Corporate credit unions

Credit unions are looking at the plateau in interest rates and wondering-as are their members-is it time to cash out?

HARRISBURG, Pa. – Mid-Atlantic Corporate FCU said it has installed Green Armor Solutions’ Identity Cues multi-factor authentication system for online log-on. The first time a user logs on with their user name and password, the server will send an email with an ID to plug into the web page, which will validate the user. Green Armor will associate users with the computer they are on by doing an analysis of the online session, examining particulars to each user’s machine. The multi-factor authentication will be used for wire transfer, automatic clearinghouse and other services provided by the $2 billion corporate.

WALLINGFORD, Ct. – Constitution Corporate FCU said yesterday it will lease electronic image equipment to credit unions that don’t want to buy their own. The $2 billion corporate said its ImageXchange, a component of its Check-21 product suite, scans, endorses, encodes and performs automatic balancing of all items, enhancing the entire process. Constitution is one of the few corporates in the country with the ability to send, receive and return images of its members’ checks directly through the Federal Reserve, having been certified under the FedForward, FedReturn and FedReceipt programs.

The pressure on margins is refocusing attention on an oft-overlooked aspect of credit union operations: cash management.

Cutler Dawson has officially taken the helm at the world's largest natural-person credit union, Navy Federal.

Families Start Moving In Along Border

The secondary mortgage markets, the underpinnings of the nation's housing finance, were roiled again last week when the board of Fannie Mae fired the company's Chief Executive Franklin Raines and Chief Financial Officer Timothy Howard over the growing accounting scandal at the company.

Considered extremely rare, The Credit Union Journal has nonetheless obtained a copy of a letter from Santa. We're not saying who leaked the letter to us, other than it was someone who is stature-challenged and is employed in a workshop, but that's all we're saying. Apparently, Santa was prompted to pick up a pen (word is he still refuses to use a word processor) and authored this letter to members of a certain credit union.

The Utah Bankers Association has made an $11,000 grant to help, of all things, a tiny credit union. The UBA donated the funds to the $861,000 UCB CU, which serves the blind and visually impaired in Utah. The credit union has 250 members and says it will use the funds to pay for a new computer system, printer and office supplies. Credit unions in the state have also come to the assistance of UCB CU in the past, including the Utah league and America First CU, which donated all of UCB CU's fireproof cabinets.

HRCU Selects MortgageClick

There is a phrase that rattles around in my head on occasion that I heard as a child during the Vietnam War: "We are working to win their hearts and minds." I had heard that statement, or statements to the effect, many times during that conflict and over the years that followed.