Credit Union Journal articles from August 2005

Credit Union Journal archives from August 2005

Risk-Based Capital Is Omitted From New Reg Relief Bill.
August 1, 2005... WASHINGTON -- The House Financial Services Committee finally introduced its latest version of a regulatory relief bill for banks and credit unions-but conspiciously left out an NCUA-backed proposal to enact risk-based capital system for credit...

In The Blink Of An Eye: While Large Banks Have Announced Plans To Launch 'Blink' Credit Cards, Credit Unions Are Taking A Wait-And-See Approach.
August 1, 2005... DALLAS -- Credit unions may be taking a wait-and-see approach to contactless cards, but in the blink of an eye-literally-they're going to see some of their biggest competitors offering them in droves, according to some credit card experts. ...

MBL Mutual Fund Debuts For CUs.
August 1, 2005... MADISON, Wis. -- CUNA Mutual Group plans to introduce a new mutual fund comprised of member business loans to credit unions over the next few weeks. CUNA Mutual sees the CU Systems Fund, which will be made up of MBLs originated by credit...

WOCCU Recognizes Roman Contribution To CU Movement.(World Council of Credit Unions)
August 1, 2005... ROME, Italy -- For credit unions, all roads led to Rome last week as more than 1,000 credit union representatives gathered here for a World Council event. During the meeting eight WOCCU representatives traveled to the Vatican, which could...

On Deadline.
August 1, 2005... NCUA Queries Vote In OmniAmerican Conversion ALEXANDRIA, Va.-NCUA has introduced a new wrinkle into the flap over the conversion of Fort Worth, Texas-based OmniAmerican: voter eligibility. The regulator wants to know why only 99,000 of...

NCUA Questions Voting Eligibility In Conversion.(National Credit Union Administration )
August 1, 2005... ALEXANDRIA, Va. -- Against all odds, OmniAmerican CU submitted its bid to NCUA last week to convert to a mutual savings bank, asking the federal regulator to certify the controversial member ballot, despite the agency's vow not to approve the...

Wisconsin's Moore Withdraws Co-Sponsorship of CURIA.(Gwen Moore)(Credit Union Regulatory Improvement Act)
August 1, 2005... PEWAUKEE, Wis. -- U.S. Rep. Gwen Moore (D-WI) said concerns that some "enormous credit unions are acting more and more like traditional banks'' prompted her recent withdrawal as a co-sponsor of the Credit Union Regulatory Improvement Act (H.R....

Worth Noting.
August 1, 2005... Industry Honors Retiring Chatfield ROME, Italy-To mark the pending retirement of CEO and long-time credit union veteran Dave Chatfield, the Calfornia/Nevada CU League has announced the formation of the David L. Chatfield International...

Handouts, Hands Up, And A Hand To A Man In A River.
August 1, 2005... A few weeks ago I received a prospectus/information pack/mini-telephone book from a mutual fund in which I have some money. I'd be clearer about what exactly the document was, but I didn't take the time to read it. It was bulky and packed with...

Robber Uses Live Explosive To Hold Up Colo. CU.
August 1, 2005... COLORADO SPRINGS, Colo. -- This time the bomb was real. It was just another Friday morning until a man wearing a backpack walked into the Fitters Local 58 Federal Credit Union. The man took a device out of the backpack and placed it on the...

SESLOC Creates Financial DVD For College Students.
August 1, 2005... SAN LUIS OBISPO, Calif. -- Too many distractions and not enough real information about managing your money. That's what faces incoming freshmen at every college and university across America, according to one credit union. In addition to...

Product & Service.
August 1, 2005... Royal Oak Sells Portfolio ROYAL OAK, Mich.-Royal Oakland Community CU is selling its credit card portfolio to InfiCorp. The $124-million ROCCU has approximately 4,000 credit card accounts and $7 million in receivables among its 20,000...

Death & Taxes?: Advocates From Around The Globe Debate The Fate Of CUs In The Face of Taxation.
August 1, 2005... ROME, Italy -- American credit unions aren't alone in having strong views on their tax exemption. But while the passion is shared, credit unions outside the U.S. don't all share a view that a tax exemption is deserved-or needed. At the...

Contradictions Abound On Secondary Market Bill.
August 1, 2005... WASHINGTON -- A casual observer of politics may have thought the Democrats were controlling the congressional committees and therefore, drafting legislation to regulate the secondary mortgage markets. Afterall, the bill introduced by...

People.
August 1, 2005... IU Credit Union,Bloomington, Ind., announced that Ingo Fischer received a State of Indiana insurance license. John Deere Community Credit Union, Waterloo, Iowa, elected to its board: David R. Schultz, chairman; Creston L. Van Wey, chief...

Victims May Never Resolve ID Theft.(Brief Article)
August 1, 2005... COLUMBUS, Ohio -- Victims of identity theft spend an average of 81 hours trying to resolve their cases, while many victims have been unable to restore their legal identities, even after a year of trying, according to a new survey released by...

Sallie Mae Averts SEC Sanctions.(Securities and Exchange Commission)(Brief Article)
August 1, 2005... RESTON, Va. -- Student loan giant Sallie Mae said it fired the chief financial officer of one of its collection subsidiaries, demoted another manager in the unit, and denied bonuses to the subsidiary's top managers for inflating revenue in an...

Countrywide Slumps On Set-Asides.(Brief Article)
August 1, 2005... CALABASAS, Calif. -- The ongoing refinancing boom continued to wreak havoc on Countrywide Financial Corp., which reported a 28% drop in second-quarter earnings, to $566 million, or 92 cents a share, compared to the same quarter last year, due...

S1 Corp. Fires CEO.(Brief Article)
August 1, 2005... ATLANTA -- Online banking software vendor S1 Corp. said it terminated its CEO Jaime Ellertson, and brought back company co-founder and chairman James Chip Mahan as chief executive officer to head the firm amid flat sales growth. Revenue...

Desert Schools FCU Feeds Hungry.(federal credit union)(Brief Article)
August 1, 2005... PHOENIX -- Desert Schools FCU helped collect food and cash donations to provide 9,000 meals to needy Arizona families. During its Hunger Awareness Food Drive, employees and members collected 8,181 pounds of food items and enough cash to buy...

Survey Shows Consumers Prefer PIN To Signature.(Personal Identification Number)
August 1, 2005... DENVER -- The STAR Consumer Payments Usage Study found card users prefer PIN-based transactions to signature-based, another indicator that debit transactions are starting to win out over the more traditional signature credit model. The...

CU Credit Card Portfolios Require Constant Care To Be Competitive.
August 1, 2005... LAS VEGAS -- As the already-competitive credit card arena continues to heat up even more, credit unions are looking for ways to make their card portfolios profitable-or get out of the business. Billions of credit card offers are flooding...

The Great Credit Card Debate: Should My CU Buy In Or Sell Out?
August 1, 2005... Quite a lot has been written lately about credit unions selling their credit card portfolios. Reactions range from "never in a million years" to "makes perfect sense to me." The intensity of the different viewpoints about this became...

Why CUs Just Can't Afford To Settle For 'Good'.
August 1, 2005... LAS VEGAS -- Credit unions should never be satisfied with good, according to Jim Collins, author of "Good to Great: Why Some Companies Make the Leap...And Others Don't." Easily one of the most dynamic speakers at NAFCU's 38th Annual...

Regulatory Reform, Bank Secrety Act Lead Agenda.
August 1, 2005... LAS VEGAS -- Though NCUA JoAnn Johnson kicked off her remarks with defense of the agency's refusal to approve the membership votes of two Texas credit unions seeking to convert to banks (CU Journal July 25), she also took the opportunity to...

What Happens In Vegas...: Johnson, Barreto Team Up.(JoAnn Johnson)(Hector Barreto)(Brief Article)
August 1, 2005... LAS VEGAS -- Only in Vegas would credit unions get such a two-for-one deal. NCUA Chairman JoAnn Johnson was discussing the agency's efforts to make it easier for credit unions to engage in member business loans and referred to how CUs can...

How To Keep CU Volunteers From Going The Way Of The Typewriter.
August 1, 2005... LAS VEGAS -- Credit unions must act now to ensure that volunteer boards of directors don't go the way of carbon paper and vinyl records, according to David Gilbert, chairman of Aberdeen Proving Ground FCU and sole volunteer currently serving on...

CUs Mine Sarbanes-Oxley For Best Practices.
August 1, 2005... LAS VEGAS -- If credit unions legally don't have to comply with the Sarbanes-Oxley Act, why was it standing room only at the session on SOX compliance at NAFCU's annual meeting? "If you're here in Vegas on a Thursday afternoon to learn...

Qubein Wows The Crowd.
August 1, 2005... The Sexy Side of Payday Loans LAS VEGAS-During a payday lending panel at the Defense CU Council Summit at with NAFCU's annual meeting, retired Arkansas FCU CEO Hank Klein likened payday lending to sex education. "It's just like sex...

CUs Explore The Pros And Cons of Indirect Lending.
August 1, 2005... LAS VEGAS, Nev. -- Indirect automobile lending can help build loan volume, bring in new members and keep current members happy. On the other hand, it is not for every credit union due to its challenges, complexity and need for vigilant...

Matz Tells CUs You Got To Know When To Hold 'Em, When To Fold 'Em.(Debbie Matz )
August 1, 2005... LAS VEGAS, Nev. -- NCUA Board Member Debbie Matz told delegates at NAFCU's annual convention here she is "extremely proud" of the work CUs have done, but urged them to do more to combat threats to the movement. Matz, whose term expires...

EFT Industry In Volatile State Of Flux, But Opportunities Exist, Expert Says.(electronic funds transfer)
August 1, 2005... LAS VEGAS -- The electronic funds transfer industry is in such a state of flux, one expert at NAFCU's annual convention introduced his session with a quote from ancient Greek philosopher Heraclitus: "Nothing endures but change." Michael...

Community Page.
August 1, 2005... SLPCU Participates In Links Of Love Georgia FCU, Duluth, Ga., awarded Sara Mullinax a $1,000 Vernon E. Carne Scholarship. T&C Sponsors Hunger Walk BLOOMFIELD HILLS, Mich.-T&C Federal Credit Union participated in several charitable...

The Conched Republic: Key West's Sky-High Home Prices Are Hurting One Credit Union & Its Employees.
August 8, 2005... KEY WEST, Fla. -- There's trouble in paradise-primarily the fact that no one can afford to live there any more. Property values throughout South Florida have boomed, but here in Key West, they've gone supernova, according to John...

Trade Groups File Brief Supporting NCUA Decision.(National Credit Union Administration )
August 8, 2005... WASHINGTON -- CUNA and NAFCU have filed an amicus brief with the court in support of NCUA as part of the lawsuit filed against the agency by a Texas credit union seeking to convert to a mutual savings bank charter. The $1.4-billion...

TX CU Commission To Hold Hearing On Conversion Rules.(Texas credit union)
August 8, 2005... AUSTIN, Texas -- The ongoing controversy regarding the attempts by two Texas credit union giants to convert to mutual savings banks has prompted a potential rewrite of the state rules on the charter switches. The Texas CU Commission has...

Ongoing Technology Problems Cited As Kampen Resigns At U.S. Central.(Dan Kampen resigns from U.S. Central Credit Union)
August 8, 2005... LENEXA, Kan. -- Dan Kampen has resigned as president of the $40-billion U.S. Central Credit Union. U.S. Central declined to provide a reason for the departure, but two sources said the reasons were not financial, as the corporates'...

On Deadline.(case filed against Diebold Inc.)(First Tech Credit Union treated Washington area residents to free movies)(John H. Harland Co. declares its net income)
August 8, 2005... Suit Against Diebold By Servicers Dismissed SAN FRANCISCO-A federal court here last week dismissed a suit brought by the nation's ATM servicers against Diebold Inc., claiming the ATM maker controlled the market for ATM upgrades,...

CUNA Board Seats Are Filled.(Credit Union National Association)(Brief Article)
August 8, 2005... MADISON, Wis. -- CUNA has announced winners of its recent board elections. In District 1, Class B, John A. Prumo, CEO of GPO FCU, New Hartford, N.Y., won a seat over Joseph Poerio, board member of Suffolk FCU, Medford, N.Y. In District 4, Class...

Judge Removes ASI As Manager.(American Share Insurance)(Brief Article)
August 8, 2005... CLEVELAND -- A judge has ruled the Ohio Department of Commerce must remove American Share Insurance as the manager at United Telephone CU in Rocky River. As deposit insurer at the CU, ASI took over United Telephone after state regulators...

Calif. State CUs Can Offer HSAs.(credit unions)(health savings accounts)(Brief Article)
August 8, 2005... SACRAMENTO, Calif. -- Gov. Arnold Schwarzenegger has signed into law legislation allowing state-chartered credit unions to offer health savings accounts to members. "League members worked hard to lobby for the bill, especially during this...

Pepper Spray Used On Tellers.(robbery at Heritage Credit Union)(Brief Article)
August 8, 2005... UPPER STEWIACKE, Nova Scotia -- A man wearing a mask sprayed pepper spray at tellers before pushing them into a vault during a robbery at Heritage Credit Union here. Police said the man made off with a "substantial" amount of money. The...

Georgia, Polish CUs Celebrate.(credit unions)(Brief Article)
August 8, 2005... KRAKOW, Poland -- Seventeen representatives from eight Georgia credit unions and the Georgia Credit Union Affiliates (GCUA) recently participated in the 10th Anniversary Celebration of the People to People Partnership here. Georgia's CU reps...

Constitution State Now Federal.(Constitution State Corporate Credit Union, Inc.)(Brief Article)
August 8, 2005... WALLINGFORD, Conn. -- Constitution State Corporate Credit Union, Inc. said its members have approved a change to a federal charter, with 96% of voting members favoring the plan. "A federal charter will enable Constitution to expand...

'Equality' Next Task As Md., DC Leagues OK Merger.(Washington, D.C.)(Maryland)
August 8, 2005... WASHINGTON -- With the merger of the D.C. and Maryland leagues approved by both regions, one of the first challenges facing the new Maryland and D.C. Credit Union Association will be to make sure both areas are considered equal partners in the...

Youth Outreach Council Created in Maryland.(Maryland Credit Union League)(Maryland Credit Union Foundation)(Brief Article)
August 8, 2005... COLUMBIA, Md. -- The Maryland Credit Union League and the Maryland Credit Union Foundation along with a number of credit unions in the state have created the Youth Outreach Council. Credit union representatives interested in youth activities...

Lending Is Up, But Trails Pace Set During 2004.(Brief Article)
August 8, 2005... MADISON, Wis. -- At the end of June loans among credit unions were up 10% over one year earlier, cresting at $449.1 billion. Lending during June was up up 1.4% over one month earlier and had grown 4.8% so far this year, according to CUNA,...

Worth Noting.(Assets For Independence training sessions by Department of Health and Human Services)(John J. McKechnie and Richard Gose of Credit Union National Association are promoted)(veteran of credit unions Max Stoll, dies)(Brief Article)(Obituary)
August 8, 2005... CUs Urged To Attend Sessions ALEXANDRIA, Va.-NCUA Chair JoAnn Johnson is urging credit unions serving low-income communities to attend one of the Assets For Independence training sessions the U.S. Department of Health and Human Services is...

Early Impressions Of, & A Tough Question For WOCCU.(World Council of Credit Unions)
August 8, 2005... Thirty-six days is a mighty short time to assess an organization that literally spans the globe, but I asked Pete Crear to do it anyway. Perhaps it was fitting since all roads are supposed to lead to Rome (where they merge into a spaghetti...

Rising Home Prices Leads To New Equity Product.(Desert Schools Federal Credit Union)
August 8, 2005... PHOENIX -- With real estate prices climbing rapidly here, Desert Schools FCU has introduced a new product designed to let its members tap the equity in their homes for investment capital. In June, the $2.3-billion credit union launched its...

Pennsylvania CUs Plan Large-Scale Media Campaign.(credit unions)(Brief Article)
August 8, 2005... HARRISBURG, Penn. -- Pennsylvania's credit unions have chosen the theme for the 2005 Statewide Network of Advertising in Pennsylvania (SNAP) billboards. The theme, "Credit Unions- Building Strong Communities by Investing in You," is supported...

Product & Service.(Volunteer Corporate Credit Union)(Credit Union Newsletters)(People's Trust FCU)(PSCU Financial Services)
August 8, 2005... Out-Of-Staters Selecting VolCorp NASHVILLE, Tenn.-Volunteer Corporate Credit Union (VolCorp) said more out-of-state credit unions are taking notice of its item processing services. The most recent to move to VolCorp was Fedmont FCU,...

National CU Foundation Piloting Online Auction As Way To Raise Funds.(National Credit Union Foundation)
August 8, 2005... ROME -- The National Credit Union Foundation has launched a pilot online auction as a means of raising funds and engaging more individuals in its activities. The online auction, which can be accessed from the NCUF's site at www.ncuf.coop,...

Illinois' Small CUs Jump On PC Offer.(Illinois Credit Union League Service Corp)(Brief Article)
August 8, 2005... NAPERVILLE, Ill. -- The Illinois Credit Union League is donating 35 computers-replaced as part of an internal upgrade-to member credit unions with assets of $10 million or less. Each comes complete with "considerable life,'' a 17-inch...

Tie-In To Infamous Bank Robber Boosts Minn. CU.(credit union)(Minnesota)
August 8, 2005... NORTHFIELD, Minn. -- A credit union looking to get some attention for a new branch in a small town with ties to Jesse James has created a unique marketing campaign that enhances an already popular annual event, "The Defeat of Jesse James Days."...

Wash. CUs Plan TV Ad Campaign, Including Super Bowl.(Washington)(credit unions)
August 8, 2005... FEDERAL WAY, Wash. -- Armed with more than $500,000 in voluntary contributions, credit unions here in the Evergreen State are planning to expand their TV advertising campaign. Jamie Chase, the Washington league's director of public...

Product & Service.(partnerships, contracts)
August 8, 2005... Summit CU Selects Bluepoint VISTA, Calif.-Bluepoint Solutions, a provider of document management solutions for credit unions, announced that Summit Credit Union is now live with the company's document management system. Based in...

Study Examines Purchasing Decision-Drivers Among The Affluent.
August 8, 2005... PURCHASE, N.Y. -- A new report examining the factors that shape purchasing decisions among mass-affluent households, those earning more than $100,000 annually, has been released. MasterCard International said it sponsored the study in...

Texas League, Jamaican CU League To Partner.(credit union)(Texas Credit Union League )(Jamaica Co-operative Credit Union League Ltd.)(Brief Article)
August 8, 2005... DALLAS -- The Texas Credit Union League and the Jamaica Co-operative Credit Union League Ltd. have formed a partnership to foster an international exchange of education and expertise. The partnership follows relationships between many credit...

Absence of Risk-Based Capital Is Disappointing.
August 8, 2005... WASHINGTON -- Despite public comments to the contrary, there is no denying that the credit union lobby was mighty disappointed when Congress introduced a regulatory relief bill just before the August recess and the bill did not include a...

NY CUs Likely To Now Re-Enter Auto Leasing.(New York)(credit unions)(Brief Article)
August 8, 2005... NEW YORK -- Credit unions, banks and automakers in the Empire State are expected to jump back into the auto leasing market as a result of a provision of the federal highway transportation bill passed last week that bans the state's vicarious...

People.(appointment of Richard Buckner in South Carolina Federal Credit Union, Bill Hernandez in First Data Corp., and Marilyn Foody in Stewart Mortgage Information)
August 8, 2005... South Carolina FCU, Charleston, S.C., elected Richard Buckner chairman of the board. South Division Credit Union, Evergreen Park, Ill., announced that Geraldine Burek was named executive of the year by CUES. U of C Federal Credit...

3 Continents, 3 Viewpoints: Leaders From Ireland, Australia & The U.S. Debate CU Issues.(Panel Discussion)
August 8, 2005... ROME -- At no gathering of credit unions is the issue of credit union "values" discussed, debated and disagreed over more than when the World Council of Credit Unions hosts an event. That was the case when WOCCU held its World Conference at...

Poland Marries Co-op Bank Model, CU Mission.
August 8, 2005... ROME -- There are few greater success stories in credit union development than that of Poland, which, in the short 15 years since the fall of the communist government and development of credit union enabling legislation, has grown to serve 1.5...

Brazilian Network Shares Signage, Design.(Brief Article)
August 8, 2005... ROME -- It may surprise many to learn that the credit union movement in Brazil actually precedes that of the U.S. The first CU in the giant South American country was chartered in 1902 and based on the same German Raiffeissen model that was...

How Central, South American CUs Are Leveraging Networks.(credit unions)
August 8, 2005... ROME -- Credit unions may be cooperatives, but they don't always cooperate. Three representatives of non-U.S. credit union communities, however, shared examples of where cooperation among credit unions in three respective countries has...

HVFCU Forms Cost-Control Committee.(Hudson Valley Federal Credit Union)
August 8, 2005... ORLANDO, Fla. -- The latest initiative at the $1.9-billion Hudson Valley FCU in Poughkeepsie, N.Y., is the creation of a cost-control committee, in which it is looking to draw upon the insights of front-line staff and others below the senior...

'Examiners To Focus More On ALM'.(asset liability management )
August 8, 2005... ORLANDO, Fla. -- What lies ahead in "examinerland?" Bill Goedken, whose company, Profitstar, has approximately 625 credit union clients, said he was recently called into NCUA's offices to discuss numerous issues related to financial...

How 1 CU Has Relieved Presure.(Coastal Federal Credit Union)(Brief Article)
August 8, 2005... ORLANDO -- Loan volume has been strong at the $1.5-billion Coastal FCU in Raleigh, N.C., where the loan-to-share ratio is a healthy 97.6%. Operating with an ROA of .98 and a net worth of 11.5%, the credit union has helped boost the bottom...

The Credit Union Journal Accepting Nominations For Best Practices Among CUs.
August 8, 2005... WEST PALM BEACH, Fla. -- The most admired "Best Practices" typically aren't born that way. They begin as ideas, are implemented, and then evolve as lessons are learned, new ideas added, and revisions made. Case in point is The Credit Union...

The Road To Rome: The Interesting, The Intriguing & The Odd From Gathering Of World's CUs.(credit unions)
August 8, 2005... ROME -- Bon journo. Below is a look at just what in the world was going on when credit unions from around the Earth met here for a conference. The World CU Statistics The World Council of Credit Unions' held its first-ever (at least...

Community Page.
August 8, 2005... PAFCU Receives Matching Grant Pen Air FCU, Pensacola, Fla., received a $1,500 matching grant from the Armed Forces Financial Network to go towards the Navy Marine Corps Relief Society. AACFCU Finances Loans At Car Sale Army...

NASCUS Notes Concerns Over NCUA Plan...(National Association of State Credit Union Supervisors)(National Credit Union Administration)(Brief Article)
August 8, 2005... ARLINGTON, Va. -- When it comes to the sales of nondeposit investment products, NASCUS has told NCUA it has concerns a new proposal is overly broad. The comments follow NCUA's proposed Interpretive Ruling and Policy Statement (IRPS) No. 05-1,...

...Publishes White Paper On Models For Alt. Capital.(National Association of State Credit Union Supervisors)(Brief Article)
August 8, 2005... ARLINGTON, Va. -- The NASCUS Alternative Capital Task Force has distributed a white paper that presents both equity and debt models for alternative capital. The alternative capital instruments discussed in the paper are designed...

A Man Walks In To A Branch With A Pitchfork-But It's Not A Joke.(Brief Article)
August 8, 2005... KEY WEST, Fla. -- It sounds like one of those "News of the Weird" pieces you read for fun, but when one teller was confronted with a pitchfork-wielding robber, it was no laughing matter. Fred Simunovic was arrested just days after he...

Park Community, B&W FCU Plan Merger.(B and W Federal Credit Union)(Brief Article)
August 8, 2005... LOUISVILLE, Ky. -- Park Community FCU and B&W FCU here have announced plans to merge. If approved by NCUA and B&W's members, it will create a $336-million credit union with Park Community as the surviving name. Jim Oliva, who took over as CEO...

Shell Employees FCU Now People's Trust.(Shell Employees of New Orleans Credit Union)(Brief Article)
August 8, 2005... HOUSTON -- Shell Employees FCU has changed its name to People's Trust FCU to reflect its conversion to community charter. Since being founded in 1935 it has grown to e $300-million in assets and serves 29,000. (c) 2005 The Credit Union...

Account Targets Non-Profit Groups.(Brief Article)
August 8, 2005... ORLANDO, Fla. -- Insight Financial Credit Union has introduced a business checking account aimed at serving non-profit organizations in its four-county FOM, in addition to a new Business Checking Account aimed at local businesses. Both...

On Deadline.(Brief Article)
August 15, 2005... Employee Charged In Counterfeiting Ring BATON ROUGE, La.-A former employee at BRECO FCU was charged with stealing the credit union's computer disks and using the enclosed member information to facilitate a counterfeit check ring that stole...

More Pay To Take Home: CUES: Boards Should Prepare For Salary Increases.(Credit Union Executive Society)
August 15, 2005... MADISON, Wis. -- New analysis shows credit union executives are seeing pay increases far above the inflation rate. And one analyst is cautioning that credit union boards need to be prepared to pay even more to retain and recruit executive-level...

The Anti-Fraud Squads: At CU Journal Roundtable, IT Execs Talk Strategy.
August 15, 2005... WEST PALM BEACH, Fla. -- As phishers lick their chops over credit unions, four CIOs and anti-phishing vendor Cyota sat down last week to survey the e-mail fraud landscape for The Credit Union Journal. Cyota's FraudAction anti-phishing and...

CUs Begin To Push Up Deposit Rates.
August 15, 2005... WASHINGTON -- Credit unions are starting to surrender some of their resistance to raising their savings rates as the Federal Reserve continues to push short-term rates higher. That resistance, according to industry observers, has allowed...

Rate On 1-Yr. CD At Mich. CU? 10%!(Brief Article)
August 15, 2005... AUBURN HILLS, Mich. -- It's not a typo. Cornerstone Community Financial (CU) here is offering a not-seen-in-a-long-time 10% interest on a one-year CD for qualifying members, more than double the national average of 4.30% on the account. ...

Would-Be Converts Have IT Glitches.
August 15, 2005... PLANO, Texas -- Two credit unions in the national news because they are seeking to convert to mutual savings bank charters got local headlines last week after experiencing near simultaneous IT problems that denied members access to accounts in...