TOPEKA, Kan. - A bill that could lead to substantial field of membership (FOM) restrictions on state-chartered credit unions in Kansas passed the State Senate by a 35-2 vote last Wednesday.

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MADISON, Wis. - The latest reductions in the federal funds rate should only help credit unions to increase their earnings, according to an analysis by two experts, with one cautioning that credit unions must be particularly aggressive in managing their costs of funds.

TOPEKA, Kan. - Legislation making its way through the statehouse here could impose severe field of membership restrictions on at least nine state-chartered credit unions:

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NORTHVILLE TOWNSHIP, Mich. — Sure, participating in the Voluntary Income Tax Assistance (VITA) program is a good people-helping-people activity, but it's also an opportunity to grow the credit union.

WEST PALM BEACH, Fla. - While the Fed has been headed one way with rates, a number of credit unions nationally have gone the other with some eye-popping high rates offered on certificates. While carefully limiting terms and deposit maximums with an eye on ALM, the strategy is to attract new members–in some cases, specific new members–and also increase awareness of the credit union.

TAMPA, Fla. - Boasting one of the most uncommon bonds around, Dwarf Credit Union apparently provided financial services for tiny artificial people in 1975 at Busch Gardens here. Washington State credit union supervisor William E. Young snapped this shot of the tiny gnomes doing credit Union business during a visit to the amusement park. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

KEY WEST, Fla. - It’s good to track the credit union’s growth against the business plan and past performance, but it’s better to also compare how the organization is performing against local competitors.

At press time, the number of co-sponsors on the CURIA bill. 218 are needed to have a majority. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

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Looking To Grow Your Credit Union This Year? Here’s How

Mark Meyer of the Filene Research Institute got his first taste that the speaker he had invited to address a breakfast hosted by the Institute would talk about what she darn-well pleased when he attempted to suggest some topics. The invited speaker made it clear: you won’t “censor me.”

BOCA RATON, Fla. - Credit unions may not be tightening underwriting standards to the degree other lenders are, but they would be mistaken to confuse consumers with little or no credit with subprime borrowers, according to one new analysis.

I’d like to comment on the latest events taking place due to the Fed’s actions on interest rates, or the economy, whichever is easier to handle and write about. Everybody seems to have been waiting for this as an opportunity to improve profitability at their shop. Why not take this as an opportunity to improve your position in the market place, just as real estate lending CUSOs are pushing for in the lending arena?

MARCH

Do the right thing. This is an elementary concept, yet many businesses have deviated from this basic principal. We in the credit union community need to bring this elementary concept back into our consciousness and become ethical leaders. The recent experience with sub-prime lenders and predatory lending demonstrates this need.

WEST PALM BEACH, Fla. - CU Journal gives readers the opportunity to weigh in on a variety of issues. Below are the results of a recent online poll. To add your two cents or see past surveys, visit www.cujournal.com.

Dan Clark offered this list of critical areas a credit union should cover in an in-house orientation program for new board members:

Is your new director faking it till he makes it?