CUNA To Host Corporate CU Issue Summit In Chicago
CHICAGO-CUNA will host a one-day Corporate CU Issue Summit here Nov. 13 at the Intercontinental Hotel at O'Hare Airport. The trade group said the meeting will include approximately 80 representatives of natural-person CUs, corporates and vendors, with a goal of "determining the shape of tomorrow's corporate credit unions and services." The meeting is closed to non-invitees and the media.
At presstime, CUNA said it was still accepting RSVPs and declined to provide a list of those invited, other than to say approximately half are CU CEOs. Members of CUNA's Corporate Next Steps Task Force will be among those on hand. "The emphasis is on natural -person credit unions and their representatives who will lead the effort in determining the shape of tomorrow's corporate credit unions and services," CUNA said in a statement to Credit Union Journal. The meeting will be run by an outside facilitator, with an objective of moving toward a consensus on a services delivery system that credit unions will support, CUNA said.
FDIC Chair Says Regulators Share Some Of The Blame
WASHINGTON - FDIC Chairman Sheila Bair last week became the first regulator to publicly shoulder some of the blame for foreclosure problems at several servicers, saying the agencies should have seen it coming. In a speech to a regulatory symposium on the future of housing and finance, Bair said regulators were not focused on the issue despite hints that some servicers were overloaded with foreclosures.
"In retrospect, there were warning signs that servicing standards were eroding," she said. "Those signs should have caused market participants and regulators alike to question current practices."
uGenius Wins Patent For System
SANDY, Utah - uGenius Technology has won a U.S. Patent for the video 24/7 Personal Teller it is piloting at credit unions and banks. The technology, which the company said combines the advantages of an ATM, drive-up window, Internet banking and teleconferencing, has been installed at Community Choice CU in Farmington, Mich., Hudson Valley FCU in Poughkeepsie, N.Y., and American Heritage FCU in Philadelphia, among others.
The technology offers a more personal touch than an ATM, the company said, because members/customers can talk live to a teller who shows up on the machine's video monitor. The PTMs offer access to tellers during hours when branches are closed or when the on-site tellers are busy with other members/customers.
The PTM tellers are located at call centers either thousands of miles away or in the same city. The technology enables tellers at the call centers to see a customer's identification and the checks and cash they deposit as well as verify signatures. uGenius says the system can handle 96% of all teller transactions.
NCUA Offers Widget For Sites
ALEXANDRIA, Va.-As part of its public awareness campaign to highlight federal deposit insurance, NCUA is urging CUs to install the "Keep Your Money NCUA-safe" campaign "widget" on CU and related websites. The widget, a clickable picture with rotating messages about NCUA insurance that can be placed on websites, blogs, or social media pages, is available at www.ncua.gov/NCUAsafe.aspx. Clicking on the icon sends viewers to the "Keep your money NCUA-safe" campaign landing page, which contains :30 and :60 second TV commercials and an interview about NCUA insurance, featuring personal finance expert Suze Orman. An e-calculator will also be accessible for consumers who want to make certain their funds are fully insured.
UICCU To Build $20M HQ
NORTH LIBERTY, Iowa - The North Liberty City Council voted to approve the purchase and transfer of land for a new University of Iowa Community CU office building, a 100,000-square-foot structure projected to cost $20 million to build. Plans call for the city to purchase 64 acres of undeveloped land on the west side of the city, near I-380 from North Liberty LLC for $11 million, then transfer 24 acres to the credit union for $1.
Under the deal, the city will borrow $11.3 million from the credit union to pay for the land. It plans to pay back the purchase price through revenue generated by increased property tax on the facility. According to data from the Iowa City Area Development Group, the project will generate 400 direct jobs, 230 indirect jobs and 324 induced jobs.