Credit Union Journal articles from March 2009

Credit Union Journal archives from March 2009

Credit Unions Report First Ever Quarterly Loss.(Pain From Ailing Economy Being Felt Across Credit Unions)(Financial report)
March 2, 2009... Byline: Ed Roberts, Washington Bureau Chief ALEXANDRIA, Va.-The nation's credit unions reported a loss for the fourth quarter of 2008-a whopping $2 billion-the first quarterly loss ever for the industry, NCUA reported last week. The...

WORTH NOTING.(News)
March 2, 2009... Nominations For NAFCU Board Close Soon WASHINGTON-Three seats will be open in this year's NAFCU Board elections-two at-large directors and the Region I director. Candidate applications for the initial slate are due March 9 to NAFCU's...

Ideas, Tools & Strategies To Make The Most Of Your Online Presence.(News)
March 2, 2009... Byline: Matt Blumenfeld, Reporter WILMINGTON, N.C.-Credit unions who do not have a strong Internet presence could lose as much as 50% of all new account openings by the middle of the next decade, according to Bob Giltner, consulting partner...

Competitive Pricing, Cost Control Keeps CU On Top.(News)
March 2, 2009... Byline: Michael Bartlett, Reporter PORTLAND, Ore.-Continuity and a personal touch keep tiny Sunset Science Park FCU at or near the top of credit union rankings, according to its CEO. When told Callahan & Associates had named SSP FCU...

NOW IN THE MARKET.(News)
March 2, 2009... CO-OP FS Offers Mobile Banking RANCHO CUCAMONGA, Calif.-CO-OP Financial Services is now offering credit unions mobile banking and contactless cards payments. Working with mFoundry, CO-OP can provide mobile banking to members of all...

Credit Unions Came To DC With Questions, And, Well, Um...(Views & Opinion)
March 2, 2009... Byline: Frank J. Diekmann If you like your loose ends tied up or you're one of those "closure" people, then you're feeling a might uncomfortable right now, especially if you were at CUNA's Governmental Affairs Conference last week. ...

Get Your Ship In Shape!(Views & Opinion)
March 2, 2009... Byline: Frank J. Diekmann SAN DIEGO-Be among the first 85 people to register for Credit Union Journal's Grow Show, and you'll have the opportunity to hear some Blue Ocean strategies--literally. Get leadership insights from Capt. Mike...

CALENDAR.(Views & Opinion)(Brief article)(Calendar)
March 2, 2009... MARCH March 13-14 Utah League of CUs Annual Meeting, Salt Lake City Hilton Hotel: www.hilton.com. For info: www.ulcu.com or 801-972-3400. March 16-18 CA/NV Credit Union Leagues Big Valley Educational Conference, Monterey,...

Centenarian Shares More Than Just A Birthday With CU Movement.(Views & Opinion: 100 Years 100 Voices)
March 2, 2009... Byline: Harry Hahn My 100th birthday coincides with the credit unions' 100th birthday. I have been a volunteer for more than 50 years and experienced growth of services from just savings and loans to the multiple services now offered....

Tears, Hugs & Hope In Wake Of Hurricane Show CUs At Their Best.(Views & Opinion: 100 Years 100 Voices)
March 2, 2009... Byline: Debbie Pidek The days immediately following Katrina were so incredibly difficult for our employees as well as our members at Gulf Coast Community Federal Credit Union. The devastation in our area was such that many of our employees...

Corporates Worth Rescuing, But Let's Mitigate Burden.(Views & Opinion: 100 Years 100 Voices)
March 2, 2009... Byline: David A. Savoie Losses among some corporates have resulted in the planned corporate stabilization program and the NCUA ANPR, which have transcended the corporate network itself and clearly become an issue of vital concern to every...

Auditors: Take Wait-And-See Approach To Assessment.(Pain From Ailing Economy Being Felt Across Credit Unions)
March 2, 2009... Byline: Ray Birch, Correspondent YORBA LINDA, Calif.-Two national CPA firms are delivering much the same advice that was handed down to CUs at the GAC last week: Wait for more details from the NCUA and AICPA before making accounting plans...

What Do NCUA And Willie Sutton Have In Common? They Both Know Where The Money Is.(Letters To The Editor)
March 2, 2009... Byline: Peter J. Muise When the notorious bank robber Willie Sutton was asked why he robbed banks he replied "...because that's where the money is." While one would have hoped for a higher standard from the NCUA, the nation's credit union...

Liquidity Problems Are Easy; Accounting Is The Hard Part.(Letters To The Editor)
March 2, 2009... Byline: Rick Craig As the president of the 11th largest credit union in the country, I have followed, with considerable interest, the financial performance of U.S. Central, the corporates and the recent actions of NCUA. The corporate...

Credit Unions in the Media.
March 2, 2009... The Santa Cruz Sentinel reported that many local residents were voting "with their feet." The story noted that some customers of Washington Mutual, which was acquired by JPMorgan Chase, and Wachovia, was acquired by Citigroup, were moving to...

CU Sees 37% Increase In Mortgage Loans.(News)
March 2, 2009... Byline: Joyce Moed, Reporter WINSTON-SALEM, N.C.-While many financial institutions still feel the impact of the country's real estate downturn, one North Carolina CU is reporting an increase in its mortgage loans. Truliant FCU's closed...

Mortgage Apps Strong In 1 'Sand State'.(News)
March 2, 2009... Byline: Joyce Moed, Reporter PHOENIX-While holding out little hope for a recovery this year in this hard-hit real estate market, one CU said it is surprised at the high quality apps it has begun seeing. Arizona State CU noted things...

PEOPLE.(News)
March 2, 2009... Coventry CU, R.I., named Adam Quinlan vice president, commercial services. Randolph Brooks FCU, Live Oak, Texas, announced that Randy M. Smith was elected to the Federal Reserve Board's Thrift Institution Advisory Council. California...

CU Teams With Staples For Promo.(News From cujournal.com)
March 2, 2009... PEMBROKE PINES, Fla.-Power Financial CU and office retailer Staples announced a Small Business Makeover promotion offering small business owners the chance to evaluate their marketing and win a $1,000 Staples Gift Card. The $500-million...

Discount Mortgages Offered.(News From cujournal.com)
March 2, 2009... NEW BEDFORD, Mass.-Local credit unions and banks are teaming up for a program to help buyers purchase foreclosed properties in the city with state, local and private assistance. Potential home buyers interested in foreclosed properties are...

Deal Offered On Cell Phone Service.(News From cujournal.com)
March 2, 2009... HARRISBURG, Penn.-The Pennsylvania CU Association said its credit unions can now offer their members discounts on wireless phone services through Sprint Nextel. More than 240,000 credit union members nationwide are already receiving...

With Unemployment On The Rise, Members Seeing-& Using-Benefits Of Insurance.(Special Report: Insurance)
March 2, 2009... Byline: Matt Blumenfeld, Reporter MADISON, Wis.-Members may be wary to open their wallets for a lot of things, but CUs might find they are more open to insurance products, particularly those that take over loan payments when a member loses...

Losses Mount At U.S. Central, Other Corporates.(Pain From Ailing Economy Being Felt Across Credit Unions)
March 2, 2009... Byline: Ed Roberts, Washington Bureau Chief LENEXA, Kan.-Several corporate credit unions, already weighed down by losses on their mortgage backed securities, are delaying a final accounting for 2008 as they wait to determine how much of the...

Protecting Members From Downturn Boosts Revenue, Loyalty & Retention.(Special Report: Insurance)
March 2, 2009... Byline: Matt Blumenfeld, Reporter CARMEL, Ind.-Finding alternate sources of revenue is a priority in the current economic environment, and placing a stronger priority on insurance products could help boost the bottom line, according to...

NOW IN THE MARKET.(Special Report: Insurance)
March 2, 2009... CSCU Awards Scholarships To 3 CUs CLEARWATER, Fla.-Card Services for Credit Unions has awarded $5,000 in Community Outreach Scholarships to three deserving credit unions. Credit unions were invited to submit their best community outreach...

CUNA Mutual Offering Protection Against Commercial Foreclosures.(Special Report: Insurance)
March 2, 2009... Byline: Matt Blumenfeld, Reporter MADISON, Wis.-As a seemingly never-ending wave of residential foreclosures sweeps the nation, a second wave is already starting to be felt in the commercial sector, which is why CUNA Mutual Group has...

How CUs Can Help Members 'Walkaway' From Their Problems.(Special Report: Insurance)
March 2, 2009... Byline: Ray Birch, Correspondent DALLAS-Hyundai made headlines with its offer to take back cars if buyers lose their income within a year after purchase, but one credit union vendor has already made it possible for CUs to promote the same...

NOW IN THE MARKET.(Special Report: Insurance)(uMonitor unveiling new software)(NAFCU Services Corp. and Securian Financial Group Inc. introducing a new webcast)
March 2, 2009... New Versions Of uOpen, uFund Launched MEMPHIS, Tenn.-uMonitor unveiled the latest version of uOpen and uFund, an online account opening and funding solution with switch kit. uOpen and uFund 5.0 provides a more user-friendly experience...

'Anger' Is Obvious; Solutions Are Not.(Questions Around Corporate Stabilization Draws Huge Crowd, But...)
March 2, 2009... Byline: Frank J. Diekmann, Editor WASHINGTON-Issues surrounding corporate credit unions and the potential need for federal funding led CUNA to hurriedly add a special early morning Q&A session during its Governmental Affairs Conference....

What Credit Unions Are Asking.(Questions Around Corporate Stabilization Draws Huge Crowd, But...)
March 2, 2009... WASHINGTON-Here's a look at the questions credit unions had for CUNA and its task force on corporates during GAC: Tom McDonough, City of Boston CU: What about the fact we are bearing the brunt of burden of credit unions that have been less...

Five Alternatives To Corporate Stabilization Plan.(Questions Around Corporate Stabilization Draws Huge Crowd, But...)
March 2, 2009... WASHINGTON-CUNA Corporate Task Force Chair Terry West said these are among the alternatives to NCUA's Corporate Stabilization Plan: 1. Central Liquidity Fund option: CUNA is pressing Congress to extend the CLF limit beyond the current $41...

CUs On Corporate Assessment: Let's Just Get It Over With.(News)
March 2, 2009... Byline: Ray Birch, Correspondent GLENDALE, Calif.-For the same reason many believe the best way to remove a Band-Aid is quickly, a number of credit unions are saying they prefer to write down whatever their final tab will be for NCUA's...

Corporate CUs Bedeviled By Four-Letter Term: OTTI.(News)
March 2, 2009... LENEXA, Kan.-When U.S. Central FCU surprised everyone last month - including NCUA - with a massive $1.1-billion loss for its recently completed fourth quarter it was precipitated by the implementation of a controversial and often confusing...

Congress: CUs Didn't Cause The Problem.(Pain From Ailing Economy Being Felt Across Credit Unions)
March 2, 2009... Byline: Ed Roberts, Washington Bureau Chief WASHINGTON-Congressional leaders last week assured credit unions during CUNA's Government Affairs Conference they would do everything they could to keep them from paying the tab for the ongoing...

Corporates Weigh The Costs Of $1-Billion U.S. Central Bailout.(News)
March 2, 2009... COLUMBUS, Ohio-Corporate One FCU reported that unrealized losses on its books grew by another $21 million in December to a total of $328.1 million, one of seven corporates with large holdings of underwater securities. But the $3.8 billion...

Notes On GAC.(News)
March 2, 2009... WASHINGTON-How to resolve the corporate credit union losses overshadowed nearly every aspect of CUNA's GAC last week, but there were a few other things mentioned along the way, including: * Serving as emcee once again, Washington radio...

Quick Read.(News)
March 2, 2009... Trainers From WSECU, O Bee Win 'Best in Show' OLYMPIA, Wash.-A partnership between the Washington State Employees Credit Union Training Department and O Bee CU won "Best In Show at CUNA's Experience Learning Live Training Awards. The...

CUNA Reports Deep Losses For 2008.(Pain From Ailing Economy Being Felt Across Credit Unions)(Financial report)
March 2, 2009... Byline: Ed Roberts, Washington Bureau Chief WASHINGTON-CUNA announced last week the crashing stock markets slammed its investment portfolio last year to push the trade association deeper into the red, to the tune of $8 million. The...

Fryzel: No Magic Bullet For Corporate CU Woes.(Pain From Ailing Economy Being Felt Across Credit Unions)(Conference notes)
March 2, 2009... Byline: Ed Roberts, Washington Bureau Chief WASHINGTON-NCUA Chairman Michael Fryzel expressed regret at the agency's $5-billion corporate credit union bailout during remarks at CUNA's Government Affairs Conference last week, but said there...

ON DEADLINE.
March 2, 2009... Pentagon FCU Explores Conversion To Bank ALEXANDRIA, Va.-Frustrated over the huge cost of the corporate credit union bailout, the board of Pentagon FCU has authorized management of the nation's third largest credit union to explore...

NCUA Asks Glendale Area Schools FCU To Take Down Ad.(News)
March 2, 2009... Byline: Matt Blumenfeld, Reporter GLENDALE, Calif.-An advertisement in a local credit union's member newsletter and on its website is kicking up controversy with federal regulators. In its Winter 2009 "Insider," Glendale Area Schools...

CDCUs Seek Revolving Loan Fund As Capital Solution.(News)
March 2, 2009... Byline: Ed Roberts, D.C. Bureau Chief WASHINGTON-Faced with declining numbers, the National Federation of Community Development CUs is asking NCUA to act to convert some $16 million in low-interest loans through NCUA's Community Development...

Some Believe Values To Start Rising.(Mortgages)
March 9, 2009... Byline: Matt Blumenfeld, Reporter CAPE CORAL, Fla.-As housing values and sales continue their fall nationally, analysts in some markets believe they may now be seeing the floor. The housing bust crushed states like California, Arizona,...

WORTH NOTING.
March 9, 2009... NCUA Promotes Affordable Loan Program ALEXANDRIA, Va.-NCUA joined with other federal financial regulators to urge credit unions and other lenders to participate in the "Making Home Affordable" loan modification program. Guidelines for the...

How To Leverage Loyalty; J.D. Powers & Associates Analyst Will Share Key Growth Insights With Attendees At Grow Show.(General News)(Conference news)
March 9, 2009... Byline: Matt Blumenfeld, Reporter WESTLAKE VILLAGE, Calif.-Member satisfaction significantly affects deposit growth at financial institutions, but credit unions need to take a fresh look at how great that effect is and what their business...

No Hurry To Put This Fire Out; San Francisco Fire Credit Union Leads Way By Returning 53% Of Income As Dividends.(Financial Planning)
March 9, 2009... Byline: Michael Bartlett, Reporter SAN FRANCISCO-San Francisco Fire CU rolled to the top of Callahan's Return of the Saver category for its asset size by returning a whopping 53% of its gross income in the form of dividends. Diana...

NOW IN THE MARKET.(News)
March 9, 2009... 3 More CUs Join Class WASHINGTON-Visions FCU in Endicott, N.Y., Workers CU in Fitchburg, Mass., and Directions CU in Toledo, Ohio are offering private student loans to their members through Credit Union Student Choice. The three CUs join...

Head In Sand Vs. Heady Decisions; Thoughts On 1 New Retiree.(Opinion)
March 9, 2009... Byline: Frank J. Diekmann What if Credit Union Journal just didn't report some of the "bad" news? The corporate stuff. The NCUA proposals. The branch closures. Would you as a reader and CU decision-maker be better off if you just didn't...

Don't Miss The Boat!(Opinion)
March 9, 2009... Byline: Frank J. Diekmann SAN DIEGO-Be among the first 85 people to register for Credit Union Journal's Grow Show, and you'll have the opportunity to hear some Blue Ocean strategies-literally. Get leadership insights from Capt. Mike...

CALENDAR.(Opinion)(Brief article)(Calendar)
March 9, 2009... MARCH March 13-14 Utah League of CUs Annual Meeting, Salt Lake City Hilton Hotel: www.hilton.com. For info: www.ulcu.com or 801-972-3400 March 16-18 CA/NV Credit Union Leagues Big Valley Educational Conference, Monterey,...

A CU Lesson From An ATM.(Opinions)
March 9, 2009... Byline: Steve Pollman Years ago, I was the CEO of the Delchamps Credit Union, a CU that served the needs of the employees and family members of a regional grocery chain. At one point, our sponsor company asked that the credit union take...

CUNA Management The Very Best That Money Can Buy; Let The Freeze Thaw.(Opinions)(Letter to the editor)
March 9, 2009... Byline: Stuart Perlitsh For the record, let me be perfectly clear: we have the absolute best CEO in Dan Mica that money can buy. Now it is both sad and unfortunate CUNA is in a rectal bleed-out of some $8 million. I am convinced that Dan's...

Not TARP Money, But 'TRAP' Money Is Just What CUNA Management Needs.(Opinions)
March 9, 2009... Byline: Dennis Moriarity Now I'm really scared! Can't tell you how concerned I am about the news from Washington after Credit Union Journal reported CUNA falling into the red by eight-million bucks. What a tragedy! Not only was...

Study Suggest 'Tsunami' Of Failures.(Mortgages)
March 9, 2009... Byline: Ray Birch, Correspondent ROCHESTER, N.Y.-Credit unions will not be able to completely absolve themselves from responsibility for the mortgage foreclosure "tsunami" one industry analyst predicts will hit this summer. Robert...

Article's Accuracy, Insights Show The Value of Subscription To CU Journal.(Opinions)
March 9, 2009... Byline: Robert G. Reh I was recently interviewed by Kevin Jepson for the article in the Jan. 19, 2009 edition titled, "What Does 2009 Hold For IT? A Look At One Group's Forecast" I wanted you to know that Kevin was very thorough as...

CREDIT UNIONS IN THE MEDIA.(Opinions)
March 9, 2009... The Alaska Journal of Commerce featured Alaska USA FCU in an article that said the credit union "holds a management philosophy that embodies the belief that employees are the financial institution's greatest assets." The article, noting AUSAFCU...

ON BRANDING: CUs' Day Of Reckoning Is Here: Are We Up To The Challenge Of Rebuilding The Industry?(Opinions)
March 9, 2009... Byline: Paul J. Lucas There Will Be Blood. That's the title of an Oscar award-winning 2007 movie. Who would have guessed that a year later that bold title would describe the state of our credit union industry? We've been watching...

cujournal.com SURVEY.(Opinion)
March 9, 2009... For 2009, for senior management salaries, our CU decided: To maintain scheduled increases, bonuses 47% To freeze salaries, bonuses 39% To reduce salaries, bonuses 14%

CUs, Banks Seek Compromise on Cramdown legislation.(Washington Watch)
March 9, 2009... Byline: Analysis by Ed Roberts WASHINGTON-The credit unions and banks apparently succeeded last week in convincing Democrat House leaders to moderate the so-called cramdown bill that would allow homeowners to ask bankruptcy courts to amend...

NCUA Switches Chief Corporate Examiner Again.(Washington Watch)
March 9, 2009... Byline: Analysis by Ed Roberts ALEXANDRIA, Va.-NCUA said last week it has appointed Mark Treichel, the director of its northeast Region One since 2003, to be the acting director of its Office of Corporate CUs, the chief corporate examiner....

White House Urged On Mark-To-Market Accounting.(Washington Watch)
March 9, 2009... Byline: Analysis by Ed Roberts WASHINGTON-CUNA took its appeal over market value accounting to the White House last month, asking President Obama to form a task force to review whether current accounting rules are exacerbating the current...

Proposal Would Combine NCUA With Bank Agencies.(Washington Watch)
March 9, 2009... Byline: Analysis by Ed Roberts WASHINGTON-The effort to combine NCUA into a super financial regulator began in earnest last week during a hearing in regulatory reform before the Senate Banking Committee. The most specific proposal for...

AGENDA.(Washington Watch)
March 9, 2009... Comment Treasury Department: comments due March 23 on interim rule on TARP Conflicts of Interest. FDIC: comments due April 2 on interim rule to impose a 20 bass point emergency special assessment to be collected Sept. 30. NCUA:...

PEOPLE.(Washington Watch)
March 9, 2009... First Financial FCU, Wall, N.J., elected Gordon Holder to its board. RCU, Eau Claire, Wis., named Gina Gladwell registered representative with Financial Network Investment. Langley FCU, Newport News, Va., named Susan L. Burns business...

Why 4 Corporates Have Opted Out Of NCUA Guarantee Plan.(Corporates)
March 9, 2009... Byline: Ed Roberts & Frank J. Diekmann, Staff ALEXANDRIA, Va.-At least four corporate credit unions appear to have decided against participating in NCUA's new expanded guarantee program that requires corporates sign a supervisory agreement...

State Regulators Seize Troubled CU.(News From cujournal.com)
March 9, 2009... CUDAHY, Wis.-A week after the break-up of the merger between Prime Financial CU and Guardian CU, state regulators took financially ailing Prime Financial under conservatorship. In seizing the $190-million credit union, the Wisconsin...

Heartland Breach Spreads As CUs Sue.(News From cujournal.com)
March 9, 2009... TRENTON, N.J.-Three credit unions and two banks became the first financial institutions to seek recompense through the courts against Heartland Payment Systems for one of the biggest credit card breaches ever. In a civil suit filed late...

Digital FCU Announces Lay-Offs.(News From cujournal.com)
March 9, 2009... MARLBOROUGH, Mass.-Digital FCU, New England's largest credit union, announced it has cut almost 30 employees, amid a 9% decline in net income for 2008. Most of the layoffs were in Massachusetts, and a Digital FCU spokesman said no further...

Hyland Urges CUs To Comment On Specific Aspects Of Corporate Stabilization Plan.(Corporates)
March 9, 2009... Byline: Lisa Freeman WASHINGTON-Credit unions have until April 6 to file comments on NCUA's proposed Corporate Stabilization Plan, and NCUA Board Member Gigi Hyland outlined several areas on which the agency is particularly interested in...

Hand-wringing, Finger-Pointing Put Entire Movement At Risk.(General News)
March 9, 2009... Byline: Lisa Freeman, Managing Editor WASHINGTON-The finger-pointing and hand-wringing credit unions are doing over the economic challenges facing them could end up doing almost as much damage as the 62-basis point assessment that sparked...

5 Pieces of 'Good News' Reported Out Of CUNA's GAC This Year.(General News)
March 9, 2009... Knowing CUs have been-and would continue to be-inundated with a lot of bad news, CUNA President Dan Mica asked his staff to come up with five pieces of good news to share with credit unions. Among the good news CUNA came up with for Mica to...

Notes On GAC.(General News)
March 9, 2009... WASHINGTON-How to resolve the corporate credit union losses overshadowed nearly every aspect of CUNA's GAC, but there were a few other things mentioned along the way, including: * Having a hard time finding the silver lining in the current...

South Florida Foreclosures Drop.(Mortgages)
March 9, 2009... MT. PLEASANT, Penn.-Though housing values continue to decline, sales volumes are up significantly in south Florida and a positive trend in foreclosures could help bring an end to the worst housing slide in the state's history. According to new...

Another P2P Lender Pops-Up.(Eye On The Competition)
March 9, 2009... NEW YORK-Loanio, Inc joined the swelling ranks of peer-to-peer lenders that have recently surfaced to try and take advantage of "underserved" markets such as college students and individuals with bad or no credit histories. The start-up's...

Comerica Bank Launches HSA.(Eye On The Competition)
March 9, 2009... DALLAS-Comerica Bank's business customers can now offer their employees an option for managing their health care expenses as the $66 billion bank has crafted Comerica HealthReserve, a health savings account. "With healthcare costs continuing to...

Fight Heads To Senate After House Passes Cramdown Bill.(Mortgages)
March 9, 2009... Byline: Ed Roberts, Washington Bureau Chief WASHINGTON-The credit union lobby turned its efforts to the Senate last week after the House passed a bill over its objections that would allow troubled homeowners to ask a bankruptcy court to...

Mergers Won't Hurt BofA Dominance.(Eye On The Competition)
March 9, 2009... RESTON, Va.-The recent mega-mergers in the banking industry will likely fail to knock off Bank of America from the top of the online banking heap, expert analysis concluded. The banking giant will still have the largest amount online...

NetSpend Sees Gains In Deposits.(Eye On The Competition)(Brief article)
March 9, 2009... AUSTIN-A prepaid debit card program is seeing huge gains in deposits as customers participating in the NetSpend National Savings Program, created by NetSpend Corporation and endorsed by FiSCA, have deposited more than $31 million into their...

Divine Secrets Of The Laid-Off Sisterhood.(General News)
March 9, 2009... Byline: Michael Bartlett, Reporter APPLE VALLEY, Calif.-Nine former employees at High Desert FCU who lost their jobs after the credit union was placed into conservatorship by NCUA have banded together to form a support group. It's also led...

Desert Energy, Pima FCU To Merge To Create $310M CU.(General News)
March 9, 2009... Byline: Michael Bartlett, Reporter TUCSON, Ariz.-Desert Energy CU said it intends to voluntarily merge into Pima FCU, pending approval by its members and both NCUA and the Arizona Department of Financial Institutions. The merger would...

Patelco Closing 4 Branches Outside 'Core Area'.(General News)
March 9, 2009... Byline: Michael Bartlett SAN FRANCISCO-Patelco Credit Union is closing four branches as part of a strategy of concentrating on its core service area, a spokesperson said. The $4.1-billion CU, which serves more than 300,000 members,...

NSF Fees Saw 8% Increase In 2008 To $5.5 Billion.(Financial Performance)
March 9, 2009... ST. SIMON'S ISLAND, Ga.-Non-sufficient funds fees continued to grow at a substantial rate at credit unions and banks last year, serving as a reliable source of income, even as net interest margin continued to compact, according to a new study....

Banks Have Had To Hike Fees-Will CUs Be Next?(Financial Performance)
March 9, 2009... TORONTO, Canada-While credit unions are trying to keep their fees low despite economic pressures, one study shows many banks are having to hike fees. According to DBRS, here, fee income is often viewed as a stable source of revenue for...

CUJ Quick Reads because your time counts.(Quick Reads)(National Federation of CDCUs developing new "Express Application" for CDCUs)(Deutsche Bank contributing for community programs)(market surveys shows small business use more mobile banking services)
March 9, 2009... Express App Created For CDCUs NEW YORK-Saying it was responding to the potential cost of NCUA's Corporate CU Stabilization, the National Federation of CDCUs has developed a new "Express Application" for CDCUs in need of secondary capital....