Credit Union Journal articles from October 2005

Credit Union Journal archives from October 2005

Numerous CUs Remain Closed.(Credit unions)
October 3, 2005... FARMERS BRANCH, Texas -- State leagues along the Gulf Coast are still working to identify credit unions hit by Hurricane Rita even as the Louisiana league continued to distribute hundreds of thousands of dollars to CU employees displaced by...

Hurricanes In Gulf May Affect Building Codes Everywhere.
October 3, 2005... ST. LOUIS -- Your credit union may be far from the coastline, but it could soon feel the effects of recent hurricanes anyway-in the form of new building codes. In the wake of Hurricane Andrew in Miami in 1992, Miami-Dade County instituted...

New ABA Chair 'Rabid Anti-Credit Unionist'.(American Bankers Association)
October 3, 2005... SAN FRANCISCO -- In an unsual personal attack launched at CUNA's Future Forum last week, top CUNA executives criticized Harris Simmons, the Utah banker who was scheduled to be named chairman of the American Bankers Association. Under...

Donovan Exits NAFCU For Firm.
October 3, 2005... WASHINGTON -- In a surprising move last week, long-time NAFCU executive Bill Donovan, announced he is leaving the national trade association to become a partner in well-known Washington law firm, Venable LLP. "This is one of those things...

Matz Departs NCUA Hoping To Have Made A Difference.(Debbie Matz )
October 3, 2005... ALEXANDRIA, Va. -- Three and a half-years after joining a federal agency she admits she knew little about, Debbie Matz has exited the NCUA board hoping to have made a difference during her term. Matz resigned her NCUA board seat Sept. 30,...

On Deadline.
October 3, 2005... CUNA Expects To Show $1M In Net Income SAN FRANCISCO-CUNA said it expects to report net income of around $1 million for 2005. The net income is down from 2004, when the national trade association reported a net of $1.8 million. As a result,...

NCUA, Export/Import Bank Sign Memorandum.(National Credit Union Administration)(Brief Article)
October 3, 2005... WASHINGTON -- NCUA has signed a memorandum of cooperation with the Export-Import Bank of the United States that seeks to strengthen financing support for America's small businesses. NCUA Chairman JoAnn Johnson and Ex-Im Bank Acting Chairman...

NACUSO Seeking To Fill President/CEO Position.(National Association of Credit Union Service Organizations )(Brief Article)
October 3, 2005... LAS VEGAS -- The National Association of Credit Union Service Organizations (NACUSO) is seeking a full-time president. Victor Pantea, president of Member Gateways, LLC, South Bend, Ind., has been serving as interim president since the group's...

Graham Named As New CEO At SunCorp.(Thomas Graham for Suncorp Federal Credit Union)(Brief Article)
October 3, 2005... DENVER -- SunCorp has named former Kinecta FCU President Thomas Graham as its new CEO. Graham fills a vacancy created by the departure of Eric Kenealy, who was let go by SunCorp. Graham has a 25-year history in credit unions, including seven...

Michigan CEO To Visit All 7 Branches-By Bike.(Bill Lawton of Community Financial Credit Union )(Brief Article)
October 3, 2005... PLYMOUTH, Mich. -- Community Financial Credit Union CEO Bill Lawton has set out to visit all of its seven branches-by bike. A longtime biking enthusiast, Lawton is taking his vacation with a bike tour of the credit union's seven branches,...

Treasury Touts Benefits Of Direct Deposit In Ads.(Treasury Department and the Federal Reserve Board)(Brief Article)
October 3, 2005... WASHINGTON -- The Treasury Department and the Federal Reserve last week rolled out a nationwide campaign urging Americans to use direct deposit for Social Security, Supplemental Security Income (SSI) and other federal benefit payments. Called...

Loan Rate Is Discounted If Vehicle Is Fuel Efficient.(New Horizons Community Credit Union auto loans)
October 3, 2005... DENVER -- With the price of gasoline near or over $3 per gallon in many areas of the country, one credit union here is offering to discount the APR on its auto loans depending on the vehicle's mileage per gallon. New Horizons Community...

Help Offered With Fuel Costs As Winter Nears.(Fuel Assistance Loan by Quincy Credit Union )(Brief Article)
October 3, 2005... QUINCY, Mass. -- As fuel prices continue to rise, Quincy Credit Union has introduced a new loan product to help members "ease the burden" of unforeseen heating expenses in the coming months. "We began looking not only at the gasoline prices...

Worth Noting.(National Credit Union Foundation appoints Steve Bosack)(Georgia's credit unions do advertising of memebership)
October 3, 2005... NCUA To Host Public Hearing ALEXANDRIA, Va.-NCUA will host its fifth annual Budget Briefing and Public Forum at hits headquarters here Oct. 19. The meeting will run from 10:00 a.m. to noon. NCUA described the meeting as an opportunity to...

How To Become The Chief Executive-Of Your Own Job.
October 3, 2005... Staying on top of your job and career is no easy task these days. By becoming CEO of your own job, you take 100% responsibility for what you do, how well you do it, and what results you produce. You don't rely on "they" to take care of you, to...

Ten Steps To Providing Directors With Better Board Packets.(board meetings)(Column)
October 3, 2005... Do you yearn, as I often do, for a simpler time? Who wouldn't? In the early days of the credit union movement, board members came together and looked at reports every couple of weeks, typically monthly. They talked about loans, committee...

Where Indirect, Subprime Lending Fits Within Credit Unions.(Column)
October 3, 2005... With my background as both a former credit union CEO and NCUA Chairman, I am approached frequently by credit union executives who ask my thoughts as to whether they should be involved in indirect lending in general, and third-party, subprime...

What CUs In The Western U.S. Have Planned For Rest Of Year.(credit unions)
October 3, 2005... RANCHO CUCAMONGA, Calif. -- Credit unions in the western half of the United States will be busy as 2005 winds down and the calendar moves to 2006. Here's a look at what lies ahead: CALIFORNIA RANCHO CUCAMONGA, Calif.-The...

CU Mortgage Lenders Cautioned To Keep Eye On RESPA Legislation.(credit union)(Real Estate Settlement Procedures Act of 1974)(Western Corporate Federal Credit Union )
October 3, 2005... LAS VEGAS -- Credit unions are being urged to keep a close eye on efforts to reform several aspects of the real estate and mortgage lending markets, including proposed changes to RESPA (Real Estate Settlement Procedures Act) and oversight of...

JP Morgan Analyst Sees 'Opportunities Galore' In Economy.(James Glassman)
October 3, 2005... LAS VEGAS -- The disruption of Hurricanes Katrina and Rita, combined with having New Orleans "offline," will slow economic growth in the United States in the fourth quarter, but the overall economy is in good shape, according toone economist....

No Bankruptcy Break For Hurricane Victims.(new consumer bankruptcy law)(Brief Article)
October 3, 2005... WASHINGTON -- Lawmakers turned back efforts last week to delay the Oct. 17 effective date of the new consumer bankruptcy law, even as tens of thousands of Gulf Coast residents were expected to be pushed over the financial brink, first by...

Bill Would Protect CUs, Banks On Bad Checks.(Hurricane Check Cashing Relief Act)(Brief Article)
October 3, 2005... WASHINGTON -- Members of the House Financial Services Committee last week introduced legislation that will provide insurance for credit unions and banks against bad checks or those drawn on insufficient funds during the recovery from hurricanes...

NCUA Delays Filing Deadline For Gulf CUs.(National Credit Union Administration )(Brief Article)
October 3, 2005... ALEXANDRIA, Va. -- NCUA said last week it will extend the filing deadline for third-quarter Call Reports for all credit unions affected by Hurricane Katrina. The agency noted that the U.S. Post Offices in New Orleans and in other cities...

Congress Asked To Enact Risk-Based Capital Plan.(National Credit Union Administration)(Brief Article)
October 3, 2005... WASHINGTON -- NCUA General Counsel Robert Fenner has asked Congress to include the agency's proposal to enact a risk-based capital system for credit unions, which was carefully excluded from a regulatory relief bill introduced last month. ...

16 CUs Fined For Late Filing of HMDA Data.(credit unions are fined for not collecting Home Mortgage Disclosure Act )(Brief Article)
October 3, 2005... ALEXANDRIA, Va. -- NCUA said last week it fined 16 credit unions a total of $178,750 for filing late Home Mortgage Disclosure Act reports, the first time ever the agency has issued such fines. Credit unions are required to collect HMDA data...

People.(credit union appointments)(Justin hebblethwaite appointed for Nevada Federal Credit Union)(Amedeo E. Bilotta for Leominster Credit Union)(Sheryl Cox for America First Federal Credit Union)
October 3, 2005... Pen Air FCU, Pensacola, Fla., announced the retirement of A.C. Martin, and elected to its board: Maurice Johnson, chairman; Betty Petree, vice chairman; Wanda Tyus, treasurer; Ann McCall, secretary; John Cihota, Bill Ezell and Grady Hester....

The CU Journal Daily.
October 3, 2005... AltaOne Offers 'Desperate' Loan RIDGECREST, Calif.-AltaOne FCU said it made $16 million in new mortgage loans in July with a mortgage loan campaign based on TV's hit 'Desperate Housewives' show. The campaign, developed by Redbeard...

Southeast Corporate: 'Prepare For Liquidity Cycle'.(Southeast Corporate Federal Credit Union)
October 3, 2005... TALLAHASSEE, Fla. -- Learning from the four hurricanes that struck Florida last year, Southeast Corporate FCU is taking quick action to aid credit unions affected by Hurricanes Katrina and Rita in Louisiana, Mississippi and Alabama. "So...

SWCFCU Provides Help.(Southwest Corporate Federal Credit Union )(Brief Article)
October 3, 2005... DALLAS -- Southwest Corporate has been working behind the scenes to help get credit unions up and running in the aftermath of Hurricanes Katrina and Rita. "In many cases credit unions have been able to set up from remote locations, and...

Many CUs Lack Flood Insurance.(credit unions )(Brief Article)
October 3, 2005... SAN FRANCISCO -- Even while credit union executives are digging out from Hurricane Katrina, and now Hurricane Rita, a new problem has emerged: many of the damaged credit unions do not have flood insurance. "Most of the credit unions in...

Storms Highlight Shared Branching.(credit unions shared branching networks)(Brief Article)
October 3, 2005... SAN FRANCISCO -- The mass dislocation of credit union members caused by Hurricane Katrina, and now Hurricane Rita, has proved a big boon to the shared branching concept. Dozens of credit union executives at CUNA's Future Forum said they may...

LaCorp Offering Zero Percent Loans.(Louisiana Corporate Credit Union)(Brief Article)
October 3, 2005... LENEXA, Kan. -- Louisiana Corporate CU, which is operating out of a contingency site at U.S. Central CU here, has reported strong demand of $15 million for special 0% interest disaster recovery loans it is offering members. "We have an initial...

Katrina Evacuees Charged With Fraud.(stolen releif funds from a local chapter of the American Red Cross)(Brief Article)
October 3, 2005... TALLAHASSEE, Fla. -- Five Hurricane Katrina evacuees from Mississippi were charged Friday with stealing $10,000 in extra relief funds from a local chapter of the American Red Cross. The five, all relatives, were charged with either stealing or...

What Credit Unions, Vendors Are Doing To Help.(Hurricane Katrina, 2005)(Hurricane Rita, 2005)
October 3, 2005... Lacamas Community CU is matching up to a total of $2,000 of donated funds...Scott CU raised more than $13,000 for the Red Cross, including $2,700 from Girl Scout Troop #296 alone. Scott CU reports every employee either donating cash or supplies...

Product & Service.
October 3, 2005... Ariz. CU Expands Instant Issuance ENGLEWOOD, Colo.-Dynamic Card Solutions (DCS), developer of CardWizard, an instant-issue and PIN selection software application, said that Phoenix-based Desert Schools FCU (DSFCU) has expanded the use of...

Whirlwinds & Hurricanes-Ensweiler Passes CUNA Gavel.(Dick Ensweiler resigning from Credit Union National Association)
October 3, 2005... SAN FRANCISCO -- An obviously weary Texas CU League President Dick Ensweiler, worn out from a month of combating hurricanes, officially passed the gavel as CUNA Chairman last week during the group's Annual General Meeting here. During...

Paying Via i-Pod: Popular Music Device To Add Feature: Ability To Make Electronic Payments.
October 3, 2005... SAN FRANCISCO -- In the latest entry into the payments market, Apple is expected to introduce an i-Pod for Christmas that will have the capacity to be a cell phone, provide video on demand, and even serve as a payments mechanism. The new...

Get Ready For SPIM.(Spamming Instant Messaging)(internet crimes)(Brief Article)
October 3, 2005... SAN FRANCISCO -- Cyber-crooks are moving on from phishing, pharming and spoofing to SPIM, bots and zombies; the latest schemes aimed at harvesting credit union data for illegal uses, credit union executives and directors were warned here. With...

FinCen Gets Hit.(government agency attacked by cyber criminals)(Financial Crimes Enforcement Network)(Brief Article)
October 3, 2005... SAN FRANCISCO -- FinCen, the federal government's central repository for criminal financial information, became the latest government agency to have its website shut down by a fraudulent cyber attack. Thompson told CUNA's annual Future Forum...

Community Page.(Tampa Bay Federal Credit Union)
October 3, 2005... Credit Union West Helps Food Bank In honor of National Hunger Awareness Day, Credit Union West, Glendale, Ariz., gathered food for the Westside Food Bank. FACU Awards 4 Scholarships EATONTOWN, N.J.-First Atlantic Credit Union...

Staff Given $50, Told To Donate It.(HAR-CO Maryland Credit Union)(Brief Article)
October 3, 2005... BEL AIR, Md. -- To mark HAR-CO Maryland Credit Union's 50th anniversary, each employee and volunteer was given a $50 bill-and then charged by CEO James Meehan to take the money and do something good for the Harford, Md., community. In all, 70...

Leagues Partner With USA Today On Site.(he California and Nevada Credit Union Leagues)(Brief Article)
October 3, 2005... RANCHO CUCAMONGA, Calif. -- The California and Nevada Credit Union Leagues have partnered with USA TODAY to sponsor a new "micro" website as part of an interactive, customized financial education program. The site was created and co-branded by...

CUNA Mutual Sells CUNA Mutual Mortgage To PHH Mortgage.
October 10, 2005... MADISON, Wis. -- In a surprise move, CUNA Mutual Group said last week it has agreed to sell off the assets of its CUNA Mutual Mortgage Corp. to PHH Corp., parent of PHH Mortgage. PHH has long been a player in credit union mortgages and in...

Storm-Affected CUs Up & Running; In Texas, Preparing For Evacuees Who Stay.(credit unions)
October 10, 2005... FARMERS BRANCH, Texas -- Credit unions in Texas have been playing double-duty, first helping to serve other credit unions' members displaced by Hurricane Katrina, and then scrambling to help their own after being hit by Hurricane Rita. "We...

Are Member Finances About To FALL Like The LEAVES?: Analysts Urge CUs To Monitor Now-Not Wait For Problems Later.(credit unions)
October 10, 2005... MADISON, Wis. -- Nearly every day, publications across America are reporting ominous rumbling sounds within the economy. Interest rates are rising, and the Fed is expected to push rates higher. Gas prices are topping $3 a gallon in many...

Bill Calls For Retroactive Flood Coverage.(flood insurance under the federal plan)
October 10, 2005... WASHINGTON -- In the first of what is expected to be a number of proposals aimed at resolving the massive shortfall in flood insurance in the Gulf Coast a bill introduced in Congress would allow hundreds of thousands of homeowners to buy...

Feds Back Volunteer Rebuilding Initiative.(Federal Emergency Management Agency launches initiative to provide assitance to hurricane victims)
October 10, 2005... WASHINGTON -- NCUA Chairman JoAnn Johnson joined officials with the Federal Emergency Management Agency and representatives from other government officials at the White House last week to launch an unprecedented volunteer initiative aimed at...

On Deadline.(new law enforces credit unions to issue notifications of data breaches)(Suncoast Schools Federal Credit Union to open call center)(credit union CEO's compensation survey)
October 10, 2005... Bill Would Require Breach Notifications WASHINGTON-Credit unions and banks would be required to notify customers if a data breach may cause identity theft or transaction fraud under a new bill expected to be introduced later this week. ...

New ABA Chairman, Simmons, Has Credit Unions Centered In His Sights.(American Bankers Association)(Harris Simmons )
October 10, 2005... SALT LAKE CITY -- Harris Simmons has taken over as the American Bankers Association's chairman-less than a month after new mortgage data led to a rash of headlines about lender discrimination. Yet the president and CEO of the $33-billion...

CEOs Invited To Summit (& Lunch) At BAI's RDS.(chief executive officers)(Bank Administration Institute )(Retail Delivery )(Brief Article)
October 10, 2005... ORLANDO, Fla. -- The Credit Union Journal has rescheduled our 2005 CEO Summit to coincide with BAI's Retail Delivery Show in November in Orlando. Originally scheduled for Dallas in October, the CEO Summit filled up almost immediately after...

Member Savings Hit 12-Month Low.(The Credit Union National Association)(Brief Article)
October 10, 2005... MADISON, Wis. -- Credit union members put away less money in savings during August. Analysis by CUNA shows savings balances at credit unions decreased 0.9% in August, the slowest growth rate in the past year. For the year, savings are up...

CU CEOs Pessimistic Over Economy.
October 10, 2005... DALLAS -- After rising briefly, credit union CEO confidence in the economy has again dropped, this time to the lowest level in the 18 months the survey has been conducted by Southwest Corporate FCU. The quarterly survey found that CEOs feel the...

Worth Noting.(National Credit Union Administration )(Brief Article)
October 10, 2005... NCUA Schedules Workshop... ALEXANDRIA-NCUA has slated a Small Credit Union Initiative Workshop for New York and the Boston area. A "Working to Create Opportunities for Credit Unions" work shop is scheduled for Nov. 19 at St. Marks United...

'Tax-Free Banking Bosses,' ABA Boss, & Boss With A Loss.(American Bankers Assoication)(Harris Simmons)
October 10, 2005... Credit unions generally get good press (when they get press at all). And then there's the coverage Massachusetts' credit unions got from the Boston Herald's Business Today and reporter Brett Arends. Under the headline, "Bad credit union...

Deploying Risk-Management In Home Equity.
October 10, 2005... In May 2005, a collective team of heavy-hitting financial oversight agencies, including the NCUA, the Office of the Comptroller of the Currency and the Fed, issued a report asserting that, in general, financial institutions' credit...

Letters To The Editor.(Letter to the Editor)
October 10, 2005... SEC-Related Reference Not Relevant To CUs I read "Not In E-Mail Compliance? TroubleYourCU.org" in the Sept. 26th, 2005 edition of The Credit Union Journal. Obviously the headlines were meant to grab the readers' attention. While I am...

Non-CU Person Sought For NCUF Board.(Credit Union )(National Credit Union Foundation )(Brief Article)
October 10, 2005... WASHINGTON, D.C. -- Seeking a broader perspective, the National Credit Union Foundation is looking to add a board member from outside credit unions. "This at-large seat is, in my opinion, designed to bring an outside perspective to the...

AEDC Announces Special Bonus Dividend.(AEDC Federal Credit Union)(Brief Article)
October 10, 2005... TULLAHOMA, Tenn. -- For the first time in its 54-year history, AEDC FCU will pay a bonus dividend and loan interest refund to members. The credit union will pay a bonus dividend equal to 6.25% of a member's total year-to-date dividends,...

Fishing Hat Bandit Gives CEO Souvenir.(chief executive officer)(Brief Article)
October 10, 2005... EDINA, Minn. -- Dean Wickstrom, the president of Real Financial Center Credit Union who helped bag the state's most prolific bank robber earlier this year, probably won't receive the $50,000 FBI reward for his role because employees of credit...

Trio To Be Inducted Into CUES Hall of Fame.(Credit Union Executives Society)(appointments)(Brief Article)
October 10, 2005... MADISON, Wis. -- Joseph M. Finnigan, Robert W. Hoefer and Michelle "Mickey" Wilson will be inducted into the Credit Union Executives Society's Hall of Fame. Finnigan, CEO of Vermont FCU, has overseen growth to $100 million in assets from...

The Steps One Small Credit Union Took Before It Chose A Merger Partner.(Valley Health Credit Union)(Lakeview Credit Union)
October 10, 2005... NEENAH, Wis. -- When one small credit union here disappears in a merger this month, it won't be because it lost control of its destiny. Rather, the merger will conclude significant homework done by the small CU, which has also taken the...

Bankruptcy Reform Preview: Analyst: 'Be Careful What You Ask For'.
October 10, 2005... LAS VEGAS -- Credit unions were among the prime supporters of bankruptcy "reform" legislation signed by President Bush in April. But will the bill, which goes into effect Oct. 17, really provide credit unions with what they were seeking? ...

Credit Union 'A' Vs. 'B' Vs. 'C': Three Portfolios, Three Strategies, Three Results.
October 10, 2005... LAS VEGAS -- Your credit union starts each morning with a pile of cash. How much larger is that pile of cash at the end of the day? That question is determined in large part by an individual CU's investment strategy, but the answer can't be...

CUs Voice Opposition To Plan By ABA Chair's Bank.(credit unions)(American Bankers Association)(Harris Simmons)
October 10, 2005... WASHINGTON -- It didn't take long for CUNA to fire back at new American Bankers Association Chairman Harris Simmons, the president of Zions Bancorp in Salt Lake City and a long-time foe of credit unions. In an unusual move, CUNA said last...

CUNA Offers Input Into Hurricane Katrina Bill.(The Credit Union National Association)(Brief Article)
October 10, 2005... WASHINGTON -- Dozens of credit unions and banks in the area hit by Hurricane Katrina would be given forbearance on minimum capital requirements-called PCA for prompt corrective action-under a bill introduced by New Orleans Congressman Richard...

NCUA To Partner With Export-Import Bank.(National Credit Union Administration)(Export-Import Bank )(Brief Article)
October 10, 2005... WASHINGTON -- NCUA said it has signed an agreement with the Export-Import Bank to increase awareness of Ex-Im's loan guarantees, export credit insurance and direct loans among credit unions. NCUA said it will help identify individual credit...

People.(Leominster Credit Union appoints)(Northwest Corporate Federal Credit Union appoints )(Emick Howard & Seibert Inc appoints)
October 10, 2005... Leominster Credit Union, Leominster, Mass., elected to its board: Amedeo E. Bilotta, chairman; Leo R. Bachant, vice chairman; Giulio G. Greco, clerk; John W. Reedy, Jr., treasurer; Rosemary Bracani, assistant treasurer; Anthony Gasbarro, Nancy...

The CU Journal Daily.
October 10, 2005... Google Now In Electronic Payments PALO ALTO, Calif.-Internet search engine giant Google said it has completed beta testing of its fledgling electronic funds transfer service and is ready to unveil person-to-person payments to its millions...

How To Get Up To Speed In Complying With Two Laws.(Fair and Accurate Credit Transactions Act, USA Patriot Act)
October 10, 2005... LAS VEGAS -- Two pieces of legislation-the FACT Act and the USA Patriot Act-have created enormous compliance requirements for credit unions. Some analysts have suggested that as a result many credit unions are not in compliance with the...

Product & Service.(Dollar Associates, LLC.)
October 10, 2005... CUNA Mutual Announces Webinars MADISON, Wis.-CUNA Mutual Group has announced a new series of webinars. Among them: Investment Risk Measurement Fundamentals (Oct. 12); Buying the Right Investment (Oct. 19) and Portfolio Strategies (Oct....

What Lies Ahead For Gulf? A National Perspective...
October 10, 2005... ALEXANDRIA, Va. -- NCUA reports that all credit unions affected by Hurricanes Katrina and Rita are back in operation either out of their own facilities or at remote and other CUs' facilities, but the long-term affects of these storms are...

...And Advice From A Fla. CU That Was Hit By Andrew.
October 10, 2005... PEMBROKE PINES, Fla. -- What can credit unions affected by Hurricanes Katrina and Rita expect over the next few months? Many have drawn parallels between these storms and 1992's Hurricane Andrew, a category 5 storm that hit Miami-Dade...

CIO, Symitar Put Their 'iQ' To Good Use.(chief information officers)
October 10, 2005... VANCOUVER, Wash. -- The things people dream up over a cup of coffee. IQ Credit Union CIO Jim Morrell was eating breakfast a week before he would attend the Symitar client conference and reading the morning newspaper. The images of...

First Warning Signs Of Trouble Will Be Made of Plastic.
October 10, 2005... NORTH PALM BEACH, Fla. -- The first sign a member is in financial trouble can usually be found in the form of plastic, and credit union officials around the nation are bracing for increases in credit card delinquencies. A recent ABA study...

Opportunties For CUs Are Seen In '1031 Exchange' Plans.(credit unions)(Section 1.1031 of the Internal Revenue Code laid out in detail the procedure for turning a sale and purchase type transaction into an exchange)
October 10, 2005... KANSAS CITY, Kan. -- Do you know what a 1031 Exchange is? Some people do. And they believe they hold great opportunities for credit unions. Two such proponents, Peter Paulson, EVP with Corporate America Family Credit Union, Elgin,...

Langley FCU Says Payday Alternative Saved $230K.(Federal Credit Union)(Brief Article)
October 10, 2005... NEWPORT NEWS, Va. -- One year after launch, Langley FCU said its QuickCash program has saved members who might have otherwise used a payday lender-more than $230,000. The program was designed to offer an alternative to payday lenders. The...

Texas Twister To Have Sister Race In Afghanistan.(Brief Article)
October 10, 2005... BAGRAM, Afghanistan -- When Texas credit unions host their annual Credit Union Texas Twister run in Austin, Texas on Oct. 30, members of the military deployed here will stage a sister run. At the Army's Task Force Eagle base in Bagram,...

Product & Service.
October 10, 2005... Four Co.'s Form Platform Alliance BROOKFIELD, Wis.-Fiserv said that CredStar, from Fiserv Lending Solutions, has formed a strategic alliance with PCi Corporation (PCi), a Bankers Systems and Wolters Kluwer business. CredStar will increase...

Filene Institute Backing 'REAL' Solution To Offering Payday Loan Alternative.(Filene Research Institute)
October 10, 2005... MADISON, Wis. -- Horror stories of payday lending or check cashing are nothing new. Many "loans" can't be paid off in a couple of weeks and poor workers without any means of remaining current "roll over" their loans at astronomical APRs. Far...

How To Tell Risk From Reward In Loan Programs.
October 10, 2005... SAN FRANCISCO -- Indirect auto lending is well-known for delivering both risk and reward. One group of credit unions here was given advice on how to tell the difference. Seventy percent of the top 500 credit unions now do indirect lending....

CUNA Mutual Expects Fraud Losses To Double During 2005.(Cuna Mutual Group)
October 10, 2005... SAN FRANCISCO -- Just because you haven't been victimized by a plastic card scam doesn't mean you won't be, cautioned one expert. Ann Davidson, CUNA Mutual Group payment systems risk manager, told CUNA Future Forum attendees plastic card...

Think It's Expensive Now? Wait Until You Retire.
October 10, 2005... SAN FRANCISCO -- Most credit union employees can expect difficulty maintaining their current lifestyle and closing gaps in health care when they retire, according to two analysts. The reasons, said Mary McNeill, vice president, and Tom...

Community Page.(Mountain Credit Union)(Western North Carolina Chapter of Credit Unions)
October 10, 2005... Mountain CU Receives Awards The North Carolina CUL awarded the Dora Maxwell Social Responsibility Award and the Desjardins Youth Financial Education Award to Mountain Credit Union in Waynesville, N.C. N.C. Chapter of CUs Wins Award ...

For $11,000, Schumacher Joins Temptations On-Stage.(National Credit Union Foundation's Bob Schumacher performs a song at the benefit event)
October 10, 2005... SAN FRANCISCO -- Cheered on by nearly 1,000 attendees at the 25th anniversary benefit of the National CU Foundation, NCUF Board member Bob Schumacher sang The Temptations' greatest hits with original singer Dennis Edwards and the Temptations...