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Loans to Sheriff's Office do not Meet Any of Member Business Loan Exceptions, NCUA Says

Peter Westerman | June 07, 2005

ALEXNDRIA, Va. - Despite offering proof of repayment, NCUA recently concluded that loans made to a county's sheriff's office did not meet any of the exceptions under the definition of a member business loan. In a May 10 opinion letter, an unnamed credit union said it thought the loans met...

AssetExchange Hires Former MBNA Exec

Peter Westerman | June 07, 2005

PORTLAND Or. - Ron Turochy, a former executive with MBNA America and a card portfolio veteran has joined Asset Exchange, a leading independent broker of credit union's card portfolios. Toruchy has joined the firm as a vice president. Turochy brings over 15 years of credit card partnership experience to AssetExchange,...

CU 4 Reality Fair Offers Students a Reality Check on Everyday Living

Peter Westerman | June 07, 2005

MANCHESTER, N.H.-The parents of Mel Lawrence, an eighth grade student at Rundlett Middle School in Concord, N.H., may be happy to know that their son has a new appreciation for what they do. "I think a lot of us take housing for granted and [don't] realize that our parents have...

Charitable Foundation Gets Alliant CU Computer Gear

Peter Westerman | June 07, 2005

CHICAGO - Schools, churches and some impoverished homes in Chicagoland will be the beneficiary of Alliant Credit Union's donation of 86 personal computers, 103 monitors, eight servers, a network hub and more. The $4.4 billion CU donated the used tech gear to the Computers for Schools Foundation (www.pcsforschools.org), which will...

Term Deposits Push Corporate One's Balance Sheet Over $3 Billion

Peter Westerman | June 07, 2005

COLUMBUS, Ohio -Corporate One Federal Credit Union reached $3 billion in on-balance-sheet assets for the first time in its history in April. The record was driven by term certificate balances, which were up 38% over April 2004. Corporate One is growing. According to year-end data from Callahan & Associates on...

Fifty CUs Now Use Members Insurance Agency-FLDI Platform

Peter Westerman | June 07, 2005

AUSTIN, Texas - First Lenders Data Inc. (www.fldi.com) says 50 credit unions have now begun using MemberClose, a version of its Web-based bundled mortgage services offered by Members Insurance Agency LLC. Members Insurance Agency is based in Marlborough, Mass., and is owned by the credit union leagues of Massachusetts, New...

Proposal Would Impact Roth Contributions Starting in 2006

Peter Westerman | June 07, 2005

WASHINGTON - CUNA has thrown its support behind an IRS proposal that would allow credit union employees to make Roth IRA contributions to their 401(k) plans. Under the proposed regulations, a 401(k) plan may permit an employee who makes elective contributions under a qualified cash or deferred arrangement to designate...

Credit Union Plastic Cards Are Likely Seeing Fast Food Action

Peter Westerman | June 07, 2005

ARLINGTON, Va. - Americans used their debit and credit cards to purchase fast food in so-called "quick serve" restaurants 57% more in the first three months of 2005 over the first three months of 2004, according to CardWeb.com, a site on the internet which tracks credit card trends. Over the...

In Big Venture, Michigan Credit Unions Will Attempt to Document CRA-like Actions

Peter Westerman | June 07, 2005

PONTIAC, Mich.- In a new twist on documenting credit unions' social activism, the Michigan Credit Union League is launching a broad-based campaign to get all 380 of its member CUs to compile a full list of charity and goodwill projects. The list, being gathered in lengthy surveys sent to CEOs...

AFTECH Confab Draws CU Clients to Philadelphia

Peter Westerman | June 07, 2005

MALVERN, Pa. - AFTECH's 2005 Client Conference drew the largest turnout for the Fiserv core processing unit's annual conference since the pre-Y2K gathering in 1999, the company says. The May 4-8 gathering at the Hyatt Regency-Penn's Landing in Philadelphia was attended by more than 80 people from more than two-thirds...

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Loans to Sheriff's Office do not Meet Any of Member Business Loan Exceptions, NCUA Says

AssetExchange Hires Former MBNA Exec

CU 4 Reality Fair Offers Students a Reality Check on Everyday Living

Charitable Foundation Gets Alliant CU Computer Gear

Term Deposits Push Corporate One's Balance Sheet Over $3 Billion

Fifty CUs Now Use Members Insurance Agency-FLDI Platform

Proposal Would Impact Roth Contributions Starting in 2006

Credit Union Plastic Cards Are Likely Seeing Fast Food Action

In Big Venture, Michigan Credit Unions Will Attempt to Document CRA-like Actions

AFTECH Confab Draws CU Clients to Philadelphia

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