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Market Intelligence:
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  • Fraud
    Branch Manager Jailed Five Years For $275,000 Embezzlement

    DENVER – A former assistant branch manager at Credit Union of the Rockies was sentenced yesterday to five years in a community corrections facility and ordered to pay $275,795 restitution for stealing from the credit union’s Black Hawk branch where she worked to help finance her gambling at local casinos.

    April 30
  • CUJ content
    Visions FCU Hires Local CU Exec As CEO

    ENDICOTT, N.Y. – Visions FCU, the one-time IBM employees credit union, announced this morning that Tyrone Muse, chief financial officer at nearby Hudson Valley FCU, another former IBM credit union, was hired as CEO of the $3.2 billion credit union.

    April 30
  • Branch network
    CO-OP Financial Rebrands Shared Branching

    RANCHO CUCAMONGA, Calif. – CO-OP Financial Services announced this morning it is rebranding the CU Service Centers shared branch network and its “swirl” logo and signage it acquired in a 2012 merger with Financial Service Centers Cooperative with the CO-OP Shared Branch signage over the next two years.

    April 30
  • Cards
    Morgan Banker Hired By First Data As Losses Continue From Huge LBO

    ATLANTA – First Data Corp. said it hired Frank Bisignano, co-chief operating officer at JP Morgan Chase, as its CEO, as losses continued to mount from its huge 2007 leveraged buyout by Kohlberg Kravis Roberts & Co.

    April 30
  • CUJ content
    FICO Reports Lower Net Income Amid Move To Silicon Valley

    SAN JOSE, Calif. – FICO, maker of the ubiquitous credit score, reported a 12% rise in second quarter revenue to $179.3 million but an 8% drop in net income to $18.5 million, after expenses related to the company’s move from Minneapolis to Silicon Valley.

    April 29
  • CUJ content
    Deluxe Braves Continued Decline In Checks Business

    ST. PAUL, Minn. – Deluxe Corp reported a 4% rise in first quarter earnings to $45.9 million, even as its core check printing business continues to diminish.

    April 29
  • Technology
    Northwest Hills CU Adds eFraud Prevention

    TORRINGTON, Conn. – Northwest Hills CU has signed to implement the eFraud Prevention cloud based/hosted service for member fraud education.

    April 29
  • CUJ content
    Amplify FCU Implements Rise Performance Group’s Employee Assessment Service

    AUSTIN, Texas – Amplify FCU has installed Rise Performance Group’s CheckPoint 360 leadership training and development system for job applicants.

    April 29
  • CUJ content
    Oil Country FCU’s CEO Retires After 36 Years

    TITUSVILLE, Penn. – Marilyn Beer is retiring as CEO of Oil Country FCU today, after 36 years with the $17-million credit union.

    April 29
  • Technology
    Steps To Take To Prepare For DDoS Attack

    BALTIMORE – Technology vendors across the country are taking steps to both caution client credit unions and reassure them regarding a rumored DDoS attack planned for May 7.

    April 29
  • Branch network
    Hudson River Community CU Debuts New Ops Center

    CORINTH, N.Y. – Hudson River Community CU has moved into a new, $3-million operations center here.

    April 29
  • Lending
    Andrews FCU Signs For Private Student Loans Through LendKey

    SUITLAND, Md. – Andrews FCU has selected LendKey, known until recently as Fynanz, to provide it with a platform to offer private student loans and private student loan consolidations through its cuStudentLoans program.

    April 29
  • CUJ content
    Scient FCU Converts To Harland Financial’s PhoenixEFE Core Processor

    GROTON, Conn. – Scient FCU has licensed Harland Financial Solutions’ PhoenixEFE core processing solution.

    April 29
  • CUJ content
    New York’s SEFCU Gives $250,000 To Cancer Center

    ALBANY, N.Y. – SEFCU, which has branches in the Syracuse and Binghamton areas, announced a donation of $250,000 for the upcoming Upstate Cancer Center in Syracuse to help fund advanced-patient treatments.

    April 29
  • Payments
    CUs Told They Have One Big Card Advantage: Being Local

    CHICAGO – American consumers have come to expect some sort of reward with the plastic cards they used, as evidenced by the barrage of non-stop advertising by the national card programs.

    April 29
  • Corporate credit unions
    Judge Stays NCUA Wall Street Suits

    WICHITA, Kan. – A federal judge yesterday agreed to delay further proceedings in eight different NCUA suits against Wall Street banks over the failure of the corporate credit unions until the U.S. Court of Appeals for the Tenth Circuit has decided whether NCUA filed the civil claims too late to satisfy the statute of limitations.

    April 29
  • Compliance
    State Regulator Clears CUs For ‘Bank-Owned Life Insurance’

    OLYMPIA, Wash. – The state Division of CUs has approved requests from state chartered credit unions to buy key-person insurance, also known as bank-owned life insurance, a popular retirement benefit held by banks known as BOLI, absent specific regulatory approval.

    April 29
  • CUJ content
    CU Video Can Now Be Seen In Times Square

    NEW YORK-A video billboard touting the credit union difference was unveiled for millions of viewers in Times Square last week and will run through CUNA's annual America's Credit Union Conference, being held in New York City June 30 through July 3.

    April 29
  • CUJ content
    Worth Noting

    NCUA Is Praised For Leadership

    April 29
  • CUJ content
    Seeking To Stop Phishers, One CU Files Civil Suit

    In an unusual move, AllSouth FCU, whose members have been solicited for their account numbers over the past few weeks, has filed a civil suit against the unknown perpetrators in an attempt to stem the expanding phishing attacks.

    By Ed Roberts
    April 29
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23RD ANNUAL THE MOST POWERFUL WOMEN IN BANKING

Meet The Most Powerful Women in Banking 2025, our annual ranking of the executives at the pinnacle of the industry.

ABM1025_Cover.jpg

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