Stanford FCU wins the hearts of its "best" members with a trove of custom-built small business products and services-and a vibrant consumer mobile channel that business members seem to love, according to SVP and CIO Jim Phillips.

BILL AIMED AT STOPPING ATM

Wegner Nominations Now Open

Should there be an NCUSIF and a separate "NCUSIF Junior?" That question provokes some thought as credit unions get closer than ever to at least a vote in Congress on expanded member business lending.

Nine-million dollars is a lot of money. Few of us volunteer board members or credit union staff members ever will receive that much money either in our paychecks or our retirement.

It's easy to get lost in the hype and extremes of rising student debt when, in reality, 72% of borrowers owe less than $25,000 and fewer than 5% owe more than $75,000.

The economic downturn combined with continued regulatory overhead and uncertainty, have rendered many lending products potentially obsolete for large portions of a portfolio. This in turn reduces the amount of capital a credit union is willing to invest in a product line for loan growth.

RICHARDSON, Texas – NCUA announced this morning that Texans CU, the one-time $2 billion credit union it has operated under conservatorship the past year, reported a $5.9 million net for the first quarter of the year, even as the biggest NCUA conservatorship ever continues with negative net equity of $40 million.

ALBANY, N.Y. – SEFCU, the former State Employees FCU, raised $40,000 for Big Brothers Big Sisters through its annual Bowl for Kids’ Sake events in the Capital Region and Syracuse.

EUREKA, Calif. – Coast Central CU donated $50,000 to four community groups.

RALEIGH, N.C. – The North Carolina Museum of Natural Sciences opened its new Natural Research Center Friday enabled by a $4 million grant from State Employees’ CU’s SECU Foundation.

MARION, Ind. -- A former Marion City Council member faces prison time after he pleaded guilty to structuring financial transactions by withdrawing $180,500 in cash in 19 transactions of $9,500 from United FCU.

KALAMAZOO, Mich. – IN the biggest community grant of the year so far, NCUA said Friday it approved a request by Southwest Michigan FCU to convert to a community charter serving one million residents in nine surrounding Michigan counties.

WASHINGTON – The American Bankers Association, which has been working for two years to make a public issue of executive pay at credit unions as part of its campaign for repeal of the tax exemption, has found an ally in its attempts, the credit union trade press--without the ABA’s fingerprints on it.

WASHINGTON – CUNA increased its campaign contributions to strategically important congressional figures last month as a potential vote on the member business loan bill approached.

WASHINGTON – President Obama called on Congress last week to act soon to prevent a scheduled end to the 3.2% rates on Stafford Loans, which are slated to double to 6.8% July 1.

ALEXANDRIA, Va. – NCUA said Friday it approved another 21 credit union mergers, more than half of which will erase ailing credit unions.

SAN DIEGO – A federal court agreed last week to dismiss a discrimination suit brought against Sun Community FCU by an African-American former vice president of lending, ruling that behavior of a superior did not qualify as racial discrimination under Title VII of the Civil Rights Act.

The consumer migration to credit unions is part of something larger than just numbers, according to Hope Schau, an expert in consumer behavior patterns and associate professor of marketing at the University of Arizona.

Expect to see enhanced small business tools when Stanford FCU launches a new website in July, said Jim Phillips, SVP and CIO at the $1.4-billion organization.