Growth strategies

Credit unions should consider rethinking their deposit processing model, according to Curtis Hallowell, VP-product management for Cummins Allison Corp.

There are four opportunities for credit unions to improve non-interest income, according to Jerry Nissen: adding value to free services, offering small business services, increasing fees for existing services and growing membership.

Many credit union members need financing for medium-ticket expenditures, and Kyle Kehoe believes CUs can help these consumers, book a loan and generate fee income, all at the same time.

ST. PAUL, Minn. – Minnesota Gov. Mark Dayton signed legislation that will allow municipalities and other public entities to deposit funds in federally insured credit unions.

EUGENE, Ore. – SELCO Community CU entered the Portland market with the merger of Forest Park FCU, a $40-million failed credit union with two branches in Portland.

STURGIS, S.D. – Northern Hills FCU said it got approval from NCUA to expand its community charter to include 100,000 residents of Pennington County.

SPARTANBURG, S.C. – Spartanburg Regional FCU is paying it forward with employees directed to find someone who needs $50 and give it to them.

GREENWOOD VILLAGE, Colo. – Bellco CU is teaming up with LiveWell Colorado on a two-year campaign to encourage Coloradans to maintain a healthy overall lifestyle – both physically and financially.

University of San Francisco Federal Credit Union here says it has seen strong growth after launching a branding campaign with the help of its student advisory committee.

New data indicates that the surge credit unions reported in new members in the final quarter of 2011 has not only not abated, but appears to be increasing.

McGraw Hill Federal Credit Union has grown loans steadily throughout the recession-17% last year-by focusing on refis and aggressively mining member data for opportunities.

One Nevada Credit Union's latest auto loan promotion has resulted in 500 loan refinances in fifty days, all of which were from former non-members who had their loans with other lenders.

The consumer migration to credit unions is part of something larger than just numbers, according to Hope Schau, an expert in consumer behavior patterns and associate professor of marketing at the University of Arizona.

One Nevada Credit Union offered this Top 10 list of auto loans it has refinanced for people.

LOS ANGELES – In what is expected to be the start of a new spate of consumer lawsuits against credit unions, a member of Xceed Financial FCU is claiming the credit union engaged in deceptive and unfair practices by re-sequencing his debit transactions in order to create overdrafts in his accounts.

DENVER – State regulators on Friday approved applications from $2 billion Bellco CU and $225 million Denver Community CU to serve almost 450,000 residents in Adams County, making at least five of the state’s biggest credit unions authorized to serve the fast-growing county, which includes the Denver bedroom communities of Arvada and Aurora and part of the city of Denver.

POTTSTOWN, Penn. – Tri County Area FCU has signed with INVEST Financial Corp. to provide its members brokerage and investment services.

After weathering a rough patch when the recession hit Michigan, Community Financial Members Federal Credit Union has rebounded and last year saw loan growth of better than 5% and checking account growth of nearly 8%.

In the latest effort by the CU community to target younger people, the Texas league has launched a new program it is calling the "Texas 12."

Credit unions looking to grow their bottom lines should begin investing in ways to market to their current and potential members using sources and channels outside of traditional direct mail, according to Pete Hilger, president of Allied Solutions.