• Barnes of First American Credit Union takes his Harleys on the road to unwind

    BELOIT, Wis. - Tom Barnes favorite loans are for motorcycles - especially Harley-Davidsons. In 14 years as president of First American Credit Union of Beloit, Wis., he's had only one Harley repossessed. "We have lots of motorcycle loans," he said. "Once it gets around that you're a rider, that you...

  • United Airlines, US Airways deal may be off; their CUs look ahead

    MOON TOWNSHIP, Pa. - If it happens, the credit union will just have to change its focus, says Joseph Cirelli, president/CEO of the $564 million US Airways FCU here. Cirelli is of course talking about the possibility of US Airways ceasing operations and selling off its assets. That is now...

  • Financial literacy efforts growing

    BIG RAPIDS, Mich. - There's good news for credit unions working to boost member understanding of personal finance. More groups and states are gearing up to emphasize the need for such education. One example is in Michigan, where Ferris State University has just established a Center for Financial Education. Other...

  • The results: CU wish list ambitious and lengthy

    WASHINGTON-CUNA's Renaissance Commission has been hard at work gathering information and suggestions from the credit union community as to where they would like credit unions to go. The 96 suggestions are awaiting action from the CUNA Board this fall. Here's what they came up with: Field of Membership (FOM) Issues...

  • Becker says NAFCU is becoming a stronger association

    ARLINGTON, Va.-Despite the conversions from federal to state charters, which NAFCU President and CEO Fred Becker believes is slowing or possibly stopping, NAFCU is still going strong and making improvements to the federal credit union environment, as well as to itself. Becker predicted that credit unions should be able to...

  • Credit union members hold fast to long-term investing, others turn back to cash

    MADISON, Wis. - For the first time since the last quarter of 1999, the Nasdaq, S&P 500 and Dow Jones Industrial Average have seen gains of 5 to 17% thanks in part to several Fed cuts, a liquidity surplus and the move of some investors out of cash and into...

  • Eased underwriting standards come back to haunt mortgage lenders

    WEST PALM BEACH, Fla. - Take a high rate of home ownership, made possible in some cases by liberal programs intended to help people into their first homes. Combine with a sluggish economy and rising unemployment. The result, according to some observers, is a recipe for rising mortgage delinquency. The...

  • SCCUs cross-subsidizing FCUs: Boeing ECU report on NCUA, NCUSIF

    WASHINGTON - Even before he began speaking, the title of Professor Lawrence White's report-"Caught in a Regulatory Vise: The Peculiar Problem Faced by Federally Insured State Chartered Credit Unions"-hinted at the key finding of his study: the regulatory structure of the NCUA and the NCUSIF is not only placing the...

  • Texans CU teams up with IT firm to create a truly integrated enterprise-wide solution

    RICHARDSON, Texas - There are a lot of credit union IT products built for credit unions, but few are built with a credit union's help during each step of development. That's what been happening here at Texans CU over the last two years. Not only did Texans CU change its...

  • Retirement can't keep Hutchinson from being involved in the CU movement

    WESTERLY, R.I. - John Hutchinson turned 80 in January and retired as president/CEO from Hamilton Sundstrand Federal Credit Union in Windsor Locks, Conn. more than 10 years ago, but this former NAFCU pioneer and credit union icon is still called on by industry notables for congressional testimony and expertise. At...