Credit Union Journal back issues from August 2006:
Dollar Faces Off Against ABA's Simmons In Vegas Debate.(American Bankers Association )
Aug 07, 2006; ... LAS VEGAS -- American Bankers Association Chairman Harris Simmons offered grave predictions for the future of credit unions, while former NCUA Chairman Dennis Dollar challenged banks to convert to credit unions if they truly want a "level playing field" during a staged debate between the ...
Card-Carrying Boilermaker: CU Beats Out MBNA For Affinity Card.(credit unions)
Aug 07, 2006; ... WEST LAFAYETTE, Ind. -- Purdue Employees Federal Credit Union has bucked the trend of credit union's selling off their credit card portfolios and instead gone head-to-head with credit card giant MBNA to garner the affinity card relationship with the Purdue Alumni Association. ...
No TLC For ILCs?: CUs Backing Out Of Credit Card Banks.(rules for credit unions)
Aug 07, 2006; ... WASHINGTON -- The growing controversy over the entry of non-financial companies into the banking business has forced credit union investors to abandon two separate efforts to finance projects that would have created credit card banks specifically for credit unions. Within a ...
Future Of CUs, CUSOs Is In Networks, Expert Predicts: Why One CUSO Leader Sees Enormous Opportunities In A Networked World Of Credit Unions.(credit unions)(Credit Union Service Organizations)
Aug 07, 2006; ... KENTWOOD, Mich. -- CU*Answers CEO Randy Karnes isn't afraid to break a few eggs, if that's what it takes to build a credit union-owned network. Tying that reachable dream to the prospect of doing business with one-million members (soon to be the total membership of CU* Answers ...
Execs See Biggest Payhike Since 2002, CUES Says.(chief executive officers)
Aug 07, 2006 ... MADISON, Wis. -- Credit union CEOs reported an average increase of 8.5% in base salaries, the highest pay hike since 2002, according to CUES 2006 Executive Compensation Survey. CUES surveyed 805 credit unions, 71% of whom also participated in last year's salary survey, allowing ...
On Deadline.(National Credit Union Foundation)(Brief article)
Aug 07, 2006 ... Surge In New Systems BOSTON-Increasing numbers of credit unions and banks will replace their core processing systems over the next three years-an estimated 1,100 institutions-as existing systems become outdated, inefficient or costly to operate, according to a new study issued ...
CUJournal.com, WesCorp Team For New Feature.
Aug 07, 2006 ... First, thank you to readers, as response to the enhancements at www.cujournal.com have been so overwhelmingly positive. Now, new this week, roll your cursor over the WesCorp button on the site's upper-left-hand side, to ...
Wash. Supreme Court OKs CUs, Trusts.(Washington)(okay)(Credit Union)
Aug 07, 2006 ... FEDERAL WAY, Wash. -- Washington's credit unions have won a victory in this state's Supreme Court. The Washington league is hailing the court for supporting the league and creditunion position to allow attorneys to house their trust accounts at credit unions. "This ...
Purcell, League Lobbyist, Killed In Accident.(obituary)(Obituary)(Brief article)
Aug 07, 2006 ... RANCHO CUCAMONGA, Calif. -- Kelly Purcell, 34, director of federal government affairs for the California and Nevada Credit Union Leagues, died of injuries she sustained when she was struck by a car while bicycling near her home in Chino, Calif. "This is a sad day for all of us ...
Report On Margin Squeeze Now Available For Download, Board Packets.(Brief article)
Aug 07, 2006 ... WEST PALM BEACH, Fla. -- In response to numerous reader requests, credit unions now have the opportunity to order reprints of the special report on credit union ROA entitled, "The Big Margin Squeeze," which appeared in the July 10 issue. Ideal for distribution in board packets, this ...
Worth Noting.(appointments and resignations)(Brief article)
Aug 07, 2006 ... Pa. Banking Regulator Resigns HARRISBURG, Penn.-William Schenck III has resigned as Pennsylvania's Secretary of Banking, effective Aug. 15. Schenck, who has played a role in several credit union field of membership disputes in the state, is leaving to take a ...
Butterflies-Lovely To Look At, But Watch Those Wings.(rules for credit unions)
Aug 07, 2006; ... The "butterfly effect" is a component of chaos theory that holds that small variations in the initial condition of a dynamical system may produce large variations in the long-term behavior of that system. In practice, the reference is to the theory that the fluttering of a butterfly's ...
Hoel Turns Filene Reins Over To Meyer, Will Stay On As Research Fellow.(Bob Hoel)(Mark Meyer)(Brief article)
Aug 07, 2006; ... MADISON Wis. -- Filene Research Institute Executive Director Bob Hoel will turn the reins over to Mark Meyer on Jan. 1, 2007, after 15 years at the helm of the credit union think tank. Meyer, who has served as Filene's Director of Innovation, has been with the organization for ...
Cornerstone Report Includes 20 CU Participants For 2006.(credit unions)(Brief article)
Aug 07, 2006 ... SCOTTSDALE, Ariz. -- Twenty credit unions are participating in two Advisory Boards to help model the survey instruments behind the inaugural edition of "The Cornerstone Report 2006: Benchmarks and Best Practices for Credit Unions," which is focused specifically on larger credit unions with ...
Ultimately, Success For CUs Not Measured By Ratios: As a system, we need not always agree on all issues; however, we must not allow differences of opinion on solutions to become excuses for lack of dialogue.(National Association of State Credit Union Supervisors)(credit unions)
Aug 07, 2006; ... From a systemic perspective, how does the credit union system define success? Or perhaps more appropriately, how should we define success? Credit unions may count higher net worth ratios, increased membership and measure myriad growth categories on balance sheets. A year with no ...
Research: A 5-Step Model To Creating Actionable, Useable Research.
Aug 07, 2006; ... The point of research is to collect actionable information that can be used to improve the member experience and grow the credit union. Here is a five-step model one credit union has used successfully for many years. Step 1: Research needs and trends. For example, research may ...
Letter To The Editor: CUNA's Approach Toward Bankers On Capitol Hill Is Right On.(Letter to the editor)
Aug 07, 2006 ... Ed Roberts' front-page story July 10 ("CUNA Goes On The Offensive Against Bankers On The Hill") states that CUNA's approach is "raising questions" among some in the credit union movement. There is no question in my mind-CUNA did the right thing. When I read about CUNA's approach ...
Best Practices Deadline Near; It's Easy To Enter.
Aug 07, 2006 ... WEST PALM BEACH, Fla.-The deadline for entering The Credit Union Journal's Best Practices competition is approaching. Entering is easy as 1, 2, 3. 1. Any CU, CUSO or vendor can nominate another or itself. The Best Practice must have been deployed since May 1, 2005. ...
CMG Breaks Ground On Customer Ops Center.(CUNA Mutual Group)(Brief article)
Aug 07, 2006 ... FORT WORTH, Texas -- CUNA Mutual Group broke ground on its new customer operations center, here, as it continues to revamp its approach to customer service and streamline its operations. "We are excited and eager to begin building this state-of-the-art customer service model in ...
CU-Turned-Bank Plans Public Stock Offering.
Aug 07, 2006 ... PLANO, Texas -- ViewPoint Bank, the former Community Credit Union until it converted charters on Jan. 1 of this year, has filed a prospectus with the Securities and Exchange Commission indicating it plans a public stock offering. According to its filing, the bank plans to raise ...
Three Cal. Board Members Survive Recall Effort.(California)(Sun Community Federal Credit Union)
Aug 07, 2006; ... IMPERIAL, Calif. -- Three members of the board of directors for Sun Community Federal Credit Union, based in nearby El Centro, received overwhelming support from the CU's members, who resoundingly rejected a recall attempt during a special meeting here. The three directors ...
DFCU Financial Members Offered Access To Documents-If They Keep It Confidential.
Aug 07, 2006; ... DEARBORN, Mich. -- DFCU Owners United has posted a link from its website, www.savemycu.com, to DFCU Financial's homepage where members can download a confidentiality agreement that will allow them to view materials related to the $1.8-billion CU's conversion attempt. While DFCU ...
Columbia CU Delays Its Annual Meeting.(credit unions)(Brief article)
Aug 07, 2006 ... VANCOUVER, Wash. -- The board of Columbia CU agreed last week to indefinitely postpone its annual meeting scheduled for later this month while it reviews last month's appeals court ruling in a case brought challenging its ill-fated conversion to mutual savings bank three years ago. ...
Product & Service.(Financial Service Centers Cooperative Inc. said 30 other credit unions have signed up for disaster recovery)(AM Community CU contracts with Business Lending Services LLC)(Digital Dialogue partnered with Membership Marketing Support Services)
Aug 07, 2006 ... 30 Sign Up For Disaster Recovery SAN DIMAS, Calif.-Financial Service Centers Cooperative, Inc., the international credit union shared branching network, reported more than 30 credit unions have signed up for its disaster recovery services with more expected in 2006 in the wake ...
CUNA Steps Into Fray In Congressional Primaries.(Credit Union National Association)
Aug 07, 2006 ... WASHINGTON -- Over the past three elections CUNA has been slowly stepping into new territory for political action, an area known as independent expenditures, in which political interest may finance advertising, direct mail and other initiatives on behalf of a favored candidate-but without ...
'Going Negative' Bears Results For CU Lobby.(credit unions)(Brief article)
Aug 07, 2006 ... WASHINGTON -- CUNA was claiming credit last week for the Senate's rejection of a regulatory relief proposal that would have allowed thrifts to increase their business lending. The CUNA effort, which included a letter-writing campaign to lawmakers, represents a new initiative by ...
NCUA Figure Added To Housing Finance Board.(Geoff Bacino to the Federal Housing Finance Board)(Brief article)
Aug 07, 2006 ... WASHINGTON -- The Senate confirmed former NCUA Board member Geoff Bacino to the Federal Housing Finance Board, the regulator for the nation's 12 Federal Home Loan Banks. Bacino, the first credit union figure to serve in the critical mortgage regulatory role, was sworn in to office shortly ...
Agency Denies Another CU Conversion Bid.(Credit Union)(Sunshine State Federal Credit Union to be converted as savings bank application not approved)(Brief article)
Aug 07, 2006 ... ALEXANDRIA, Va. -- NCUA rejected an application from Sunshine State FCU to convert to a mutual savings bank, even though the $130 million credit union received clearance, as well as member approval for the charter switch more than two years ago. The credit union regulator ...
People.(new appointments)
Aug 07, 2006 ... CUES, Madison, Wis., announced the following people attended the DIrectors Leadership Institute at the London Business School. CUES DLI attendees were Fred Johnson, Gary Mohler, Lori Magar, Ellen Frank, John B. Richer, Jr., Judy Evans, John Greaney, Mike Kolb, Marvin Hawk, Dennis Osmer, ...
Mobile ATM For Emergencies.(Automated Teller Machine )(Brief article)
Aug 07, 2006 ... TAMPA, Fla. -- Suncoast Schools FCU has introduced a mobile ATM that will facilitate member services during hurricanes and other disasters that may disable branches or other delivery channels. The 34-foot self-contained unit is built on a freightliner chassis with a ...
CUs' Role In Disaster Relief Explored.
Aug 07, 2006 ... WASHINGTON -- The Senate Small Business Committee approved a bill to increase the capabilities of the Small Business Administration in disaster relief by, among other things, allowing the credit unions to provide loss verification and loan processing services. The bill would ...
Horse Thieves Sentenced For Heist.(Brief article)
Aug 07, 2006 ... CORTEZ, Colo. -- A mother and daughter, sentenced to prison last month on horse rustling charges, were jailed for their roles in the May 2005 robbery of $105,000 from Southwest Colorado FCU here. Mother Sharon Vaughn, 61, received five years in prison for her role in the ...
Kansas CUs Support Charities.(credit unions)(Brief article)
Aug 07, 2006 ... TOPEKA, Kan. -- Nine local credit unions, members of the Topeka CU Foundation, collected $50,000 to support nine area non-profits. The first donation was awarded to the Marian Clinic, which provides medical and dental care to the uninsured. Other charities ...
DCU For Kids Ups Ante In Fundraiser.(credit unions)(Brief article)
Aug 07, 2006 ... MARLBOROUGH, Mass. -- Digital FCU said its DCU for Kids foundation raised a new high of $270,000 during two fundraising events for the Boomer Esiason Foundation to combat cystic fibrosis. The charity was named for the former NFL quarterback whose son is stricken with the ...
Area Youth See CU Benefits.(credit union services)(Brief article)
Aug 07, 2006 ... NEW YORK -- More than 30 children received free vision examination here, courtesy of Municipal CU and the New York Children's Vision Coalition. Exams were conducted in the Vision Coalition's 37-foot mobile trailer in front ...
Feds Chase ID Theft Scheme.(management of credit union )(Brief article)
Aug 07, 2006 ... SACRAMENTO, Calif. -- Hundreds of customers at Dollars Tree discount stores have reported funds being stolen from their credit union and bank accounts in recent weeks by unauthorized ATM withdrawals, authorities said. At least 30 members of the Golden 1 CU have reported ...
Hey, Big Spender!: New Reality TV Show Tackles Americans' Penchant For Living Beyond Their Means.(analysis of television programs)(Brief article)
Aug 07, 2006; ... WEST PALM BEACH, Fla. -- If you thought credit counseling wasn't sexy enough for TV-much less the high-drama high jinx of reality TV-think again. Proving that financial dirty laundry can be as much of a draw as any other dirty laundry, a new reality TV series called "Big ...
One Way To Bring In New Business Accounts: Purchase Them.
Aug 07, 2006; ... INDIANAPOLIS -- If you can't serve them, buy them. In an effort to widen its revenue stream, FORUM Credit Union created a CUSO in order to buy the medical consulting firm, Health Care Economics, Inc., a firm with nearly three decades' experience helping medical professionals ...
Product & Service.(Ultradata Systems Inc partnerships with Strunk and Associates )(iPay Technologies Launches Expedited Bill Pay)(EasCorp partnershipspartnerships with MEMBERS Trust Co)
Aug 07, 2006 ... ULTRADATA Teams Up With Strunk PLEASANTON, Calif.-Harland Financial Solutions' ULTRADATA System for core processing has entered into an agreement with Strunk & Associates to offer Strunk's Overdraft Privilege program to ULTRADATA clients. ULTRADATA said the agreement ...
Ent, University Create All-In-One Campus Card.(Ent Federal Credit Union contracts)
Aug 07, 2006; ... COLORADO SPRINGS -- Ent Federal Credit Union is using a new card partnership with a local university to reach out to young people, an area in which credit unions traditionally don't often thrive. In an attempt to serve a significant portion of the Colorado Springs area and ...
In The Cards.(Texas Credit Union League has designated TNB Card Services as its endorsed debit card processing provider)(Pontiac Federal Credit Union sold its credit card portfolio to Elan Financial Services)(Discovercard.com has been ranked No. 1 in online customer experience)
Aug 07, 2006 ... TCUL Endorses TNB Card Services DALLAS-The Texas Credit Union League has designated TNB Card Services as its endorsed debit card processing provider for TCUL's 600-plus member credit unions. That designation is in addition to TCUL's recognition of TNB as its ...
Branding Challenge: Welcome New FOM, Don't Alienate Old.(field of membership )
Aug 07, 2006; ... MODESTO, Calif. -- How do you make a new field of membership feel right at home without the old FOM feeling as if they've been kicked to the curb? That was the challenge faced by Mocse FCU. The credit union had served educational employees in this San Joaquin Valley city since ...
Alabama Governor Joins MAX During Tour Of CU's Facility.(new appointment of Bob Riley )(Brief article)
Aug 07, 2006 ... MONTGOMERY, Ala. -- Gov. Bob Riley became one of MAX FCU's newest members, opening a share account, during a visit to the Eastdale office last week. During Riley's tour of the facility, MAX Manager of Quality Assurance Nancy Reams invited the governor to become a member of the ...
Disaster Workshop Planned.(Credit Union Development Workshops on disaster recovery planning)(Brief article)
Aug 07, 2006 ... ALEXANDRIA, Va. -- The National Credit Union Administration (NCUA) has scheduled Credit Union Development Workshops on disaster recovery planning, financial literacy and other hot topics, to be held in Troy, N.Y., Aug. 3 and Jackson, Miss., Aug. 5. The first one took place in Seattle on ...
Product & Service.
Aug 07, 2006 ... White Papers Are Made Available MILPITAS, Calif.-NeoScale, which provides data storage security solutions, is offering a series of white papers to credit union executives. Among the white papers available are "Achieving PCI Compliance with Storage Security Solutions" and "Global ...
Notes From WOCCU's World Credit Union Conference In Ireland.(Conference notes)
Aug 07, 2006 ... DUBLIN, Ireland -- The World Council of Credit Unions (WOCCU) held its annual World Credit Union Conference here, with nearly 2,000 people from around the globe in attendance. Below is a look at some of what was said and happened during the meeting. Irish Regulator, Trade Group ...
Root (Canal) Of An Idea: Michigan's Affinity Group CU Finds A Niche With Dentists.(Credit Unions)
Aug 07, 2006; ... PONTIAC, Mich. -- The only thing worse than a root canal is paying the dentist's bill afterwards. That's what inspired Affinity Group CU CEO Tom Miller to ask his dentist how patients paid for expensive procedures. "He told me he had a loan program through Citigroup but said it ...
Gulf Data Systems To Become CU*South, Offer Shares.(Gross Debt Service)(Credit unions)
Aug 07, 2006; ... MOBILE, Ala. -- Working to restore credit union systems after the devastating impact of Hurricane Katrina wasn't enough for Gulf Data Systems President Leo Vaulin - he wanted to help them to grow and prosper. That's where GDS' partnership with CU*Answers comes in. CU*Answers' ...
Credit Unions In Their Communities.(Miles for Miracles to benefit the Children's Hospital Boston)(Lutherville, plans to open a student-run branch at Dundalk High School)(Wright-Patt Credit Union gives financial aid to the students)(Brief article)
Aug 07, 2006 ... * Credit Unions of Massachusetts, Boston, sponsored Miles for Miracles to benefit the Children's Hospital Boston. Eastern Corporate FCU presented a check for $100,000 to the hospital. * First Financial of Maryland FCU, Lutherville, plans to open a student-run branch at Dundalk ...
FAQs about Changes At www.cujournal.com.(technology applications)
Aug 07, 2006 ... WEST PALM BEACH, Fla. -- Response to The Credit Union Journal's new website at www.cujournal.com has been overwhelmingly positive, and we appreciate your comments. Subscribers to The Journal now have significantly more resources and content available to them. With ...
MCUA Joins With REAL Solutions.(Missouri Credit Union Association)(Brief article)
Aug 07, 2006 ... MADISON, Wis. -- The Missouri Credit Union Association has announced plans to join the Filene Research Institute's REAL Solutions program. Missouri joins Wisconsin, Maryland and Ohio in providing guidance, business models, training, products and services to credit unions to ...
NCUA Takes Over Philadelphia CU.(National Credit Union Administration)(credit unions)(Brief article)
Aug 07, 2006 ... PHILADELPHIA -- NCUA has assumed control of the operations at Mt. Hebron Baptist FCU here. Chartered in 1970, the credit union serves the members of Mt. Hebron Baptist Church in Philadelphia. It has assets of $30,906 and ...
CUNA Efforts In Primary Races Experience Major Setback.(television advertising)
Aug 14, 2006; ... HARTFORD, Conn. -- In a major setback to Sen. Joseph Lieberman-and CUNA-the three-term incumbent and staunch supporter of President Bush's war in Iraq went down to defeat in last week's Democratic primary, only the fourth incumbent senator to lose a primary since 1980. The ...
A Wake-Up Call To ARMs: Will CUs Reap Rewards As Consumers Flee To Safety?(adjustable rate mortgages)(credit unions)
Aug 14, 2006; ... FORT WORTH, Texas -- The long arm of those adjustable rate mortgages (ARMs) and Interest only (IO) mortgages is driving consumers into the arms of credit unions and may finally help boost the CU market share at last, according to a number of mortgage experts. Repricing ARMs and ...
CMG Seeks Crop Of Growth Opportunities.(CUNA Mutual Group)
Aug 14, 2006; ... MADISON, Wis. -- Growing its products to include crop insurance isn't merely an effort to increase the harvest at CUNA Mutual Group-it's also about helping to cultivate new credit union members, according to CMG CEO Jeff Post. "This is about a different way of viewing CUNA ...
Experts Counsel CUs To Offer Counseling.(Prevention and Consumer Protection Act of 2005)
Aug 14, 2006; ... FARMERS BRANCH, Texas -- It's been nearly a year since borrowers and lenders alike have lived under the landmark bankruptcy reform law credit unions worked so hard to get passed, and some within the credit union community say they see a disconnect between the mission of credit unions and a ...
Hyland Tells IT Pros To Focus On Their Members, Not Regs.(information technology)
Aug 14, 2006; ... ORLANDO -- NCUA is still analyzing the data it collected on how credit unions are serving members of modest means but is about "three quarters done," with the end-of-August deadline looming, according to NCUA Board Member Gigi Hyland. Hyland offered the update during her ...
On Deadline.(Brief article)
Aug 14, 2006 ... Fed Adjusts TILA Trigger WASHINGTON-The Federal Reserve Board has adjusted the dollar amount that will additional disclosure requirements under the Truth in Lending Act (TILA) for home mortgage loans that bear rates or fees above a certain amount. The new trigger, ...
CRI Launches New CRI Systems.(Creditor Resources Inc launched a new technology subsidiary )(Brief article)
Aug 14, 2006 ... ATLANTA -- Creditor Resources, Inc. (CRI) has launched a new technology subsidiary, CRI Systems, Inc. The new subsidiary is based out of Elridge, Md., boasting more than 70 employees and housing CRI's regional Technology Centers of Excellence, insuring the same individuals who ...
Truliant Animated About Campaign.(Truliant Federal Credit Union)(Brief article)
Aug 14, 2006 ... WINSTON-SALEM, N.C. -- A new multi-pronged advertising campaign on behalf of Truliant FCU features real-life members who happily share their experiences in their own words. The ads, dubbed the Animated Campaign, were designed by local shop Jennings Co. and were based on more than 450 hours ...
CACU Contracts For Image Solution.(contracts)(CommunityAmerica Credit Union)(Brief article)
Aug 14, 2006 ... LENEXA, Kan. -- CommunityAmerica CU has signed with Vsoft Corp. to implement the company's electronic check and image capture and transfer solutions. Under the deal, the $1.5-billion credit union will implement Vsoft's eDesk Branch Item Capture, Genesis and Archive solutions. ...
CMG Adds Pitney Bowes Services.(CUNA Mutual Group)(Brief article)
Aug 14, 2006 ... MADISON, Wis. -- CUNA Mutual Group has selected Pitney Bowes to help streamline its mailstream operations by providing mail and imaging services for the company's Waverly, Iowa, operations. Pitney Bowes will provide inbound mail, document capture and data capture ...
Earnings Slide At eFunds.
Aug 14, 2006 ... SCOTTSDALE, Ariz. -- eFunds Corp., the processor for CO-OP Financial Services, reported that second quarter earnings declined by 23% to $10 million, or 27 cents a share, mostly because of a $6 million loss at its newly acquired Prepaid Card Solutions unit. In addition, last year's second ...
S1 Falls Into The Red.(S1 Corp. sales data)(Brief article)
Aug 14, 2006 ... ATLANTA -- Financially ailing S1 Corp. reported a second quarter loss of $2.1 million, or two cents a share as its revenue base continued to deteriorate in the second quarter. The provider of online services to credit unions and banks, said revenues declined by 2% in the second quarter to ...
Filene Expands i3 Group.(Filene Research Institute)(Center for Credit Union Innovation)(i3 group)(Brief article)
Aug 14, 2006 ... MADISON, Wis. -- The Filene Research Institute and the Center for CU Innovation have chosen 28 additional rising credit union executives to replace the 25 inaugural members of the i3 group, focusing on ideas, innovation and implementation. To qualify, members of i3 obtained ...