NCUA Extends Temp Corp Guarantee
ALEXANDRIA, Va.-NCUA last week extended the expiration date of its Temporary Corporate CU Share Guarantee Program from Sept. 30, 2012, to Dec. 31, 2012. With this extension, new investments with maturities of two years or less in participating corporates made before Dec. 31, 2010, will be fully covered by the guarantee program, NCUA noted.
Paper Examines Durbin Amendment
CLEARWATER, Fla.-CSCU and Mercator Advisory Group have teamed to produce a research paper that examines the potential impact of the Durbin Amendment on the CU debit issuing market. The paper explores several scenarios analyzing the potential changes to traditional debit card revenue modelsand offers growth strategies.
For info: www.cscu.net/interchange.
NYC-Related Prizes Offered
PURCHASE, N.Y.-MasterCard is staging a special promotion in which cardholoders can win New York-related prizes. The "Reserved by MasterCard" promo includes tickts to Yankees and Jets games (including meet-and-greets with players), cooking demos from celebrity chefs and reservations at hard-to-get-into restaurants, and VIP shopping experiences.
For info: facebook.com/mastercard or mastercardmarketplace.com/ny.
U.S. Flag From Iraq Presented
MADISON, Wis.-Lt. Col. Thomas, a CUNA Mutual employee and Army Reservist currently serving in Iraq as a senior combat advisor to the Iraqi Army, sent a U.S. flag that had flown at Camp Adder in Iraq on June 12, during Operation Iraqi Freedom. In recognition of service by Heyden and others, the flag was raised at the company's Madison headquarters. The flag, above, was presented to Bob Trunzo, EVP/COO.
Credit Score Tool To Debut
MADISON, Wis.-UW CU will begin offering members free access to their credit scores via its online banking solution effective Sept. 13. The service, called "My Credit Score," is free and will be based on TransUnion's scoring system and be updated quarterly. The $1-billion CU said members will be able track their credit over time, compare their scores against other consumers, and see how lenders may view their creditworthiness.
Too Good To Be True Paper
MADISON, Wis.-Means by which front-line staff can play a role in reducing fraud is discussed ina new white paper from the CUNA Operations, Sales & Service (OpSS) Council called "Too Good to Be True: Detection and Prevention Of Common Scams."
For info: www.cunacouncils.org.
Fla. CU Wins Statewide Award
TALLAHASSEE, Fla.-Florida Commerce CU's weLiveFIT! (WLF) Challenge campaign, created to help Tallahassee families shape up their personal finances, was recognized by the Florida PR Association as the top PR program in the State of Florida for 2010.
CUs In Mergers, Name Changes
MIDDLETOWN, Ohio-MidFirst Credit Union has changed its name to MidUSA Credit Union. It cited a desire to expand its markets in making the move. It was chartered in 1934 as Armco Employees CU. In St. Louis, Gateway Metro FCU has absorbed via merger Holy Infant CU, Ballwiin, Mo., while in Romeoville, Ill., Argonne CU is absorbing via merger Prairie Trails CU, creating a $260-million CU. In St. Paul, Minn., $37-million Como Northtown Community CU is being absorbed via merger by the $1.3-billion Affinity Plus FCU.
Paper On Remote Deposit Capture
MADISON, Wis.-The CUNA Technology Council has released a white paper on Remote Deposit Capture, which it notes promises to extend greater convenience to members while at the same time potentially reducing operational costs and investment in building infrastructure.
For info on the "Remote Deposit Capture: Thinking Out of the Branch To Better Serve Members" paper, visit www.cunacouncils.org.
People's CU To Be Featured
MIDDLETOWN, R.I.-People's Credit Union here will be featured in a video by author and management consultant Stephen M.R. Covey, demonstrating how the CU has implemented the "Speed of Trust" program, which is based on Covey's book of the same name. The program covers the ways trust acts in people's lives, the cores that make trust actionable, and the behaviors common in people with high-trust relationships.
Kansas CU Reps Testify At Hearing
LAWRENCE, Kan.-John Smith, administrator of the Kansas Department of CUs, and Chris Wolgamott, community development liaison at Meritrust CU in Wichita, Kan., testified at the request of Kansas CU Association before the U.S. House of Representatives Committee on Financial Services Subcommittee on Oversight and Investigations during hearings here. The discussion centered on ways financial literacy efforts can play a role in a more stable financial system.