Corporate governance

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.

One thing hasn't changed in 2012: it's still all about making loans. But what has changed, noted Kyle Kehoe, VP of sales for CRIF Lending Solutions, is technology that many CUs are not fully leveraging.

The best investments for credit unions right now are in data analytics, small business solutions, risk management and professional services, according to Jerry Nissen, SVP and general manager-real time solutions for FIS.

Michael Kelly is clear about the fact credit unions must concentrate on three things to drive the bottom line near term: extend their reach, use strong analytics tools, and partner with the right suppliers to improve credit union performance.

Retaining the servicing remains critical according to Shannon VanSickler, VP-credit union channel for United Guaranty Corporation.

PORTSMOUTH, N.H. – Northeast CU is launching the SaveUp pilot program, a free rewards program for saving money and reducing debt, which rewards people with prizes for engaging in positive financial activities.

VENTURA, Calif. – Ventura County CU plans to help members refinance loans and seek lower-cost solutions in a goal to save members $5 million in 2012.

A list of the "Texas 12".

RALEIGH, N.C. – State Employees’ CU, which added $3.2 million in savings during last year’s North Carolina Financial Literacy for Youth Month, is hoping to top that amount this year with help from a new super hero during National Credit Union Youth Week, April 23-27.

BRAINTREE, Mass. – Tremont CU, which serves residents of greater Boston and more than 200 select groups, was approved by the Massachusetts Department of Banking to add more than 100,000 members of the Massachusetts Fisherman’s Partnership Inc., which consists of 20 subsidiary member organizations.

BOSTON – Mass Bay CU, a 76-year-old credit union originally chartered to serve the Boston Elevated Train Co., then the Massachusetts Bay Transit Authority, was approved by state regulators to serve a board swath covering 1.5 million people surrounding Boston, in Suffolk and Norfolk counties.

ABERDEEN, Md. – Aberdeen Proving Ground FCU paid two members $100 Visa gift cards as part of its “Refer a Friend” contest.

CHATSWORTH, Calif. – Premier America CU has signed with SaveDaily to offer its members the ability to invest in the company’s proprietary mutual fund program.

BEL AIR, Md. – Freedom FCU has signed with the Harford County Education Association to provide financial services and benefits for the local teachers union’s 2,070 members.

TOLLAND, Conn. — More than nine-in-10 members who visit their credit union's website immediately go to online banking or bill pay.

HARRISBURG, Penn. – Pennsylvania State Employees CU, which has been providing its checking account members with free FICO credit scores the past two years, will be offering the popular service over its mobile banking channels within the next two weeks.

CHANTILLY, Va. – Justice FCU, the credit union serving the U.S. Department of Justice, announced plans to open branches in Chicago and Miami in an effort to live up to its motto, “Serving Justice Across the Nation.”

Wendy Lokken, CEO of Lasertec, believes it is more important than ever for credit unions to 'go green' by utilizing all-electronic marketing.