challengers Wauwatosa Credit Union (Wis.) CEO Dean Wilson,...
WASHINGTON - Consumers for Responsible Credit is warning consumers that they some credit counseling agencies should be subject to more scrutiny. In an 80-page report released on July 13, CRC, a national advocacy group, said those seeking help from a National Foundation of Credit Counseling affiliate such as Consumer Credit...
NEW YORK - When the $7.3 million SAKS Fifth Avenue Enterprises FCU rolls out its new payroll card later this year it will emphasize an often overlooked attribute: portability. SAKS' payroll cardholders will be able to take their cards with them if they eventually leave the department store chain and...
In coming from a bank environment two years ago to start up an SBA department at a credit union, I was immediately shocked by the regulator limitations placed upon SBA lending. Both of SBA's flagship programs for lenders, the 7a and the 504 loan programs, were restricted by NCUA regulations,...