On 2nd Try, Members OK Merger

Many financial institutions, including credit unions, wonder where the return on investment is in social media. Frank Eliason, senior vice president of social media at Citigroup, says there is none.

Many consumers who opt-in to receiving e-statements continue to also get the paper versions via the mail, a new study by NACHA-The Electronic Payments Association-and PayItGreen finds.

HOUSE PASSES CU-BACKED

Louis Hernandez, Jr., Chairman and CEO of Open Solutions Inc., shares obstacles and promises for economic recovery.

Denise Cooper, CEO of Upper Cumberland Federal Credit Union sends a thank you to CU Journal.

You never know what you're going to get when it's a futurist on the agenda; in other words, it's hard to predict the futurist.

David Savoie, president and CEO of Louisiana Corporate, reflects on the good in U.S. Central Bridge Federal Credit Union.

ST. HELEN’S, Ore. – St. Helens Community FCU hired a new CEO who immediately urged the board to terminate a merger agreement with nearby Wauna FCU, which would have created a $300 million credit union.

WASHINGTON – Two lawmakers introduced legislation last week that would allow about 130 privately insured credit unions to join the Federal Home Loan Bank system, which is currently restricted to federally insured credit unions and banks and to insurance companies.

LAUREL, Md. – Tower FCU’s 30th annual Classic Golf Tournament raised $28,000 to benefit the Johns Hopkins Children's Center in Baltimore.

INDIANAOLIS – Indiana Members CU has partnered with Indy BackPack Attack again this year, and is hosting a live distribution of 2,000 backpacks filled with school supplies on July 22.

MIAMI – Two south Florida credit unions, City County CU and Power Financial CU, and several banks, are teaming with United Ways of Miami-Dade, Broward and Palm Beach to provide a lifeline to the underserved.

ABBEVILLE, S.C. – Greater Abbeville FCU is offering members in financial straits a “Fresh Start Account” aimed at consumers who have been turned away at other lenders.

FORT WORTH, Texas – American Airlines FCU has signed with PolicyWorks to conduct a series of regulatory compliance reviews to ensure the credit union’s products, policies and procedures comply with all current federal rules and regulations.

SHELTON, Conn. – Mutual Security CU, with $250 million in assets, has signed with Vertifi Software to offer its members DeposZip mobile remote deposit capture service.

NEWBURGH, N.Y. – A Brooklyn man filed a class action suit last week against Mid-Hudson Valley FCU over the ATM disclosure provisions of the Electronic Funds Transfer Act, the latest serial plaintiff to challenge credit unions’ compliance with the ATM law.

LOMPOC, Calif. – Coast Hills FCU is notifying members of an apparent debit card fraud at a local restaurant, Orcutt Burger.

WASHINGTON – Costs for the historic settlement of antitrust charges against Visa, MasterCard and several big banks will ultimately be passed on to owners and beneficiaries of the two card networks, with hundreds of millions of dollars of the $7.2 billion settlement being paid by credit unions.

NEW YORK – Visa, Mastercard and banks issuing their credit cards have agreed to pay up to $7.25 billion and allow merchants to encourage customers to use cheaper forms of payment, according to settlement papers filed on Friday in a lawsuit in Brooklyn federal court.