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SAN JOSE, Calif. - Would you turn your members away and tell them to go to a bank instead? One credit union realized that is essentially what it did when it sold its credit card portfolio to a bank.
May 16 -
MIAMI, Fla. - The bad news: credit card fraud is still a problem. The good news: it’s down slightly and actually offers some marketing opportunities, according to one expert.
May 16 -
MADISON, Wis. - The Filene Research Institute has initiated CU Tomorrow, an initiative aimed at helping credit unions attract younger members, younger professionals, and younger volunteers. As one component of CU Tomorrow, Filene has also introduced CU Tomorrow Business Briefs, a “series of open-source, young adult business plans for credit unions.”
May 16 -
GREENSBORO, N.C. - Employees of First Carolina Corporate Credit Union are pledging to walk a distance equivalent to walking to every other corporate CU as part of a wellness program. Assembled by the corporate’s Wellness Committee, the goal is to help employees lose weight, get fit and improve their well-being through two programs:
May 16 -
CHANTILLY, Va. — The prepaid card industry is growing up. The proof is in the name.
May 16 -
CHICAGO - Nearly 900 executives representing more than 150 credit unions turned out for the Illinois Credit Union League’s (ICUL) 78th Annual Convention at the Chicago Hilton & Towers here.
May 16 -
MADISON, Wis. - CUNA reported the National Youth Saving Challenge had a record-breaking year, as young credit union members deposited nearly $11.8 million into saving accounts throughout the week-long event. Through the saving challenge, held in conjunction with National Credit Union Youth Week, credit unions sought to motivate children, teenagers, and their parents to become more active users of credit union services. Participating credit unions tallied the total amount of deposits, the number of new accounts opened, and the total number of deposits made by young members during the week and reported their results to CUNA. Overall, 395 credit unions reported $11,775,163 deposited by 75,420 young members. These credit unions also welcomed in 6,583 new youth accounts. In 2007, 393 credit unions reported $10,133,355 in deposits from 71,844 young members. Additionally, 9,067 new youth accounts were opened last year.
May 16 -
YORK, Penn. - Two employees of First Capital FCU here are being credited with actions that led to the arrest of a woman who attempted to steal gasoline from a local convenience store. Gidget Smith and Tracey Hufnagle noticed a woman removing a license plate from her car before driving to the gas pump at a Rutters store. The two CU employees called Rutters to warn them, and as a Rutters employee was going to talk with the woman she drove off without paying for the gas. Smith and Hufnagle followed the woman, obtained her license plate info, and called police, who later arrested the woman and found she was wanted for another drive-off. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com
May 16 -
BATON ROUGE, La. - The $357-million Campus Federal has begun to offer a free checking product that offers higher dividend rates and ATM fee refunds, along with other premiums.
May 16 -
SUITLAND, Md. - Andrews FCU reported it has doubled its volume of sales in prepaid Visa gift card sales since the launch of its program in late November 2007. From November 2007 to February 2008, gross sales totaled 1,238 card with $99,906 in loaded funds. Andrews Federal sells Visa Prepaid Gift Cards to members directly at teller windows for $2.95. Loading of the cards can be done with a credit card or by transferring funds from a checking account for amounts up to $500. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com
May 16 -
JUNEAU, Alaska - NCUA Vice Chairman Rodney E. Hood told the Alaska Credit Union League’s Annual Conference here it was appropriate to be meeting in Juneau while the local area is in the midst of an energy crisis due to an avalanche hat had cut power. Hood went on to say that energy crisis in Juneau is one of the many examples of credit union members needing access to capital during a broader, nation-wide financial crisis.
May 16 -
MADISON, Wis. - Credit unions can learn how to use business services to build member relations and about Net Promoter Scores in two new white papers from the CUNA Operations, Sales, and Service (OpSS) Council. “Taking Care of Business Members: The Case for Business Services as a Relationship-Building Strategy” illustrates how credit unions can grow with their business members and establish a two-way conduit to their personal and business accounts. The second white paper, titled “Net Promoter Score in Action,” describes the score’s framework and how it is being used at three credit unions.
May 16 -
PITTSBURGH - In the small, former steel mill town of Monessen, Penn., 30 miles south of Pittsburgh, Jim Ritter, CEO of Valley 1st Community FCU, is seeing some of the toughest economic conditions in the nine years he’s run the credit union. Many residents are struggling with finances, with rising prices for energy and commodities hitting the elderly the hardest.
May 16 -
PHILADELPHIA - Jerry Mathers, who starred as a child as Beaver Cleaver in the hit TV series “Leave it to Beaver,” turns 60 this year, which is why he was on hand at American Heritage FCU’s Member Appreciation Day. The $690-million credit union is also turning 60 in 2008. The Member Appreciation Day is an annual event at the credit union and includes a full day of activities, including carnival games, pony rides, free food, face painting for kids and giveaways.
May 16 -
WASHINGTON - Economic stimulus checks have begun showing up in mailboxes, and the IRS has issued an alert that scam artists are actively making the rounds using the proposed rebates as bait. Among the scams:
May 16 -
PITTSBURGH - Credit Union Journal asked CUs at the Pennsylvania CU Association’s annual meeting, “How is the economy affecting your members?”
May 16 -
SAN DIEGO - PSCU Financial Services has announced a new policy in which any credit union with 24 months or less remaining on a contract with another vendor can sign a letter of intent to move that program over to the cooperative and gain the company’s relationship price discounts immediately. The policy change was announced by PSCU-FS President David Serlo during the CUSO’s 2008 Member Forum here, the largest it has ever hosted in its 31-year history.
May 16 -
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SAN DIEGO - When it comes to credit and debit programs, credit unions should focus more on overall revenue and not try to determine which platform will be most popular with members, according to Ron Silvia, director of debit services with PSCU Financial Services.
May 16 -
SAN DIEGO - Wayne Best, senior VP of Business Research and Reporting, with Visa, said that the “rise in unemployment rates signal a recession, but we expect it to be of short duration, and end this summer.”
May 16