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A focus on cross-selling has helped Community Credit Union here move from negative loan growth in 2010 (-1.5%) to 4.5% in 2011.
February 27 -
Federal credit unions and state regulators are urging NCUA to reconsider its proposed rule on loan participations in comment letters filed with the federal agency.
February 27 -
After a successful debut in 2011, $511-million FAA Credit Union is bringing back its $40 Date Night Challenge for a second date.
February 27 -
Employees at Sterling United FCU were met with an unpleasant surprise here when they went to inspect a truck that had been repossessed by the credit union — the dead body of the owner who had borrowed from the credit union to purchase the vehicle.
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After 18 years of service, CommonWealth One FCU President/CEO John Blair said he will retire in July. He talks with Credit Union Journal about his career, lessons learned, and shares his thoughts on the future of credit unions.
February 27 -
Seven-million Hispanic U.S. households are underbanked or underserved. That's a sizeable market waiting to be tapped, according to one expert, who says one key to penetrating that market is through prepaid reloadable cards.
February 27 -
An increasing number of credit unions are indicating they are finding good lending opportunities with borrowers whose credit was damaged during the recession.
February 27 -
Credit unions in the Palmetto State have launched a statewide campaign to spread good deeds and increase consumer awareness of CUs.
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Accolade Passes $1B In Funds TALLAHASSEE, Fla.-Accolade Investment Advisory said it continued to experience "appreciable growth" during 2011, ending the year with nearly $1.2 billion in assets under management-an increase from $900 million under management at the end of 2010.For info: www.accoladeadvisory.comInvestment Strategies Is RecertifiedMADISON, Wis.-CUNA Mutual Group said Mesirow Financial's Investment Strategies department has recertified that the company's Retirement Plan Services' investment selection and monitoring processes are diligent and consistent with industry standards and the Employee Income Retirement Security Act's (ERISA) fiduciary prudence standard.For info: www.cunamutual.comSHAZAM Network Launches BlogDES MOINES, Iowa-EFT products and services provider SHAZAM unveiled The SHAZAM Network Blog, designed to share payments industry insights to help financial institution executives remain as savvy and up-to-date as possible.For info: www.theshazamnetworkblog.typepad.comInnovative Card Services Beats GoalELKHART, Ind.-Innovative Card Services, a CUSO that provides prepaid cards to more than 50 credit unions across the country, said in December 2011 it exceeded its goal of $1 million in card loads between its four VISA Prepaid Card Programs during one calendar month.For info: www.innovativecardservices.comALM First To Host InstituteDALLAS-Credit union financial advisory firm ALM First Financial Advisors, LLC, will offer its Financial Institute Feb. 27-29 at the Four Seasons Resort and Club here. The company said the Financial Institute will provide financial institutions' senior management and staff with workable information in the areas of investment and balance sheet strategies, including asset/liability management.For info: www.almfirst.com/financialinstituteRegistration Open For Loyalty Live LAS VEGAS-Registration for the 2012 Loyalty Live in Las Vegas Net Promoter Score Conference is now open. The conference is scheduled for April 30-May 2 at the Cosmopolitan Hotel.For info: www.loyaltylive.squarespace.comcbanc Network Grows 620% In 2011AUSTIN, Texas-cbanc Network, which bills itself as the largest online repository of FI-authored, board-approved, exam-tested content, said it grew 620% in 2011, growing from 500 to nearly 3,600 financial institutions (approx. 3,638 FIs and 7,710 users today).For info: www.cbancnetwork.comTMG Reports 25% Growth In Holiday Gift Card SalesDES MOINES, Iowa-Financial institution clients of The Members Group collectively sold 25% more ATIRAgift cards during the 2011 holiday season as compared to the same period last year. TMG said it added 32 prepaid clients in 2011, 29 of which market the company's open-loop Visa gift cards.For info: www.themembersgroup.comMnIPC Ownership Consolidated, RestructuredST. PAUL, Minn.-MnIPC, a check processor for credit unions, said it began 2012 with consolidated ownership following a restructuring in December. The organization redeemed its stock from Minnesota credit unions and transferred complete ownership to the Network Service Corporation, a wholly-owned subsidiary of the Minnesota Credit Union Network (MnCUN).For info: www.mnipc.comContinuity Control Reports 'Exponential' Growth In 2011NEW HAVEN, Conn.-Continuity Control, provider of a compliance management platform for credit unions and community banks throughout the U.S., said it exceeded 2011 growth projections and for the fifth consecutive quarter has doubled its revenue. Continuity added 26 new community financial institution customers in the fourth quarter.For info: www.continuity.netOn Your Way, MoneyU Form PartnershipDALLAS-On Your Way, a reward-based, web program to attract and educate Generation Y, here, and MoneyU, a financial game based in Rockville, Md., said they have partnered to help improve the financial skills and well-being of credit unions' young adult members.For info: www.onyourwayinfo.com or www.moneyu.comFarin & Associates Rolls Out New ServiceFITCHBURG, Wis.-Farin & Associates, Inc., a consulting firm that provides asset/liability management solutions and retail product-pricing solutions to financial institutions, announced the rollout of iPrice Core Analytics, a non-maturity core deposit study service.For info: www.farin.comNXGEN Signs Iowa's Veridian CUWHITEFISH, Mont.-NXGEN Payment Services signed $1.9-billion Veridian CU, the largest credit union in Iowa. The company recently signed contracts with the largest CUs in both Oregon and South Dakota.For info: www.nxgen.comDwight Johnston, Callahan Provide New Analysis For CU ExecsCLAREMONT, Calif.-Dwight Johnston Economics and Callahan Financial Services are partnering to provide a new daily economic commentary written specifically for credit union leaders. The service is complimentary and available by registering at the Trust for Credit Unions website.For info: www.trustcu.comBluepoint Announces Record 2011 Performance ResultsHENDERSON, Nev.-Bluepoint Solutions said its 2011 performance included record results in all business segments, including customer growth and retention, the addition of new channel partners, and the development and deployment of new technology solutions. In 2011, Bluepoint grew its direct customer base by 36% with a 99% percent retention level.For info: www.bluepointsolutions.comCredit Union 24 Adds 17 CUs In Q4TALLAHASSEE, Fla.-Credit Union 24, a credit union-owned ATM and point-of-sale (POS) network, said 17 credit unions, representing $3.6 billion in assets and more than 400,000 members, joined the network during Q4 2011, resulting in the most successful sales quarter for the network during 2011.For info: www.cu24.comPSCU Financial Services To Showcase Mà �PROST. PETERSBURG, Fla.-PSCU Financial Services will showcase a new payments strategy called Mà �PRO-which it said synergistically combines engagement, agility and focused energy to enhance revenue and market share for its member-owner credit unions-at its 2012 Senior Leadership Workshop and Member Forum, April 25-27 in San Diego.For info: www.pscufs.comS&P Affirms 'BBB' Rating For CMG MISAN FRANCISCO-CMG Mortgage Insurance Company said Standard & Poor's Rating Services affirmed the company's "BBB" rating, maintaining a negative outlook. Although the report expressed concerns about the private mortgage insurance sector as a whole, it noted, "Relative to its peers, CMG MI's operating results have improved at a faster and more stable rate."For info: www.cmgmi.comAlloya Signs With VSoftWARRENVILLE, Ill.-Alloya Corporate FCU and VSoft Corporation have entered into a partnership that outsources the corporate's back office item processing services to VSoft.For info: www.vsoftcorp.com
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ST. LOUIS - A tiny CU here has entered into a loan participation agreement with a much larger credit union to help meet demand for microenterprise loans.
February 27 -
Big banks are better than credit unions at handling new account prospects, according to a new study to be released this week.
February 27 -
Kern Schools FCU, Bakersfield, Calif., named Matt Davidson EVP, Michael George SVP of operations and marketing, Steven Matejka SVP of branch administration and compliance, Larry Braley VP of wealth management, Janet Tibbets VP of information technology, Chei Brown director of branches, and Mark Manns director of human resources.
February 27 -
ABBOTSFORD, B.C., Canada - A treasure hunt is paying dividends for Prospera Credit Union as it opens a new branch here.
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It isn't just growth rates that differ between the largest and smallest credit unions — trends in CEO compensation moved in different directions during 2011, as well.
February 27 -
The Money Anxiety Index for January stood at 93.9, an improvement of 1.4 index points over the same month in 2011 and is shaking out at 92.3 in February, an improvement of 0.7 over January, and a 2.4-point increase over the same month last year.
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What the Great Recession had in store for Tom Dorety and Suncoast Schools FCU is something no credit union CEO could have prepared for.
February 27 -
SAN DIEGO-USE Credit Union is getting back to its roots — university employees — and seeing positive results.
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