Credit Union Journal articles from November 2005

Credit Union Journal archives from November 2005

Billion-Dollar Question: CU Tax Exemption Scrutinized By Congress.(credit unions)
November 7, 2005... WASHINGTON -- The powerful banking lobby made its long-awaited best pitch last week to congressional tax-writers to consider repeal of the credit union tax exemption. The bankers pressed their case during the first congressional hearings...

Billion-Dollar Helper: CUs Unveil Subsidized Mortgage Program.(credit unions come with a new affordable housing program)
November 7, 2005... WASHINGTON -- More than 60 credit unions across the country have pledged to lend $1-billion in subsidized mortgages to low- and moderate-income homebuyers under a new affordable housing program unveiled by CUNA last week. "Our objective...

Bankers File Suit Over Underserved FOMs.(American Bankers Association sues National Credit Union Administration for underserved expansions)
November 7, 2005... WASHINGTON -- In a new legal assault on credit unions, the American Bankers Association filed suit in federal court last week challenging NCUA's widely popular underserved expansions, which have extended credit union services to millions of...

CUNA Mutual's Tab For Hurricanes: $27.5M.(Hurricane Katrina, Hurricane Rita, Hurricane Wilma)
November 7, 2005... MADISON, Wis. -- CUNA Mutual Group estimates the tab for Hurricanes Katrina, Rita and Wilma will be $27.5 million in claims filed by credit unions alone-and that doesn't even begin to measure some of the uninsured and hidden costs such...

On Deadline.(John H. Harland Co. gives its third quarter financial results)(United States. Federal Reserve Board to manage inflation)(real estate developer David LaRoche fined)
November 7, 2005... Fed Moves To Keep Share Growth Slow WASHINGTON-The Federal Reserve last week proceeded with its bid to tamp down inflation and raised short-term interest rates for the 12th time in a row, by 25 basis points, to 4%. The Central Bank also...

Many Mississippi CUs, Members Just Beginning To Pick Up Pieces After Katrina.(credit unions come forward to help Hurricane Katrina victims)
November 7, 2005... JACKSON, Miss. -- Even two months after Hurricane Katrina, credit union officials in Mississippi report that it is still too early to assess the total damage and trauma of the storm. On the positive side, no Mississippi credit unions have...

Economist Downplays Housing Bubble, But Sees Other Problems.(consumer spending is the main criteria for United States economical growth)
November 7, 2005... ANAHEIM, Calif. -- The United States economy has issues, but according to one economist, CU leaders should not worry about a sudden, sharp fall in housing prices. Christopher Thornberg, senior economist with the closely watched UCLA...

New Ad On The Hill.(Credit Union National Association and National Association of Federal Credit Unions come with a new advertisement)(Brief Article)
November 7, 2005... WASHINGTON -- A new message has been unveiled as part of the ad campaign being backed in Capitol Hill publications by CUNA and NAFCU. In the newest installment, the question is posed, "Why do 87 Million Americans Love Their Credit Union,"...

Worth Noting.(Richard Rogers of Sandia Area Federal Credit Union has died)(Desert Schools Federal Credit Union sends staff to assist Arizona Grocers Credit Union)(Bill Donovan retires from National Association of Federal Credit Unions)(Brief Article)(Obituary)
November 7, 2005... New Mexico's Rick Rogers Dies ALBUQUERQUE, N.M.-Richard Rogers, 49, president of the $228-million Sandia Area Federal Credit Union, has died due to complications from a respiratory illness. Mr. Rogers had been president of the credit union...

Best, Charitable, Clarified, Media (& Odd) Practices.(best practices for credit unions)(Editorial)
November 7, 2005... Well, we asked for it. Several months back The Credit Union Journal invited readers to submit their own "Best Practices." We weren't looking for a specific type of best practice and we didn't divide the pie up according to asset size,...

Act Now And Get Those End-Of-Year Loan Dollars.(automobile industry)
November 7, 2005... Is there a Jag in your member's garage this holiday season? Looking for an end-of-the-year promotion to exceed your loan growth goals? Consider an auto loan or HELOC promotion focused on affluent households. Look at these consumer trends,...

Something Old, Something Borrowed.(Letter to the Editor)
November 7, 2005... Thanks for covering the i3 Filene Research Institute group on creative ideas in the Sept. 26 issue (Page 37, MatriMoney). It's nice to see so many people thinking outside the box. It just goes to show how an old idea can be revived quickly....

Product & Service.
November 7, 2005... Updated DecisionsLender Released HAPPAUGE, N.Y.-TCI has released a new version of DecisionLender, which will allow credit unions to get loan requests from 22,000 auto dealerships in the DealerTrack system. DecisionLender is an automated...

Cal./Nev. CUs Get Update On How Money Was Spent.(California and Nevada Credit Union Leagues)
November 7, 2005... ANAHEIM, Calif. -- The first year of a radio and newspaper-based public advocacy campaign on behalf of credit unions has had a significant positive effect on registered voters in California and Nevada, delegates of the California and Nevada CU...

Advocacy Teams Helps To Connect For The Cause (.org).(California/Nevada Credit Union League launches website)(Brief Article)
November 7, 2005... ANAHEIM, Calif. -- The California/Nevada Credit Union League unveiled its new advocacy team at its recent convention here. Bob Arnould, the CCUL's senior vice president of government affairs, told attendees the team is "taking the battle to...

Product & Service.
November 7, 2005... FSCC Reports Growing Clients AUBURN HILLS, Mich. And SAN DIMAS, Calif.-Another 1.2-million credit union members now have access to 24/7 call center service available through the Financial Service Centers Cooperative, Inc. (FSCC) shared...

CARPooL Volume In Overdrive.(First Carolina Corporate Credit Union)(Brief Article)
November 7, 2005... GREENSBORO, N.C. -- The $1.7-billion First Carolina Corporate CU is reporting that since July 30 its CARPooL program has purchased more than $22 million in auto loans from credit unions. That's more than double the $9 million in total loans...

Billboard Drives Traffic To Site-And To Branches.(Montana Federal Credit Union launches a hot campaign)
November 7, 2005... MISSOULA, Mont. -- What started as a simple plan to teach Montana residents the "credit union difference" ballooned into a local tale of whispers and intrigue that made it into the local newspaper. Montana First Credit Union bought space on...

Earnings Up Significantly At U.S. Central CU.(Central Credit Union)(Brief Article)
November 7, 2005... LENEXA, Kan. -- U.S. Central CU reported that the higher interest-rate environment helped push earnings on its $36 billion investment portfolio 63% higher for the third quarter, compared to the same period last year. That enabled U.S. Central...

NASCUS Reiterates Position On Business Combos.(National Association of State Credit Union Supervisors reports to Financial Accounting Standards Board on exposure draft of FASB 141)(Brief Article)
November 7, 2005... ARLINGTON, Va. -- NASCUS has provided comment to the Financial Accounting Standards Board (FASB) on its latest exposure draft of FASB 141, Business Combinations. In its Oct. 27 comment letter, NASCUS reemphasized its position on business...

Worth Noting.(Stanford Federal Credit Union introduces commercial construction loans)(Sunmark Federal Credit Union is the best place to work in New York city)(Cumorah Credit Union is celebrating 40th anniversary)(Brief Article)
November 7, 2005... Sunmark 'Great Place To Work' SCHENECTADY, N.Y.-Sunmark Federal Credit Union was recognized as one of the Great Places to Work in the Capital Region of New York by the Business Review. Sunmark was one of more than 130 companies to enter,...

Tax Reform Panel Unveils Its Proposals For Reform.(tax exemption of credit unions)(Brief Article)
November 7, 2005... WASHINGTON -- Just as Congress was gearing up for hearings on the credit union tax exemption last week, the President's Advisory Panel on Federal Tax Reform was releasing its final report on proposed reforms to the tax code, which did not...

Strong Congressional CU Supporter To Retire.(Michael Oxley to retire from United States. Congress. House. Committee on Financial Services)(Brief Article)
November 7, 2005... WASHINGTON -- Rep. Michael Oxley, the Ohio Republican who chaired the House Financial Services Committee for the past five years and a staunch credit union supporter, announced last week he will retire at the end of next year, at the completion...

Lott Adds Support For Bailout Of Homeowners.(Trent Lott to help uninsured homeowners)(Brief Article)
November 7, 2005... WASHINGTON -- A key senator has added his support to a House effort to bail out uninsured homeowners in New Orleans and elsewhere in the Gulf States where hurricanes Katrina and Rita destroyed hundreds of thousands of uninsured properties....

Arrowhead Central Fined; Three Others Banned.(National Credit Union Administration fines Arrowhead Credit Union)(Brief Article)
November 7, 2005... ALEXANDRIA, Va. -- NCUA announced last week it fined Arrowhead Central CU $22,500 for filing late Home Mortgage Disclosure Act reports, the latest in its effort to crack down on late consumer filings. The San Bernardino, Calif., credit union...

People.(Barney B. Chapman retires from America First Credit Union)(Clearview Federal Credit Union appoints Victoria Mell, William D. McCloskey)(Louisiana Credit Union League elects Glen Beard as chairman)
November 7, 2005... Prairie Trail Credit Union, Joliet, Ill., named Vanessa Vercimak, branch manager/business development, Sybil Gibson Frankfort branch supervisor, and Teresa Salyer Plainfield branch supervisor. The Louisiana Credit Union League, Harahan,...

Small CU, Small Balances & A Big Idea: Alhambra Creates Way To Keep Members From Falling Below Minimum Balance Required For Membership-And Makes A Point In The Process.(Alhambra Credit Union creates new sub-accounts or "Membership Share Accounts")
November 7, 2005... PHOENIX, Ariz. -- Alhambra CU has found a way to protect members from ever falling below the minimum required balance on their share account-which puts their membership in jeopardy-and, at the same time, educate them about their rights and...

The CUJ's Best Practices.
November 7, 2005... WEST PALM BEACH, Fla. -- Ideas. From The Credit Union Journal's inception, readers have consistently indicated they are in search of new ideas and new ways of doing things at their credit unions, and especially in learning from their...

Incentive Program Credited With Boost In Revenue, Product Penetration.(Allegacy Federal Credit Union)
November 7, 2005... WINSTON-SALEM, N.C. -- CU: Allegacy FCU Category: Incentives Equity lines of credit at Allegacy Federal Credit Union grew 19% last year-faster than the previous seven years combined-thanks, in part, to a unique employee incentive...

'MoneySense' Helps Financial Educators To Educate.(Community Trust Federal Credit Union teaches financial literacy)
November 7, 2005... MODESTO, Calif. -- CU: Community Trust Category: Financial Education Community Trust Credit Union created and produced a financial education program to help area educators teach basic financial literacy to the community, particularly...

Capturing The Captive Audience: Coastal Creates 'CoastMedia' For Branch Messages.(Coastal Federal Credit Union)
November 7, 2005... RALEIGH, N.C. -- CU: Coastal FCU Category: Digital Video Marketing With the development of its own in-house digital video solutions, Coastal FCU believes it has maximized its marketing potential within its branches. The...

Solution Greatly Simplifies Monthly Reporting For One La. CU.(Cenla Federal Credit Union uses web-based software tool by IntegraSys for monthly report)
November 7, 2005... ALEXANDRIA, La. -- CU: Cenla FCU Category: Improved Reporting Cenla FCU here implemented ReportIT in May 2005, a web-based software tool by IntegraSys that officials say has created more flexibility, saved time and streamlined the...

New Orientation Program Dares Employees To Soar-And They Have.(Bayer Federal Credit Union)
November 7, 2005... ELKHART, Ind. -- CU: Bayer FCU Category: Recruiting & Retention Bayer FCU created a new employee orientation program as it sought to start employees off on the right track and build a culture that grows the business. Called "Dare...

Helping Members Find All Those ATMs & Branches.(Delta Community Credit Union, automated teller machines)
November 7, 2005... ATLANTA -- CU: Delta Community Category: Member Convenience With a national membership and limited branch presence, the newly renamed Delta Community Credit Union relies on shared branching and surcharge-free ATM networks to provide...

No Mystery To Improvements In Service.(First Flight Federal Credit Union)
November 7, 2005... HAVELOCK, N.C. -- CU: First Flight FCU Category: Training Mystery shoppers at First Flight Federal Credit Union are giving employees high marks since their participation in ongoing employee training created to improve member service....

Solution Has Made Loan Turnaround 10 Times Faster At Northern FCU.(Northern Federal Credit Union uses IntegraSys technology to process loan applications)
November 7, 2005... WATERTOWN, N.Y. -- CU: Northern FCU Category: Loan Processing Northern Federal Credit Union is leveraging new system integration tools that allow member loan applications to go from entry point to an underwriter's desk 10 times faster...

'Welcome Home' Turning The Ordinary Into The Compelling.(Franklin Mint Federal Credit Union)
November 7, 2005... BROOMALL, Penn. -- CU: Franklin Mint Category: Member Satisfaction & Retention People, not profits are the lifeblood of a credit union. The proof, says Cindy Wanamaker, SVP/COO at Franklin Mint Federal Credit Union here, is in the...

Paging Dr. Signature: Two Special Loan Programs Have Added Benefits.(Pinellas Federal Credit Union introduces loan schemes)
November 7, 2005... LARGO, Fla. -- CU: Pinellas FCU Category: Special Loan Promo Two loan products created to keep "credit-challenged" members at the $65-million Pinellas FCU from being lured to predatory lenders have come with added benefits. Among...

Seeking To Better Schedule Demands On IT Dept., Ent FCU Raises Its Own iQueue.(Ent Federal Credit Union develops an intranet system)
November 7, 2005... COLORADO SPRINGS, Colo. -- CU: Ent FCU Category: Information Technology In 2004, Ent Federal Credit Union converted to Symitar to serve as its new host system. During the transition period, management had placed a hold on all requests...

Long-Time Single-Sponsor CU Spreads Its Wings To Serve New Groups.(Alliant Credit Union is the new name for United Air Lines Employees' Credit Union)
November 7, 2005... CHICAGO -- CU: Alliant CU Category: SEG Recruitment In the year since former United Airlines Employees Credit Union changed its name to Alliant Credit Union, it has done much more than just unveil a new logo-it has reinvented itself....

Platinum Results From Program Aimed At Increasing Card Outstandings.(DuPont Community Credit Union markets credit card)
November 7, 2005... WAYNESBORO, Va. -- CU: Dupont Community Category: Credit Cards When DuPont Community Credit Union decided it was time to goose its credit card portfolio, not only did the credit union boost outstanding balances by $15 million in just...

Much More Than Just A New Headquarters.(Community Credit Union shifts to La Crosse, Wisconsin)
November 7, 2005... LA CROSSE, Wis. -- CU: Community CU Category: Facilities Community Credit Union was looking for a way to solidify its identity and commitment to the community. What it finally settled upon was something everyone could plainly see: a...

Late Entrant To Indirect Lending Finds It Directly Boosts Loan Portfolio.(Coastal Federal Credit Union)
November 7, 2005... RALEIGH, N.C. -- CU: Coastal FCU Category: Indirect Lending Credit unions around the nation have been involved with indirect auto lending for years, with varying degrees of success. Coastal Federal Credit Union here, however, was...

LaggingNew Member Growth Spurs Program To Boost Penetration.(Northern Massachusetts Telephone Workers' Credit Union focuses on retaining existing members)
November 7, 2005... LOWELL, Mass. -- CU: Northern Massachusetts Telephone Category: Member Retention/Penetration After a disappointing tally of new members in recent years, Northern Massachusetts Telephone Workers' CU shifted its focus to existing...

Key To One Credit Union's IT Success: Tinkering With The Humanware.(Tinker Federal Credit Union)
November 7, 2005... TINKER AFB, Okla. -- CU: Tinker FCU Category: Core Conversion The funny thing about technology is, sometimes the human factor is even more important than the technology itself. That's exactly what Tinker FCU recognized when it embarked...

How And Why Red Rocks FCU Benefited From Starting From Scratch.(Red Rocks Federal Credit Union with new services)
November 7, 2005... HIGHLANDS RANCH, Colo. -- CU: Red Rocks FCU Category: Mortgage Lending When Red Rocks FCU decided it was time to initiate a purchase-money first-time homebuyer loan, it realized it needed to completely start from scratch. So the...

Offer To Pay Out Cash Serves To Bring The Loans In At Virginia CU.(Virginia Beach Federal Financial Corp.)
November 7, 2005... VIRGINIA BEACH, Va. -- CU: Virginia Beach Schools Category: Special Loans Cash is always a good lure. But officials at Virginia Beach Schools Federal Credit Union didn't really know just how good until it ran a three-month...

Retaining Those SEGs After Going Community.(select employee group, Sunmark Federal Credit Union)
November 7, 2005... SCHENECTADY, N.Y -- CU: Sunmark FCU Category: Community Outreach How does a credit union that has moved to a community charter preserve its relationships with former SEGs? By staying well connected, according to Rachel Zimolka,...

Better Connections: Tech CU Creates One Application To Bring Together Applications.(Technology Credit Union brings Branch Suite for making the work easy)
November 7, 2005... SAN JOSE, Calif. -- CU: Technology CU Category: Tailored Technology Technology Credit Union members are getting superior service and they might not even know it. While cross selling and member relationship management are nothing...

New Projects Debut In Philippines, Sri Lanka.(World Council of Credit Unions adds new projects funded by United States. Department of Agriculture and United States. Agency for International Development)(Brief Article)
November 7, 2005... MADISON, Wis. -- The World Council of Credit Unions (WOCCU) has added new projects in Sri Lanka and the Phillipines. In Sri Lanka, the focus will be on Credit Union Finance Facility restructuring and is being funded by a donation from the...

Breakfast Seminar Held For Europe's Parliament.(World Council of Credit Unions helds seminar for European Parliament member)(Brief Article)
November 7, 2005... BRUSSELS, Belgium -- The World Council of Credit Unions, Inc. (WOCCU) and its European members from Ireland, Great Britain, Poland and Romania held the first-ever breakfast seminar here for members of the European Parliament. The event was...

Mid-States 'Adopts' New Orleans Firemen's FCU.(Mid-States Corporate Federal Credit Union, Firemen's Federal Credit Union)(Brief Article)
November 7, 2005... WARRENVILLE, Ill. -- Mid-States Corporate FCU said it has "adopted" The New Orleans Firemen's FCU and will provide financial assistance to the credit union and their families devastated by Hurricane Katrina. Mid-States made a $10,000...

Indiana's CUs Urged To Become More Active.(credit unions, Credit Union Regulatory Improvements Act )(Brief Article)
November 7, 2005... INDIANAPOLIS -- Credit unions meeting here for the Indiana league's annual meeting heard a special emphasis on becoming politically involved. Among those emphasizing the need for being active was new CUNA Chairman Juri Valdov, who offered...

Minnesota CUs Get Closer To State Capitol.(credit unions)(Brief Article)
November 7, 2005... ST. PAUL, Minn. -- Minnesota's credit unions have been told to prepare for a 2006 legislative session that will likely be "short, sweet and get out of Dodge.'" That's what the state's credit union representatives were told by Rep. Joe...

MyDAS Now Harland Educational Services.(MyDAS expands to financial services)(Brief Article)
November 7, 2005... ATLANTA -- MyDAS, Inc., a provider of training, education and research services, has been re-named Harland Educational Services. The new name is reflective of the company's plans to expand its services to other segments of the financial...

Three-Month Card Promo Brings In $5 Million.(TNB Card Services)(Brief Article)
November 7, 2005... DALLAS -- A three-month promotion targeting card balance transfers generated slightly more than $5 million in new balances for the 42 credit unions participating in the campaign. All are clients of TNB Card Services here. According to TNB, the...

Texas Governor Runs In Texas Twister 10K.(Rick Perry)(Brief Article)
November 7, 2005... AUSTIN, Texas -- Texas Gov. Rick Perry joined with 300 other runners in the 2nd Annual Credit Union Texas Twister 10K here. The day featured the 10K Run/Walk, a Team Challenge, a Kids K and live band. The Twister Run raised more than $60,000...

NACUSO Holds First Business Services Collaborative.(National Association of Credit Union Service Organizations)(Brief Article)
November 7, 2005... CHICAGO -- Seeking to provide "actionable ideas and projects," the National Association of Credit Union Service Organizations (NACUSO) held its first-ever Business Services Collaborative here. The meeting follows on a similar CEO...

CUJ Q&A: No State Has More Credit Unions Than Pennsylvania, Making The Job of Running the State League That Much Tougher. Talks With The PCUA's Jim McCormack About The Task.(Credit Union Journal)(Interview)
November 7, 2005... HARRISBURG, Penn. -- Odd the things you can find in a supermarket. In the case of Jim McCormack, president of the Pennsylvania Credit Union Association, it was credit unions. He would eventually go on to join CUNA Mutual Group for seven years,...

Product & Service.
November 7, 2005... Firms To Offer Interactive Tools HERNDON, Va. And ROCKVILLE, Md.- DigitalMailer, Inc. and Adfluence, Inc. have entered into an agreement to provide DMI clients with a library of interactive website marketing tools that are proven to...

The CU Journal.(CardTronics reports loss for third quarter)(State Employee's Credit Union (Raleigh, North Carolina) gives scholarship)(Fiserv Inc. to open new facility in Burlington)
November 7, 2005... SECU Grows Scholarship Program RALEIGH, N.C.-The boards of both State Employees CU and the SECU Foundation have voted to continue the credit union's landmark scholarship program, which awarded college scholarships to every single public...

Eye On The Competition.(financial services organization are in a tough competition)
November 7, 2005... Contactless Cards Booming NEW YORK-Several U.S. credit card issuers are shipping literally millions of contactless cards and key-fobs. Citibank chose the key fob function, arguing that nearly everyone has their keys with them even if...

Loan Officer Develops Specialty In Making Loans To Amish, Mennonites.(Farm Bureau Credit Union, Vera Rudolph)(Brief Article)
November 7, 2005... WAKARUSA, Ind. -- Co-workers at Farm Bureau Credit Union here call Vera Rudolph the "Friend of the Amish." A loan officer for the $375-million CU, based in nearby Goshen and serving 40,000 members, has approved loans since 1991 for a unique...

Several CUs Make Large Donations To Hurricane Relief.(credit unions give financial contributions to assist victims)(Brief Article)
November 7, 2005... FAIRBORN, Ohio -- Several credit unions have announced significant financial contributions to assist victims of the recent hurricanes and other disasters. Wright-Patt Credit Union, Inc., here, in cooperation with WHIO-TV7, has presented a check...

Michigan CU Reps Lead Training In Macedonia.(World Council of Credit Unions Inc with Michigan Credit Union League give training to credit union members)(Brief Article)
November 7, 2005... SOUTHFIELD, Mich. -- Representatives of the Michigan Credit Union League (MCUL) visited their International Partner, Macedonia, to provide support in a number of areas. Drew Egan, executive vice president of MCUL and CUCorp, and Hank...

Eight People Named As Inaugural Filene Research Fellows.(Filene Research Institute to research on consumer finance and public policy)(Brief Article)
November 7, 2005... MADISON, Wis. -- The Filene Research Institute has created a new "Filene Research Fellows" program it says is designed to broaden its ties with top researchers on subjects related to consumer finance and public policy issues. The eight...

Community Page.(credit unions in service of people)
November 7, 2005... MATCU Awards 17 Scholarships Memphis Area Teachers' CU, Memphis, Tenn., awarded 17 students $2,500 renewable scholarships. DFCU Awards Students Scholarships WYOMISSING, Penn.-Discovery FCU awarded Kaitlyn Wike and Brian Tuscher...

Operation Best Wishes To East Coast.(Wescorp introduces services to send live video messages)(Brief Article)
November 7, 2005... SAN DIMAS, Calif. -- WesCorp has expanded its Operation Best Wishes program to the east coast. In conjunction with CIA Studios, a division of San Juan Capistrano, Calif.-based Counter Intelligence Associates (CIA), WesCorp in 2004 unveiled...

Ex-VP Candidate Addresses CUs.(John Edwards speaks to credit unions)(Brief Article)
November 7, 2005... ANAHEIM, Calif. -- Former senator and vice presidential candidate John Edwards said credit unions do much to "protect" people from predatory lenders. Edwards delivered the opening keynote address at the California and Nevada CU Leagues' recent...

Community Page.(Affinity Federal Credit Union awarded scholarships)(Nicholas Lacetera honored for his services)
November 7, 2005... Chamber Honors PAFCU President The Ronkonkoma Chamber of Commerce honored Nicholas Lacetera, CEO of People's Alliance FCU, Hauppauge, N.Y., for his work in the community and and for canine assistants. LBSFCU Awards 27 Scholarships ...

CU, Banks Agree In N.Y.(First New York Bank for Business and Sunmark Federal Credit Union become partners to expand a loan program)(Brief Article)
November 7, 2005... SCHENECTADY, N.Y. -- While the banking industry and credit unions are tangling over field of membership nationally, in this market, two area credit unions have joined with a handful of banks to expand a microenterprise loan program. The...

CU Tax Exemption Safe For Now, But Congress Wants 'Proof'.
November 14, 2005... WASHINGTON -- The congressional hearings on the credit union tax exemption turned out to be an academic exercise. At the end of the six-hour hearing before the tax-writing House Ways and Means Committee, Chairman Bill Thomas admitted he has...

Indirect, Subprime Lender Hoping To Restore Volume.
November 14, 2005... DENVER -- New business for a company that specializes in subprime, indirect auto lending has come to a screeching halt months after NCUA issued a Risk Alert containing warnings over such loans. CENTRIX, which has grown rapidly and has...

Hurricanes Teach Lessons About Data Backup.
November 14, 2005... SLIDELL, La. -- Tape backups failed a number of credit unions as they struggled to recover during the recent Gulf Coast hurricanes, triggering many to consider the alternatives. Some credit unions "were not adequately prepared" because...

Lenders Deal With New Bankruptcy Realities.(Bankruptcy Abuse Prevention and Consumer Protection Act of 2005)
November 14, 2005... MIAMI BEACH, Fla. -- Eight years in the making, and six months after it was signed into law, credit unions are now beginning to grasp some of the realities of the new bankruptcy reform law that went into effect in October. What is becoming...

New Grants For Displaced Staff: Louisiana CUL Urges 'Adoption' During Holidays.(Louisiana Credit Union League)
November 14, 2005... WASHINGTON -- With at least 150 credit union employees still displaced by Hurricane Katrina, the National Credit Union Foundation is offering larger grants during phase II of the grant process. Meanwhile, the Louisiana League is asking credit...

On Deadline.(American Bankers Association)(National Credit Union Administration)
November 14, 2005... Johnson: NCUA To Defend With 'Vigor' ALEXANDRIA, Va.-NCUA Chairman JoAnn Johnson said the agency will "defend with vigor" its position following a lawsuit filed by the American Bankers Association against NCUA over its approvals of field...

CUNA Reschedules Future Forum For June.(Credit Union National Association )(Brief Article)
November 14, 2005... WASHINGTON -- CUNA has rescheduled its annual Future Forum meeting, previously held in conjunction with the trade group's annual general meeting in the fall, for June 11-14, 2006, at the J.W. Marriott Orlando Grande Lakes, in Orlando, Fla. ...

Members Among Those Killed By Tornadoes; CUs Offering Help.
November 14, 2005... EVANSVILLE, Ind. -- Hoosier State credit unions are waiving fees, enacting skip payment plans and just offering a shoulder to cry on after the killer tornado that swept through this southeastern Indiana town. Credit unions were largely...

CUES To Recognize The 'Rising 100'.(Credit Union Executives Society)(Brief Article)
November 14, 2005... LAS VEGAS -- The Credit Union Executives Society has created a new recognition program, CUES Rising 100, to replace its former CUES Marketer of the Year and CUES Technology Executive of the Year awards. The new program was unveiled during...

Worth Noting.
November 14, 2005... CUES Elects New Board Officers LAS VEGAS-The Credit Union Executives Society selected its board officers for 2005-2006 after the CUES Annual Business Meeting. The officers are: chairman, Rose Bartolomucci, CEO of Kent CU, Kent, Ohio; vice...

Do Your Part, And Help This Man To Finally Unpack.(Dick Ensweiler of Credit Union National Association)
November 14, 2005... Everyone who has ever served as a chairman of one of the national trade associations is supposed to know their term is up when they get to celebrate with a ceremonial unpacking of the luggage. The big plan for the weekend? Go nowhere. The only...

SECU Rolling Out Member ID Cards As Anti-Fraud Tool.(State Employees Credit Union)
November 14, 2005... RALEIGH, N.C. -- State Employees CU is rolling out a member ID card program in an effort to reduce fraud and provide members with more personalized service. "We looked at this because our members disliked it when, if we had a new teller,...

WesCorp Recognized For work.(Western Corporate Federal Credit Union)(Brief Article)
November 14, 2005... LOS ANGELES -- WesCorp has won the Marketing Partner of the Year Award for Minority Enterprise Development. Los Angeles City Mayor Antonio Villaraigosa will present the award to WesCorp CEO Bob Siravo at a business luncheon marking Minority...