WEST PALM BEACH, Fla. - (07/11/06)The Credit Union Journal isannouncing its Call for Entries for its Best Practices awards. TheJournal published its inaugural Best Practices issue in November2005 and featured nearly two-dozen peer-leading ideas as selectedby the editors. Nominations may be submitted by credit unionsthemselves, a CUSO or even another CU. Nominations may also besubmitted by suppliers to the credit union community that haveclients they believe exemplify the best practice in implementing aparticular product or service. The criteria are as follows: 1) Bestpractice must have been deployed since May 1, 2005. 2) Credit union(or vendor) selects (or even creates) a category and nominatesitself/client CU. 3) The entry should include: 500 words or less onwhy it believes it has created a best practice within itsoperation. The nomination essay should include as many tangiblemeasures as practical. 4) A credit union may enter more than onecategory. 5) Nominations should be e-mailed to Managing Editor LisaFreeman at lfreeman@cujournal.com. The deadline for entries is Aug.1. Winners will be profiled in the Oct. 30 issue.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
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Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
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Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
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CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
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Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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