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WASHINGTON - The problems in residential mortgages are not showing up yet in commercial real estate, with the exception of slight increases expected in 2008 in real estate vacancies in some markets, according to the Commercial Real Estate Outlook of the National Association of Realtors (NAR).
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HARAHAN, La. - Carolyn Ricks, director of compliance and credit union development for the Louisiana league, has died. Ms. Ricks, 63, was a 30-year veteran of the league, and also served on the board of Louisiana Central. In a released statement, LCUL said, “Carolyn was a passionate community volunteer. She spent countless hours serving with the homeless ministry at St. Mark’s United...Carolyn initiated a project many years ago at the league to provide gift bags for homebound senior citizens in the Harahan area each year during Christmas. She also volunteered as a docent for museums...and an avid supporter of the SPCA.” Memorial donations may be made to St. Mark’s United Methodist Church, 1130 N. Rampart Street, New Orleans, LA 70116. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com
January 4 -
SAN DIMAS, Calif. - After a review by auditors, WesCorp has restated its earnings for 2005, made adjustments to its 2006 earnings, and revised its hedge accounting practices for 2007. The result of the restatement, according to the $33-billion WesCorp and auditor KPMG, LLP, is an increase in income and retained earnings of $16.1 million over the period 2005 to September 2007, with 2005 now showing a negative adjustment of $22.9 million, but 2006 and 2007 (through Sept. 30) showing positive increases to net income of $16.9 million and $22.1 million.
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MADISON, Wis. - Credit unions were keeping a close eye on Kenya last week as riots escalated over a presidential election.
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SACRAMENTO, Calif. - The Golden 1 Credit Union has introduced a web-based college planning service offered by Collegiate Funding Solutions (CFS).
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SAN DIEGO - Looking ahead to grow? The advice from one CEO is to look back.
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WASHINGTON - The “doom and gloom” being seen and discussed elsewhere is actually “great” for credit unions.
January 4 -
ORLANDO, Fla.–The Credit Union Journal has unveiled the formal agenda for a conference dedicated solely to the No. 1 issue in front of credit unions: Growth.
January 4 -
Imagine going back just a year ago - who could have imagined then what 2007 would hold? Who foresaw a credit union “hostile takeover” attempt? A meltdown in the mortgage market (some ignored prognosticators actually did offer warnings)? That the most popular color in credit union branches would become “green?”
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RANCHO CUCAMONGA, Calif. - Terrin Mendivil believes the tightening lending standards in most markets represent yet another opportunity for credit unions in 2008. She said CUs will have a chance to attract new members.
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Periodically, outside observers reach the conclusion that the credit union industry is overcapitalized. Dr. William Jackson’s Filene Research Institute paper (Credit Union Journal, Dec. 10, 2007) is the latest example. I believe the conclusion is based on an incorrect comparison of the role of capital for credit unions versus for banks.
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WEST PALM BEACH, Fla. - It was 10 years ago President Clinton culminated an extraordinary effort by CUs when he signed HR 1151 into law. We want to know about your memories: meeting with representatives, getting petitions signed, and so much more. You’ve got 200 words to do it. Take a moment and click on the Letters to the Editor tab in the left-hand nav bar on cujournal.com and share your thoughts. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com
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LOMBARD, Ill.–One analyst sees a basic growth issue for credit unions in 2008–checking accounts.
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BOSTON - Mobile operators anticipate that 25% of subscribers will regularly use mobile banking by the end of 2009, compared to approximately 7% at the end of 2007, a new study shows.
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LOUISVILLE, Ky. - After reading an ad for credit unions in a March 1951 edition of Business Week, Martin F. Schmidt, president of the Coca-Cola Bottling Co., here, contacted CUNA headquarters in Madison, Wis., to find out how to start a credit union for the soft drink bottler’s employees. Schmidt’s memo reached CUNA field worker John Colby’s desk on March 4, and by March 11 Schmidt’s employees had voted unanimously to start their own credit union. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com
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ST. LOUIS - Consumers looking to join a credit union in Missouri can now find it through “Find A Credit Union,” the Web-based credit union search program. The Missouri Credit Union Association (MCUA) has officially enabled the link from its website to www.findacreditunion.com. MCUA teamed up with Find A Credit Union to help Missouri credit unions reach more potential members. Formerly known as “CU Match Up,” it links potential credit union members with CUs they may be eligible to join. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com
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ROCKVILLE, Md. - American Executive magazine recently recognized MCT Federal Credit Union in its magazine as a company undergoing enormous growth and organizational improvement.
January 4
