Credit Union Journal articles from February 2007

Credit Union Journal archives from February 2007

Got Earnings?: A Cadre Of Experts Share Strategies For Fattening The Bottom Line.
February 5, 2007... LANSING, Mich. -- In an effort to provide strategies to help you make this the most successful year at your credit union, the Credit Union Journal has launched its "7 in '07" series, chock full of great ideas to implement at your credit union....

Workshop Addresses Gender Gap In Large CU Leadership.
February 5, 2007... SAN DIMAS, Calif. -- Although 52% of all credit unions are managed by females, the developers of a recent Women's Leadership Workshop say only six of the top 100 CUs-and just 1% of credit unions with $250 million to $1 billion in assets-are led...

Wal-Mart Bank Bid Delayed: FDIC Chooses Not To Approve Retailer's ILC Charter, Awaits Congress To Take Lead.
February 5, 2007... WASHINGTON -- The FDIC dealt a near-fatal blow last week to the effort by Wal-Mart Stores for a bank charter when it voted to extend its moratorium for industrial loan companies owned by commercial entities for another 12 months. The move...

Thinking Outside The Branch: Creating Robust Membership Experience Requires Integration With Target Community.
February 5, 2007... ST. LOUIS -- Building a branch and putting out a "Se habla Espanol" sign isn't enough. Instead, creating a whole membership experience that strikes a positive chord with the market you're trying to reach is the key. Credit Union...

Mass. League Is Calling For Lawsuit In TJX Data Breach.(Massachusetts league)(TJX Companies Inc. T.J. Maxx)
February 5, 2007... FRAMINGHAM, Mass. -- Credit unions affected by the massive security breach at TJX have notified the national retailer they will seek compensation for hundreds of thousands of dollars, or more, of costs associated with recalling and reissuing...

On Deadline.(Polish & Slavic Federal Credit Union's Alicja Malecka resigned)(Congress Plans Bill On Overdraft Fee Reform)(Credit Union National Association's political funding)
February 5, 2007... CEO Fired in Continuing Upheaval at P&SFCU BROOKLYN, N.Y.-The ongoing turmoil at Polish & Slavic FCU, one of the largest immigrant-based credit unions in the country, resulted in the ouster of the $1 billion credit union's embattled CEO,...

Lafayette FCU Points Finger At Auditor, CU Think Tank, CUNA For Conversion Failure.(Lafayette Federal Credit Union)
February 5, 2007... KENSINGTON, Md. -- The board at Lafayette FCU, which has withdrawn its plan to convert to a bank following problems surrounding the member vote, issued a statement recently via the credit union's website blaming the problems on the firm that...

TNB Raises $60 Million In New Capital From Stock Offering.
February 5, 2007... DALLAS -- CU Bank Shares Inc., the parent of the only credit union-owned bank, Town North Bank, said last week it raised $60 million in new capital with a stock offering among its credit union owners. With credit unions preferring to sell...

Agency Data Breach Hits Vermont CUs.
February 5, 2007... WILLISTON, Vt. -- Yet another massive data breach is affecting the credit union industry, this time in the cold climate of the Green Mountain State. While many data breaches involve a retailer wrongly keeping a customer's vital information...

Heavy February Ad Buy Targeting Lawmakers.(National Center For Member Trust )(Brief article)
February 5, 2007... WASHINGTON -- The National Center For Member Trust (NCMT) has invested in a major ad buy in Capitol Hill publications targeting lawmakers during the upcoming Governmental Affairs Conference and Hike The Hill season, according to co-founder of...

Worth Noting.(Georgia CU League President Michael Mercer won the Eagle Award)(credit union executives to participate in Ensenada, Mexico International Yacht Race)(SELCO Credit Union's celebration )
February 5, 2007... Yacht Race Raises Funds NEWPORT BEACH, Fla.-A group of executives with credit unions and vendors are again participating in the 125-nautical mile Newport Beach, Calif. to Ensenada, Mexico International Yacht Race and are again using it to...

How Do You Get Members To Use More Than One Product? Offer Convenience.
February 5, 2007... MISSOULA, Mont. -- Montana Educators CU has a specialty: getting members to use multiple products and services. So good at this is the $10.3-million CU that it took first place in Callahan & Associates's Return of the Member rankings in the...

CUJ Leader Board: Profiles Of Peer Group Leaders.(Brief article)(Statistical data)
February 5, 2007... CU: Montana Educators' CU Assets: $10.3 million Membership: 1,515 Callahan Return To Member Rankings $250M-$1B In Assets, Second Quarter Rank Credit Union ROM 1 Los Angeles Firemen's 100.0 ...

GE Employees CU Alleges Fraud In $7M Mortgage Lawsuit.
February 5, 2007... MILFORD, Conn. -- GE Employees Federal Credit Union here is suing San Francisco resident Lorraine O. Legg for more than $7 million in damages, alleging that she improperly pocketed monies from three mortgages instead of selling them in the...

Worth Noting.(Atlantic Financial Federal Credit Union declared bonus)(valuation of Ent Federal Credit Union)(John B. Reardon been appointed as a superintendent of financial institutions)
February 5, 2007... Ent FCU Hits $2 Billion in Assets COLORADO SPRINGS, Colo.-Ent FCU, one of the largest financial institutions in the Pikes Peak region, said it has surpassed $2 billion in assets. Ent said it is Colorado's 11th-largest financial...

Arkansas FCU Donates $80,000 To Hospital.(Arkansas Federal Credit Union )(Arkansas Children's Hospital Foundation)(Brief article)
February 5, 2007... JACKSONVILLE, Ark. -- Arkansas Federal Credit Union has donated $80,000 to Arkansas Children's Hospital Foundation. The funds will be used for improvements to the third-floor playroom in the hospital. For the past year, Arkansas...

CUs Set Record For New Auto Loans In 2006.(Brief article)
February 5, 2007... DETROIT -- The automotive industry press is praising credit unions for achieving a record-setting year in auto lending. A Jan. 8 article in Automotive News quoted a J.D. Power statistic showing that credit unions captured nearly 10% of the new...

NAFCU, United Nations FCU Nominated For BSAAG.(National Association of Federal Credit Unions)(Bank Secrecy Act Advisory Group)(Brief article)
February 5, 2007... ARLINGTON, Va. -- NAFCU has nominated itself and United Nations FCU for membership on the Financial Crimes Enforcement Network's Bank Secrecy Act Advisory Group (BSAAG). The BSAAG was established pursuant to the Annunzio-Wylie Anti-Money...

Colorado, Wyoming Step Up Advocacy Goal.(Brief article)
February 5, 2007... ARVADA, Colo. -- When Colorado's and Wyoming's state legislatures open their 2007 sessions the states' credit unions say they will be well-positioned. The Credit Union Associations of Colorado and Wyoming said its stepped-up political advocacy...

An NCUA Proposal That Would Be More Valuable Than A Bucket Of Warm Spit.(National Credit Union Administration)(Column)
February 5, 2007... The hallmark of former NCUA Chairman Dennis Dollar's term was making life better for members by reducing the regulatory load on their credit unions. Ironically, the hallmark of current NCUA Chairman JoAnn Johnson's could very well be to have...

Join Your Peers For 'A Night At The Museum'.(Editorial)
February 5, 2007... The Credit Union Journal has a very special announcement. Thanks to the support of the CO-OP Network, as part of our Business Development & SEG Conference April 12-13 in Boston, the Journal has arranged for a tour and dinner at America's Credit...

Calendar.(credit union meetings)(Calendar)
February 5, 2007... FEBRUARY Feb 11-13 Western States Volunteers Conference, Green Valley Ranch Resort, Spa & Casino; Henderson, Nev. For info: 800-472-1702 or www.ccul.org/wsvc07. Hotel: 866-782-9487. Feb 11-16 CUES & WesCorp's Executive...

Velocity CU Seeks Clarification Of Its Lawsuit Against The Standard Insurance Co.(Letter to the editor)
February 5, 2007... I am writing to clarify a misleading article about Velocity Credit Union's lawsuit against The Standard Insurance Company (Credit Union Journal Online, January 16, 2007). The lead paragraph incorrectly states that a $10-million retirement...

What Are CUs Saying About Loans In 2007?(credit unions)(Brief article)
February 5, 2007... Cast your vote in the current poll at www.cujournal.com. CU JOURNAL ONLINE SURVEY With respect to your loan underwriting, in 2007 will you: Take more risk 47% Take less risk 11% Make no changes 42% ...

CDCU Critical In Rebuilding New Orleans' 9th Ward.(Community Development Credit Union)
February 5, 2007... NEW ORLEANS -- ASI FCU was deluged last week with applications for loans and grants being distributed under a new state program to help small businesses damaged by Hurricane Katrina. The community development credit union, which is teaming...

FedChoice FCU Reclaims Office From Mother Nature's Wrath.(FedChoice Federal Credit Union)(Brief article)
February 5, 2007... WASHINGTON, D.C. -- There, in the newly opened lobby of FedChoice Federal Credit Union (formerly IR Federal Credit Union), stands a reminder of Mother Nature's power-a life-sized mannequin wearing a rain slicker and boots and toting an...

Now In The Market.(FSCC's Custom Call Center's earning)(Cuna Mutual Group's credit rating)(Better Branches in partnership with SegmentOne)
February 5, 2007... Communications Protection Offered TALLAHASSEE, Fla.-FCUL Service Group, Inc. has entered into a partnership with Telecom Recovery. With the service in place, credit unions are covered in the event of a natural or other disaster, preventing...

Two Disney Credit Unions Put A 'Partner'ship On Their Vista.(Partners Federal Credit Union to merge with Vista Federal Credit Union)
February 5, 2007... BURBANK, Calif. -- For two credit unions located on opposite sides of the country, Partners FCU and Vista FCU have a lot in common. Both are good-sized CUs with more than 100 employees and thousands of members who work for the sprawling...

Credit Unions In The Media.(credit union laws)(Brief article)
February 5, 2007... The Albany Times Union did a story about credit unions seeking state approval to gain access to the multibillion-dollar business of municipal deposits-a move opposed by commercial banks. A bill was offered in 2006 to allow CUs and small savings...

Now In The Market.(CO-OP Financial Services's social service)(Lending Solutions Inc. contract with Agriculture Federal Credit Union and Members Credit Union)(financial serices exhibition)
February 5, 2007... CO-OP Helps Make a Miracle ONTARIO, Calif.-CO-OP Financial Services helped make a dream come true for a 15-year-old young man as part of its support of the Children's Miracle Network "Champions Across America" program. Michael Salvestrin...

Now In The Market.(Olympic Gold Medal Skater Peggy Flemming's contract with Affinion Group)(Southwest Corporate Federal Credit Union's certificate of deposits)(MortgageClick's growth of business)
February 5, 2007... Southwest Increase Offerings DALLAS-Despite tight liquidity in 2006 credit unions invested more than $1 billion in "special certificates" and "reverse inquiries" last year with Southwest Corporate Federal Credit Union. The number of...

Under the Microscope: Latest Developments In Research.(report on Small business management)(report on financial services)(report on credit card users)
February 5, 2007... Credit Card Holders Have Upper Hand In Negotiations ATLANTA-A credit card study by Synergistics Research found one-third of card users report they have at some point asked one of their credit card providers for a lower interest rate to keep...

Disagreements Between Trades Arise in CURIA Bid.(Credit Union Regulatory Improvements Act)
February 5, 2007... WASHINGTON -- CUNA and NAFCU were skirmishing last week as they were meeting to draft proposals for CURIA, the CU Regulatory Improvements Act introduced in each of the last two congresses. This year's bill, which is expected to be...

Hispanic Savings Campaign Launched by CUs.(credit unions)(Brief article)
February 5, 2007... EL PASO, Texas -- The National CU Foundation and Fannie Mae announced matching $25,000 grants last week to help fund a savings campaigned targeted towards the burgeoning Hispanic population. Almost two dozen credit unions focusing on Hispanic...

GSE Bill Snagged on Affordable Housing Bid.(government sponsored enterprise)(Brief article)
February 5, 2007... WASHINGTON -- Republican lawmakers are balking at a new proposal on the much-debated bill to reform oversight of the secondary mortgage market, particularly a provision to collect as much as $700 million a year from Fannie Mae and Freddie Mac...

Agenda.
February 5, 2007... Hearings House Financial Service Committee, Feb. 6, will hold a hearing on the Federal Housing Response to Hurricane Katrina. Meetings Feb. 15 - NCUA Open Board Meeting Feb. 25-28 - CUNA GAC Events Feb. 6 - NCUA and...

People.(appointments)(Brief article)
February 5, 2007... Rogue FCU, Medford, Ore., named Gene Pelham CEO. Bay Federal Credit Union, Capitola, Calif., named Janene Adema vice president of business development. Catholic FCU, Saginaw, Mich., promoted Amy Mikolaiczik to special projects...

NCUF Provides $25,000 Grant.(National Credit Union Foundation)(Network of Latino Credit Unions and Professionals)(Brief article)
February 5, 2007... MADISON, Wis. -- The National Credit Union Foundation has given a $25,000 grant to the Network of Latino Credit Unions and Professionals (NLCUP) to help launch a national savings campaign for Hispanics. NLCUP was incorporated in April 2006 with...

Federation Co-Opted On Wall St.(National Federation of Community Development Credit Unions)(Merrill Lynch and Company Inc. to acquire First Republic Bank)
February 5, 2007... WALL STREET -- The National Federation of CDCUs said it is being forced by the Post-Sept. 11 reconstruction of Lower Manhattan to vacate its headquarters in the high-rent neighborhood of the New York Stock Exchange and JP Morgan, in the heart...

Founders FCU Expands N.C Market.(Founders Federal Credit Union acquired GT&R N.C. Employees Federal Credit Union)(North Carolina )(Brief article)
February 5, 2007... LANCASTER, S.C. -- Founders Federal Credit Union has expanded its footprint in North Carolina with the acquisition of GT&R N.C. Employees Federal Credit Union. Founded in 1971 as General Tire & Rubber North Carolina Federal Credit Union,...

Reader Resources.
February 5, 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...

Why One CU, CUSO Believe Investment Services Will Unlock Movement's Futurej4.(Credit Union Service Organization)(Kinecta Federal Credit Union )(Interview)
February 5, 2007... MANHATTAN BEACH, Calif. -- With membership growth stagnant across the credit union industry, one CU and its CUSO are showing how investment services can be key to unlocking that door. Kinecta CEO Simone Lagomarsino has hired Pete Snyder to...

Redwood CU Teams With Horizon Air To Bring Commercial Air Service To Community.
February 5, 2007... SANTA ROSA, Calif. -- This Northern California community soon will have commercial air service for the first time since shortly after the Sept. 11 terrorist attacks, thanks in part to Redwood Credit Union's campaign to gather pledge travel...

Mirror, Mirror On The Wall: SECU To Hang Mirrors In 206 Braches To Help Members Reflect.(State Employees' Credit Union )
February 5, 2007... RALEIGH, N.C. -- State Employees' Credit Union wants its members to look at themselves, so they are holding up a very large mirror, eventually in all 205 branches. Can the song be far behind? "See the pretty member in the mirror, there;...

State Stat-Shot: Connecticut.(Brief article)(Statistical data)
February 5, 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. Number of credit unions ...

Corrections & Clarifications.(Correction notice)
February 5, 2007... In the Dec. 21 issue, the Credit Union Journal did not correctly clarify the timeframe that Arnold S. Rosenthal, chairman of Lafayette FCU, allegedly made comments that sources attributed to him. Mr. Rosenthal retired from the Small Business...

Lafayette Sues Former CEO, Son: Separately, Opponent of Conversion Says LFCU Has Closed His Checking Account, Cut Off ATM Access.(Lafayette Federal Credit Union)
February 12, 2007... KENSINGTON, Md. -- Lafayette FCU has filed a multi-million dollar lawsuit against its former CEO and his son for their alleged role in the credit union's ill-fated conversion to mutual savings bank, the latest in a series of moves aimed at...

Congress Told Subprime Standards Needed.
February 12, 2007... WASHINGTON -- CDCU champion Martin Eakes joined civil rights leader Jesse Jackson and the head of the NAACP before Congress to call on lawmakers last week to pass national standards to protect subprime mortgage borrowers from predatory lending...

CU Helping Students Learn To Save, And The Chairman's Paying For it.
February 12, 2007... DALLAS -- City Credit Union Chairman Huey May is reaching into his own pocket to give away $2,400 this year to help low-income students develop a habit for saving money, and he says he'll do so every year until the day he dies. May will...

Breaches Have Not Led To Run On Card Stock, Say Analysts.
February 12, 2007... DALLAS -- Tales of credit card stock's demise in the fact of the massive data breach at TJX have been somewhat exaggerated, according to several card processors. "When we saw the news article on this, we said, 'well, that's news to us,' "...

On Deadline.(partnerships and cases of credit union)(acquisitions of financial software industry)
February 12, 2007... CUNA Confirms It May Pursue UBIT Litigation WASHINGTON-CUNA confirmed last week what it had earlier told the Credit Union Journal, that it may join with other members of the Unrelated Business Income Tax (UBIT) Steering Committee and pursue...

Despite Cards, CUNA Mutual's Earnings Rise 36% During 2006.(Financial report)
February 12, 2007... MADISON, Wis. -- CUNA Mutual Group saw a 36% rise in fiscal year 2006 earnings to $178.1 million, despite skyrocketing losses from credit card fraud. "What is really exciting about this is that our earnings grew by $47 million, or 36%,...

Notes On CUNA Mutual's 2006 Performance.(Cuna Mutual Group)(Financial report)(Brief article)
February 12, 2007... Notes from CUNA Mutual CEO Jeff Post on company's 2006 financials: Operating Gain: $178.1 million, or $47 million (36%) increase over 2006 Revenue (includes investment income) $2.894 billion Operating Revenue: $2.397 billion ...

Also In The Wings.(Cuna Mutual Group's pension plans)(Brief article)
February 12, 2007... MADISON, Wis. -- Among the other projects CUNA Mutual is piloting, according to CEO Jeff Post: * "We have the No. 1 pension and 401(k) product for employee groups under 30, but right now you can't buy it if you have no credit union...

Card Losses Remain A Tough Question.(Brief article)
February 12, 2007... MADISON, Wis. -- Measuring credit card losses-at least those covered by CUNA Mutual Group's bond-has become something of a "chicken or the egg" question. "It's kind of hard to tell," said CMG CEO Jeff Post. "When we raised rates in...

State Stat-Shot.(List)
February 12, 2007... Throughout 2007, the Credit Union Journal, in conjunction with ENCORE Card Services, are 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...

Worth Noting.
February 12, 2007... Free Online Risk Web Seminar WEST PALM BEACH, Fla.-With online phishing scams projected by some to continue to grow at 15% per quarter, the Credit Union Journal, in conjunction with MarkMonitor, will host a free, one-hour web seminar on...

CEO To Share Successes Of MFCU's Move To Community Charter.(Merrimack Valley Federal Credit Union's John MacDonald)(Interview)
February 12, 2007... NORTH ANDOVER, Mass. -- In the wake of its conversion to a community charter, Merrimack Valley FCU has had to become an expert juggler, balancing the fears of its SEGs with the need to expand into the community and understand the cultural...

About The Conference.
February 12, 2007... WHAT: Credit Union Journal's Business Development & SEG Conference WHEN: April 12 & 13 WHERE: The Hyatt Hotel, Boston THE SKINNY: Credit Union Journal's Business Development & SEG Conference is dedicated to strategies for growing,...

NOW In The MARKET.(Baker Hill Portfolio Risk Advisor software)(Ceto and Associates added 56 New Clients)(Eastern Corporate Federal Credit Union in partnership with Members Trust Co.)
February 12, 2007... Portfolio Risk Advisor Available CARMEL, Ind.-Baker Hill, a unit of Experian, has released Portfolio Risk Advisor, a solution it said leverages the power of Experian data and analytics and Baker Hill's risk-management expertise. Portfolio...

Credit Unions In The Media.(Brief article)
February 12, 2007... The Wichita Eagle did a story about Mid American Credit Union, Catholic Family Federal Credit Union and the Wichita branch of America's Christian Credit Union sharing branches. Marilyn Wells, Catholic Family Federal's president, said it's the...

Account Aimed At Immigrants Drags Desert Schools Into Divisive National Debate.(Desert Schools Federal Credit Union's marketing of savings account to illegal immigrants)
February 12, 2007... PHOENIX -- Desert Schools Federal Credit Union has found itself in the middle of the rancorous national debate on immigration when local-and later national-media reports accused the credit union of marketing a savings account to illegal...

This Year's 'Frankie' Award Winner Lets Members Share Their 'Feets'.(Editorial)
February 12, 2007... How do you tell your story? Seems simple enough. Here's what we are. Here's why we do what we do. Here's how we're different. Those are the three legs of the marketing stool. But I would challenge any reader-and have-to tell me of an...

1st Runner Up Sums It All Up In One Sentence.(Century Heritage Federal Credit Union's Vin Cerasuolo)
February 12, 2007... WEST MIFFLIN, Penn. -- The first runner-up in the Frankies goes to Century Heritage FCU, which, by coincidence, does a terrific job of communicating the century of heritage that credit unions have. Few CEOs take as much time to explain to...

The Frankie Award Honorable Mentions.(Ticonderoga Federal Credit Union)(South Carolina Federal Credit Union)
February 12, 2007... * The $48-million Isabella Community Credit Union in Mt. Pleasant, Mich., which operates a student-run credit union at Mt. Pleasant High School in conjunction with the Mt. Pleasant Area Technical School and the MPHS Accounting Class to operate...

The Evolving ATM: Dispensing Cash Nice, But Payback Nicer.(Automated teller machines)
February 12, 2007... CHICAGO -- ATMs-they're not just for quick cash anymore. While many CU insiders might think of technology, cash, and maintenance costs when discussing ATMs, experts and users told the Credit Union Journal that cash-dispensing machines,...

Study: Usage of Debit Cards By Small Business Is On The Rise.
February 12, 2007... ATLANTA -- Since 2004, usage of debit cards by small businesses has increased, according to a recent research study by Synergistics Research Corp., entitled, "Marketing Small Business Checking Accounts." Slightly more than one-third of...

Compromised Card Report Debuts.(CO-OP Financial Services )(Brief article)
February 12, 2007... ONTARIO, Calif. -- CO-OP Financial Services has created the Compromised Card Activity report to enable card issuing clients to review activity for at risk card numbers identified through Visa CAMS or MasterCard Alerts. The report, which is...

CU24 Switch Conversion Finished.(Credit Union 24 Inc.)(Brief article)
February 12, 2007... TALLAHASSEE, Fla. -- Credit Union 24, the credit union-owned ATM and POS network, has completed its switch-processor conversion from Fiserv EFT to Fifth Third Processing Solutions. The conversion caused no unscheduled outages, was...

Golden 1 Rebates $4 Million.(The Golden 1 Credit Union)(Brief article)
February 12, 2007... SACRAMENTO, Calif. -- The Golden 1 Credit Union paid more than $4 million in annual rebates to its Visa cardholders. The 1% cash rebates were paid for qualified purchases made with a Golden 1 Visa card during 2006. Since The Golden 1 Visa...

ATM Deployment Key For 1 Small CU As It Leaves Its Old FOM Behind.(Generations Credit Union)
February 12, 2007... ROCKFORD, Ill. -- When its employee-based membership began to shrink due to a corporate takeover, Generations Credit Union converted to a community charter. And that meant adding ATMs throughout that community to add new blood. ATMs not...

Old: Kids' Allowances New: Now Online: Service Takes 'Allowances Into The Electronic Age' - And A Reminder To Do Chores.(PAYJr. Inc.)
February 12, 2007... DALLAS, Texas -- An idea to allow kids to make their own online purchases has expanded into a pre-paid card system that might also create a new revenue stream for credit unions. PAYJr., Inc., CEO David Jones said around four years ago, his...

Debit Card Rewards Program Stresses Lower Price Point.(CO-OP Financial Services)
February 12, 2007... ONTARIO, Calif. -- CO-OP Financial Services has just rolled out a reward program for debit cards designed to allow credit unions to generate deposits and increase member services that also seeks to take a cooperative approach to make it...

TNB Acquired 21 Portfolios In 06.(TNB Card Services)(Brief article)
February 12, 2007... DALLAS -- TNB said ended 2006 with the acquisition of 21 credit card portfolios it purchased from credit unions across the U.S. Most recently, it acquired portfolios from Northeast Panhandle Teachers FCU of Perryton, Texas; Southern Lakes CU of...

Gift Cards For Smaller Biz.(MasterCard Worldwide )(Brief article)
February 12, 2007... PURCHASE, N.Y. -- MasterCard Worldwide introduced a service offering small businesses a direct method for ordering and personalizing MasterCard-branded gift cards. The gift card can be customized with a company logo, a recipient's name and an...

3 CUs Move To Covera.(credit unions)(Brief article)
February 12, 2007... LATHAM, N.Y. -- Covera Card Solutions signed three new credit unions to its services: First Source FCU, New Hartford, N.Y., Niagara County's FCU, Lockport, N.Y. (both joined the ATM network) and People's Transport FCU, Camden, N.J. (for EFT...

Tower FCU Selects CardWizard.(federal credit union contracts with Dynamic Card Solutions )(Brief article)
February 12, 2007... ENGLEWOOD, Colo. -- Card issuer Dynamic Card Solutions said that Maryland-based Tower FCU has chosen its CardWizard to instantly issue debit cards to its more than 115,000 members. Following a pilot program, Tower placed CardWizard in all of...

Indiana's Teachers CU Rolls Out Procurement Credit Card To Select Employee Groups.
February 12, 2007... SOUTH BEND, Ind. -- After revamping its own procurement process by the means of a specially designed credit card, one CU is now offering the added convenience-and cost-cutting-to its select employee groups. "It's like buying everything on...

Florida CU Creates Savings Product For Kids In Foster Care.(Central Florida Educators' Federal Credit Union)
February 12, 2007... ORLANDO, Fla. -- Central Florida Educators FCU has created savings accounts to teach local foster kids how to save and learn about finances, a move the CU hopes might help grow its membership in the process. CFEFCU is partnering with the...

Psychological Evaluation Delays Pretrial Conference For Ex-CEO.(Brief article)
February 12, 2007... WARREN, Mich. -- A pretrial conference has been postponed to allow for psychological evaluation of David Lance Rauch, former CEO of Tandem Credit Union, who has been charged with using the Internet to arrange a date to have sex with a...

Iowa CUs Visit Panama.(credit unions)(Brief article)
February 12, 2007... MADISON, Wis. -- Five delegates from the Iowa Credit Union League spent a week in Panama to support the educational and lobbying initiatives of Panama's credit union league (COFEP) to establish credit union regulation. The visit grew out of the...

Chair On The Air.(National Credit Union Administration's JoAnn Johnson )(Brief article)
February 12, 2007... NCUA Chairman JoAnn Johnson was a guest on "Home & Family Finance Radio," the weekly personal finance radio show produced by CUNA. She talked about the importance of financial education and the free educational resources available to consumers...

Now In The Market.(Cuna Mutual Group's Collateral Protection Insurance)(Workway Expands Into IT Staffing)(Bankdetect.com's website redesigned)
February 12, 2007... 5 CUs Select Collateral Protection MADISON, Wis.-Five credit unions that made more than $200 million in vehicle loans in 2005 have chosen CUNA Mutual Group's Collateral Protection Insurance (CPI) to help mitigate the risks of loss from...

Record Capital Build-Up at CUs Could Harm CURIA Bid.(Credit Union Regulatory Improvements Act)(Brief article)
February 12, 2007... WASHINGTON -- CUNA reported that credit unions ended 2006 with a record amount of capital-11.4%, even as CUs around the country were giving away much of their reserves by the millions in year-end bonuses and extraordinary dividends. While...