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  • Renaissance: Tail wagging the dog?

    I just finished reading Brian McDonnell's comments on some of the Renaissance Commission recommendations (CU Times, August 22). I respect Brian for his candor. As CEO of a somewhat smaller credit union, I have a few candid comments too. It seemed odd from the beginning that this whole parade of...

  • Credit union presents hurricane preparedness seminar to community

    PORT NECHES, Texas - It's hurricane season again, and those living in "hurricane territory" are paying close attention to their weather forecasts. Texans take the threat of hurricanes seriously. The third deadliest hurricane to hit the western hemisphere in recorded history struck Galveston, Texas on Sept. 8, 1900, killing approximately...

  • Citigroup severs ties with 3,600 brokers working for controversial subprime lender

    NEW YORK - Citing "integrity concerns," Citigroup Inc., suspended business with more than 3,600 brokers who used to do business with Associates First Capital Corp., a subprime lender acquired last year by the banking conglomerate. Referring to a company internal memorandum, the Wall Street Journal reported that Citigroup has severed...

  • MIDWEST

    CEFCU, Peoria, Ill., has named Denise Ghere, first mortgage origination manager; Suzi Lauterbach, VISA operations manager; and Sara Payne, first mortgage operations manager. In addition, CEFCU has promoted the following employees to the following positions: Dennis Forcum, Chillicothe member center manager; Giann Henning, Morton member center manager; Matt Mamer, Morton...

  • GE Mortgage Insurance spells service C-O-W

    RALEIGH, N.C. - GE Mortgage Insurance has unveiled its first online claims service with real time response -Claims on the Web. "We've taken claims servicing to a new level", said GE Mortgage Insurance Senior Vice President/E-Business Leader Richard Nastasi. "This is yet another example of the Internet changing the game...

  • NCUA explains new risk-based exam policy

    ALEXANDRIA, Va.-In a letter to credit unions (01-FCU-05), NCUA reiterated its new risk-based examination policy. The new policy is expected to yield considerable savings to the agency and credit unions. Credit unions which are considered low-risk to the insurance fund will be examined twice every three years rather than annually....

  • CUs beat banks, thrifts for car loan rates

    WASHINGTON - Consumers borrowing from credit unions for new car loans stand to save big bucks over the life of the loan than if they borrowed money from a bank or thrift, says the latest findings of a Bankrate monthly survey. According to the August survey, banks and credit unions...

  • Lawyer named to Texas Credit Union Commission

    AUSTIN, Texas - Gov. Rick Perry has appointed James Burnett, a partner with the law office of Burnett, Trahan & Johnson, LLP, to the Texas Credit Union Commission, pending Senate confirmation. Burnett's appointment expires Feb. 15, 2007. The nine-member commission supervises the Texas Credit Union Department which oversees and regulates...

  • PSCU re-signs with First Data

    ST. PETERSBERG, Fla. - Payment Systems for Credit Unions, Inc., which is owned by more than 500 credit unions, has signed a five-year contract extension with Omaha, Nebraska-based First Data Resources. "First Data's economies of scale, advanced technology and expertise allow us to help our credit unions nationwide successfully manage...

  • Status of California privacy bill uncertain

    SACRAMENTO, Calif. - Legislators and Gov. Gray Davis' office continued to spar last week over provisions of a heavily lobbied privacy bill with both sides claiming their proposal would best protect consumers. With the Legislature scheduled to adjourn for the year on Sept. 14, it was unclear whether the bill...