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Peter Westerman | February 03, 2004

Corporate Central Credit Union, Hales Corners, Wis., has named CUNA Credit Union President/CEO Kim Sponem board director. Heritage Credit Union, Madison, Wis., has named Brad Hegg marketing coordinator and John Schallern senior loan underwriter. Heritage Federal Credit Union, Newburgh, Ind., has promoted Shannon Bradley to senior vice president of marketing...

Missouri CU Commission Continues to Review CUs' Applications for FOM Expansions of More than 3,000

Peter Westerman | February 03, 2004

JEFFERSON CITY, Mo. - The Missouri Supreme Court may have given bankers standing to appeal a decision by the Missouri Credit Union Commission upholding a decision of the director of the state Division of Credit Unions that allowed Telcomm Credit Union to expand its field-of-membership to groups with more than...

Bush Administration Announces HUD `Zero Down Payment' Mortgage

Peter Westerman | February 03, 2004

LAS VEGAS - Federal Housing Commissioner John Weicher, speaking at the National Association of Home Builders' annual convention on Jan. 19, announced that the Department of Housing and Urban Development is proposing to offer a `zero down payment' mortgage as part of President George W. Bush's initiative to remove what...

Fed Holds Rate at 1%

Peter Westerman | February 03, 2004

WASHINGTON-The Federal Open Market Committee last week made a decision to hold the federal funds target rate steady at 1%. "The Committee continues to believe that an accommodative stance of monetary policy, coupled with robust underlying growth in productivity, is providing important ongoing support to economic activity. The evidence accumulated...

Still Plenty of Mortgage Opportunities Left, but CUs Need to Make Long Term Commitment

Peter Westerman | February 03, 2004

TUKWILA, Wash. and MADISON, Wis. - Any way you look at it - origination volume, rates - the last couple of years were great times for credit unions to be mortgage lenders. Although mortgage activity may have varied among markets because of demographic characteristics and real estate values, credit unions...

New Hampshire Credit Unions View Presidential Primary as Forum for Industry Concerns

Peter Westerman | February 03, 2004

MANCHESTER, N.H. - Just as voters headed to the precincts for the critical New Hampshire Presidential Primary on Jan. 27, credit unions here were in the thick of it all ensuring that their concerns were heard. "Credit unions have invested in the selection process, from attending candidate forums to pancake...

ASI Deposit Insurance Hits Record Highs

Peter Westerman | February 03, 2004

DUBLIN, Ohio-American Share Insurance recently reported that its preliminary figures for year-end 2003 show record levels of private deposit insurance coverage usage. According to ASI, the company had approximately $11.6 billion in primary insurance in force as of Dec. 31, 2003. Excess insurance also hit a record high $4.3 billion...

TowerGroup Study Shows Tech Spending Prompted More by Competitive Concerns

Peter Westerman | February 03, 2004

NEEDHAM, Mass. - Financial institutions in the United States plan to invest more strongly in technology, and they are now favoring tech spending with strategic potential over spending to save short-term costs, according to a new survey. Conducted this past summer by TowerGroup for the American Bankers Association and TowerGroup,...

ALM First Financial Advisors Break Down Wall of Skepticism in Early Days of Asset and Liability Management

Peter Westerman | February 03, 2004

DALLAS - The idea of credit unions paying for outside asset liability management expertise was foreign to most credit unions back in 1995 when ALM First Financial Advisors, LLC was formed. It's the norm today, and with $8 billion in credit union funds under management, ALM First's pioneering effort with...

State of California Agrees to Dismiss Credit Card Disclosure Suit

Peter Westerman | February 03, 2004

WASHINGTON-The state of California has agreed to dismiss the pending credit card disclosure case with prejudice, effectively making the law non-existent, according to CUNA General Counsel Eric Richard. The credit union trade associations and others had filed suit in California to reverse a law that would have required financial institutions...

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MIDWEST

Missouri CU Commission Continues to Review CUs' Applications for FOM Expansions of More than 3,000

Bush Administration Announces HUD `Zero Down Payment' Mortgage

Fed Holds Rate at 1%

Still Plenty of Mortgage Opportunities Left, but CUs Need to Make Long Term Commitment

New Hampshire Credit Unions View Presidential Primary as Forum for Industry Concerns

ASI Deposit Insurance Hits Record Highs

TowerGroup Study Shows Tech Spending Prompted More by Competitive Concerns

ALM First Financial Advisors Break Down Wall of Skepticism in Early Days of Asset and Liability Management

State of California Agrees to Dismiss Credit Card Disclosure Suit

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