Study Refutes Image of CUs

Over the course of the last year, twelve California credit unions have worked together with a common goal of reducing certain technology costs.

In an effort to get one step ahead of online threats, PSCU will host its first-ever "Hackathon" Oct. 19 and 20 with the first prize winners receiving a Royal Caribbean cruise.

Symitar Adds 28 New Clients

It was only seven years ago that Hurricane Katrina forever altered the Gulf Coast and the Crescent City. Now, with Hurricane Isaac having just passed over the region, credit unions are benefiting from lessons learned in testing disaster recovery systems.

Ninety percent of Stanford Federal Credit Union's interactions with its members take place by computers and mobile devices, allowing 20% of its employees to work from outside the office.

It was the combination of effective technology and collective perseverance that scored South Carolina Federal Credit Union's Stephanie Ownby Verint's Innovator of the Year award for branch excellence.

WASHINGTON-The proportion of U.S. households with limited access to a bank inched up between 2009 and 2011, with most unbanked and underbanked still turning to alternative products to manage their finances, the Federal Deposit Insurance Corp. said last week.

CEO On Radio Football Show

Costs Down, Productivity Up

A couple of columns back I shared (actually, tried to start) a rumor that Discovery Channel was launching a new series called LoanShark Week. Not to be outdone, the state of Pennsylvania's Treasurer, Rob McCord, tried to draw attention to his department's unclaimed property database (about one-in-10 Pennsylvanians have unclaimed property, with $1.9-billion waiting to be claimed) by highlighting every Shark Week-related name his department could identify that had unclaimed property.

If some regulation of financial products and services is a good thing, then shouldn't a lot more of it be even better? As everyone trying to run a credit union these days knows, the answer to that question is "of course not."

Children's Miracle Network Hospitals has forged a wonderful partnership with the credit union community over the last 17 years and in that time credit unions have established a remarkable legacy at children's hospitals throughout the United States.

I would argue that the testimony by credit unions to Congress that the regulatory burden is the number-one concern is either a delusion or dishonest.

GROTON, Conn. -- A suspect was quickly arrested after robbing a Naval FCU branch at the Naval Submarine Base in New London Friday afternoon just after 1 pm.

VIRGINIA BEACH, Va. – Chartway FCU’s We Promise Foundation, which provides funding for children battling life-threatening illnesses, has raised $750,000 so far in 2012.

KALISPELL, Mont. — A mortgage broker pled innocent Friday to charges of bank and wire fraud in connection with a $450,000 mortgage she obtained from Whitefish CU.

MISSION VIEJO, Calif. – Navy FCU will open a new branch here this morning, its 32nd in California, which will serve the 8,700 Department of Defense, military, civilian members, and their families in Orange County.

WESTFORD, Mass. – Jeanne D’Arc CU has vacated its branch in Nashoba Valley Technical High School after ten years and is being replaced there by Lowell Five Cent Savings Bank.

LARGO, Fla. – A federal court last week ordered Pinellas FCU to mediation over the alleged embezzlement of its former CEO, Linda Reynolds, and more than $50,000 of Reynolds’ accounts the credit union froze as security against the alleged theft.