Journal Daily

CUNA Seeks Term Limits For Boards

WASHINGTON, D.C.-CUNA is lobbying Congress to include in the pending regulatory relief bill a provision that would allow federal credit unions to establish term limits for directors.

The measure so far has been rejected by lawmakers but may be reconsidered when House members start marking up the bill, expected to occur May 15.

In testimony submitted to the House Financial Services Subcommittee on Financial Institutions, CUNA's witness Charlene Gaither, of Eastern Panhandle Community FCU, Martinsburg, W.V., said CUs should have the authority to limit directors' terms as a means to ensure broader representation from members.

Postal CUs Form ATM Network

MAUI, Hawaii-Members of the National Council of Postal CUs are combining their resources to create their own proprietary ATM network from their existing infrastructure.

The new system, tentatively called Postal CU Network, is aimed at saving members of the nation's 380 postal credit unions on foreign fees charged by independent processors for transactions, according to Kathy Clark, a spokesperson for the Council.

"This is an opportunity to create our own network," Clark told The Credit Union Journal. The network will initially be open to the Council's 150 credit union members. The fledgling network is currently undergoing a test pilot between nine postal credit unions.

Shared Branch Offers IRnet Service

HOOVER, Ala.-The Hoover Service Center has become the first in the CU Service Center network to implement the International Remittance Network (IRnet) service, the low-cost money transfer system. The service center has also hired a full-time bilingual employee to assist in communicating with Hispanics, a major target for the service.

IRnet was created by the World Council of CUs with an aim to provide U.S. migrants with an inexpensive option to send funds home through the credit union system.

UAECU Aids Funds Repatriation

CHICAGO-United Airlines Employees CU said it has contracted with Payment Partners of Irvine, Calif., to make the company's En'point international funds transfer service available to its members.

The service will allow thousands of overseas credit union members to move funds safely and easily to their U.S.-based credit union accounts.

Telhio CU Pilots 'Blended Branch' Concept

COLUMBUS, Ohio-Telhio CU has opened what it referring to as a 'blended branch,' which provides members with both the traditional bank-teller interface and a modern cyberbranch with computer access in an area designed like a home office.

The blended branch, designed by Atlanta-based International Banking Technologies, is aimed at expanding the credit union's membership base, offering members a variety of convenient ways to conduct transactions, and educating members about services appropriate to their own needs.

The approach, embodied in the credit union's theme, 'Anything you can do here, you can also do from home,' conveys the idea that transactions can be conducted with Internet access or the telephone anywhere, anytime.

NCR Pilots ATM Access Via Mobile Phones

DAYTON, Ohio-NCR Corp. reported that consumers successfully withdrew cash from three ATMs owned by two local banks in Denmark using mobile phones during a pilot project over the weekend.

Under the pilot, the consumers enters the transaction type and amount on their phones, then keys in a security identification number on the phone and the transaction details are transmitted to the ATM and the machine dispenses the cash.

The pilot is part of NCR's 'Freedom' concept with which the world's leading ATM maker sees mobile devices replacing magnetic-stripe cards.

The Danish pilot is the first time a mobile phone is being used to withdraw cash in a live environment.

Teller Banned For Embezzlement Scheme

ALEXANDRIA, Va.-NCUA said it barred Chenay Fuller, a former teller at Alcon Employees FCU, from the credit union industry for embezzling more than $63,000 from the Fort Worth, Texas, credit union.

Fuller pleaded guilty in federal court to one count of bank embezzlement and was sentenced to three months in jail and home confinement for 90 days after release, and ordered to pay restitution. Also banned form the industry was Carol Godlock for embezzling $41,540 from VA Hospital Philadelphia FCU.

Also banned were Douglas Packer and Veronica Damiano, former president and loan officer, respectively, of Southeastern FCU, Douglas, Ariz.

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