CUiNSIGHT.com Welcomes a New Premier Sponsor
May 27, 2009 – Randall C. Smith, Managing Editor
We would like to welcome our newest premier sponsor, CU Conferences, to the CUiNSIGHT.com community.
Now celebrating their 30th year, CU Conferences has led credit union management education and professional development. Each year, thousands of CEOs, Directors, Executives, Committee Members, and management staff from credit unions across the country and around the globe participate in CU Conference programs to learn about the latest asset management, marketing, operations, staff development, technology tools and to get the most targeted credit union management training available.
To learn more and support CUiNSIGHT.com’s newest partner follow the link below.
CU Conferences
Wednesday, May 27, 2009
Tuesday, May 26, 2009
New NCUA Letter to Credit Unions: 09-CU-10
New NCUA Letter to Credit Unions: 09-CU-10
May 26, 2009 – Randall C. Smith, Managing Editor
The NCUA released a new letter to credit unions. The purpose of the letter is to respond to the many inquiries from members concerning their “paid in capital” (PIC) and “membership capital” (MCA) accounts at the corporates, and how those accounts are applied to absorb losses that U.S. Central and WesCorp are each required to recognize.
View full letter at CUiNSIGHT.com
May 26, 2009 – Randall C. Smith, Managing Editor
The NCUA released a new letter to credit unions. The purpose of the letter is to respond to the many inquiries from members concerning their “paid in capital” (PIC) and “membership capital” (MCA) accounts at the corporates, and how those accounts are applied to absorb losses that U.S. Central and WesCorp are each required to recognize.
View full letter at CUiNSIGHT.com
Tuesday, May 19, 2009
New White Paper: A Guide to Enterprise Content Management
New White Paper: A Guide to Enterprise Content Management
April 19, 2009 – White paper submitted by OnBase a Hyland Software solution
The potential of Enterprise Content Management (ECM) to transform your organization from the slow and error-prone paper shuffling of today into tomorrow’s environment of highly-efficient and accurate product servicing processes is tremendous. ECM is about more than signature cards and promissory notes; there are many other areas in your organization that can benefit from an ECM investment. If your financial institution has not installed an ECM solution or if you have only minimally exploited the potential, investing resources to take advantage of the efficiency opportunities will pay big dividends for you and your customers/members. This white paper will help you explore all of the benefits of ECM within a credit union.
Read full case study on the Technology page of CUiNSIGHT.com.
April 19, 2009 – White paper submitted by OnBase a Hyland Software solution
The potential of Enterprise Content Management (ECM) to transform your organization from the slow and error-prone paper shuffling of today into tomorrow’s environment of highly-efficient and accurate product servicing processes is tremendous. ECM is about more than signature cards and promissory notes; there are many other areas in your organization that can benefit from an ECM investment. If your financial institution has not installed an ECM solution or if you have only minimally exploited the potential, investing resources to take advantage of the efficiency opportunities will pay big dividends for you and your customers/members. This white paper will help you explore all of the benefits of ECM within a credit union.
Read full case study on the Technology page of CUiNSIGHT.com.
Monday, May 18, 2009
Chief Financial FCU Servicing Rouge Employees Credit Union Members
Chief Financial FCU Servicing Rouge Employees Credit Union Members
May 18, 2009 – Randall C. Smith, Managing Editor
The NCUA was appointed the liquidating agent of Rouge Employees Credit Union on Friday by the Michigan Office of Financial & Insurance Regulate. Today Chief Financial Federal Credit Union purchased and assumed Rouge Employees Credit Union assets, loans and shares. This will allow Rouge’s members to receive uninterrupted service.
Rouge had 6,200 members and $23 Million in assets that will be added to Chief Financial FCU’s 13,480 members and almost $83 Million in assets. The credit union will continue serving members from employee and associational groups, along with an underserved area encompassing portions of Dearborn Heights, Inkster, Romulus, Taylor, Wayne, and Westland, Michigan. Chief Financial FCU has three branch offices serving members throughout its service area. The credit union also offers online transaction service.
NCUA Media Release
May 18, 2009 – Randall C. Smith, Managing Editor
The NCUA was appointed the liquidating agent of Rouge Employees Credit Union on Friday by the Michigan Office of Financial & Insurance Regulate. Today Chief Financial Federal Credit Union purchased and assumed Rouge Employees Credit Union assets, loans and shares. This will allow Rouge’s members to receive uninterrupted service.
Rouge had 6,200 members and $23 Million in assets that will be added to Chief Financial FCU’s 13,480 members and almost $83 Million in assets. The credit union will continue serving members from employee and associational groups, along with an underserved area encompassing portions of Dearborn Heights, Inkster, Romulus, Taylor, Wayne, and Westland, Michigan. Chief Financial FCU has three branch offices serving members throughout its service area. The credit union also offers online transaction service.
NCUA Media Release
Monday, May 11, 2009
Credit Union Cooperation Saves Member in Shanghai
Credit Union Cooperation Saves Member in Shanghai
May 11, 2009 - Shannon Perry – Group Health Credit Union
What do you do if you’re stranded in Shanghai at midnight with no money and no Mandarin? Well, if you’re a credit union member, you have an entire network of help, just a phone call away.
Difficulties with his debit card had left Randy P. dangerously low on cash—too low to take a taxi to the nearest Western Union, had he even known where that was. Feeling a little desperate, he phoned Dow Louisiana Federal Credit Union, where he is a member, to see if the necessary funds could be wired from his account to his hotel.
Read full article on CUiNSIGHT.com
May 11, 2009 - Shannon Perry – Group Health Credit Union
What do you do if you’re stranded in Shanghai at midnight with no money and no Mandarin? Well, if you’re a credit union member, you have an entire network of help, just a phone call away.
Difficulties with his debit card had left Randy P. dangerously low on cash—too low to take a taxi to the nearest Western Union, had he even known where that was. Feeling a little desperate, he phoned Dow Louisiana Federal Credit Union, where he is a member, to see if the necessary funds could be wired from his account to his hotel.
Read full article on CUiNSIGHT.com
Thursday, May 7, 2009
Senate Passed Bill Funding Corporate Bailout
Senate Passed Bill Funding Corporate Bailout
May 7, 2009 – Randall C. Smith, Managing Editor
With a vote of 91-5 the Senate overwhelmingly passed the bill that included the corporate stabilization fund. The bill also extended share insurance coverage on accounts up to $250,000 through 2013. This gives the NCUA $6 billion in borrowing authority and $30 billion in emergency authority.
The corporate stabilization fund is financed from a line of credit through the Treasury Department and must be paid back over the next seven years. Natural persons credit unions will pay an assessment between 8 and 20 basis points per year over the next 7 years.
The bill now moves to the House where a committee will work out the differences between the two bills.
NCUA Statement
May 7, 2009 – Randall C. Smith, Managing Editor
With a vote of 91-5 the Senate overwhelmingly passed the bill that included the corporate stabilization fund. The bill also extended share insurance coverage on accounts up to $250,000 through 2013. This gives the NCUA $6 billion in borrowing authority and $30 billion in emergency authority.
The corporate stabilization fund is financed from a line of credit through the Treasury Department and must be paid back over the next seven years. Natural persons credit unions will pay an assessment between 8 and 20 basis points per year over the next 7 years.
The bill now moves to the House where a committee will work out the differences between the two bills.
NCUA Statement
Wednesday, May 6, 2009
NCUA Chairman Encourages Credit Unions to be Optimistic
NCUA Chairman Encourages Credit Unions to be Optimistic
May 6, 2009 – Randall C. Smith, Managing Editor
In remarkets to practically 150 credit union officials at the Illinois Credit Union System’s Governmental Affairs and Legislative Day in Springfield, NCUA Chairman Michael E. Fryzel stated, “Looking ahead, I encourage credit unions to be optimistic about our shared future. I have repeatedly expressed my intention to take whatever steps necessary to preserve the safety and soundness of the credit union industry.”
The most immediate priority at the NCUA was Congressional approval of the Corporate Stabilization Plan. The final vote on the corporate credit union bailout bill should happen this morning in the senate. The NCUA is also looking to the future and wants dialogue with credit unions on how to improve the corporate system.
Read Full NCUA Media Release
May 6, 2009 – Randall C. Smith, Managing Editor
In remarkets to practically 150 credit union officials at the Illinois Credit Union System’s Governmental Affairs and Legislative Day in Springfield, NCUA Chairman Michael E. Fryzel stated, “Looking ahead, I encourage credit unions to be optimistic about our shared future. I have repeatedly expressed my intention to take whatever steps necessary to preserve the safety and soundness of the credit union industry.”
The most immediate priority at the NCUA was Congressional approval of the Corporate Stabilization Plan. The final vote on the corporate credit union bailout bill should happen this morning in the senate. The NCUA is also looking to the future and wants dialogue with credit unions on how to improve the corporate system.
Read Full NCUA Media Release
Friday, May 1, 2009
NCUF offers New Grants in Tough Times for CU Innovations
NCUF offers New Grants in Tough Times for CU Innovations
May 1, 2009 – Randall C. Smith, Managing Editor
The National Credit Union Foundation is excepting applications for Innovation Grants between now and June 30th. To be eligible you must be a credit union, CUSO, state credit union association, state credit union foundation, or any organization owned or controlled by a credit union.
The grants are aligned with the NCUF’s REAL Solutions® program but participation in REAL Solutions is not required. The five service areas are education, transaction services, savings, credit, and homeownership.
NCUF Deputy Director Steve Bosack stated, “Based on what we’re hearing from credit unions that want to apply for grants this year, their needs are greater than ever.” For more information on the grant process follow the link below.
CU Innovation Grant Link
May 1, 2009 – Randall C. Smith, Managing Editor
The National Credit Union Foundation is excepting applications for Innovation Grants between now and June 30th. To be eligible you must be a credit union, CUSO, state credit union association, state credit union foundation, or any organization owned or controlled by a credit union.
The grants are aligned with the NCUF’s REAL Solutions® program but participation in REAL Solutions is not required. The five service areas are education, transaction services, savings, credit, and homeownership.
NCUF Deputy Director Steve Bosack stated, “Based on what we’re hearing from credit unions that want to apply for grants this year, their needs are greater than ever.” For more information on the grant process follow the link below.
CU Innovation Grant Link
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