CHANDLER, Ariz.-First Credit Union has a lofty plan for 2011: to save its members a million dollars or more.

WASHINGTON-The NCUA Board last week issued for comment a rule that would bar certain incentive-based bonuses that would encourage risky management behavior or expose credit unions to large losses and require all credit unions over $1 billion to disclose incentive packages on an annual basis.

Federation Announces Speakers

Member One FCU, Roanoke, Va., promoted Mary Harris to lending analyst, named Stedman Payne the new VP of its main downtown Roanoke office, tapped Eva Shaw as VP of the Vinton Branch, and appointed Steve Crowder VP of corporate projects.

TAMPA, Fla.-Credit unions are being urged to become more active in developing strategies to grow credit and debit rewards programs, despite what doomsayers are predicting.

RANCHO CUCAMONGA, Calif.-Credit unions should enjoy the short window of time remaining for debit transaction income to be unaffected by the Durbin amendment to the Dodd-Frank Financial Reform Act, because that window is closing.

ST. PETERSBURG, Fla.-If interchange income from debit cards is reduced, Tom Gandre foresees credit cards-and credit card rewards programs-taking on increasing importance.

DES MOINES, Iowa-Credit and debit rewards programs are not going to disappear because they remain effective tools and serve as differentiators.

WILMINGTON, N.C.-Credit unions and banks will find debit and credit rewards are more important in the wake of the Durbin Amendment rules and not less, according to Bob Giltner.

Banks Finally Switching Back To Playing Offense

NCUA PUTS KIBOSH ON CORPORATE BRIDGE BUILDING

RANCHO CUCAMONGA, Calif.-The bad weather during the winter of 2010-11 has been of such proportions that it isn't just road salt and government clean-up budgets that are running short. Pundits have even begun to run out of clever nicknames for all of the storms.

March 1 Is HMDA Deadline

ST. LOUIS, Mo.-Children of Gateway Metro FCU members can receive the kind of CD rate their parents can only long for: 10%.

What if your board expenses were to end up on the front page of your local newspaper? That uncannily prescient question was asked by an NCUA examiner in an exam report that red-flagged the board perks at Hawaii State FCU in Honolulu.

Whatever a credit union's reasons for exploring a credit card portfolio sale and establishing an ongoing issuing partnership, thinking these elements through before you start is critical.

If adopted, a proposal from the Federal Trade Commission would no longer exempt credit unions from its Telemarketing Sales Rule.

SANTA ROSA, Calif. – Redwood CU announced today it has agreed to absorb Cal State CU Of North Bay, an ailing one-time $110 million credit union located in the same town. Cal State CU, which reported net worth of just 3.7% and assets of $90 million at year-end, is the second large California credit union to be merged out in recent weeks, following Oakland Municipal CU, a one-time $110 million credit union that was acquired by Western FCU. The deal will give $1.7 billion Redwood, which reported net income of $6.1 million for 2010, four additional branches in its core market.

SAN DIMAS, Calif. – The member advisory committee for WesCorp Bridge Corporate FCU voted overwhelmingly to apply to NCUA to re-charter the one-time $34 billion corporate credit unions–a first step in what is expected to be the pursuit of a merger with Members United Corporate FCU. Both entities are being run under conservatorship by NCUA, which has stripped out all of their investments and is liquidating them as part of the corporate resolution. Earlier this week, credit unions in New York voted to pursue a re-chartering of Members United. The panel votes came a week after NCUA warned off the two failed corporates from hooking up before they shed their so-called bridge status and are re-chartered as proper corporates. It also came a day after NCUA issued new corporate chartering guidelines. The next step will be for the WesCorp Bridge Member Advisory Executive Committee to engage NCUA’s Office of Corporate CUs to gain support of the business plan to be submitted before March 31. John Updyke, chairman of the advisory committee and president of Honda FCU, said they will seek consent of the remaining WesCorp member credit unions before seeking final approval from NCUA.

DANVILLE, Penn. – M-C FCU donated the first installment of its $10,000 contribution to the Evangelical Community Hospital in Lewisburg on Feb. 15.