SAN DIEGO - Converting one large credit union's core data processing system without any glitches can be challenging enough. But try switching over four shops in one weekend-including three billion-dollar CUs.

Decoupled Cards Could Have Legs In The Market

DEER PARK, Texas - One credit union has introduced a youth program with a unique component: a heavy dose of community volunteerism and involvement-and a bit of "green," as well.

SPOKANE, Wash. - Numerica CU has found a way to make it the first resource small businesses turn to for help by donating space at one of its branches for use by a program geared towards helping local small businesses.

WASHINGTON - The Federal Home Loan Bank of Chicago, which has been promoting its secondary mortgage market program as an alternative to Fannie Mae and Freddie Mac, announced it has agreed to sell loans under its Mortgage Partnership Finance program to Fannie Mae.

GRANITE CITY, Ill. - With its debt-wary members facing down high travel costs during what would otherwise have been a big vacation season, one credit union found a way to whet its members' appetite for hitting the road this past summer.

ST. PAUL, Minn. - California Gov. Arnold Schwarzenegger's veto of CU-sponsored data security legislation was met with disappointment 1,880 miles away at the Minnesota Credit Union Network, which was the driving force behind last year's passage of Minnesota's Plastic Card Security Act.

ST. PAUL, Minn. - Radio advertising has begun running across two states this week as part of separate campaigns with similar messages: credit unions are safe and deposits are insured. The Minnesota Credit Union Network is backing a two-week schedule on major stations, and offering to state credit unions to be customized and aired in their respective markets.

SEATTLE - The newest graduating class of the National CU Foundation's Development Educator training are: Barb Bass of the Credit Union League of Connecticut; Dave Sieminski of Community Capital Development; Dorwin Manzano of Gasparillo (Trinidad/Tobago); Eric Vandermause of CUNA Mutual; Erin Pearson of Washington State ECU; Fred Brown of Northeast Family FCU; Ginger McNally of Santa Cruz Community CU; Jill Stevenson of the NCUF; Jim Dixon of Broomfield, Colo.; John Elden of Corporate One; Jose Ravel of OAS FCU; Jose Rullan of American Airlines FCU; Kathy Wutke of Vancity Savings CU; Kristin Roosmalen of the NCUF; Laura Busque of the Ohio CU System; Lauren Mayhew of Daviess County Teachers CU; Leigh Brady of NC State ECU; Lily Newfarmer of Tarrant County CU; LouAnn Billings of Pentagon FCU; Mark Caverly of Local Governmet FCU; Mike Delker of the Texas league; Nicole Brusewitz of the Credit Union Association of Colorado; Paul Pickett of El Futuro CU; Rebecca Isaacs of the CU Association of New Mexico; Roshelle Grisby of Point West CU; Shani Vance of Suncoast Schools FCU; Shari Duff of Classic FCU; Shelly Berryman of Schools First FCU; Stephen Serfozo of McClatchy ECU; Suzanne Brighton of Washington State ECU; Tim Kovac of CUNA Mutual, and Valerie Harrison of the National Federation of CDCUs.(c) 2008 Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/

WASHINGTON - In a move that will boost secondary mortgage market sales, Fannie Mae said it will not add a new surcharge on mortgages it buys in some of the weakest housing markets, as it planned to do on Nov. 1.

NCUA Takes Over Two More CUs

NEW YORK - Perhaps no group of financial institutions could be more opposite from the big, for-profit, investment banks than the National Federation of Community Development Credit Unions, so CU Journal asked Federation Executive Director Cliff Rosenthal for his thoughts on how the financial upheaval will affect his member credit unions.

Welcome to the 12th Annual "Day in the Life" special feature sponsored by Fidelity National Information Services, Inc. (FIS). We are proud to sponsor this celebration of International Credit Union Week with the Credit Union Journal.

WASHINGTON - Determining how a credit union stands relative to its peers in terms of returning value to its members is a complex issue. Callahan & Associates, Washington, has attempted to do just that with its Return of the Member (ROM) ranking system.

TASHKENT, Uzbekistan-On Aug. 22, Sevara Mukhamet-Alieva, director of World Council of Credit Unions' (WOCCU) development program in Uzbekistan, knew she'd spend her day answering e-mails, returning calls, visiting a member credit union and preparing for a board meeting of the Credit Union Association (CUA), a trade group developed to help manage and regulate the country's 55 credit unions. Mukhamet-Alieva did not know she would spend time dealing with an earthquake.

COLUMBUS, Ohio — What investment strategy should credit unions be deploying in a struggling, even sinking economy? The same strategy deployed when the economy is strong, several analysts told Credit Union Journal.

BIRMINGHAM, Ala.–The $239-million Legacy Community Federal Credit Union said it plans to build a $1-million branch right across the street from an old branch it is replacing in nearby Hoover, Ala.Plans for the new branch come a year after Legacy acquired the $12-million Birmingham Federal Employees FCU.Legacy said the new branch will have more drive-through windows, as well as additional space.

WOLLONGONG, Australia–Horizon Credit Union was forced to halt its board elections after the Independent Commission Against Corruption issued corrupt conduct findings against one of the nominees.The nominee in question is former Wollongong Council CEO Rod Oxley. After ICAC released its third report referencing Oxley, the credit union's nominating committee determined he was no longer eligible to stand for the board eat and declared the current ballot null and void.The credit union said it will hold a new election as soon as possible.

EUGENE, Ore.–Pointing out that it's just another demonstration of "the credit union difference," SELCO Community CU employees will be hard at work on what is traditionally a "bank holiday" this coming Monday, volunteering at more than a dozen local agencies.

“Credit unions are unique because they are member-owned financial cooperatives—not a distant name traded on Wall Street," said Bob Newcomb, SELCO CEO. "SELCO has its roots deeply imbedded in this community, and it’s important that our neighbors see our faces out there making a difference and understand that we’ll be here to help them, too, regardless of the changing financial landscape.”

The agencies include FOOD for Lane County, NextStep Recycling, Relief Nursery, and the Cascades Raptor Center. Team members will do a variety of light gardening, construction, and cleaning duties depending on their interest and physical abilities.

MADISON, Wis.–A new study by Filene Research Institute seeks to identify the secrets behind the success of large credit unions, specifically focusing on those that demonstrate rapid growth in assets, membership and earnings.Conducted by Filene's former executive director, Bob Hoel, "Thriving Large Credit Unions" found that star credit unions conduct a number of business practices and traits that distinguish them as exceptional performers including:• They are highly effective lenders.• Their members use the credit union extensively.• They excel in high- payoff product and service offerings.• Their members receive more total interest income on their savings.• They operate more branches and are more likely to engage in indirect lending.• They generate more fee income than their peers.• They invest their capital in growth.One of the most exciting findings of the research, Filene said, is the consistency of the key success factors for star credit unions across asset size categories and time frames.