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  • 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...

  • CUs may need for-profit-like compensation tools to attract tomorrow's CEOs; CUNA Mutual says it has an answer

    MADISON, Wis. - It's not quite a doom and gloom scenario, but there's considerable concern in the industry about the number of credit union CEOs expected to retire in the next five years. CUNA Mutual says its new for-profit-like compensation product can give CUs another weapon in attracting and retaining...

  • Donations

    Florida Commerce Credit Union, Tallahassee, has raised $4,615 for the 2001 March of Dimes during the WalkAmerica campaign. FCCU placed third in monies raised. With the help of credit union members, employees and volunteers sold special March of Dimes bean bag babies, paper sneakers, and solicited sponsor funds for the...