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Underserved area additions continue to grow; charter conversions nearly balance out

Staff Writer | October 23, 2001

ALEXANDRIA, Va.-NCUA has been granting underserved area group additions at an unprecedented pace this year. In September alone, 20 total groups were approved for 15 federal credit unions creating an additional 1,505,154 new potential members. No applications were denied and 10 were deferred. Additionally, one federal credit union with $130...

VIFI ranked 100th on the Inc. 500

Staff Writer | October 23, 2001

INDIANAPOLIS - Internet solutions firm VIFI has been ranked 100th in the Inc. 500 annual listing. The Inc. 500 ranks the fastest growing private companies based on their increase in sales revenue over the previous five years. VIFI is ranked 100 due to a 2,353% growth between fiscal years 1996...

CUDL restructures pricing

Staff Writer | October 23, 2001

RANCHO CUCAMONGA, Calif. - CU Direct Corp., in a move the company says will help lower fees for credit unions participating in the CUDL network, has restructured its pricing based on funded contracts rather than each transaction through the CUDL system. Under the former pricing structure, credit union fees were...

Major vendor now bids to throw neural-net over money launderers

Marc Rapport | October 23, 2001

COLUMBIA, S.C. - A software company whose products help screen 85% of all U.S. credit card transactions now wants to throw its neural net over money laundering. HNC Software (www.hnc.com) of San Diego, Calif., now is offering Falcon for Money Laundering to the financial-services industry. Falcon software uses neural network-based...

Changing incidental powers

Sarah Snell Cooke | October 23, 2001

WASHINGTON-While credit unions seem to be initially pleased overall with the new incidental powers regulation passed by NCUA at its July board meeting and effective September 5, changes can still be made, according to NCUA officials on a CUNA-sponsored audio conference. A few changes were made from previous agency policy...

New York League schedules forums to discuss impact of terrorist attacks on CUs, economy

Staff Writer | October 23, 2001

LATHAM, N.Y. - Credit unions have been left with many uncertainties concerning their future and the outlook for the economy as a result of September 11's terrorist attacks. The New York State Credit Union League has scheduled a special series of free forums - "The Future of our Business" -...

MIDWEST

Staff Writer | October 23, 2001

Illinois Credit Union League, Naperville, Ill., has named Julie Boardman national account manager for the Illinois Credit Union League Service Corporation. MidWest Financial Credit Union, Ann Arbor, Mich., has named Eunice Dobbs vice president of service and business development.

News

Salazar now COO at MemberTrade Advisory

Staff Writer | October 23, 2001

ALBANY, N.Y. - Bart Salazar, CFA, has been named Chief Operating Officer at MemberTrade Advisory Services, LLC, a wholly-owned CUSO of Empire Corporate FCU. Prior to this move, he was Vice President, Investments, at Empire Corporate. Salazar will manage and oversee the daily operations of MemberTrade Advisory Services. MemberTrade Advisory...

Insurance coverage should factor in e-com exposures

Staff Writer | October 23, 2001

ALEXANDRIA, Va. - With more e-com operations comes more exposure risk. Credit unions should make sure their insurance coverage is adequate to cover potential risks of e-commerce products and services' said NCUA in a Letter to Credit Unions. The regulator warns that the typical fidelity bond may not protect e-commerce...

Delaware CUs make a splash

Staff Writer | October 23, 2001

NEW CASTLE, Del. - In honor of International Credit Union Day, the Delaware Credit Union League has published its first Credit Union Supplement in the statewide paper The News Journal. The 12-page, full-color supplement includes an explanation about the nature of credit unions and how to join, as well as...