Credit Union Journal articles from August 2007

Credit Union Journal archives from August 2007

Kinecta FCU Buys 55 Check Cashing Outlets.(Kinecta Federal Credit Union)
August 6, 2007... MANHATTAN BEACH, Calif. -- Kinecta FCU became the latest credit union to make a major incursion into check cashing with the acquisition of a family owned check-cashing chain in the Los Angeles area last week. The CU bought Navicert...

A Growth Expedition: How One CU Explored Its Opportunities.(Lewis Clark Credit Unions)(Statistical table)
August 6, 2007... LEWISTON, Idaho -- Valerie Guenther began working at Lewis Clark CU in 1978 as the manager's assistant when the credit union claimed less than $1 million in assets and was operating out of the manager's garage. Today, Guenther is CEO of...

Bringing Up Savings: Proposal Would Create Federally Subsidized Child Savings Accounts.
August 6, 2007... WASHINGTON -- In a bid to spur the dwindling American savings rate, the non-partisan Aspen Institute proposed a child savings account last week with which the federal government would provide a $500 certificate to participating newborns that...

Everyday Low Prices?: Wal-Mart Unveils Pricing On Card, Some Say Fees Are Higher Than Elsewhere.(Wal-Mart Stores Inc.)
August 6, 2007... BENTONVILLE, Ark. -- Wal-Mart has provided one early glimpse into how it will price products as it aggressively expands to offer financial services. At least one analysis of the pricing of that product, by CUNA, suggests users will be...

On Deadline.(Fiserv Inc. acquired CheckFree Corp.)(Brief article)
August 6, 2007... Fiserv To Acquire CheckFree For $4.4B BROOKFIELD, Wis.-Credit union outsourcer Fiserv announced it has agreed to acquire electronic payments giant CheckFree Corp. in an all-cash deal for $48 a share, or $4.4 billion. The deal will...

Northeast Community CU Plans To Merge With Haverhill Bank.
August 6, 2007... HAVERHILL, Mass. -- Northeast Community Credit Union will convert to a bank in order to merge with Haverhill Bank. Peter DiBenedetto, Northeast Community Credit Union treasurer and CEO, will serve as president and chief operating officer;...

Senior Lobbyist Sagar Resigns At CUNA.
August 6, 2007... WASHINGTON -- CUNA's senior lobbyist Dean Sagar, who helped draft the landmark 1998 credit union bill, HR 1151, abruptly resigned last week after a brief, but checkered tenure with the trade association. In a prepared statement, CUNA...

'Banker's' Antics Put Focus On CURIA.(Credit Union National Association)(Brief article)
August 6, 2007... In the days leading up to Congress' August recess, CUNA drew attention to the Credit Union Regulatory Improvement Act by putting actor Wes Johnson, playing a "banker" on the streets of Capitol Hill. In addition to grumbling about CUs live on...

Payday Loan Banned In Penn.(Brief article)
August 6, 2007... HARRISBURG, Penn. -- A Pennsylvania court has ruled that Advance America, the largest payday lender in the U.S., cannot offer its "Choice Line of Credit" to consumers in this state. The court ruled that the product, which allows customers...

STATE STAT-SHOT.(reports of credit unions)(Statistical table)(Brief article)
August 6, 2007... Throughout 2007, the Credit Union Journal is profiling the credit unions of each U.S. state and D.C. Rather than appear in alphabetical order, the states are being featured in the order they became states. CALIFORNIA Number of credit...

Worth Noting.(laws and rules of State-chartered credit unions )(State Employees' Credit Union )(Premier Federal Credit Union )
August 6, 2007... 'Credit Union' Can Be Omitted OLYMPIA, Wash.-State-chartered credit unions are not required to use the words "credit union" on their public signage, the state regulator ruled. The interpretative ruling furthers the move to blur the...

EasCorp's New CDC Program Brings Check Imaging Home.(Eastern Corporate Federal Credit Union)
August 6, 2007... BURLINGTON, Mass. -- Eastern Corporate Federal Credit Union (EasCorp) is piloting a new Consumer Deposit Capture (CDC) program that allows consumers and small businesses to electronically scan checks and send them to their credit unions for...

Paper Check Processing Equipment Sent Out To Pasture.(Eastern Corporate Federal Credit Union)(Brief article)
August 6, 2007... BURLINGTON, Mass. -- Eastern Corporate FCU held an "e-tirement" party to celebrate the end of its paper check processing. While a number of corporates have downsized their paper check processing, EasCorp said it believes it is the only...

Now In The Market.(Hyland Software Inc. and JustIQ )(Aberdeen Proving Ground Federal Credit Union)(TruService Federal Credit Union and PEMCO Technology Services)
August 6, 2007... Hyland Partners With JustIQ CLEVELAND-Hyland Software Inc. and JustIQ announced a partnership that promises to reduce the costs of managing the student-lending process. Hyland said OnBase will seamlessly integrate with JustIQ's customized...

California Governor Signs League-Sponsored CU Modernization Bill Into Law.(California Credit Union League)
August 6, 2007... SACRAMENTO, Calif. -- Gov. Arnold Schwarzengger has signed into law a bill backed by the California CU League that modernizes the statutes pertaining to credit unions in the state. Ron Fong, the California Credit Union League's director of...

Sign Up Now For CU Journal's 'Day In The Life' Project.
August 6, 2007... WEST PALM BEACH, Fla. -- This year will mark the 11th anniversary of one of the most extraordinarily unique projects within the credit union community-Credit Union Journal's Day in the Life Project. This year our goal is to make it bigger than...

Wings Financial FCU Adds Sun Country Airlines To FOM.(Sun Country Airlines Inc. and Wings Financial Federal Credit Union )(Brief article)
August 6, 2007... APPLE VALLEY, Minn. -- Wings Financial Federal Credit Union announced it has partnered with St. Paul, Minn.-based Sun Country Airlines to serve the carrier's more than 1,000 employees. The partnership with Sun Country comes nearly a month...

Tough Days, Tough Nights, Seeing All The Sights & Sites.(reports of credit unions)(Editorial)
August 6, 2007... Credit unions have been breathing something of a sigh of relief over the bullet that has been dodged to date with subprime mortgages. Most credit unions didn't make the "Easy to Get Into, Bear To Get Out Of" home loans, so while rising rates...

Calendar.(credit unions)(Calendar)
August 6, 2007... SEPTEMBER Sept. 6-8 Pennsylvania CUA-Fall Leadership Conference, Seven Springs Mountain Resort, Champion, Penn. For info: Karen Ketterer, 800-832-0661, ext. 5237. Sept. 6-8 Texas CUL Leadership Conference & Expo, Marriott...

Michigan Court Case Is Troubling; Why All Credit Unions Should Be Aware Of It.(Wachovia Mortgage Corp.)
August 6, 2007... The strength and health of the credit union movement relies in large part on the preservation of the dual chartering system. In fact, the entire American financial services system rests on the foundation of dual chartering for depository...

Letters To The Editor: 'Demonizing' One Reason For Confidentiality.(Letter to the editor)
August 6, 2007... Credit Union Journal Publisher Frank Diekmann's column dated July 23 missed the point about the Coalition for Credit Union Charter Options' lawsuit against NCUA concerning the agency's over-reaching anti-conversion regulations. The point is...

The Flaw In Branching: CUs Focus On The Bricks, But Not What Sticks When Opening Branches.
August 6, 2007... Over the last five years branch networking has exploded. As more and more credit union branches are built, I've noticed one consistent flaw. Most credit unions are skipping the final, most critical step in opening a new or remodeled...

What To Think About With Cash Recycling Units.
August 6, 2007... Efficiency is a powerful concept for any business, and retail financial services is no exception. Efficient credit union branches are better at winning new members, keeping them happy, serving them quickly, and doing it at a lower cost than the...

CU Journal Asks: Attention Little Dogs!
August 6, 2007... In the July 16 issue the Credit Union Journal we provided in-depth coverage of whether the future for CUs is reserved for the big dogs. Do you agree? Disagree. Take a minute or two, log onto www.cujournal.com and click Letters to the Editor and...

On Same Day, Navy Federal Opens New Branches In Four Locations.(Navy Federal Credit Union )
August 6, 2007... VIENNA, Va. -- With the opening of four new branches in Atlanta, Navy Federal Credit Union has found a way to grow its membership while sticking close to its military heritage. While Naval Air Station Atlanta in nearby Marietta has been...

C Plant FCU Goes Back To Its History To Develop Its Future.( C Plant Federal Credit Union )
August 6, 2007... PADUCAH, Ky. -- Credit unions searching for new members or a stronger community image might fare better looking to their past instead of advice from a high-powered design team. When opening its last branch last year, C Plant Federal Credit...

Now In The Market.(Open Solutions Inc. and Redstone Federal Credit Union)(Freedom Credit Union)
August 6, 2007... OneBridge Adds Contactless Feature INDIANAPOLIS-OneBridge has added contactless payment processing to its suite of payment processing solutions. Officials said OneBridge's clients will now be able to issue Visa payWave as an added feature...

Del-One Members Grab For Cash.(Del-One Federal Credit Union )(Brief article)
August 6, 2007... Dover, Del. -- At the grand opening celebration of its West Dover branch and corporate center, Del-One Federal Credit Union had a prize wheel, hot dogs, fresh-baked pretzels, face painting, balloon animals, a live remote radio broadcast and a...

Langley Creates 'Mini-Branch'.(Langley Federal Credit Union and Calvary Christian Academy)(Brief article)
August 6, 2007... NEWPORT NEWS, Va. -- Langley FCU and Calvary Christian Academy held a ribbon-cutting ceremony for a newly constructed mini branch at Tower Place in Hampton. The facility was established to encourage children to save. Students also count...

CUs Brave Sectarian Violence To Bring Movement To Afghanistan.(World Council of Credit Unions)
August 6, 2007... CALGARY, Alberta -- When operating in an area of conflict, Randy Spears knows the first step is to establish security and guard the perimeter. Only then can business proceed with any degree of seeming normality. That's true of all U.S....

Lewis: WOCCU's Global Influence 'Unrecognized'.(World Council of Credit Unions )
August 6, 2007... CALGARY, Alberta -- World HIV/AIDS activist Stephen Lewis knew he was among kindred spirits at the World Council of Credit Union's conference here last week, and he spoke plainly about the value the organization and its partner groups were...

Now In The Market.(GrooveCar)(Mortgage Builder Software Inc.)(William Mills and Associates Inc.)
August 6, 2007... GrooveCar Launches Xpress LEase HAUPPAUGE, N.Y.-GrooveCar, Inc. unveiled CU Xpress Lease, its new turn-key auto lease program that is being offered through New York credit unions to franchised auto dealers. GrooveCar officials said this is...

WOCCU Targeting Consumers In New Fundraising Efforts.(World Council of Credit Unions)
August 6, 2007... CALGARY, Alberta -- Noting declines in government funding sources at all levels, the World Council of Credit Unions will launch its first direct-mail fundraising campaign targeting consumers outside the credit union movement. The WOCCU board...

CU Contributions Help CUNA Build Up CURIA Sponsors.(Credit Union National Association)
August 6, 2007... WASHINGTON -- Campaign contributions from CUNA continued to find their way to key sponsors of CURIA-the CU Regulatory Improvements Act-as the credit union lobby works to convince Congress to move the five-year-old bill to a hearing or vote. To...

Capital's Credit Unions Help Clear Airport Security Lines.(Pentagon Federal Credit Union and Congressional Federal Credit Union)(Brief article)
August 6, 2007... WASHINGTON -- Congressional FCU and Pentagon FCU have agreed to help enroll government employees in a new program that will speed them through airport security lines. The two credit unions will help a private contractor, called Clear, to...

House Panel OKs Affordable Housing Trust Fund Program.(Congress. House. Committee on Financial Services)(Brief article)
August 6, 2007... WASHINGTON -- The House Financial Services Committee last week approved a bill creating a National Affordable Housing Trust Fund, which would provide as much as $1 billion a year to help build affordable homes. But the Fund, which would provide...

NCUA Bylaw Ruling Nullifies Entire MAUI Teacher's Board.(National Credit Union Administration)(Brief article)
August 6, 2007... MAUI, Hawaii -- Members of Maui Teacher's FCU were required to elect a new board by special ballot after NCUA ruled that the five-person panel was elected in violation of the credit union's own bylaws for the past 20 years. NCUA removed...

People.(briefs)(Brief article)
August 6, 2007... The Summit Federal Credit Union, Rochester, N.Y., named Susan Malta senior member service manager, Tina Longwell Rochester business relationship account executive and Connie Scherrer branch manager for Clarence and North Buffalo. USA...

This CU Grant Will Fly.(credit unions)(Brief article)
August 6, 2007... Students at Granger High School will learn to fly-literally-with the help of a $15,000 grant from the Utah CU Association's 100% for Kids CU Education Foundation. The grant allowed the students to buy a kit and build their own four-seat...

Grant Funds Braille Text Books.(Brief article)
August 6, 2007... TAMPA, Fla. -- Suncoast Schools FCU's Suncoast for Kids Foundation has awarded an $11,000 grant to the Braille Institute of Florida to buy a high volume embosser that will be used to transcribe textbooks for blind children. The embosser...

FNIS Gets Antitrust Clearance.(Fidelity National Information Services )(Brief article)
August 6, 2007... JACKSONVILLE, Fla. -- Federal antitrust regulators have cleared the takeover of eFunds Corp. by Fidelity National Information Services for $1.8 billion. The Federal Trade Commission said the deal received an early termination of the...

2 Sentenced For Violent Hold-Ups.(Brief article)
August 6, 2007... TOLEDO, Ohio -- Two more members of a violent robbery ring were sentenced to long prison sentences for their roles in the series of credit union hold-ups that netted almost $1 million. David Booth and James Wyley are among five ring members...

MATCU Awards $52,500 In Grants.(Memphis Area Teachers Credit union)(Brief article)
August 6, 2007... MEMPHIS -- Memphis Area Teachers CU is distributing $52,500 in college scholarships under its Future Teachers program. The grants include six of $2,500 for first-time recipients and $3,000 each to 15 who are having their scholarships...

READER RESOURCES.
August 6, 2007... Credit Union Journal Subscribers can access all content from the print edition every Monday simultaneously with its publication at www.cujournal.com. Additional resources include: * Front-page news stories are accessible by clicking on the...

CUJ & Q&A: Missouri CU Rep Among 10 Finalists For People's Worst-To-Best Dressed Contest.(dialogue with Jennifer Allemann)(Interview)
August 6, 2007... BRIDGETON, Mo. -- Jennifer Allemann, public relations specialist for Vantage Credit Union, is one of 10 finalists in People magazine's "America's Worst-to-Best Dressed" contest. As part of her contest entry, Allemann submitted a photo and...

Save, Schmave, Says More Than Half Of U.S.(surveys of Bankrate Inc.)(Brief article)
August 6, 2007... NORTH PALM BEACH, Fla. -- More than half of all Americans do not have an emergency savings fund, defined as equal to three months' living expenses, according to a new survey. The survey, conducted by Bankrate Inc., also found that men tend...

Second Annual 'E-Recycling Week' To Take Place.(Members First Federal Credit Union)(Brief article)
August 6, 2007... COLUMBUS, Ohio -- Members First CU said it will host its second annual "E-Recycling Week" Aug. 6-11 during which members and residents are urged to bring items such as personal computers, business computers, cell phones, servers, printers,...

NY CU Rep Testifies On Subprime Lending.(Melrose Credit Unions)(Brief article)
August 6, 2007... BROOKLYN, N.Y. -- Robert Nemeroff, director of marketing for Melrose CU in Queens, testified on behalf of the New York State Credit Union League and New York credit unions at a Senate Democratic Conference hearing on subprime lending practices...

NCUA Clarifies Rule On Political Activities.(National Credit Union Administration)(Brief article)
August 6, 2007... ALEXANDRIA, Va. -- NCUA's General Counsel's Office has issued a clarification of an earlier opinion letter on permissible credit union political activities. The earlier opinion and the clarification were in response to a CUNA request for...

Members Can Win $5K For Selves, Schools.(Security Service Federal Credit Union)(Brief article)
August 6, 2007... SAN ANTONIO -- As part of a membership drive here, Security Service FCU is offering five members the chance to win not just $5,000 for themselves, but another $5,000 for the school of their choice. The $4-billion Security Service's "It's So...

Credit Union Journal leader Board - Profiles Of Peer Group Leaders.(reports of credit unions)(Statistical table)(Brief article)
August 6, 2007... Top 10 Credit Unions - Based on Return on Assets (ROA) with assets between $25 and $100 million as of 12/31/06: CU State 06 ROA* Southern TX 4.07% Pinellas FL 3.29% West...

It's Dull At City CU. And That's Just The Way IT Likes It.(Interview)
August 13, 2007... DALLAS -- Credit unions are taking a step forward with online lending technologies but two steps away from their members, according to one CU executive here. "It's sad to see so many credit unions that only care only about speed and...

Bankers Want FOMs Opened Up To Scrutiny.(field of membership )
August 13, 2007... WASHINGTON -- The banking lobby is urging NCUA to require all field of membership expansions be opened up to public scrutiny through a comment and review process. America's Community Bankers, the trade group for S&Ls and a regular critic...

East Meets Best: Polish & Slavic FCU Looks To Expand South To Florida, West To Arizona, Beyond.(services of credit unions)
August 13, 2007... BROOKLYN, N.Y. -- If Bogdan Chmielewski has his way, America's largest ethnic credit union will serve as many sizeable concentrations of Polish immigrants, its primary membership group, as possible. That could stretch the $1.1-billion...

New CU-Owned Option Emerges For Credit Card Portfolio Sales.(TMG Financial )
August 13, 2007... DES MOINES -- A new alternative for credit unions wanting to sell their credit card portfolios emerged last week with the Iowa CU League's The Members Group launching an agent issuing program of its own. Jeff Russell, a long-time executive...

On Deadline.(Federal Home Loan Bank of Chicago)(PHH Corp.)(forecasts and trends of credit unions)(Financial report)
August 13, 2007... Small CUs Still Standing FORT LAUDERDALE, Fla.-Small credit unions have some real disadvantage, but they still have a lot of life in them, according to Dr. Jim Likens, economics professor at Pomona College. Likens was discussing a...

'Who's Who' Program Is Opportunity To Recognize Unsung Heroes Of Movement.(Dollar Associates)
August 13, 2007... BIRMINGHAM, Ala. -- Nominations forms for the inaugural "Who's Who In America's Credit Unions" are hitting credit union desks across the nation as the new recognition program launched by Dollar Associates, here, gets underway. Similar to...

Arbiters Of Who's Who.(officials and employees of credit unions)(Brief article)
August 13, 2007... BIRMINGHAM, Ala. -- "Who's Who In America's Credit Unions" has put together an impressive group of credit union leaders to comb through the nominees for the new recognition program. As Dollar Associates Principal Partner and WWACU Editorial...

CU CEOs Expect Economic Climate To Weaken, According Confidence Survey.(Brief article)
August 13, 2007... DALLAS -- Credit union CEOs are reasonably upbeat about their institutions' current financial performance, but show less certainty over theirs and their members' financial status for the remainder of the year, according to Southwest Corporate...

STATE STAT-SHOT.(Statistical data)
August 13, 2007... Throughout 2007, the Credit Union Journal is profiling the credit unions of each U.S. state and D.C. Rather than appear in alphabetical order, the states are being featured in the order they became states. MINNESOTA Number of credit...

Worth Noting.(Falls Federal Credit Union to merge with Hoosick Falls Credit Union)(research report on credit unions)
August 13, 2007... Fall Federal, Hoosick Falls To Merge HOOSICK FALLS, N.Y.-Two small CUs here located within 250 yards of each other have announced plans to merge. The $2.3-million Falls Federal and the $10.3-million Hoosick Falls Credit Union are aiming to...

How One CU CEO Regains His Status As One Of The Boys Of Summer.(Tom Rachael of PALCO Federal Credit Union)(Interview)
August 13, 2007... MUNCY, Penn. -- Tom Rachael, president and CEO of PALCO Federal Credit Union, is gearing up for his usual summer vacation from the office. However, Rachael doesn't spend his vacation relaxing on a beach or sightseeing. Instead he spends...

Horizon FCU Floats Along With Little League World Series.(Horizon Federal Credit Union )(Brief article)
August 13, 2007... Williamsport, Penn. -- For the first time, Horizon Federal Credit Union is planning to have a float in the city's parade that celebrates the Little League Baseball World Series. The credit union is also going to have advertisements on the...

FedChoice FCU Creates Program For Federally Employed Women.(FedChoice Federal Credit Union )
August 13, 2007... WASHINGTON -- As a way of showing its support for women in the federal government, FedChoice Federal Credit Union has partnered with Federally Employed Women (FEW). FEW is a membership organization working for the elimination of sexual...

Credit Unions In The Media.
August 13, 2007... The Colorado Springs Gazette reported on Air Academy FCU's new program to offer members an alternative to payday loans at a "fraction of the interest rate such lenders charge." The newspaper cited AAFCU's Smart Solutions program, which charges...

With 7-Decade Career, Iowa CU Pioneer A.W. 'Al' Jordan Celebrates 100th Birthday.
August 13, 2007... DES MOINES, Iowa -- Iowa credit union pioneer and former Iowa Credit Union League CEO A.W. "Al" Jordan celebrated his 100th birthday here on Aug. 5. Jordan, who retired as league president in 1981, is one of few remaining leaders from the...

Rep. Mel Watt 'Trades Places' With Charlotte Metro CU Teller.(Brief article)
August 13, 2007... U.S. Rep. Mel Watt (D-NC) receives teller line instructions from Charlotte Metro Credit Union teller Amber Brown. He served as a teller at the CU as part of his "Trading Places" program designed to help him keep in touch with his constituents....

For You Strategic Strategists, Wise 53-Year-Olds, And More.(Conference notes)
August 13, 2007... Let's begin with some wisdom. At a recent credit union conference I heard one speaker refer not once, but twice to "strategic strategies." Those are not to be confused with "tactical tactics." * How have deposits flowed into credit unions...

Calendar.(Calendar)
August 13, 2007... SEPTEMBER Sept. 6-8 Pennsylvania CUA-Fall Leadership Conference, Seven Springs Mountain Resort, Champion, Penn. For info: Karen Ketterer, 800-832-0661, ext. 5237. Sept. 6-8 Texas CUL Leadership Conference & Expo, Marriott...

CUs A Perfect Fit For Small Biz, If They Have Right Technology.
August 13, 2007... It's a fact. Credit unions are not just for personal accounts anymore. Today, savvy institutions are aggressively targeting the small business and micro-business market with a full range of products and the personal attention this underserved...

Worth Noting.(National Association of State Credit Union Supervisors)(Credit Union National Association)(National Credit Union Administration)
August 13, 2007... KY, NC Regulators Reaccredited ARLINGTON, Va.-NASCUS announced that the Kentucky Office of Financial Institutions (OFI) and the North Carolina Credit Union Division (NCCUD) have earned NASCUS re-accreditation. The Kentucky OFI, first...

CU Journal Asks: Attention All Little Dogs!
August 13, 2007... In the July 16 issue the Credit Union Journal provided in-depth coverage of whether the future for CUs is reserved for the big dogs. Do you agree? Disagree? Take a minute or two, log onto www.cujournal.com and click Letters to the Editor and...

Smith Inspired By Blaine's Call To Action On MLK Memorial Project.(Viewpoint essay)(Brief article)
August 13, 2007... The article in the July 23 edition of the Credit Union Journal by Jim Blaine puts me to shame. In the article, Mr. Blaine recalls the persistence of Hubert Hoosman's solicitation for the Martin Luther King Jr. Memorial. Mr. Blaine calls on CEOs...

Successful CUs Don't Blame Others For Their Problems, Regardless Of Their Asset Size.(management of credit unions)(Brief article)
August 13, 2007... What will it take for small credit unions to survive? Successful credit unions of all sizes do two things. First, when problems arise, they don't blame circumstances, the economy, or the billion-dollar credit union that moved in down...

Hyland Clarifies Position On How NCUA Can Calibrate Regulations To Ensure CUs Are Sound.(National Credit Union Administration)(Letter to the editor)
August 13, 2007... Although your July 16 article "Will Only the Big Dogs Survive" was wide-ranging and timely, its unfortunate contextual omission may leave your readers with an incomplete picture of what I conveyed to Mr. Jim Jerving during my interview. ...

Letters To The Editor.(Letter to the editor)
August 13, 2007... Credit Union Journal encourages reader feedback. Letters to the Editor can be sent to Managing Editor Lisa Freeman at lfreemancujournal.com. Letters can also be faxed to 561-832-2939 or submitted online at www.cujournal.com. (c) 2007 The...

Now In The Market.
August 13, 2007... CFS Introduces Small CU Consortium SAN DIEGO-CUSO Financial Services, LP (CFS) has introduced a consortium program for smaller credit unions, most of which do not offer any type of investment program for members due to limited resources. In...

NAFCU Says It Opposes Private Insurance Bid.(American Share Insurance)
August 13, 2007... ARLINGTON, Va. -- NAFCU, whose members are required to obtain federal deposit insurance provided by NCUA, called on state regulators in Washington state to reject a bid to revive private insurance for state chartered credit unions. Raising...

Banker Jailed for Mutual Conversion Scheme.(officials and employees of Oppenheimer and Company Inc.)
August 13, 2007... NEWARK, N.J. -- A former investment banker was sentenced to two years in prison and ordered to forfeit $11 million in profits last week for a scheme to illegally qualify for initial public offerings of 65 mutual savings banks-including eight...

Washington CUs' Radio Spots: 'What's In It For Me?'.(marketing of credit unions)(Brief article)
August 13, 2007... WASHINGTON -- Capital area radio stations will begin airing a series of upbeat commercials this fall targeting so-called Gen Y consumers and focusing on the credit union difference. The long range campaign-up to three years-will allow for...

Agenda.
August 13, 2007... Events NCUA Outreach Taskforce: Town Hall Meetings on the Member Service Assessment Pilot Program are Aug. 15 in Denver and Oct. 2 in Washington. NCUA's Office of Small CU Initiatives is hosting a variety of events: Aug. 25 in...

People.(appointments)(Brief article)
August 13, 2007... Sterlent Credit Union, Pleasanton, Calif., named Sue Raines CEO. Veridian Credit Union, Waterloo, Iowa, named Dawn McMahon compliance internal auditor. Marion and Polk School CU, Salem, Ore., named Dianna Robnett stellar teller. ...

CU Lender Files for Bankruptcy.(credit unions)(Brief article)
August 13, 2007... WILMINGTON, Del. -- American Home Mortgage, the mortgage bank for dozens of credit unions, has filed for bankruptcy, leaving hundreds of mortgages for credit union members unfunded. Two other mortgage lenders also said they were not...

Campaign Returns To Airwaves.(Brief article)
August 13, 2007... AUGUSTA, Maine. -- Maine credit unions have begun airing their third series of radio ads touting shared branching. The campaign, funded by 23 CU participants in Maine's shared branching network, will air for three weeks. The ad,...