Credit Union Journal back issues from November 2008:
Foggy Future; Boom States-Turn-Bust Have CU Leaders Looking For Breaks In The Fog--Some Have Found Them.
Nov 03, 2008 ... Byline: Michael Bartlett, Reporter SAN FRANCISCO-Credit unions from the Golden and Silver States will be meeting here this week, with a backdrop of two state economies generating neither much gold nor much silver. It wasn't that long ago credit union leaders were ...
Corporate CUs Are Seeking An Easing On Mark-To-Market Rules In Letter To SEC.(Southwest Corp Economic Forum)
Nov 03, 2008 ... Byline: Michael Bartlett and Ed Roberts, Staff WASHINGTON-The corporate credit unions, which are facing growing losses on their mortgage backed securities, are asking regulators to amend the rules for fair value accounting to take into consideration the unprecedented devaluation ...
Two Big Questions At Southwest Corp Economic Forum: How Bad Is It, How Long Will It Last?(Southwest Corp Economic Forum)
Nov 03, 2008 ... Byline: Michael Bartlett DALLAS-It wasn't hard to find the undercurrent of an Economic Forum here: how bad is it, and how long will the recession last? During Southwest Corporate's Economic Forum here, noted economists Jeff Thredgold and Bill Hampel confirmed the ...
New Remote Solution Seen As Differentiator.(Southwest Corp Economic Forum)
Nov 03, 2008 ... Byline: Michael Bartlett DALLAS-With credit unions more than ever looking for ways to differentiate themselves from banks, Southwest Corporate said its new remote deposit solution is proving to be one such differentiator that credit unions can play up. Brad Ganey, ...
Prior To Election Results, Thredgold Suggests Race Is 'Obama's To Lose'.(Southwest Corp Economic Forum)
Nov 03, 2008; ... Byline: Michael Bartlett DALLAS-By the time many Credit Union Journal readers read this, results of the 2008 presidential election will be known. Here's one view of the race that was shared exactly one week before this week's election, during last week's Southwest Corporate ...
Attention Story-Tellers (And You Should Be One!) Time To Enter.(Views & Opinion)
Nov 03, 2008 ... Byline: Frank J. Diekmann Let's get right to it: if you can't tell your credit union's story this year, you have no business telling it. And if you have no business telling it, you have no business. That said, hear ye, hear ye, this is your Official Call For Entries ...
CALENDAR.(Views & Opinion)(Calendar)
Nov 03, 2008 ... NOVEMBER Nov. 2-5 14th Annual CUNA Lending Council Conference, JW Marriott, Orlando Grande Lakes, Orlando, Fla. For info: 800-356-9655, ext. 4393 or csorenson@cuna.coop. Nov. 2-5 CUES CEO Network, Four Seasons Hotel, Las Vegas. For info: ...
Provenant FCU President's Tussle With 'Bank Robber Bob' Leads To Suspect's Arrest.(News)
Nov 03, 2008 ... DENVER-Police are crediting last month's struggle between a robbery suspect and the president of Provenant Federal Credit Union with the capture of the bandit, who is believed to have hit as many as 14 area credit unions and banks since June. John Lehman, 41, known as "Bank ...
CUs Sue Insurer Over Failed Centrix Claims.(News)
Nov 03, 2008 ... LOS ANGELES-Some of the biggest credit union participants in the failed Centrix Financial subprime auto loan program filed suit in state court against Lyndon Property Insurance recently claiming the insurer has stopped paying millions of dollars in claims on defaulted subprime auto loans. ...
LANCO FCU Starts MBL CUSO.(News)
Nov 03, 2008 ... LANCASTER, Penn.-LANCO FCU announced it has formed a new CUSO to offer member business services to other credit unions. Vision One LLC will offer a variety of services, specializing in risk analysis and loan review. It will also continue to explore ...
Technology Is Key To Finding Silver Lining In Financial Crisis.(Views & Opinion)
Nov 03, 2008 ... Byline: Chuck Klein The direct and indirect mortgage losses that the financial services industry are experiencing have dominated the news headlines for several months, and recent passage of the $700 billion treasury plan is a testament to the distress that many institutions are ...
Momentum Is Beginning To Build For A CU-Specific Bailout Package.
Nov 03, 2008 ... Byline: Ed Roberts, Washington Bureau Chief WASHINGTON-With increasing portions of the $700-billion bailout package being earmarked for banks, credit unions are looking to develop a rescue plan of their own. CUNA called on NCUA to create its own "shadow" asset relief ...
Hurricane Season Brings Out Best In Movement.(Views & Opinion)
Nov 03, 2008 ... For a lot of credit unions along the Atlantic and Gulf Coast regions, we are (hopefully) nearing the end of another tough hurricane season: Hurricane Dolly, followed by Tropical Storm Fay, then the triple punch of hurricanes Gustav, Hannah and, most especially, Ike. These storms ...
On Branding: Why Change Is Not An Option.(need for branding of credit unions)(Viewpoint essay)
Nov 03, 2008; ... Byline: Paul Lucas As the presidential election draws near one thing is clear-this country is desperate for change. It's not surprising that Americans are looking for leadership that feels new and improved with a housing slump, an economic collapse and a war to deal ...
Reg Relief Repackaged As Economic Stimulus BIll.(Washington Watch)
Nov 03, 2008 ... Byline: Analysis by Ed Roberts WASHINGTON-With the banking crisis eliminating any chances for regulatory relief legislation this year, credit unions are hoping to get their main reg relief priorities on the final train leaving Congress this year-the economic stimulus package ...
NCUA Sued For Repudiating Norlarco Contract.(Washington Watch)
Nov 03, 2008 ... Byline: Analysis by Ed Roberts ALEXANDRIA, Va.-A Texas savings and loan that had contracted with Norlarco CU to service its millions in Florida mortgages filed suit against NCUA claiming the federal regulator illegally repudiated the servicing contract when it took over and ...
Fannie And Freddie Debt Now Government Guaranteed.(Washington Watch)
Nov 03, 2008 ... Byline: Analysis by Ed Roberts WASHINGTON-The Bush administration made clear what had been implied in recent weeks, that debt issued by either Fannie Mae or Freddie Mac is now explicitly guaranteed by the federal government. Or did it? The companies were ...
AGENDA.(Washington Watch)
Nov 03, 2008 ... Comment NCUA requests for comment on Share ...
PEOPLE.(Washington Watch)
Nov 03, 2008 ... Teachers FCU, Farmingville, N.Y., named Thomas A. Fallon COO. TNB Card Services, Dallas, named Mitch Raymond senior vice president, product development. Elevations Credit Union, Boulder, Colo., named Gerry Agnes CEO. Enterprise Rent-A-Car, St. Louis, named ...
Unbanked To 'Bank On Philadelphia'.(News From cujournal.com)
Nov 03, 2008 ... PHILADELPHIA-A dozen area credit unions have joined banks and thrifts in a new program, called Bank on Philadelphia, to recruit unbanked people and get them to join a depository institution. The program is modeled on the successful Bank on San Francisco initiative that has been ...
'Church Lady' Bandit Strikes BMI.(News From cujournal.com)(Brief article)
Nov 03, 2008 ... WESTERVILLE, Ohio-Police are hunting for a woman who has robbed four financial institutions in recent days, three in the last week, including BMI FCU. The woman, dubbed the "Church Lady" robber because her dress resembles that worn to Sunday services, entered the credit union ...
Court Overturns Conviction.(News From cujournal.com)
Nov 03, 2008 ... TOLEDO, Ohio-A state appeals court reversed the conviction of one of five men involved in a string of credit union robberies that netted them almost $1 million. The conviction was reversed because the trial judge did not explain how much time the Toledo man faced in prison when ...
CUs Eye Key House Races.
Nov 03, 2008 ... Byline: Ed Roberts, Washington Bureau Chief WASHINGTON-Credit unions were involved in almost every one of the 535 House and Senate races but focued on a handful of races involving incumbent credit union supporters, and helping into new allies. In an unusual show of ...
Cumorah CU Reports It Is Suffering From 'Collateral Damage'.(News)
Nov 03, 2008 ... Byline: Michael Bartlett, Reporter LAS VEGAS-The last time Cumorah CU experienced delinquencies and foreclosures in large numbers, terrorists had wrecked the U.S. economy by highjacking planes and flying them into buildings. Now it is the economy itself going down in ...
What Happens In Vegas: Advent Of 'Staycations' Keep Tourism Down.(News)
Nov 03, 2008 ... Byline: Michael Bartlett, Reporter LAS VEGAS-Tourists are taking "staycations" rather than flocking to this gambling mecca in their usual numbers, resulting in layoffs at casinos, hotels and restaurants here in Glitter Gulch-and those layoffs strike at the heart of WestStar CU's ...
Upside To The Bust: Housing Affordable Again.(News)
Nov 03, 2008 ... Byline: Michael Bartlett, Reporter LAS VEGAS-With many CUs across the country awash in red ink, Nevada FCU is one of the bright spots with positive ROA and net income, despite its being located in one of the hardest hit states in the nation. Below, Brad Beal, CEO of ...
Economic Uncertainty At Macro Level Makes It Hard To Predict Loan Losses, Profitability At The CU Level.(News)
Nov 03, 2008 ... Byline: Michael Bartlett, Reporter SAN DIEGO-The greater difficulty of economic forecasting has only made it more difficult to run a credit union, according to Irene Oberbauer, CEO of the $4-billion San Diego County CU, who shared these thoughts on current management challenges ....
Booking Quality Loans, Not Stretching For Yield Among Challenges Facing CUs In 'Exciting Times'.(News)
Nov 03, 2008 ... Byline: Michael Bartlett, Reporter SACRAMENTO, Calif.-The region around the Golden State's capital continues to struggle with a fractured housing market, rising unemployment and myriad other woes, and the head of one of California's largest credit unions believes conditions are ...
Wescom Works Overtime Managing Risk.(News)(Darren Williams CEO of Wescom Credit Union)(Interview)
Nov 03, 2008; ... Byline: Michael Bartlett, Reporter PASADENA, Calif.-The process of running a credit union is significantly more complex and time-consuming these days, thanks to a sharply increased need to monitor the overall economy. That was the message from Darren Williams, CEO of ...
Financial Crisis Has Made Safety & Soundness Sexy.(News)
Nov 03, 2008 ... Byline: Michael Bartlett, Reporter RENO, Nev.-Many financial industry experts have spent recent months saying credit unions have an opportunity to grab market share during these troubled times, but public awareness of CUs' strength seems to be lagging-making Great Basin FCU's ...
Financial Assistance Center On Website, Other Member Outreach Efforts Are Key.(News)
Nov 03, 2008 ... Byline: Michael Bartlett, Reporter SANTA ROSA, Calif.-Despite the big challenges facing credit unions, particularly those in housing bust markets like California, there is a real opportunity to hammer home the trust factor while building real loyalty, according to Brett ...
Pacific Service Adds Online Educational Videos To Web.(News)
Nov 03, 2008 ... WALNUT CREEK, Calif.-Pacific Service Credit Union is offering two online videos which provide information about deposit insurance, financial stability, and the benefits of credit union membership on its website. The videos, titled "Why Your Deposits Are Safe" and "What is a ...
cujournal.com SURVEY.(News)
Nov 03, 2008 ... In the wake of the federal bailout: There is opportunity for our CU to grow 41% The opportunities are ...
Get On The Soap Box: New Blog For Credit Unions Is Launched.
Nov 03, 2008 ... WEST PALM BEACH, Fla.-Does reading the news in the credit union community often make you want to sound off? Here's your chance to make a point and even blow off a little steam. Credit Union Journal has launched a new blog titled CUSoapbox.com. The blog site will pull top news ...
CU Quick Reads because your time counts.(News)
Nov 03, 2008 ... Becker: CUs A 'Beacon Of Hope' SEATTLE-NAFCU President Fred Becker called credit unions a "'beacons of hope" amid the current market turmoil in remarks before the Credit Union Housing Roundtable Annual Meeting. Becker emphasized that some of the upheaval in the mortgage and ...
Unitus Offers Shopping Spree In Wake Of Financial Crisis.(News)
Nov 03, 2008 ... Byline: Ray Birch, Correspondent PORTLAND, Ore.-Just in time for the holidays-and the dive in Wall Street stocks-Unitus Community Credit Union is offering 16 $500 shopping sprees to help members through the difficult economy. The promotion, which selects eight winners on two ...
Under The Microscope: Latest Developments In Research.(News)(survey of online banking services)(survey on customer satisfaction of credit union members and bank customers)(study of credit unions members credit card portfolio performances)
Nov 03, 2008 ... Three-Fourths of American Households Are Banking Online BROOKFIELD, Wis.-Over 63 million American households routinely pay their bills online and use other online banking products according to survey sponsored by CheckFree. The 2008 Consumer Banking and Bill Payment Survey ...
Government Closing In On Implementing Mortgage Guarantee.(News)
Nov 03, 2008 ... Byline: Joe Adler, SourceMedia WASHINGTON-The government is moving closer to implementing a plan to guarantee 2 million to 3 million at-risk mortgages in return for an agreement from lenders to engage in systematic loan modifications. Federal Deposit Insurance Corp ....
NOW IN THE MARKET.(News)
Nov 03, 2008 ... MasterCard Launches Savings PURCHASE, N.Y.-MasterCard Worldwide has launched MasterCard Saving, which provides Debit MasterCard and eligible Prepaid MasterCard cardholders with hundreds of significant merchant-funded discounts and special offers each day from thousands of ...
Members Helping Members To Save On The Cost Of Fuel.(News)
Nov 03, 2008 ... Byline: Joyce Moed, Reporter LATHAM, N.Y.-Sunmark Federal Credit Union has introduced a program designed to assist its members in reducing fuel costs, while also creating dialogue between the members. Dubbed "Members Helping Members," the initiative encourages ...
Outside Groups Pour Millions Into CU Champion Paul Kanjorski's Re-Election Bid.(News)
Nov 03, 2008 ... Byline: Ed Roberts, Washington Bureau Chief WILKES BARRE, Penn.-The radio ad opens with Mariachi music in the background, while the narrator bashes Congressman Paul Kanjorski on his stance on immigration; a product of a national anti-immigration group, called Team America. ...
ON DEADLINE.
Nov 03, 2008 ... NCUA Predicts Its 2009 Spending Up By 15% ALEXANDRIA, Va.-Increased supervision over troubled CUs and other actions related to the ongoing financial crisis will push up spending by NCUA approximately 15% next year, the agency said at its annual budget briefing last week. ...
Truliant Uses Member Videos To Reach Congressman.(News)
Nov 03, 2008 ... Byline: Joyce Moed, Reporter WINSTON-SALEM, N.C.-Truliant Federal Credit Union is trying to get the attention of members of Congress with a video comprised of testimonials from three of the CU's members who live in Congressman Mel Watt's district. The three-minute ...
CUs Band Together To Host Financial Forum On TV.(News)
Nov 03, 2008 ... SAN ANTONIO-The Alamo Chapter of CUs sponsored a townhall-style Financial Forum on a local television station giving views the opportunity to ask financial experts questions about their financial concerns. The event was featured as part of TV station KENS 5 "Great Day SA" show ....
WORTH NOTING.(News)
Nov 03, 2008 ... Boeing Wichita CU Names Corwin As CEO WICHITA, Kan.-Boeing Wichita CU, the state's largest credit union, announced last week that Robert Corwin, chief operating officer at $1.8-billion First Tech CU in Portland, Ore., was hired to be its president and CEO. Corwin ...
Marking 1st 100 Years.(News)
Nov 03, 2008 ... MANCHESTER, N.H.-CU Journal is joining with St. Mary's Bank and CO-OP Financial Services, to recreate the first credit union transaction 100 years later. "Nov. 24, 1908 is a special day for St. Mary's Bank, one we're proud ...
What New Congress, Administration Will Mean.
Nov 10, 2008 ... Byline: Ed Roberts, Washington Bureau Chief WASHINGTON-While credit unions lost some friends and added some new ones in last week's elections, the major impact of the widening of Democratic majorities in the House and Senate is expected to be an increasing focus on major ...
WORTH NOTING.(News)
Nov 10, 2008 ... CUNA Takes Charge Of '30 Under 30' MADISON, Wis.-CUNA said last week it will launch a new version of the Filene Research Institute's "30 under 30" group to help make credit unions more relevant to young adults. Filene had indicated at the time of the group's launch that it would ...
CU Gets Airtime, Invites Today Show To Credit Unions' 100th B-Day.(News)
Nov 10, 2008 ... Byline: Ray Birch, Correspondent MANCHESTER, N.H.-To draw national attention to St. Mary's Bank's 100th anniversary, employees from the credit union headed to the "Today Show" in New York City and captured a few minutes of fame. The stunt drew attention for St ....
Birthday Countdown.(News)
Nov 10, 2008 ... Byline: Ray Birch, Correspondent MANCHESTER, N.H.-America's first credit union, St. Mary's Bank, will celebrate its centennial-and the 100-year milestone of the birth of the credit union movement-on Nov. 24, 2008. Credit Union Journal will be on hand to recreate that historical ...
NOW IN THE MARKET.(News)
Nov 10, 2008 ... Transactions Soar At CUSO WARRENVILLE, Ill.-Balance Sheet Solutions LLC, the broker/dealer and investment advisory CUSO of Members United Corporate FCU, has seen more than a 400% increase in marketable securities transactions and an almost 1,200% increase in jumbo certificate ...
Lessons From Credit Union Expo & Elsewhere Around CU Land.(Views & Opinion)
Nov 10, 2008 ... Byline: Frank J. Diekmann If you knew nothing of credit unions, would you take a morning or afternoon off to travel to an "Expo" and find out more? Credit unions in the Tampa Bay area now know that at least some folks will. They have just completed hosting their ...
Call For Entries!(Views & Opinion)
Nov 10, 2008; ... Byline: Frank J. Diekmann Have you found an effective way to tell your credit union's story, or the credit union story itself? The 4th Annual Frankie Awards are now calling for entries. The awards recognize credit unions that have found an innovative way to explain what they ...
CALENDAR.(Views & Opinion)(Conference news)(Calendar)
Nov 10, 2008 ... NOVEMBER Nov. 12-15 AACUL Annual Meeting, TBA. For info: 800-356-9655, ext. 4019 Nov. 20 NCUA Board Meeting DECEMBER Dec. 1-5 CUNA Business Lending Institutes: Fundamentals and Credit Analysis; TradeWinds ...
It Wasn't Easy Being Green, But CU Spirit Of Cooperation Certainly Made It Easier.(Views & Opinion)
Nov 10, 2008 ... Byline: Kelley Parks Seven and a half years ago I attended a League Marketing Workshop. I had just started working at the credit union. I didn't have a single brochure, never done a promotion, nothing, nada, zip, zilch. As the first marketer of my credit union, I was charged ...
CU Card Pilot Another Casualty Of Financial Crisis.(Washington Watch)(Brief article)
Nov 10, 2008; ... Byline: Analysis by Ed Roberts FRAZER, Penn.-Organizers of a credit union-owned payment card have postponed the pilot of the secure card until next year, while they work to raise money for the project in a very difficult financing environment. "We still don't have ...
NCUA Shakes Up Office Of Corporate CU Oversight.(Washington Watch)
Nov 10, 2008 ... Byline: Analysis by Ed Roberts ALEXANDRIA, Va.-With losses growing among the corporate network, NCUA moved aside the director of its Office of Corporate CUs last week. Kent Buckham, who has headed the corporate office for the past six years, was reassigned to head the ...
CU Cash, Volunteers Help Supporters, But Not All Win.
Nov 10, 2008 ... Byline: Ed Roberts, Washington Bureau Chief WILKES BARRE, Penn.-Dozens of credit union volunteers fanned out days before last week's elections across Pennsylvania's 11th House district to knock on the doors of voters, many of whom had received mailings in the previous days ...
Losses Emerging In CUs In New Pockets Of The Nation.(Washington Watch)
Nov 10, 2008 ... Byline: Analysis by Ed Roberts SALT LAKE CITY-Losses are starting to spread to credit unions in an otherwise healthy market, with several Utah credit unions, including the state's second largest, Mountain America CU, which reported a whopping $22.2-million loss for the third ...
NCUA Charges Manager With Plundering Tiny CU.(Washington Watch)
Nov 10, 2008 ... Byline: Analysis by Ed Roberts WICHITA FALLS, Texas-NCUA claims the manager of TexDot-WF FCU looted as much as two-thirds of the assets of the tiny credit union through phony loans, forcing the federal regulator to shutter the 55-year-old credit union last month. In ...
AGENDA.(Washington Watch)
Nov 10, 2008 ... Comment FDIC: Comments on the Temporary Liquidity Guarantee Program are due Nov. 13. ...
POEPLE.(Washington Watch)
Nov 10, 2008 ... DATCU Credit Union, Denton, Texas, named Sheryl Jackson business development officer. CU Members Mortgage, Denver, Colo., named Patrick Kearney regional sales manager. Veridian CU, Waterloo, Iowa, promoted Dawn Sperfslage to communications project specialist and ...
COFCU Offers $3M In Mortgages.(News From cujournal.com)
Nov 10, 2008 ... GROTON, Conn.-Charter Oak FCU announced it is offering up to $3 million in discounted mortgages to those living in the Norwich area to help stimulate the local housing market. Under the program, area residents can apply for a half-percent rate reduction on 15- or 30-year fixed ...
Thunderbolt Area FCU Buys Branch.(News From cujournal.com)
Nov 10, 2008 ... MILLVILLE, N.J.-Thunderbolt Area FCU has agreed to acquire TD Banknorth's branch located at the main entrance to Millville Airport. The $12-million credit union plans to close the sale at the end of November and ...
Delta Offers 12-Month CD At 4.5%.(News From cujournal.com)
Nov 10, 2008 ... Delta Offers 12-Month CD At 4.5% ATLANTA-In an effort to attract new savings, Delta Community CU said it is offering a 12-month CD at 4.50%. The rate on the credit union's "StandingStrong" CD is significantly higher than ...