Credit Union Journal articles from August 2006

Credit Union Journal archives from August 2006

Dollar Faces Off Against ABA's Simmons In Vegas Debate.(American Bankers Association )
August 7, 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...

Card-Carrying Boilermaker: CU Beats Out MBNA For Affinity Card.(credit unions)
August 7, 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...

No TLC For ILCs?: CUs Backing Out Of Credit Card Banks.(rules for credit unions)
August 7, 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...

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)
August 7, 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...

Execs See Biggest Payhike Since 2002, CUES Says.(chief executive officers)
August 7, 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...

On Deadline.(National Credit Union Foundation)(Brief article)
August 7, 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their core processing systems over the next three years-an estimated 1,100 institutions-as existing systems become outdated, inefficient or costly to...

CUJournal.com, WesCorp Team For New Feature.
August 7, 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 launch a video message....

Wash. Supreme Court OKs CUs, Trusts.(Washington)(okay)(Credit Union)
August 7, 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...

Purcell, League Lobbyist, Killed In Accident.(obituary)(Obituary)(Brief article)
August 7, 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....

Report On Margin Squeeze Now Available For Download, Board Packets.(Brief article)
August 7, 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...

Worth Noting.(appointments and resignations)(Brief article)
August 7, 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...

Butterflies-Lovely To Look At, But Watch Those Wings.(rules for credit unions)
August 7, 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...

Hoel Turns Filene Reins Over To Meyer, Will Stay On As Research Fellow.(Bob Hoel)(Mark Meyer)(Brief article)
August 7, 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...

Cornerstone Report Includes 20 CU Participants For 2006.(credit unions)(Brief article)
August 7, 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...

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)
August 7, 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...

Research: A 5-Step Model To Creating Actionable, Useable Research.
August 7, 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...

Letter To The Editor: CUNA's Approach Toward Bankers On Capitol Hill Is Right On.(Letter to the editor)
August 7, 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...

Best Practices Deadline Near; It's Easy To Enter.
August 7, 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...

CMG Breaks Ground On Customer Ops Center.(CUNA Mutual Group)(Brief article)
August 7, 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...

CU-Turned-Bank Plans Public Stock Offering.
August 7, 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...

Three Cal. Board Members Survive Recall Effort.(California)(Sun Community Federal Credit Union)
August 7, 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...

DFCU Financial Members Offered Access To Documents-If They Keep It Confidential.
August 7, 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...

Columbia CU Delays Its Annual Meeting.(credit unions)(Brief article)
August 7, 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...

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)
August 7, 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...

CUNA Steps Into Fray In Congressional Primaries.(Credit Union National Association)
August 7, 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...

'Going Negative' Bears Results For CU Lobby.(credit unions)(Brief article)
August 7, 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...

NCUA Figure Added To Housing Finance Board.(Geoff Bacino to the Federal Housing Finance Board)(Brief article)
August 7, 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...

Agency Denies Another CU Conversion Bid.(Credit Union)(Sunshine State Federal Credit Union to be converted as savings bank application not approved)(Brief article)
August 7, 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...

People.(new appointments)
August 7, 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...

Mobile ATM For Emergencies.(Automated Teller Machine )(Brief article)
August 7, 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...

CUs' Role In Disaster Relief Explored.
August 7, 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...

Horse Thieves Sentenced For Heist.(Brief article)
August 7, 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...

Kansas CUs Support Charities.(credit unions)(Brief article)
August 7, 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....

DCU For Kids Ups Ante In Fundraiser.(credit unions)(Brief article)
August 7, 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...

Area Youth See CU Benefits.(credit union services)(Brief article)
August 7, 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 of the MCU...

Feds Chase ID Theft Scheme.(management of credit union )(Brief article)
August 7, 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...

Hey, Big Spender!: New Reality TV Show Tackles Americans' Penchant For Living Beyond Their Means.(analysis of television programs)(Brief article)
August 7, 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...

One Way To Bring In New Business Accounts: Purchase Them.
August 7, 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'...

Product & Service.(Ultradata Systems Inc partnerships with Strunk and Associates )(iPay Technologies Launches Expedited Bill Pay)(EasCorp partnershipspartnerships with MEMBERS Trust Co)
August 7, 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....

Ent, University Create All-In-One Campus Card.(Ent Federal Credit Union contracts)
August 7, 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...

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)
August 7, 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...

Branding Challenge: Welcome New FOM, Don't Alienate Old.(field of membership )
August 7, 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...

Alabama Governor Joins MAX During Tour Of CU's Facility.(new appointment of Bob Riley )(Brief article)
August 7, 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...

Disaster Workshop Planned.(Credit Union Development Workshops on disaster recovery planning)(Brief article)
August 7, 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.,...

Product & Service.
August 7, 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...

Notes From WOCCU's World Credit Union Conference In Ireland.(Conference notes)
August 7, 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...

Root (Canal) Of An Idea: Michigan's Affinity Group CU Finds A Niche With Dentists.(Credit Unions)
August 7, 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...

Gulf Data Systems To Become CU*South, Offer Shares.(Gross Debt Service)(Credit unions)
August 7, 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...

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)
August 7, 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...

FAQs about Changes At www.cujournal.com.(technology applications)
August 7, 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...

MCUA Joins With REAL Solutions.(Missouri Credit Union Association)(Brief article)
August 7, 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,...

NCUA Takes Over Philadelphia CU.(National Credit Union Administration)(credit unions)(Brief article)
August 7, 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 serves approximately...

CUNA Efforts In Primary Races Experience Major Setback.(television advertising)
August 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...

A Wake-Up Call To ARMs: Will CUs Reap Rewards As Consumers Flee To Safety?(adjustable rate mortgages)(credit unions)
August 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...

CMG Seeks Crop Of Growth Opportunities.(CUNA Mutual Group)
August 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...

Experts Counsel CUs To Offer Counseling.(Prevention and Consumer Protection Act of 2005)
August 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...

Hyland Tells IT Pros To Focus On Their Members, Not Regs.(information technology)
August 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. ...

On Deadline.(Brief article)
August 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...

CRI Launches New CRI Systems.(Creditor Resources Inc launched a new technology subsidiary )(Brief article)
August 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...

Truliant Animated About Campaign.(Truliant Federal Credit Union)(Brief article)
August 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...

CACU Contracts For Image Solution.(contracts)(CommunityAmerica Credit Union)(Brief article)
August 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...

CMG Adds Pitney Bowes Services.(CUNA Mutual Group)(Brief article)
August 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...

Earnings Slide At eFunds.
August 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...

S1 Falls Into The Red.(S1 Corp. sales data)(Brief article)
August 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...

Filene Expands i3 Group.(Filene Research Institute)(Center for Credit Union Innovation)(i3 group)(Brief article)
August 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. ...

DM FCU is now Vantage West Credit Union.(DM Federal Credit Union changes its name to Vantage West Credit Union)(Brief article)
August 14, 2006... TUCSON, Ariz. -- DM Federal Credit Union has changed its name to Vantage West Credit Union, after converting to a state charter with a community field of membership. The new charter allows the credit union to serve anyone who lives, works,...

AQs about Changes at www.cujournal.com.
August 14, 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...

Worth Noting.(Fast Co.'s Bill Taylor will present Mavericks)(Continental Federal Credit Union appointed Tom Glatt)(Xerox Federal Credit Union appointed Teresa Y. Freeborn)(National Credit Union Foundation's Social Impact Conference )(Brief article)
August 14, 2006... Taylor to Keynote CUES Meeting MADISON, Wis.-Bill Taylor, founding editor, Fast Company, Boston, will present Mavericks at Work-The New Business Agenda, at the Credit Union Executives Society's CEO Network, to be held November 12 to 15, at...

One Volunteer Volunteers Advice On Getting Volunteers.(number of volunteers they use)
August 14, 2006... Plenty of credit unions are looking for good volunteers for board and committee positions or at least say they are. But one volunteer says "good" just doesn't cut it. And that's not all. While many credit unions have pared the number of...

Nationwide Is On Whose Side?: Why Did The Number Of Deposit Balances Of $100K-Plus Grow So?(Nationwide Federal Credit Union)
August 14, 2006... Credit unions are member-owned cooperatives with equality of membership, ownership, and voting rights as our fundamental democratic and philosophical hallmarks. We understand fairness; we play it straight; we look after our members' best...

Product & Service.(services of Cuna Mutual Group)(credit unions contracts)(service introduction of Baker Hill Corp.)
August 14, 2006... 5 CUs Choose CUNA Mutual Group MADISON, Wis.-Five credit unions that did more than $200 million in vehicle loans in 2005, recently chose CUNA Mutual Group's Collateral Protection Insurance (CPI) to help mitigate the risks of loss from...

Complying With BSA Need Not Be A Secret: An AML Program Is A Challenge, But There Are Steps That Can Make It Easier.(Bank Secrecy Act)
August 14, 2006... The Bank Secrecy Act/Customer Identification Program (BSA/CIP) requires a risk assessment of each member account. While we can define these requirements, actually implementing the necessary processes in you anti-money laundering (AML) efforts...

Beware Of MBL Potential Pitfalls.(member business loans)(acquisition-development-construction)
August 14, 2006... A few weeks ago I was visiting with the Chief State Examiner in Minnesota, Terry Meyer, and we got on the topic of member business loans. While I have worked in the credit union industry for the past seven years, I previously worked with other...

T-Shirts Stir Up Local Political Controversy.
August 14, 2006... GLADWIN, Mich. -- Despite the protests of one longtime member whose husband is running for Circuit Judge here, Central Michigan Community Credit Union employees did nothing wrong by wearing political T-shirts that supported one of his...

How One CU Is Helping Staff Make Downpayments.(credit unions)
August 14, 2006... ESTES PARK, Co. -- Amid escalating home prices, Boulder Valley Credit Union has added a new employee benefit that provides down payment assistance of up to $10,000, all of which can be forgiven after five years. The Employee Assisted...

New Conversion Rule Attracts Little Interest.(rules of National Credit Union Administration)
August 14, 2006... ALEXANDRIA, Va. -- Six weeks into the two-month comment period, credit unions have exhibited very little interest in NCUA's proposed new rules on conversions to mutual savings banks, the third rewrite of the rules over the past three years. ...

People.(appointments)
August 14, 2006... Royal Credit Union, Eau Claire, Wis., elected to its board: John Sackett, chairman; Richard Greene, vice chairman; Doug Olson, treasurer; Jennifer McDonough, secretary; Susan Haugen, Nancy Beltz and Bill Blackburn. CFE Federal Credit...

NIFCU Offers NFL Kick-Off Dream.(North Island Financial)(Brief article)
August 14, 2006... SAN DIEGO -- A lucky young fan of the NFL Chargers will be chosen by North Island Financial CU to be on the field and be responsible for retrieving the kicking tee after every kick-off during the football team's home games this year. The...

Fed Halts String of Rate Hikes.(Brief article)
August 14, 2006... WASHINGTON -- The Federal Reserve last week halted a more than two-year string of interest-rate rises, holding its benchmark rate steady while it gauges whether a slowing economy will keep inflation in check. If inflation risks persist, the Fed...

Cardinal CU In 4th Merger Of Year.(Cardinal Credit Union approved its bid to acquire Hillcrest Community Credit Union)(Brief article)
August 14, 2006... MENTOR, Ohio -- Cardinal CU said state regulators approved its bid to acquire Hillcrest Community CU, the credit union's fourth merger in the past year. The four mergers-including Lighthouse Community CU, Western Reserve CU and Reliance...

MCU Offers Gen Y Card, Advice.(MCU Financial Center Credit Union)(Brief article)
August 14, 2006... RACINE, Wis. -- MCU Financial Center has introduced a program to teach its so-called Generation Y members, those between 18 and 24 years old, how to use credit, which includes a translucent credit card and one-on-one instruction on how to use...

Dover FCU Acquires New HQ.
August 14, 2006... WILMINGTON, Del. -- Dover CU announced it has acquired a 20,000 square-foot building here where it plans to build a new headquarters. The building formerly served as a call center for credit card bank MBNA, which was acquired last year by Bank...

SEC Is Investigating Diebold.(United States Securities and Exchange Commission)(Brief article)
August 14, 2006... NORTH CANTON, Ohio -- Diebold Inc., which has been struggling with falling profitability the past two years, reported that the Securities and Exchange Commission has launched a formal investigation into how the ATM maker recognizes revenues....

Low-Income Mortgage Program Gains Recognition.(Federal National Mortgage Association awarded CU Members Mortgage)
August 14, 2006... SEATTLE, Wash. -- CU Members Mortgage, the Fort Worth, Texas mortgage services provider was honored here recently by Fannie Mae during the Prime Alliance Symposium, earning the CUSO of the Year Award. Given for excellence in mortgage...