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BROOKFIELD, Wis.-With the Durbin Amendment hanging over CUs like the "Sword of Damocles," Mark Sievewright says it's time credit unions reinvent how they generate non-interest income.
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SACRAMENTO, Calif.-The Golden 1 Credit Union is one of the great turnaround stories in California, having posted five consecutive profitable quarters after enduring huge losses in 2008-09.
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PLEASANTON, Calif.-Credit unions will be putting new emphasis in the latter half of 2011 on gaining members and wallet share as the economy grinds toward recovery.
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KANSAS CITY, Mo.-For Brandon Michaels, CFO at Mazuma CU here, the first half of 2011 has been fairly positive. The rest of the economy, however, "is still going to be a tough go," he adds.
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ST. LOUIS-Slow economic growth means branches will continue to underperform and demand that credit unions make smart and hard decisions about the retail distribution network, one person is emphasizing.
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ORLANDO, Fla.-With Florida seeing so much damage as a result of the housing bubble's burst, it's not surprising to hear Orlando FCU CFO Suzanne Weinstein tag her hopes for an economic recovery in the second half of 2011 to the housing market.
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LOMBARD, Ill.-Unfortunately, now may be the best credit unions feel about the economy in 2011, according to one analyst who predicts things will take a turn for the worse in second half of the year.
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DES MOINES, Iowa-Four things should be on credit unions' radar in the second half of the year, according to The Members Group.
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WILMINGTON, N.C.-Slow economic progress in the last two quarters will actually increase the emphasis on debit this year, predicts one analyst.
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SAN ANSELMO, Calif.-A new analysis has found that deposits in domestic branches of FDIC-insured institutions reached an all-time high of $8 trillion at the end of the first quarter 2011, despite the fact that the national average rate for deposits remained low at 0.86% during the same time period.
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LIVONIA, Mich.-The Michigan CU League is asking credit unions and their members to play their part in turning around this state's economic fortunes.
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MADISON, Wis.-Credit union lending increased during April, the first monthly increase since August of 2010, according to a CUNA analysis released last week.
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RIVERWOODS, Ill.-CU members were more optimistic about the economy than non-members, according to the April Discover U.S. Spending Monitor. The poll tracks economic confidence and spending intentions throughout each month with 8,200 consumers. Members ranked the economy at 92.2 in April-an increase over 90.8 in March. Non-members' sentiment was at 87.5 in April and 88.7 in March, while rankings by overall adults-members and nonmembers alike-were at 89.4 in April and 89.5 in March. Still, 55.8% of members and 55% of total adults surveyed rated the overall economy as "poor" in April. In March, 53.3% of members gave the same rating.
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OKLAHOMA CITY-Following tornadoes that have devastated portions of the Midwest and South, Communication FCU here introduced a loan to help members finance storm shelters.
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RALEIGH, N.C.-As credit unions vie for bank customers' checking business, what really attracts the accounts, according to one CU, is making switching checking accounts easy for members.
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MADISON, Wis.-The Wisconsin Credit Union League has mounted a lobbying effort against a provision in the state's budget bill that would allow direct conversion from a credit union charter to a banking charter.
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PHILADELPHIA-A federal appeals court last week upheld a lower court ruling that CUNA Mutual Group was wrong when it discontinued payment on a credit disability insurance policy after three years because it found the credit union member no longer met its definition of "total disability."
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SAN DIEGO-The fact that credit unions increased their lending through the recent financial crisis is being noticed in state capitals and in Washington.
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