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Market Intelligence:
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  • Something About Mary, And Other Issues With Uncivil Behavior

    Often we frame our view of civility in terms of another’s uncivil behavior. In our own shops we may have encountered irate members employing coarse language, or witnessed an occasional board member tirade. Employees occasionally lose their cool with a member or a fellow employee. These are easily detected examples of incivility, some within our control and others beyond it.

    February 11
  • Down-To-Earth Problems, Outer Space Themes, & Global Issues

    Should the credit unions that have been reporting losses for the fourth quarter be required to disclose that promptly to their members?

    February 11
  • CUJ content
    Massachusetts CUs Give $300,000 to Boston Childrens Hospital

    BOSTON – Representatives of the Credit Unions of Massachusetts’ Kids at Heart program donated a $300,000 check to Childrens Hospital of Boston.

    February 10
  • CUJ content
    MidFlorida FCU Awards New Car to Teacher of the Year

    LAKELAND, Fla. – Longtime history teacher Danny Whittenton last week was rewarded for his love of the classroom with a 2008 Toyota Prius, courtesy of MidFlorida FCU, when he was honored as Polk County’s 2008 Teacher of the Year.

    February 10
  • CUJ content
    Greylock FCU Expands Insurance Agency

    PITTSFIELD, Mass. – Greylock FCU last week said it opened a sixth office for its growing insurance agency in nearby Great Barrington, completing the agency’s expansion through the western Massachusetts county of Berkshire.

    February 10
  • CUJ content
    Fairwinds CU Announces $25 Million Branch Expansion

    ORLANDO, Fla. – Fast-growing Fairwinds CU on Friday announced it plans to add another eight branches across Central Florida this year, on top of the seven it opened last year. The additional branches are budgeted to cost $25 million.

    February 10
  • CUJ content
    Washington Regulator Says Unelected ‘Associate’ Directors Have Same Responsibilities

    OLYMPIA, Wash. – The growing number of credit unions adding non-voting "associate" members to their boards of directors should understand that associates must meet the same statutory requirements as elected members of a board, the state regulator here said in a new interpretative letter.

    February 10
  • CUJ content
    Laptop-Sized Check-Cashing Unit Hits Market

    NEWARK, Calif. – Tranax Technologies last week said it has teamed with VALID Systems to provide an all-in-one check cashing terminal no bigger than a laptop computer that can be plugged and used immediately.

    February 10
  • CUJ content
    Pay By Touch Cleared to Sell Assets

    SAN FRANCISCO – A bankruptcy judge last week gave Solidus Networks, also known as Pay By Touch, clearance to sell its money losing subsidiaries, some of which the company just acquired in the past three years as it built up a mini-conglomerate.

    February 10
  • CUJ content
    Revolution Money, a New Payments Card, Inks First Processing Deal

    ST. PETERSBURG, Fla. – Revolution Money, a new payments company backed by big venture money, last week said it signed the first processor relationship for its RevolutionCard, a PIN-based credit card.

    February 10
  • CUJ content
    Stimulus Bill Adds Liquidity to High-Priced Mortgage Markets

    WASHINGTON – The economic stimulus packaged passed by Congress will add some much-needed liquidity in high-priced mortgage markets by allowing Fannie Mae and Freddie Mac to buy larger mortgages from credit unions and banks.

    February 10
  • CUJ content
    Mortgage Market Losses Trim Bottom Line at U.S. Central

    LENEXA, Kan. – U.S. Central FCU last week reported it had a disastrous third quarter when the mortgage market crashed, which caused net income to plunge 89% for 2007 to $6.9 million, from $62.9 million the year before.

    February 10
  • CUJ content
    Centrix CUs Seek Jury Trial to Settle Insurance Fraud Charges

    DENVER – In a case that could exacerbate financial turmoil throughout the credit union industry, almost three dozen credit unions being sued by the insurer for Centrix Financial on Friday asked the federal bankruptcy court for a jury trial to determine whether they colluded with the failed subprime auto lender in order to fraudulently continue to collect insurance payments.

    February 10
  • CUJ content
    Eastern Financial Florida CU CEO Steve McGill Quits After Big Losses

    MIRAMAR, Fla. – The fall-out from last year’s huge losses among some credit unions continued today with the resignation of Eastern Florida Financial CU President and CEO Stephen McGill, after Eastern Financial reported one of the largest losses ever for a credit union in 2007.

    February 8
  • CUJ content
    Visa Reports Pre-IPO Doubling of Earnings

    SAN FRANCISCO – Cards giant Visa Inc. , which is preparing to go public in an initial public offering, reported this week it more than doubled net income for its fiscal first quarter to $424 million.

    February 7
  • CUJ content
    Prosecutors Say CDCU Figure Siphoned Member Funds to Cover Fraud

    Prosecutors Say CDCU Figure Siphoned Member Funds to Cover Fraud

    February 7
  • CUJ content
    IC FCU Signs With Balance for Member Counseling

    FITCHBURG, Mass. – IC FCU yesterday said it is partnering with Balance Financial Fitness Program to provide its members with financial education and counseling.

    February 7
  • CUJ content
    Suncoast Schools FCU’s Card Program Raises $1.2 Million for Schools

    TAMPA, Fla. – Suncoast Schools FCU yesterday said its check card rewards program, which sets aside funds every time a member makes a credit card transaction, raised $1.2 million for local schools.

    February 7
  • CUJ content
    Purdue Employees FCU Launches Mobile Payments Through MShift

    LAFAYETTE, Ind. – Purdue Employees FCU announced the introduction of a mobile payment service for members, called PEFCU2Go.

    February 7
  • CUJ content
    Industrial CU Provides Mobile Banking Through Metavante

    BOSTON – Industrial CU said it has signed with Metavante to provide its members with mobile banking services through Monitise Americas. The service will be offered through Metavante’s NYCE electronic funds transfer network.

    February 7
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23RD ANNUAL THE MOST POWERFUL WOMEN IN BANKING

Meet The Most Powerful Women in Banking 2025, our annual ranking of the executives at the pinnacle of the industry.

ABM1025_Cover.jpg

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