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TNB Card Services, Dallas, named John McMenamin vice president, regional sales executive.
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* A 60-year-old grandmother in Everett, Wash., grabbed the arm of a fleeing robbery suspect when she saw him handcuffed and running toward her in his underwear.
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ONE: Disaster Recovery. With credit unions in the U.S. still recovering from 2004's four hurricanes and Sri Lanka's CUs still cleaning up from the devastating tsunami, Hurricane Katrina roars ashore in the gulf destroying CUs and displacing thousands of members, many of whom have never returned. In New Orleans, some CU staff began living in branches. CUNA Mutual estimated the cost of Hurricanes Katrina, Rita and Wilma was $27.5 million.
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ONE: The credit union-to-bank conversion tide is stemmed as more members step up to oppose and even stop conversions (see related story, this page).
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WEST PALM BEACH, Fla. - Corporates have become a lot more than the "credit unions' credit union." For 2007, corporate CUs say they have more options and products than ever to assist credit unions when it comes to growing their options. Their strategies and niches differ, according to a Credit Union Journal survey of corporates across the country, but the goals are the same: help credit unions to achieve greater efficiencies, earn greater returns and take a little pressure off that margin squeeze. When asked how they can help their member CUs, corporates listed everything from ALM and balance sheet modeling to ACH and single-tier pricing on overnights. Inside this issue corporates outline some of their plans for 2007, and how CUs can take better advantage of what's being made available, page 10.
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WASHINGTON - It isn't just the Credit Union Journal marking a 10th anniversary. This newspaper started landing on the desks of credit union CEOs not long after a former congressman was first sliding behind the CEO's desk at CUNA.
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DEARBORN, Mich. - DFCU Financial's Supervisory Committee has been asked by the NCUA to investigate two members' complaint alleging bylaw and election procedure violations related to the upcoming board elections.
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Credit unions around the country realize that one of the most efficient and effective ways to grow their loan portfolio and potentially their membership is to build a successful indirect lending program. Although such programs offer tremendous promise to budding CUs, getting to the pot of gold at the end of the rainbow can be harder than it looks.
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Grow or die.
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WASHINGTON - In the 10 years since credit unions mobilized in a nationwide campaign to pass HR 1151, the CU Membership Access Act, the perception of credit unions on Capitol Hill has changed a lot.
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* John Deere asks co. credit unions to cease using its name in theirs * Santa Barbara CU installs solar power, expects it to provide 60% of power * Credit unions across the country receive a postcard from a person seeking to make a deposit. Card was sent by Mark Dern, whose Dern Capital Management uses the same general counsel as Florida Bankers Assn. * Credit unions look to capitalize on popularity of "Extreme Makeover: Home Edition" program rollout makeover (home equity) offers of their own, along with related giveaways. Meanwhile, The Credit Union Journal invites credit unions to send photos of their offices in dire need of an Extreme Makevoer, and credit unions respond with workspaces typically limited to the incarcerated * Orange County CU creates "chief political officer." * Some unionized workers at CUNA Mutual picket at the home of Loretta Burd, chair of CMG, in Indiana, along with the homes of other board members * 2004 was not a good year for CUs on TV. On an episode of "The Simpsons," Bart receives as a gift a coffee mug emblazoned, "Premiere Credit Union." Lamented Bart, "Man, this is the worst birthday ever." A TV commercial from Mike's Hard Lemonade shows two buddies robbing a CU * The sale of PULSE for $311 million meant big payouts for some of the 1,600 CUs that owned a piece of the network. * Eugene Sukie, 79, set a new record when he walked into Integrity CU, Barberton, Ohio, with one-million pennies to be counted by a CoinStar machine * The Pennsylvania league introduces a check-cashing services program in conjunction with the Filene Research Institute and Certegy * A breakout session during the CUNA Future Forum in Hawaii turned feisty when session leader George Towle said a board succession plan is needed and board members in the audience disagreed. "You can be just as stale at 21 as you can at 81," said one person * State Employees CU, North Carolina, unveils plans to underwrite a scholarship in each of the state's high schools
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WASHINGTON - The new Democratic-controlled Congress last week began a series of hearings on the credit card industry that are expected to result in legislation to rein in credit card issuers, increase consumer disclosures and possibly regulate the multi-billion market for interchange fees.
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WASHINGTON - Army officers joined medical personnel and family members of stricken soldiers last week to dedicate a new Oncology Palliative Care suite at Walter Reed Army Medical Center, which was built by the Pentagon Federal Credit Union Foundation.
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ARLINGTON, Va. - Just days before TJX, parent company of discount retailers TJMaxx and Marshalls, reported a massive data breach (see related story this issue), NAFCU released data showing data security breaches continue to be a growing problem for credit unions and their members.
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NEW CASTLE, Del. - There's a serious numbers game being played at www.dcul.org, and you can get in on it.
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INDIANAPOLIS — Credit unions across the country are gearing up for Super Bowl XLI's Midwestern battle between the The Indianapolis Colts and the Chicago Bears.
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Rick Craig, President/CEO of America First Credit Union in Ogden, Utah, webcasts a greeting and message of support to deployed members of his credit union during Operation Best Wishes. Tom Connors, Chairman of the Board looks on. The national tour visited America First Credit Union on January 22 and 23, before crossing America in early February to visit North Carolina and Marine Federal Credit Union and Fort Bragg Federal Credit Union. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com
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