Banking Wire articles from June 2008

Banking Wire archives from June 2008

No Mess In Texas, But Similar Challenges In Growing Loan Portfolios.
June 2, 2008... PLANO, Texas -- One of the earliest barometers for the health of credit unions is their respective corporate CU. And in that case, Southwest Corporate FCU is reporting Lone Star CUs seem to be doing better than many of their counterparts...

Houston, We Don't Have A Problem: But Space Center's CU's Out Of This World FOM Does Have Some Unique Demands.
June 2, 2008... HOUSTON -- Walk into the Houston branch of JSC FCU and you might see a Russian cosmonaut doing business with member services. You wont be able to tell him apart from the rest of the members, except for the interpreter by his side. JSC FCU...

CUSO: Mortgage Meltdown Is Offering A Rare Opportunity CUs Must Leverage.
June 2, 2008... TUKWILA, Wash. -- While others in the mortgage business are suffering, 2007 proved to be a banner year for the mortgage CUSO Prime Alliance Solutions Inc., and its success is continuing on into 2008. Though mortgage production nationally...

Under the Microscope: Latest Developments In Research.
June 2, 2008... How The Subprime Crisis Here Hurt Global Economy BOSTONFinancial research and consulting firm Celent is attempting to explain how the subprime crisis here in the U.S. precipitated a major global economic downturn in its recent report...

The Ramifications Of Remote Deposit Capture Success.
June 2, 2008... BOSTON -- Remote deposit capture, or RDC, is impacting branch foot traffic in 60% of banks that offer it, according to a Celent study. The financial institution research and advisory firm said implications for banks are profound: fewer...

Agent4Change Targets Youth.
June 2, 2008... CALGARY, Alberta -- This provinces credit unions have concluded accepting entries for their Agent4Change contest aimed at youth. Entrants submitted videos of their causes at www.agent4change.ca, with voters electing their Top 10. The...

How SECU Foundation Found A Way To Help Finance American Dream For Teachers.
June 2, 2008... RALEIGH, N.C. -- Build it and they will comebut only if they can afford the financing. Attracting good teachers to underserved areas has always been a dilemma for school boards particularly in rural and urban areas. In North Carolina,...

Murdering Mom's Van Sought.
June 2, 2008... LOUISVILLE, KY. -- Park Community FCU is seeking to repossess the van of a woman who has been charged with murdering her two children. The credit union filed the motion in U.S. Bankruptcy Court here seeking to reposess a 1999 Ford Windstar...

Wild Blue Yonder Getting Wilder To Serve As Airline Industry Struggles.
June 2, 2008... TEMPE, Ariz. -- The proposed merger of Northwest Airlines and Delta and the multiple bankruptcy filings by four smaller airlines have shaken things upbut not shaken the faithamong credit unions serving the tumultuous airline industry. It...

Could Bankers Use Kansas Law As Model To Restrict FOM Elsewhere?
June 2, 2008... WICHITA, Kan. -- Could the passage of a law that will greatly restrict fields of membership for credit unions be used by the bankers as a model bill to press the FOM fight in other states? While such strategies have been pursued before,...

Lights, Camera, Interaction!: CUs Turn To Video Conferencing To Bring Scattered Staff Together.
June 3, 2008... ORANGE, Calif. -- Shoot off an e-mail. Pick up the phone. Have a face-to-face. Andat some credit unionsroll cameras. It seems that certain credit unions, large and small, cant imagine doing their daily business without video conferencing....

It's Not Easy Being Green?: When Your FOM Includes The EPA, Being Eco-Conscious Comes With The Territory.
June 3, 2008... CINCINNATI -- Walk into Cincinnati Interagency FCU and head to CEO Karen Andersons office and youll see a pile of paperwork on her desk. But dont let that fool you about her intent to run the credit union as environmentally friendly as...

On Deadline.
June 3, 2008... Another Mega-Merger Announced In So. Calif. BREA, Calif.CU of Southern California and Visterra CU have announced plans to consolidate, pending approval by state and federal regulators, and members of CU SoCal. The newly combined...

PSCU Hires Star Football Coach To Burnish Image.
June 3, 2008... FT. COLLINS, Colo -- Sonny Lubick, well-known in this market as the former football coach at Colorado State University, has been hired by Public Service Credit Union as VP- Community Outreach and Public Relations. Lubick has been hired in part...

WOCCU Efforts To Help Open CU In Haiti Stymied.
June 3, 2008... PORT-AU-PRINCE, Haiti -- A World Council of Credit Unions effort to develop a new credit union here was stymied for a week as violent demonstrations shut down the capital city just as the team arrived to get started. WOCCUs Paul Wendland...

First Basin CU Stymies Attempt To Replace 3 Board Members.
June 3, 2008... ODESSA, Texas -- In a scenario reminiscent of previous battles over credit union conversions, employees of First Basin Credit Union turned out in large numbers to help three volunteer directors reclaim their seats in an election held at last...

Homes For Our Troops Breaks Ground On Wounded Vet's Home.
June 3, 2008... DENVER, Colo. -- The Homes For Our Troops initiative, which builds homes for wounded war veterans with their special needs in mind, celebrated along with credit union supporters the groundbreaking for a home for SSG Travis Strong and his...

Post Card from the CU Past.
June 3, 2008... MADISON, Wis. -- In 1958, women were still referred to by their husband's name, making it easy for the archivist to attach the spouses shown in this photo with their respective credit union pioneers. Attending the Credit Union National...

Group Formed To Plan Centennial.
June 3, 2008... WASHINGTON -- A group has been formed to help mark the 100th anniversary of credit unions in the U.S., which is technically in 2008 but is being celebrated in 2009 since that was the year Massachusetts passed the first enabling legislation....

Worth Noting.
June 3, 2008... Canadian Merger Deal Has Hinge TORONTOA merger between two Credit Union Centrals in Canada now appears to hinge on whether credit unions in Ontario will buy as much as $100 million in commercial paper from one of the corporates. CU Central...

CURIA COUNTER - 148.
June 4, 2008... At press time, the number of co-sponsors on the CURIA bill. 218 are needed to have a majority. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

Mind The Generation Gap-Or Prepare To Fail.
June 4, 2008... MADISION, Wisc. -- Credit unions are losing out on opportunities if they dont address their generation gap, reports CUNA Mutual. Pointing to CUs low member penetration among 18- to 34-year-olds and those over 65, Jeffrey Hunt, consumer...

Three Payment Strategies That Can Help Drive Growth.
June 4, 2008... RANCHO CUCAMONGA, Calif. -- Get ready to go home armed with three actionable items for member growth and profit improvement through payment systems. Thats what Jim Hannisch, EVP of CO-OP Financial Services said attendees at his session...

Now In The Market.
June 4, 2008... Pemco Joins CU 24s Network SEATTLEPemco Technologies has signed with Credit Union 24s surcharge-free ATM network, the CU HERE Premium program. Credit Union 24 recently added the Allpoint Network to its CU HERE program, creating the largest...

Video Saluting CUs' Centennial Will Get Red Carpet Treatment At Historic Theater.
June 4, 2008... MANCHESTER, N.H. -- A red carpet premier at a local historic theater is planned for a video now being created as a salute to the 100th anniversary of credit unions. Sponsored by Americas CUMuseum, the video will first be shown at the...

Illinois Governor To Return Millions Of Dollars 'Raided' From CU Trust Fund.
June 4, 2008... SPRINGFIELD, Ill.A four-year legal battle appeared near an end last week, when the administration of Gov. Rod Blagojevich agreed to give back millions of dollars it raided from segregated trust funds for credit unions, banks and thrifts, in...

How Hugging The Earth Can Sometimes Hug You Right Back.
June 4, 2008... Lets face it. Some credit union CEOs just produce a lot of gas. Hot air. Bluster. Bravado. But mostly, gas. Theyre not alone. Their management teams and their boards are, well, gassy, too. Indeed, their entire credit union is one big gas bag....

How To Make Sure You Aren't The 'Low-Hanging Fruit' For Fraud.
June 4, 2008... Malware writers continue to find new and inventive ways to infiltrate credit union computer networks and get past traditional security systems that were designed to stop them. Over the last year weve witnessed cyber criminals direct their...

Credit Unions In The Media.
June 4, 2008... BusinessWeek suggested in a news story that credit unions are the place for budding entrepreneurs and business owners. Noting how credit has been tightened by banks, the story profiled several people who got a loan through a credit union,...

Now In The Market.
June 4, 2008... MEMBERS Trust Reaches Milestone TAMPA, Fla.uMEMBERS Trust Co. is reporting it now has more than a half-billion dollars under management. The company opened in November of 2003 as a federal thrift serving credit unions and offers a national...

How & Why CUs Must Ramp Up Collaboration To Drive Growth.
June 5, 2008... MADISON, Wis. -- In market in which the only thing increasing is expenses and competition and the only thing shrinking is margins, credit unions have no choice but to trust each other and collaborate to survive, according to a new report...

Visit Greener Side of Marketing.
June 5, 2008... INDIANAPOLIS -- Eli Lily FCUs CUSO has opened an in-house advertising agency called The Greener Side. The Greener Side specializes in comprehensive, creative marketing services, just for credit unions including marketing consulting,...

Where To Invest In Technology To Help Fuel Gen Y Member Growth.
June 5, 2008... With membership growth hovering barely above 1% and more competitors vying for consumers wallet share, attracting new members is an important but formidable goal for credit unions today. For those willing to make targeted, strategic investments...

Treasury Plan Dispels Myth Of Fairness In Capital.
June 5, 2008... Dispelling all thoughts of fairness and equity existing in Washington evaporated with the announcement of this reform plan. Perhaps it should be renamed the lets see if we can get the suckers [the public] to pay for more bank failures. Did you...

Now In The Market.
June 5, 2008... Stanford FCU Deploys PayLynx PALO ALTO, Calif.Stanford FCU became the first credit union to deploy PayLynx for Small Business, a new service offered by PSCU Financial Services. The $800-million credit union migrated its small business...

Readers Weigh In On Treasury's Reform Plan.
June 5, 2008... WEST PALM BEACH, Fla. -- CU Journal gives readers the opportunity to weigh in on a variety of issues. To add your two cents or see past surveys, visit www.cujournal.com. CU JOURNAL ONLINE SURVEY What will become of the Treasury...

CURIA Waits for Bipartisan Senate Gesture To Occur.
June 5, 2008... WASHINGTON -- Five weeks after being promised a Senate version of CURIAthe CU Regulatory Improvements Actthe CU lobby still is waiting for the bill, as a second shoe to drop. That shoe would be worn by a Senate Republican, indicating...

Window Closing Fast on NCUA Board Nomination.
June 5, 2008... WASHINGTON -- Chances of the Senate confirming a successor to NCUA Chairman JoAnn Johnson are dwindling as the nomination of Michael Fryzel continues to languish before the Senate Banking Committee, four months after it was sent there by...

NCUA Eyes Rare CU-Bank Merger In Massachusetts.
June 5, 2008... ALEXANDRIA, Va. -- The NCUA Board next week is expected to approve the unusual combination of a credit union with a mutual savings bank. The rare merger of Haverhill, Mass.-based Northeast Community CU with nearby Haverhill Bank has been...

Congress Eyes Bailout of Student Loan Market.
June 5, 2008... WASHINGTON -- Key Democratic Senators joined members of the House last week in urging the Bush administration to intervene in the student loan markets by making federal funding available, as increasing numbers of lenders are exiting the market....

Banking Giants Falter on Bid For Check 21 Patent.
June 6, 2008... WASHINGTON -- An effort by several big banks to carve out an exemption from key Check 21 patents appears to be dead after its chief Senate backer withdrew his support. Alabama Republican Jeff Sessions said he believes the provision in the...

Bava To Succeed Roberts At CCCU.
June 6, 2008... LIVONIA, Mich. -- Community Choice CU last week announced that its president, Robert Bava, will succeed CEO Catherine Roberts, who is retiring June 30. Roberts began her credit union career in 1976 as general manager/assistant treasurer at...

Yolo FCU Gets $100K FHLB Grant.
June 6, 2008... WOODLAND, Calif. -- The Federal Home Loan Bank of San Francisco awarded Yolo FCU a $100,000 grant through its Workforce Initiative Subsidy for Homeownership, or WISH, program. The money will be used to provide grants of up to $15,000 to...

Telcom Pays For Name In Town.
June 6, 2008... BERKLEY, Mich. -- Telcom CU has agreed to donate $7,500 to the city here in exchange for having its logo and name featured on community publications and at recreational events. Under the deal the city hopes will help defray the costs for...

Two Robbers Get Life Sentences.
June 6, 2008... GALVESTON, Texas -- Two men who were found guilty of a violent 2005 armed robbery at University FCU, and later shot a witness to the crime, were sentenced to life in prison. Keelon Senegal and Broderick York, both 31, each received two...

The Color Of Money: How One CU Is Encouraging Its Members To Go Green.
June 6, 2008... HOUSTON -- Sometimes going green doesnt take as much effort as many credit unions might envision. Take BP FCU here. It has kicked off a Go Green campaign that repackages many of its e-banking services it offers and adds a little extra...

Save The Green And Win The Green At Vantage CU.
June 6, 2008... ST. LOUIS -- Vantage CU has kicked off year-long campaign built around a green theme. The campaign emphasizes that members can save the green at the credit union while also having the opportunity to win the greenin this case a 2008 Toyota...

Missoula FCU Hosts Its First 'Sustainability Fair'.
June 6, 2008... MISSOULA, Mont. -- Missoula FCU hosted its first-ever Sustainability Fair aimed at getting out information from a variety of sources on environmentally friendly practices. More than 200 people and 25 vendors turned out for the event at a local...

Eco Issues Are Driving Some CUs' Strategies.
June 6, 2008... ST. PETERSBURG, Fla. -- PSCU Financial Services reports a number of its member credit unions have been citing environmental reasons driving their decisions and marketing, including expansion into online bill payment services. Langley FCU...

Card Marketing Takes Aim At Environment, Charities.
June 6, 2008... ATLANTA -- Green marketing campaigns are spurring some cardholders to take environmental or charitable action, according to results from a new study. The study, from SYNERGISTICS and titled New Opportunities in Credit Card Marketing, found...

Why Internet Banking Is Becoming 'Cult Of Personality' At Some CUs.
June 9, 2008... WAUWATOSA, Wis. -- A Harley Davidson owner logged-in and nicknamed his online account 07 Bagger. One of the credit union tellers dubbed her checking account Never Enough. Indeed, its the little things that leave a big footprint at the...

Technology News.
June 9, 2008... Hearing Impaired System In Scam AUSTINThe Credit Union Information Services Professionals Association (CUISPA) is reporting it has received at least two notices in the last six weeks from credit unions experiencing voice-phishing attempts...

One Of The Last Indie Tech Co's Marks 30th Anniversary Of Serving Up IBM To CUs.
June 9, 2008... SANDY, Utah -- Never one to fool around with banks or Microsoft, CMC here is marking a 30-year love affair with credit unions and IBM, according to Sean Holcomb, SVP at CMC. Started by his father in 1978, the Computer Marketing Corp. (CMC)...

No Country For Small CUs: How 1 IT Team Keeps Dodging Bullets.
June 9, 2008... LOS ANGELES -- Richard Nelson is proud of what his two-person IT department has done for the $49-million Cityside FCU here, especially since small CUs have few resources and tend to hide technology in the basement, he said. Many small...

How 6 Small CUs Are Meeting Technology Demands.
June 9, 2008... SANTA ROSA, Calif. -- Technology takes center stage at Community First Credit Union here this year, as the $120-million CU adds its first integrated lending application as well as its first imaging and document systemsamong several other...

ITems.
June 9, 2008... LA DOTD Using Simpler-Webb BATON ROUGE, La.After a Microsoft Exchange migration completed by Austin-based, Simpler-Webb, Inc., LA DOTD FCU has also implemented Simpler-Webbs Managed Server product. Rather than trying to implement in-house...

Reader Technology Questions.
June 9, 2008... Were planning to take the plunge on mobile banking. But is this purely a transactional process, or are there any sales/revenue opportunities? What is your panels experience with sharing IT staff, sharing IT staff between credit unions as a...

'It's Not You, It's Me' CU Style: Tinker Turns To 3rd Party For Workload Scheduling.
June 9, 2008... TINKER AIR FORCE BASE, Okla. -- When Tinker FCU here walked away from Symitars job-scheduling tool and went with an IBM solution instead, there were no hard feelings. We recognize that no single product fits every credit unions needs, said...

VeriSign Reaches 100 CUs.
June 9, 2008... MOUNTAIN VIEW, Calif. -- VeriSign reported that more than 100 credit unions are now using the companys services to protect their Internet sites with advanced security solutions. Among the most recent to sign on have been Michigan State...

California CU Implements OSI.
June 9, 2008... GLENDALE, Calif. -- California Credit Union implemented Open Solutions IA Systems browser-based, customizable, paperless, end-to-end loan origination system, StreamLend Velocity. The $1-billion credit union said since implementing StreamLend...

Cypress Celebrates Record Sales.
June 10, 2008... NORTH RICHLAND HILLS, Texas -- Cypress Software Systems LP announced record sales in 2007 with revenue growth of 40% and earnings increasing 117%. Those figures include 26 new customers signing 32 new contracts for the companys automated loan...

4 Vendors Offering Xpress Accts.
June 10, 2008... LAKEWOOD, Colo. -- The Credit Union Service Network (CUSN) and CO-OP Shared Branching are pleased to announce that they have partnered with EPL Inc. and MeridianLink to offer XPress Accounts to their subscriber credit unions. XPress...

CU*Answers Network Growing.
June 10, 2008... GRAND RAPIDS, Mich. -- CU*Answers reported its cu.asterisk.com network of partners has now grown to five, four of which are CUSOs, including CU*Answers itself. Others include CU*NorthWest, CU*South, eDOC Innovations, and Xtend Inc. are all...

INOVA Selects Open Solutions.
June 10, 2008... ELKHART, Ind. -- INOVA FCU has selected Open Solutions Inc.s The Complete Credit Union Solution: DNA, its latest release of its relational core data processing platform for credit unions. The $275-million INOVA FCU serves 32,000 members and has...

Southwest Expands Image Exchange.
June 10, 2008... PLANO, Texas -- Southwest Corporate FCU said it has significantly expanded its ability to offer end-to-end image exchange points by joining SVPCO, the electronic and check clearing business of The Clearing House Payments Company LLC. By signing...

Are You Targeting The Hispanic Market? Here's Why That Strategy Isn't Working.
June 10, 2008... PONTE VEDRA, Fla. -- Does your credit union have a strategy for marketing to Hispanics? That may be your problem right there. One expert who not only leads a banking unit targeted at the Latino community but who has also been a consultant...

What To Understand, Assess, Evaluate & Define When Serving Hispanics.
June 10, 2008... PONTE VEDRA, Fla. -- Seeking to better serve the Hispanic market? Expert Luz Lopez Urrutia had this advice: * Understand the size and segmentation of the Latino market in YOUR market. If census says there are 100,000 Latinos, its probably...

Georgia CU Start-Up Plans To Serve Atlanta's Unbanked Latino Community.
June 10, 2008... ATLANTA -- Even as several start-up banks that were targeting the Latino population have given up and started mainstreaming, a start-up CU in Georgia is looking to succeed where those banks failed. Paola Diaz-Torres, one of the organizers...

How One CU Has Learned To Change (Slowly) With The Times.
June 10, 2008... PONTE VEDRA, Fla. -- Life for a credit union CEO isnt as easy as it was a decade ago, as one such leader readily admits. Growth has slowed. Expense ratios have increased. Offer 100 new products, and members want 101. Yet Navigant Credit...

Credit Unions In The Media.
June 10, 2008... The Missoulian shared the story of the modest roots of Whitefish, Mont.-based Whitefish CU and how five railroad workers during the Great Depression pooled $25 to get WCU founded. The story quoted CEO Charles Abell on how the CU is now...

Now In The Market.
June 11, 2008... Capital CU Signs With OneBridge INDIANAPOLISOneBridge reported that the $200-million Capital Credit Union in Bismarck, N.D. has signed a long-term renewal agreement with OneBridge for Visa credit. Capital CU has been with OneBridge since...

Eye On The Competition.
June 11, 2008... CFSAA Payday Pundit Blog Taken Off The Internet WASHINGTONThe Community Financial Services Association of America, the trade association of payday lenders, had launched a blog, Payday Pundit, that the Internet Service Provider has since...

How CUs Will Have To Reinvent Themselves To Reach Gen Y.
June 11, 2008... ST. PETERSBURG, Fla. -- Between the sheer size of Generation Y and the array of electronic channels members of this generation use, credit unions will have to reinvent how they market products to this segment in order to remain relevant. ...

Now In The Market.
June 11, 2008... Elan Signs Up Four CU Clients MINNEAPOLISuElan Financial Services has signed agreements with four new credit unions in the first quarter of 2008, adding more than $40 million in card balances to ElanEs portfolio. Elan purchased...

Quick Reads.
June 11, 2008... Filene Research Offers Web Page MADISON, Wis.Thanks to financial support from several members, the Filene Reserach Institute has created a special web page that offers complimentary, unrestricted, electronic access to a select number of its...

Under the Microscope: Latest Developments In Research.
June 11, 2008... Survey: Wal-Mart Appeals To Hispanic Consumers ATLANTAA new survey indicates that one-third of Hispanic consumers say they would be likely to use the kinds of financial services being introduced by retailers such as Wal-Mart. The...

CUJ EXIT Interview: Williams Shares Insight Gained From 43 Years' Experience In CU Movement.
June 11, 2008... ROANOKE, Va. -- Thirty-five years ago Richard Williams went to work for what was then N&W CU, serving employees of Norfolk & Western and operating out of an office in the basement of the sponsors building. Williams is now retiring as CEO from...

Five Students Keeping It In Their Pants.
June 11, 2008... WASHINGTON -- Five students from across the United Statesthree from Ohio, one from Philadelphia and one from Michiganhave been selected as the finalists in the Web-based video contest at www.KeepItInYourPants.org that offers a top prize of...

Turbulence In Airline Industry Has Impact On CUs.
June 11, 2008... ATLANTA -- Turbulence in the airline industry is buffeting both its workforce and the credit unions that serve it. In recent weeks four airlines have either shut down abruptly or entered into bankruptcyATA Airlines, Skybus, Aloha Airlines...

One Airline CU Takes Flight In Midst Of Turmoil.
June 11, 2008... TEMPE, Ariz. -- The airline industry may be consolidating, but Continental FCU is branching out, starting with moving its headquarters from El Segundo, Calif. to this market. The credit union had long since outgrown its El Segundo facilities;...

On Your Marks, Get Set, GROW!: Key Theme At Journal Conference: To Grow, Don't Think About Growth.(Conference news)
June 12, 2008... ORLANDO, Fla. -- Not surprisingly, growth dominated the discussion last week during Credit Union Journals Grow Show here. More surprisingly, perhaps, was that it was generally agreed by many of the fastest-growing credit unions in the country...

Bankers Take The Fizz Out Of Push To Pass 'CURIA Lite'.
June 12, 2008... WASHINGTON -- A withering lobby by the bankers last week killed an effort to bring the credit union regulatory relief bill, known as CURRA, to a vote in Congress, sending the credit union lobbyists scurrying to regroup. We think it would...

How Will Your Members Use Their Economic Stim. Checks?
June 12, 2008... PHOENIX -- As the government prepares to send out economic stimulus payouts and tax refunds, credit unions are trying to motivate their members on the most beneficial ways to spendor savetheir found money. The economic stimulus...

Members Line Up To Withdraw Funds At Troubled CalState 9.
June 12, 2008... CONCORD, Calif. -- Members continued to draw their funds out of ailing Cal State 9 CU at an increasing rate in the first quarter, while losses at the one-time $465-million institution, another victim of the mortgage crisis, continued to grow....