December

FAIRBORN, Ohio-One of the largest credit unions in central Ohio is radically changing its presence in the mortgage market.

WASHINGTON-House leaders are expected this week to back a bid to exempt all credit unions less than $10 billion in assets from examination by the new Consumer Financial Protection Agency, the latest bid to carve credit unions out of legislation aimed at plugging holes in the financial regulatory system.

DES MOINES, Iowa-The Iowa Credit Union League has withdrawn its application to purchase the $16-million, Tucson, Ariz.-based CreditCard National Bank.

SAN DIEGO-Credit Union Journal asked attendees at the recent CUNA Lending Council if they continue to see greater loan demand as a result of banks pulling back on lending, and if so, are they having to turn down more loans than usual because of the quality of the paper?

ALEXANDRIA, Va.-NAFCU called on NCUA last week to use more of the National CU Share Insurance Fund's reserves before assessing federally insured credit unions more charges for the corporate credit union bailout and other credit union failures next year.

ALEXANDRIA, Va.-NCUA told a labor union credit union it could not pledge its assets to secure excess deposit insurance for some of the unions that it serves.

AUSTIN, Texas-At least one credit union is opting for private deposit insurance to help it escape from the growing costs of the corporate credit union bailout.

Hearings

Brent Mangini has been named the Director of Consumer Lending at Community First CU, Jacksonville, Fla.

DALLAS-Southwest Corporate FCU reported Monday that the further depletion of its membership capital shares in U.S. Central FCU last month created a loss of $40.2 million for October, and a loss of $128.9 million for the first 10 months of the year. The $9-billion corporate said the depletion of its U.S. Central shares erased a quarter of its remaining member capital shares, totaling about $43.1 million.

PHOENIX-At the same time Americans are incensed by banks collecting TARP money and paying executives big bonuses, some leaders within the credit union movement are taking accountability for lean years by voluntarily capping their salaries and even reducing their pay.

PLAINFIELD, Ind.-Crane FCU has entered the Indianapolis market with plans to open a new branch in the former headquarters of Lincoln Bank it has acquired.

MIDDLETON, Wis.-In Bob Hoel's crystal ball, the year 2109 holds a three-tier financial system with most credit unions playing right in the middle.

RANCHO CUCAMONGA, Calif.-What's happening in the small business market today, with many banks turning their backs on these customers and credit unions expressing greater interest in serving them, is a strong signal that big change is coming for CUs by 2109, observes Stan Hollen.

ONTARIO, Calif.-In 100 years, credit unions could be in the indirect lending business for spaceships.

MADISON, Wis.-According to CUES President Fred Johnson, the strength of credit unions in 2109 will be no different than it is in 2009.

BIRMINGHAM, Ala.-Credit unions in 2109 will play even stronger roles in their communities, thanks to money center banks gobbling up community banks, predicts Dennis Dollar, principal with Dollar Associates.

MADISON, Wis.-The basics of the credit union movement - its focus on members and emphasis on core banking products - will likely not change a great deal in the next 100 years, predicts Kim Sponem, president of the $1.3-billion Summit CU.

CORVALLIS, Ore.-As technology makes financial interaction far less personal in 2109, the importance of providing financial advice and assistance will become exponentially greater, predicts Bryan Sims.