Credit Union Journal articles from January 2009

Credit Union Journal archives from January 2009

Toolbox For 2009.
January 5, 2009... WEST PALM BEACH, Fla.-It's an annual rite when previewing a new year to predict it will be "challenging." For 2009, that prediction is likely to be an understatment. For those reasons and more, Credit Union Journal kicks off 2009 with an...

Relationships-With Citizens Of Small Town & In Pricing-Help Boost SFCU.(News)
January 5, 2009... Byline: Matt Blumenfeld, Reporter SLEEPY EYE, Minn.-Focusing on the long-term for both the credit union as a whole and the relationship with each individual member has helped Southpoint Federal Credit Union earn the number-two spot on...

Task Force Crafts Detailed Guide To The Due Diligence Process.(News)
January 5, 2009... Byline: Matt Blumenfeld, Reporter MADISON, Wis.-Credit unions and vendors alike now have a detailed guide to the due diligence process thanks to nine months of work by a task force put together by CUNA. Credit union CEOs, NCUA...

NOW IN THE MARKET.(News)
January 5, 2009... Marketing Paper Released MADISON, Wis.-CUNA Strategic Services and Datatrac have released a white paper titled "Differentiate Your Credit Union With Award-Based Marketing: 7 promotional strategies that turn competitive rates into gold."...

RCU Takes On Troubled REAL Financial CU.(News)
January 5, 2009... Byline: Matt Blumenfeld, Reporter EAU CLAIRE, Wis.-Royal CU, the fifth largest credit union in the state, has reached over the border to Minnesota and merged with troubled REAL Financial CU. The move, which was given special approval...

A Toolbox Full of Good Ideas, a Lesson From One Of The Worst.(Views & Opinion)
January 5, 2009... Byline: Frank J. Diekmann By the time credit unions get to Washington in late February for CUNA's GAC, there may not be any room for them. That's because, as the new year begins, it's hard to find anyone or any special interest who isn't...

CALENDAR.(Views & Opinion)(Brief article)(Calendar)
January 5, 2009... FEBRUARY Feb. 1-5 CUES Symposium 2009: A CEO/ Chairman Exchange. St. Kitts Marriott Resort & The Royal Beach Casino, Saint Kitts and Nevis. Hotel: www.marriott.com. For info: www.cues.org or 800-252-2664. Feb. 9-11 CUES...

Steep Decline In Mortgage Rates Offers a Sharp Increase In Opportunity.(Views & Opinion)
January 5, 2009... Byline: Bob Hoel American households are beginning to receive some good news about the severe economic downturn: Interest rates on mortgages and consumer loans are falling. Rates on trillions of dollars of existing bank loans owed by...

Why Time Is A Friend To Credit Unions.(Views & Opinion: 100 Years, 100 Voices)
January 5, 2009... Byline: Brad Beal In this, the centennial anniversary of credit unions, I can think of many examples throughout myA 22 years in the credit union world that personify the credit union spirit.A But perhaps none so singularly as a recent...

Focus On History, Yet Opportunity Lies In Future.(Views & Opinion: 100 Years, 100 Voices)
January 5, 2009... Byline: Steve Delfin I still remember the toughest question posed to me during my first job interview at the National CU Foundation: "How is your experience at a for-profit international management firm relevant to running a non-profit...

CU Forecast: Bouncing On The Bottom; 'Trough' Is Projected At Mid-Year; Some Analysts See Opportunities For Credit Unions.(Strategies for 2009: CUJ Toolbox: Economy)
January 5, 2009... Byline: Matt Blumenfeld, Reporter MADISON, Wis.-The economic forecast for 2009 leaves a lot to be desired, but the new year could provide more opportunities to benefit from the banking crisis before a slow recovery begins, several...

Eyes Turn To Washington For Legislative Priorities.
January 5, 2009... Byline: Lisa Freeman & Stacy Kaper, SourceMedia WASHINGTON-There's no question where the new Congress' and the Obama administration's legislative priorities will lie-economic stimulus. The question is how credit unions can demonstrate that...

National Forecast: 'Extremely Bearish'; Goldman Sachs Sees 12 to 18 Months Of 'Pain' Before A Rebound Can Occur.(Strategies for 2009: CUJ Toolbox: Economy)
January 5, 2009... Byline: Matt Blumenfeld, Reporter NEW YORK-2009 will continue the trend seen at the end of last year as the American economy speeds headlong into the trough of one of the nastiest recessions on record, according to one analyst's...

2009 May Be End of Road For Many Dealers.(Strategies for 2009)(Brief article)
January 5, 2009... McLEAN, Va.-Credit unions should start preparing for some potential big changes in the new year that could affect both indirect loan agreements and auto lending overall. The National Automobile Dealers Association is projecting that about 2,000...

Treasury Reports 92 Banks Get Capital Help.(Strategies for 2009)
January 5, 2009... WASHINGTON-The Treasury Department is reporting that another 92 financial institutions have received $4.7 billion through its Capital Purchase Program. Of the 43 investments for which the Treasury provided details, the largest-$968 million-went...

The Upside To A Down Economy: Cost To Build Branches Has Declined.(Strategies for 2009: CUJ Toolbox: Branches)
January 5, 2009... Byline: Ray Birch, Correspondent MILWAUKEE, Wis.-Credit unions considering tapping into capital this year to build new locations should like the price tag, said one strategic planner who suggested that timing of branch openings will be key...

One 09 Worry: Some CUs Will Put Tactics Before Strategy.(Strategies for 2009: CUJ Toolbox: Planning)
January 5, 2009... Byline: Ray Birch, Correspondent LOS ANGELES-One analyst is expressing concern that a second wave of home foreclosures could lead credit unions to start putting tactics before strategy and to make short-term decisions related to capital....

Pressure On Capital May Put New Pressure On Mergers.(Strategies for 2009: CUJ Toolbox: M&A In CUs)
January 5, 2009... Byline: Ray Birch, Correspondent ATLANTA-Credit quality issues that continue to erode capital at underperforming institutions will significantly quicken the pace of credit union mergers in 2009, predicts one strategic planner who views the...

Expanded Underserved Service Among Resolutions? Study Offers A Guide.(Strategies for 2009: CUJ Toolbox: Underserved)
January 5, 2009... CHICAGO-Targeting the "underserved and underbanked" market in 2009? A new study has identified the preferences and attitudes about financial services among eight such consumer segments. The study, released by the Center for Financial...

2009 Goal: To Create A 'Culture Of Savings'.(Strategies for 2009)
January 5, 2009... DURHAM, N.C.-For 2009, Latino Community CU (LCCU) has been awarded a $60,000 Innovation Grant from the National Credit Union Foundation (NCUF) to create a "Culture of Savings" throughout a state that has one of the fastest-growing Latino...

PEOPLE.(Strategies for 2009)
January 5, 2009... Bay FCU, Capitola, Calif., named Amy Ivey assistant vice president of marketing and development. Mid-Hudson Valley FCU, Kingston, N.Y., named Jessica Verzi vice president of risk management. Aberdeen Proving Ground FCU, Md., named...

Surprise: Many Say They Plan To Buy A Home During 2009.(Strategies for 2009)
January 5, 2009... ATLANTA-In contrast to what the pessimism the housing market would seem to imply, a new study found that many people expect to purchase a home within the next two years. The data, from SYNERGISTICS Research and included in a report titled, "The...

New Year, New Rates; Why 1 CU Is Starting Off 2009 By Slashing Its New Auto Loan Rate.
January 5, 2009... Byline: Ray Birch, Correspondent COLORADO SPRINGS, Colo.-One credit union is starting off 2009 with an attempt to grab share before other financials follow suit, slashing its 36-month auto loan rate to 2.99%. The offer, which Air...

With Banks Projecting IT Budget Cuts, Study Sees Opportunity For CUs On Deals.(Strategies for 2009)
January 5, 2009... FRAMINGHAM, Mass.-Banks are projecting a decline in IT spending and overall smaller IT budgets for 2009, according to a report by Financial Insights that suggests there may be some pricing bargains to be had by CUs on technology. For 2009,...

Seven Trends That Will Drive CU Decision-Making In The New Year.(Strategies for 2009: CUJ Toolbox: Risk)
January 5, 2009... Byline: Frank J. Diekmann, Publisher ORLANDO, Fla.-Acknowledging the dominant issue of heading into 2009 is the credit crisis and related credit risk, Harland Financial Solutions said it has identified seven trends that are affecting credit...

How To Better Capture Youth During 2009.(Strategies for 2009)
January 5, 2009... MADISON, Wis.-Credit unions planning to expand into or do a better job of retaining the young consumer market in 2009 can leverage a new study to better understand what drives this market's behavior. The study from the Filene Research...

How To Help Members Feeling The Stress.(Strategies for 2009: CUJ Toolbox: Consumers)
January 5, 2009... MADISON, Wis.-It's likely many members will be feeling increased debt-related stress in 2009. A new report offers suggestions on how such stress affects different members. The report, part of an ongoing effort to analyze issues affecting...

Insights Into How The Economy Will Affect Hiring, HR Are Shared.(Strategies for 2009: CUJ Toolbox: HR)
January 5, 2009... Byline: Ray Birch, Correspondent MADISON, Wis.-Credit union hiring is expected to be flat in 2009, and with a dismal economic outlook, this year could begin a trend to improve member-to-employee ratios as CUs seek to sustain growth with...

cujournal.com SURVEY.(Strategies for 2009: CUJ Toolbox: HR)
January 5, 2009... Hiring to be flat, have budgeted for raises 43% Hiring to be flat, not budgeted for raises 9% Adding positions, increasing pay 19% Adding positions, but no raises 2% Reducing positions 27%

Risks, Rewards In Hiring Ex-Bankers.(Strategies for 2009)
January 5, 2009... ARLINGTON, Va.-In a time when credit unions may be hard-pressed to add staff, 2009 presents the opportunity to add talented members from the banking community who have been displaced, observed one person. But there are also risks. "As long...

Consumers 'Think' Green, But Don't Act That Way.(Strategies for 2009: CUJ Toolbox: Going 'Green')
January 5, 2009... SAN FRANCISCO-Planning to build some of your credit union's marketing around being "green" in 2009? A new study shows that consumers have more of an interest in "thinking" green than actually "acting" green. The study from Javelin Research...

Four Viewpoints On How The Economy, Other Issues Will Affect HR In New Year.(Strategies for 2009: CUJ Toolbox: HR)
January 5, 2009... Byline: Ray Birch, Correspondent WEST PALM BEACH, Fla.-Credit unions that hope to keep staff performance high in a year in which employees will be asked to do more, should beef up internal communications skills. Employees will have to cope...

Nervous Tellies; Soothing Employee Worries.(Strategies for 2009: CUJ Toolbox: HR)
January 5, 2009... Byline: Ray Birch, Correspondent PHOENIX-Jennifer Godel, AVP, human resources and training at the $3-billion Desert Schools FCU in Phoenix, said the biggest issue facing HR teams is employees being "nervous" about the possibility of...

What To Do With Capital, ROA Hot Topics As Year Begins.
January 5, 2009... Byline: Ray Birch, Correspondent ARLINGTON, Va.-Decisions regarding the function of capital are expected to get a lot tougher for credit unions in 2009 as many wrestle with shrinking net income, and others are content to keep that number...

Role Expansion; Boosting Staff Skills.(Strategies for 2009: CUJ Toolbox: HR)
January 5, 2009... Byline: Ray Birch, Correspondent SAN JOSE, Calif.-Michelle Greear, AVP training and career development at the $1.3-billion Technology CU in San Jose, Calif., sees 2009 bringing more cross-training opportunities, both to benefit employees...

Message Merger; Avoiding Emotional Decisions.(Strategies for 2009: CUJ Toolbox: HR)
January 5, 2009... Byline: Ray Birch, Correspondent OGDEN, Utah-Communications will play an important role in keeping staff focused in the event of a merger, shared Kent Streuling, VP of human resources for the $4.5-billion America First Credit Union, and...

Eye On Training; Don't 'Miss The Boat'.(Strategies for 2009: CUJ Toolbox: HR)(Brief article)
January 5, 2009... Byline: Ray Birch, Correspondent WEST JORDAN, Utah-Suzanne Oliver, SVP educational services and chief learning officer at the $2.8-billion Mountain America CU, sees a greater emphasis being placed on training and education of the entire...

Caution Urged In Expanding Cross-Training Of CU Staff.(Strategies for 2009: CUJ Toolbox: HR)(Brief article)
January 5, 2009... OGDEN, Utah-Cross training is going to be a critical personnel issue in 2009, according to several analysts, but at least one is urging caution. "In a tight economy where you are going to have limited growth, cross-training is vital,"...

The Number-One Thing To Do.(News: Four Views On Credit Union Capital)
January 5, 2009... Byline: Ray Birch MADISON, Wis.-Concerned as well with shrinking margins and "glad the capital is there," CUNA Mutual Group Chief Economist Dave Colby said the current high average capital levels give "a little cushion to credit unions...

Too Much Capital? Use It.(News: Four Views On Credit Union Capital)
January 5, 2009... Byline: Ray Birch MADISON, Wis.-Can a credit union have too much of a buffer? Mike Schenk, CUNA VP of economics and statistics, feels that having strong capital today creates a "necessary buffer. I think more credit unions are...

Time To Drive Hard Bargains.(News: Four Views On Credit Union Capital)(Brief article)
January 5, 2009... Byline: Ray Birch FLORENCE, Ky.-One person is advising credit unions to use some of their capital in driving hard bargains with competitors facing even more strained capital positions. Dr. Carl Fredrickson, president of Carl...

Help Those In The Rain.(News: Four Views On Credit Union Capital)
January 5, 2009... Byline: Ray Birch TUSCALOOSA, Ala.-If capital is indeed to protect against rainy days, then one person is advising credit unions to use it for those who are getting wettest. William Jackson, professor of finance at the University of...

Connex, Seasons Join Forces In Connecticut To Expand Their ATM, Branch Networks.(News: Four Views On Credit Union Capital)
January 5, 2009... Byline: Matt Blumenfeld, Reporter NORTH HAVEN, Conn.-Two local credit unions are coming together to offer their members shared ATM access across the region. Connex Credit Union and Seasons Federal Credit Union members can now use one...

ON DEADLINE.
January 5, 2009... Landmark UBIT Trial Postponed In Colorado WASHINGTON-A federal judge has delayed the trial date of a Colorado credit union's lawsuit against the IRS over the tax agency's application of the Unrelated Business Income Tax (UBIT). ...

Annual Dividend Helps CUs Differentiate Themselves From Other Troubled Financials.(News)
January 5, 2009... Byline: Ed Roberts, Washington Bureau Chief WASHINGTON-Hard times have not prevented some credit unions from delivering their annual holiday gift to members, the bonus dividend. "With the national economy experiencing a financial crisis...

Bonus Time Is Proof Of Strength.(News)
January 5, 2009... WASHINGTON-Credit unions giving out year-end bonus dividends this year have been using the age-old CU tradition as a way to demonstrate their financial strength even in the midst of a financial crisis. Among the credit unions offering some...

Bank Failures Actually Far Fewer Than Predicted For 2008.(News)
January 5, 2009... WASHINGTON-When 2008 made its debut some were predicting that as many as several hundred banks would fail and would be taken over by regulators. Yet while the year saw the collapse of Washington Mutual as well as the largest bank failure in...

WORTH NOTING.(News)
January 5, 2009... NCUA Loan Eval Guidance Unveiled WASHINGTON-NCUA has released the guidance and questionnaire its field staff will be using to assist in evaluation of loan participation programs. The guidance stresses CUs must apply the same principles...

Corporate CUs Propose New Financing Through The CLF.
January 12, 2009... Byline: Ed Roberts, Washington Bureau Chief ALEXANDRIA, Va.-Strapped for liquidity as paper losses grow on their asset-backed securities, the corporate credit unions have proposed a comprehensive restructuring of the system that would...

CUJ Toolbox: 3 Voices On Lending.(Strategies for 2009)(forecast of credit unions)(Brief article)
January 12, 2009... Byline: Joyce Moed, Reporter WEST PALM BEACH, Fla.-Credit union lending officers aren't expecting 2009 to offer much improvement over 2008, although some see opportunity in reverse mortgages, private student loans and refi's. That's...

Back To The (Lending) Future; Manual Underwriting Could Make Comeback.(Strategies for 2009)
January 12, 2009... Byline: Joyce Moed, Reporter COLORADO SPRINGS, Colo.-Could a return to manual loan underwriting in 2009 be a key to lending success. Bill Vogeney believes it may. Vogeny, secretary/treasurer of the CUNA Lending Council and senior...

Play To Strength; Some Loans Will Stay Steady.(Strategies for 2009)(Claire Ippoliti)(student loans)(Brief article)
January 12, 2009... Byline: Joyce Moed, Reporter PHILADELPHIA-One lender here is expecting the new year to offer growth in student lending and perhaps mortgages, but auto will be weak. Claire Ippoliti, VP of lending for Philadelphia Federal Credit Union,...

Seeking Relief; Expect Same Troubles In 2009.(Strategies for 2009)(Lloyd Gill)(Brief article)
January 12, 2009... Byline: Joyce Moed, Reporter FORT LAUDERDALE, Fla.-Was 2008 a tough year when it came to lending? One person doesn't expect early 2009 to offer much relief. Lloyd Gill, EVP and chief lending officer of City CU, and chair of the CUNA...

Marketing Must Show ROI Or Face Cuts.(Strategies for 2009: CUJ Toolbox: Marketing)
January 12, 2009... Byline: Matt Blumenfeld, Reporter MADISON, Wis.-Credit union marketers are feeling the economy's squeeze on their budgets, and facing a new year's challenge of clearly demonstrating the marketing function's ROI. "Credit unions have to...

Four Strangers In A Thunderstorm: Why It Is Worth Remembering.(Views & Opinion)
January 12, 2009... Byline: Frank J. Diekmann It only occurred to me after I had climbed into the back seat of the rental car with three strangers that this might become one of those stories tucked inside the local news section of the paper. Dead man found on...

The Real Value Behind Net Promoter Score: Action Items It Uncovers.(Views & Opinion)(Brief article)
January 12, 2009... Byline: Neil Goldman NPS, net promoter score, as typically implemented through the "likely to recommend" zero to 10 question, remains a buzz in credit union marketing, primarily because it is simple to implement and easy to understand. It...

cujournal.com SURVEY.(Views & Opinion)
January 12, 2009... In 2009, for secondary capital, I would forecast: No changes to the current system 12% Lots of discussion, but no changes 55% Legislation providing expanded powers will be proposed 33%

2009 Resolution: Build Marketshare, Loyalty By Targeting Card Promos.(Views & Opinion)
January 12, 2009... Byline: John Pembroke If the current economic situation makes you want to forego marketing your credit card portfolio-think again. 2009 offers an unprecedented opportunity for credit unions to gain market share, reach out to worthy...

A Recognition Borne From The Death of a Friend; Personal Recollections of CUs: A CU Journal Series.(Views & Opinion: 100 Years 100 Voices)
January 12, 2009... Byline: Cliff Rosenthal It was a warm Friday evening in July 1997, and we had just returned home from the World Council of Credit Unions forum in Vancouver, BC. We greeted Rachel, our long-time friend and co-owner of the cooperative house...

Where It Pays To Belong; Dividends Can Be Key Differentiator, But Should Capital Be Tapped?
January 12, 2009... Byline: Ray Birch, Correspondent LOMBARD, Ill.-Credit union special dividends and year-end bonuses may be down slightly this year, observed industry experts, who suggested that those that have managed to increase dividends may drive...

Going Home From Work Feeling Good, Just Like Mom; Personal Recollections of CUs: A CU Journal Series.(Views & Opinion: 100 Years 100 Voices)
January 12, 2009... Byline: Brett Martinez As I was growing up, my mother was the CEO of a credit union, so in a way I've been in the credit union industry my entire life. From an early age I can remember the sense of family and community I felt among staff...

Despite Continued Losses, High Desert Management Insists It's Not Merger Bait.(News)
January 12, 2009... Byline: Michael Bartlett, Reporter APPLE VALLEY, Calif.-High Desert FCU, which was taken into conservatorship by NCUA in October, continues to post losses and capital has declined to nearly 2%, but management insists the credit union is...

UW CU Raises $1.5M For University of Wisconsin.(News)
January 12, 2009... MADISON, Wis.-UW Credit Union's fundraising drive for the University of Wisconsin and Madison Area Technical College raised more than $1.5 million. The credit union announced it was donating $215,000 for need-based financial aid in...

CU SIP Raises $5 Billion For U.S. Central And Wescorp.(Washington Watch)
January 12, 2009... Byline: Analysis by Ed Roberts ALEXANDRIA, Va.-NCUA said the initial offering of the CU System Investment Program, aimed at pumping new liquidity into the neediest corporate credit unions, will result in $4.9 billion being provided this...

NCUA Reconfigures Examiner Assignments.(Washington Watch)
January 12, 2009... Byline: Analysis by Ed Roberts ALEXANDRIA, Va.-NCUA said last week it has reassigned the supervision and examination of Alaska and Nevada credit unions in order to allocate more resources to troubled credit unions. In addition, NCUA's...

Congress Opens With New Bid On Mortgage 'Cram-Downs'.(Washington Watch)
January 12, 2009... Byline: Analysis by Ed Roberts WASHINGTON-Credit unions were be put on the defensive at last week's opening of the 111th Congress with the introduction of 20 new bills that would allow bankruptcy courts to restructure at-risk mortgages....

CUNA Predicts More Storm Clouds Ahead For CUs.(Washington Watch)
January 12, 2009... Byline: Analysis by Ed Roberts WASHINGTON-In a sign of future troubles, the loan delinquency rate for credit unions moved up in November to almost 1.3%, from almost 1.2% the month before, according to CUNA. The increase portends higher...

PEOPLE.(Washington Watch)
January 12, 2009... St. Vrain Valley CU, Longmont, Colo., announced that Orlando Ortega was named volunteer of the year by the Credit Union Association of Colorado. Wauna FCU, Clatskanie, Ore., named Sue Whitton employee of the quarter. The Missouri...

AGENDA.(Washington Watch)
January 12, 2009... Hearings Senate Hearing on the presidential nomination of Shaun Donovan to the post of Department of Housing and Urban Development Secretary. Events CUNA Governmental Affairs Conference, Feb. 22-26. Comment ...

CEO Resigns Amid Big Losses.(News From cujournal.com)
January 12, 2009... RICHARDSON, Texas-Texans CU CEO David Addison has resigned amid recent legal turmoil and as the credit union is about to announce a $22-million losss for the fourth quarter and a $29 million loss for 2008-its first ever annual loss. ...

ON DEADLINE.
January 12, 2009... 3 More CUs Announce Annual Dividends DEARBORN, Mich.-Three more credit unions have joined the wave of CUs announcing year-end bonuses including: *DFCU Financial FCU, here, issued a $17-million annual bonus dividend. *Clark County...

Member Wins $25,000 Prize.(News From cujournal.com)
January 12, 2009... DALLAS-A displaced auto worker saved her way to Neighborhood CU's $25,000 savings contest grand prize. Tiniska Brooks, who took an employee buyout from General Motors and plans to go to nursing school, was notified of her grand prize at her...

HOPE Acquires Troubled CDCU.(News From cujournal.com)(HOPE Community Credit union acquiring American Savings Credit union)(Brief article)
January 12, 2009... JACKSON, Miss.-Fast-growing HOPE Community CU has agreed to acquire American Savings CU, an ailing Memphis, Tenn.-based community development credit union of similar size. American Savings reported $1.5 million in losses on $48 million in...

WOCCU's World Gets Larger.(News From cujournal.com)
January 12, 2009... MADISON, Wis.-The World Council of Credit Unions' world has gotten a bit larger. The Ghana Co-operative Credit Union Association (CUA) and Seychelles CUhave joined its membership, effective Jan. 1. CUA has 322 member CUs serving 242,000...

The Credit Union Contribution to America 100 Years.(Credit Unions in America: The Golden Anniversary)
January 12, 2009... Byline: Jim Jerving, Correspondent TEMPE, Ariz.-For many of us, the memory of our first loan lingers on like a bad dream that never seems to go away. That was the experience more than 40 years ago for a young man applying for his first car...

Why Are Credit Unions Called 'Credit Unions?'.(Credit Unions in America: The Golden Anniversary - The Credit Union Archives)
January 12, 2009... Why are credit unions called credit unions? The term, after all, has set off a century of debate in the U.S. over whether another name would be better, perhaps something that also can be a verb used in place of "banking." "Credit unioning," for...

'It Touched Me, Too'.(Credit Unions in America: The Golden Anniversary)
January 12, 2009... SAN DIEGO-Al George was the last volunteer to serve as chairman of CUNA in the late 1970s. He is still on the boardof North Island FCU in San Diego, Calif. He recalls the family atmosphere of the CU where he worked at San Diego Gas & Electric....

Where Do CUs Go Now?(Credit Unions in America: The Golden Anniversary)
January 12, 2009... TUSCALOOSA, Ala.-Where do credit unions go from here to ensure that they are relevant for the next century? Some of that will be answered in the role credit unions have played, both good and bad, in the financial meltdown of 2008. One area...

The Concept Is Hatched.(Credit Unions in America: The Golden Anniversary)(cooeratives and credit unions)(Brief article)
January 12, 2009... ROCHEDALE, England-One of the fundamental taproots of credit unions reaches back to an organization that was not a financial institution. By the late 1800s England had developed a strong movement among cooperative institutions, beginning with...

First CUs In North America Sprout In Canada.(Credit Unions in America: The Golden Anniversary)
January 12, 2009... QUEBEC, Canada-Credit unions came to the United States from French-speaking Canada (see related story, page 26). In Canada, the first "caisse populaire" was created in LA[c]vis, Quebec, in December 1900 by AlphonseA Desjardins. Outside Quebec,...

How CUNA Came To Be Organized.(Credit Unions in America: The Golden Anniversary)
January 12, 2009... ESTES PARK, Colo.-Few photos are as iconic to credit unions as that shown below, the 1934 meeting in Colorado at which the Credit Union National Association (CUNA) would be formed. Like so many other events in history, it came about as the...

GM, Chrysler Expand Invest In America.(News)
January 12, 2009... Byline: Ray Birch LANSING, Mich.-Due to CU member response and sales increases in the original 12-state pilot, GM and Chrysler have expanded participation in the Invest in America auto discount program and are now taking it nationwide. ...

The Man Behind The 'Little Man'.(Credit Unions in America: The Golden Anniversary)
January 12, 2009... BOSTON-It has become the most iconic symbol in U.S. credit unions. While the hands-and-globe logo has had several incarnations over its life, the "Little Man Under the Umbrella" was for decades the official logo of credit unions, and in the...

Early Organizers Respond To Opponents.(Credit Unions in America: The Golden Anniversary)
January 12, 2009... A fading chapter of credit union history is the challenges presented in getting CUs organized and chartered, especially from the 1920s through the 1940s. Representatives of a fledgling CUNA and later field representatives from state leagues...