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BAKERSFIELD, Calif. – Kern Schools FCU on Monday said it joined Alloya Corporate FCU and will be transitioning its item processing and check collection services to Alloya from Western Bridge.
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BOCA RATON, Fla. – Bethpage FCU continues to average more than 550 new checking accounts per week, volume it credits to momentum built in the weeks and months leading up to 2011’s Bank Transfer Day.
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ONTARIO, Calif. – The California/Nevada CU Leagues are expected this morning to name Dwight Johnston, the well-known former chief economist at WesCorp FCU, as their chief economist.
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HARTFORD, Conn. – Credit unions across Connecticut on Monday unveiled a new multi-media campaign featuring ads in the state’s biggest print and on-air media.
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INDIANAPOLIS – A local developer has been charged with eight counts of fraud in obtaining millions of dollars in loans, including almost $5 million from Centra CU, using phony documents and tax information.
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HOUSTON – Cardtronics yesterday reported a 50% rise in first quarter earnings to $9.8 million, based on a 38% increase in revenues.
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NEW YORK --The Taxicab Service Association, comprised of credit union lenders that finance yellow taxi medallions, filed suit Friday in state court seeking to overturn the “HAIL Act” — the city law that embodies Mayor Bloomberg’s 2011 plan to create a new class of up to 18,000 taxis authorized to pick up street hails in Brooklyn, Queens, the Bronx, Staten Island and much of Manhattan, in direct competition with the City’s iconic yellow cabs, and that authorizes the mayor to approve 2,000 new yellow cab medallions.
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BASKING RIDGE, N.J. – Affinity FCU, New Jersey’s biggest credit union, said this morning it signed with Open Solutions Inc. to convert its core processing to OSI’s DNA.
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HONOLULU – Hawaiia State FCU announced this morning the hiring of Andrew Rosen, an experienced banker on the mainland, as president and CEO of the $1.3 billion credit union.
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Courtesy pay, or overdraft protections, continues to be a good source for non-interest income for credit unions, according to Jim Craig, director of Geezeo Interactive.
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Harland Financial Solutions believes credit unions have room to add fees and not upset their members in the process.
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Credit unions may be focused on getting the MBL cap raised, but are they paying enough attention to the fee income opportunities readily available-and that members are willing to pay-for small business services?
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More retailers-such as Target, Walmart and even Starbucks-are using incentives to encourage consumers to use their store cards.
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With pressure on overdraft and interchange revenue streams only likely to increase, credit unions will have to think creatively to maintain non-interest income.
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Credit unions are making a mistake in not leveraging their collective, cooperative nature in their marketing messages, according to one person with a billion-dollar plus CU that believes its advertising benefits all CUs.
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KeyPoint CU, Santa Clara, Calif., welcomed Brad Canfield as its new CEO.
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With the economy seemingly on the upswing and consumer attitudes improving, deepening relationships with members is key to building non-interest income in 2012.
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AAC Community Credit Union and Lenco Credit Union have settled ATM suits brought by a local retiree who has filed almost 40 suits against credit unions and banks under the Electronic Funds Transfer Act.
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A federal court has rejected a bid by a tiny church here to recover $1.5 million it lost in 2010's failure of St. Paul Croatian Federal Credit Union, ruling the decision is up to the National Credit Union Association, which itself is expecting to be left with $170 million in losses in the case.
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Credit unions may have an advantage in the financial services marketplace in that they have a noble purpose, but Jason Jennings said is insufficient differentiation to succeed.
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