• Put your money where your PC is

    ORLANDO, Fla.-With the number of consumers using the Internet increasing daily, credit unions cannot afford not to be online. According to CyberBranch President and CEO Warren Marshall, not only is that where consumers are going more and more for business needs, but it is also a great strategy for targeting...

  • FirstCorp divests its share of ownership of Arizona Credit Union League Services Corp.

    PHOENIX, Ariz. - FirstCorp, the 22nd largest corporate in the U.S., has divested its share of ownership of the Arizona Credit Union League Services Corporation. FirstCorp has owned 50% of the service corporation and the Arizona Credit Union League has owned the remaining half. The two organizations have had an...

  • In economy, what goes down can come back up

    WASHINGTON-Federal Reserve Board Chairman Alan Greenspan told the House Financial Services Committee last week that between the agency's rate cuts and the administration's tax cut, the American economy should be reversing its downward course in due time. "Our accelerated action reflected the pronounced downshift in economic activity, which was accentuated...

  • NCUA to reduce 2001 budget at mid-year session, and cover other hot issues

    ALEXANDRIA, Va.-NCUA Acting Chairman Dennis Dollar said that the agency was planning on cutting its budget by more than $2 million at the upcoming July board meeting. Dollar said that all three NCUA Board members have been briefed on the $2,183,000, or 1.55%, budget cut. The reduction brings the entire...

  • Former CUs give final dividend

    APPLETON, Wis. - The AAL CU and the AAL Member CU here, which were liquidated and transferred to AAL Bank and Trust, have declared a final $15.5 million in liquidating dividends to their members. AAL Member CU dished out an 8.36% dividend, giving close to $12 billion to 46,753 members,...

  • Bush nominates Olson, former ABA president, to Fed

    WASHINGTON - President George W. Bush announced his intention to nominate Mark W. Olson to the Board of Governors of the Federal Reserve System, representing the 9th District for the remainder of a 14-year term expiring January 31, 2010. Most recently he served as Staff Director of the Securities Subcommittee...

  • Malheur FCU: How one small CU reached across the state border to expand its membership

    ONTARIO, Ore. - Businesses today are often advised to think "out of the box" in pursuing their goals to attract consumer dollars in today's highly competitive marketplace. Credit unions are no exception, and that's exactly what one small credit union in eastern Oregon did to expand its membership. Malheur FCU...

  • Release of Renaissance report irresponsible

    The appointment of a Renaissance Commission by CUNA is a forward looking management action; however, as reported in the July 11 issue of Credit Union Times, the output forwarded to the President of CUNA (Dan Mica) is a laundry list including many "visions" without evaluation, priority, weighing the relative sparseness...

  • AWARDS

    Texas Credit Union League, Dallas, has held an awards ceremony to recognize the dedication and achievements of four outstanding professionals in the credit union movement. GENCO Federal Credit Union President Billy F. Spivey has been named the "2001 Texas Credit Union Professional of the Year" and Texaco Community Federal Credit...

  • Lower market interest rates are good for credit unions-NOT!

    Recently, a well-known credit union economist stated that Fed rate cuts are good for credit union bottom lines because it increases the upward slope on the yield curve (a paraphrase). An examination of the graph exhibit shows a different reality. The chart shown here compiles Net Interest Income (NII) for...