Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

CU System Archive

CU System

CU System briefs (02/24/2014)

 Permanent link
  • WASHINGTON (2/24/14)--A prominent race in April organized by USA Track & Field will be sponsored by Credit Union Miracle Day and the Credit Union National Association. The Men's and Women's 10 Mile Championships, held at the Credit Union Cherry Blossom Ten Mile Run in Washington, will be branded as being sponsored by "America's Credit Unions." The 10-mile fun run, which last year featured 15,000 runners, including almost 800 Congressional staffers, snakes around recognizable memorials in downtown Washington. At the Women's Championship last year, Janet Bawcom set a national record, finishing the 10-mile course in 53 minutes and 28 seconds. Since sponsoring races in 2002, Credit Union Miracle Day has given more than $6 million to Children's Miracle Network Hospitals. ...
  • ALBANY, N.Y. (2/24/14)--William "Bill" Johnson, a five-decade veteran of the credit union industry and resident of Onondaga Hill, N.Y., died Feb. 19 (The Point Feb. 21). He was 83. A former District 2 board director for the Credit Union National Association, Johnson served as CEO/president of Empire Tel-Com FCU for more than 20 years. He volunteered with it before and after the 2007 merger with Power FCU that created Empower FCU, now a $1.2 billion-asset credit union in Syracuse. He also was on the board of the Credit Union Association of New York from 1980 until 1999, serving as chairman from 1991 until 1993. "Bill Johnson was a tremendous leader in the New York credit union community, and he made a lasting impact on all who knew him," said William Mellin, association president/CEO. Johnson helped create statewide credit union mortgage, ATM and shared branching organizations. He also served as director and chairman of Empire Corporate FCU. In 2001, he was inducted into the New York Credit Union Hall of Fame. ...

GAC hashtags can amplify CU message

 Permanent link
WASHINGTON (2/24/14)--With a record attendance of more than 4,400 credit union advocates attending the Credit Union National Association's Governmental Affairs Conference today through Feb. 27, the credit union system's collective eye will be turned toward Washington, D.C. CUNA GAC attendees have an opportunity to further amplify their voices by participating in the credit union social media conversation.
 
The GAC conversation will take place across all CUNA social media platforms, said Amaia Kirtland, CUNA's social and digital media manager. During the conference CUNA will host a social media hub on the convention center's L Street bridge, where attendees can meet and connect.
 
CUNA employees also will help attendees set up and use CUNA GAC and CUNA Advocacy apps, which will help them make the most of the GAC experience, including following the social conversation.
 
Attendees should follow these handles:
  • @CUNA
  • @CUNAAdvocacy
  • @NewsNowLiveWire
  • @CUMagazine
  • @aSmarterChoice
And they should use and follow Twitter hashtags:
  • #CUNAGAC
  • #UniteforGood
  • #DontTaxMyCU
  • #CrashtheGAC14
The hashtags will work on Goolge +, Pinterest, Instagram, Vine, LinkedIn and Facebook.
 
"GAC participants--and credit union advocates everywhere--are encouraged to engage and share content as well as post and share their original content," said Kirtland. "Use of the hashtag facilitates everyone's ability to participate, even those who cannot be in attendance, and increases the overall impact of our credit union message."
 
Kirtland also encouraged attendees to post photos and videos to make their posts more engaging. For example, she suggested that when advocates visit their lawmakers on Capitol Hill, which is a key component of the CUNA GAC experience, they should feel free to ask for a photo and tag the elected official in the post with the hashtag #DontTaxMyCU. 
 
Credit union advocates should be respectful of political differences, she advised. "We're really aiming to share the positive credit union story here," she added.
 
CUNA will also post Unite For Good visual storyboards and banner throughout the conference where advocates can take pictures and then explain how their credit union is taking action on Unite For Good--the CUNA vision announced at last year's GAC in which "Americans Choose Credit Unions As Their Best Financial Partner."

Ohio league elects executive officers

 Permanent link
COLUMBUS, Ohio (2/24/14)--The Ohio Credit Union League announced the results of officer elections for its board and several affiliated organization boards.
 
Board officers include:
  • Chair--Barry Shaner, Directions CU, Sylvania;
  • Vice chair--Stan Barnes, CSE FCU, Canton;
  • Treasurer--Christine Blake,  Cardinal Community CU, Mentor; and
  • Secretary--Scott Hicks, Clyde-Findlay Area CU, Clyde.
 OCUL Services Corp. board officers include:
  • Chair--Tamlyn Straight-Schervish, Unity Catholic FCU, Parma;
  • Vice chair--Vidya Iyengar, Marion (Ohio) Community CU;
  • Treasurer--Blake; and
  • Secretary--Brent Binkley, School Employees Lorain County CU, Elyria.
 Ohio Credit Union Legislative Action Committee and Ohio Credit Union League Political Action Committee boards of trustees officers include:
  • Chair--Gary Soukenik, Seven Seventeen CU, Warren;
  • Vice chair--Mike Kurish, Associated School ECU, Youngstown;
  • Treasurer--Catherine Herring, Communicating Arts CU, Cincinnati; and
  • Secretary--Karen Reams, Millstream Area CU, Findlay.
 Ohio Credit Union Foundation board officers include:
  • Chair--Barnes;
  • Vice chair--Sonja Delaney, Midwest Community FCU, Defiance;
  • Treasurer--Jack Wilster, Seven Seventeen CU; and
  • Secretary--Sandy McCormick, Telhio CU, Columbus.

Coopera, CUNA announce Morrow Hispanic growth fund

 Permanent link
DES MOINES, Iowa (2/24/14)--Hispanic market solutions company Coopera, in partnership with the Credit Union National Association (CUNA), has developed a grant fund in honor of the late Warren Morrow, credit union advocate and Coopera founder.
 
The Warren Morrow Hispanic Growth Fund, established through the National Credit Union Foundation, will help credit unions with less than $500 million in assets start or enhance a Hispanic growth program.
 
"Warren was a visionary in the credit union industry who saw immense potential for growth for those cooperatives that focused strategically on serving the largest, fastest-growing and youngest community in the United States," said Miriam De Dios, Coopera CEO. "To carry on his legacy, this fund supports what Warren believed deeply--that credit unions were the avenue to providing dignified financial services to Hispanics," she added.
 
"I can't think of a better way to celebrate Warren than by carrying forward his vision," commented Jill Tomalin, CUNA executive vice president and chief operating officer.
 
To kick off contributions to the fund, Coopera will donate $1,000 as a part of its participation in the "Make a Difference" project hosted from its booth (#329) at the CUNA Governmental Affairs Conference through Thursday in Washington, D.C.
 
To donate, use the link.
 
A celebration will take place at the 2014 CUNA Community Credit Union & Growth Conference, scheduled for Nov. 3-6 in Las Vegas.

Inform legislators about CU difference before issues arise, says Kahley

 Permanent link
LITTLE ROCK, Ark. (2/24/14)--Even if there aren't pressing issues at the state legislative level, credit unions need to engage with lawmakers. "We need to get to know them when we don't need anything from them," advised Reta Kahley, president of the Arkansas Credit Union Association, a division of the Cornerstone Credit Union League.
 
"That way when an issue does arise, and we need their support--we have already established that relationship," Kahley told the Cornerstone Credit Union League.
 
About 20 delegates represented more than a dozen credit unions during the Feb. 12 legislative lunch at the Arkansas capital. About 100 lawmakers attended the informal gathering. "Our lawmakers appreciate that," she said, adding, "In fact, they hold our format as the standard for other associations to emulate."
Because this session is centered on the budget, there were no credit union issues in play. Instead, the conversations focused on how credit unions make a difference in their members' lives and the positive impact they have on communities, Kahley added.
 
One state legislator did ask how the Dodd-Frank act is affecting credit unions, and Kahley offered up the league as a resource if he wanted more information.
 
"I'm certain that our lawmakers appreciate our credit unions for being there and being open to conversation," she said. "I, for one, am very appreciative that our credit unions recognize the value in engaging with legislators and sharing our story.
 
"If we want to influence legislation, we have to have a presence," Kahley said.
 
In Washington, D.C., this week, the presence is huge because thousands of credit union advocates at attending the Credit Union National Association's Governmental Affairs Conference--building relationships with representatives and senators.

Fortney retiring from NASCUS after 21 years

 Permanent link
ARLINGTON, Va. (2/24/14)--After more than 21 years with the National Association of State Credit Union Supervisors (NASCUS)--11 as president/CEO--Mary Martha Fortney is retiring.
 
She joined NASCUS in 1993 as director of accreditation and communications, where she was responsible for the NASCUS state accreditation program and for NASCUS written communications.
 
During Fortney's tenure, NASCUS became a known voice in Washington, D.C. The association now routinely works with the other financial regulators and policymakers to reshape regulation.
 
Fortney was an early advocate for responsible charter advancements in secondary capital, expanded and diversified fields of membership, business lending, protecting credit union unrelated business tax exemption (UBIT), and protecting state authority. 
 
"NASCUS, state regulators and state credit union officials are appreciative of Mary Martha's tireless efforts on behalf of the dual charter during her tenure.  She has led NASCUS through an important period of credit union history and positioned NASCUS to continue to evolve with the industry as we look forward to the future," said Catherine Tierney, advisory council chair.
 
Fortney's career will be honored at the 2014 NASCUS Annual State System Summit Sept. 10-12 in Nashville, Tenn.
 
The NASCUS board and advisory council have started the search process for the next CEO, who is expected to be announced during the fourth quarter of this year.

Autos drive Ark. loans past savings balances

 Permanent link
FARMERS BRANCH, Texas (2/24/14)--A strong auto lending market, driven by a revitalized economy, highlighted Arkansas credit union financial results in 2013, the Cornerstone Credit Union League reported Friday.
 
In a sign that Arkansas's economy continues to improve, credit union loan growth in the state outpaced savings gains by a wide margin in 2013. Overall, credit union loan portfolios grew by 6.8% in the 12 months ending December 2013, while savings balances increased by 3% in the year.
 
The 6.8% full-year loan portfolio rise was the largest percentage gain Arkansas credit unions experienced since 2009. It also represented the first time since 2008 that annual credit union loan increases exceeded savings increases in the state. 
 
Automobile lending continued to drive overall loan results in 2013 as improving labor markets and pent-up demand motivated more consumers to purchase vehichles.  The surge in borrowing activity in Arkansas was reflected in a 24.4% full-year jump in used auto loans and a 4.8% increase in new vehicle loan balances in the year.
 
Credit cards and other unsecured loan balances increased by 4% and 2.6% respectively. The average rate on a platinum credit card at Arkansas credit unions was 9.12%---that is 1.81% lower than the 10.93% average at Arkansas banks.
 
Arkansas credit unions continued to offer better rates on loan products than state banks. The current rate on a five-year new auto loan at the state's credit unions now averages 2.15 percentage points lower than the comparable rate at the state's banking institutions according to Informa Research Services.  On a five-year, $30,000 new car loan the credit union advantage saves the average Arkansas consumer over $344 per year--or more than $1,720 over the life of the loan.
 
Total membership in the state's credit unions jumped by 1.4% in 2013---the fastest increase since 2010. It also is more than four times higher than the 0.32% rate of state population growth in the period according to the U.S. Census Bureau.

CSS calendar program benefits CMN Hospitals

 Permanent link
MADISON, Wis. (2/24/2014)--Credit unions continue to show their commitment to Children's Miracle Network (CMN) Hospitals by purchasing calendars branded with Credit Unions for Kids.
 
In 2013, the calendar program--administered by CUNA Strategic Services Inc. (CSS)-resulted in sales of 25,600 units and $2,000 in credit union donations. More than 120,000 of the calendars have been sold since 2010, with more than $10,000 in donations going to the Credit Unions for Kids program.
 
When credit unions purchase the specially branded calendars, 10% of the purchase price is donated to CMN Hospitals through the Credit Unions for Kids program. Credit union donations serve children in their geographic areas.
 
In addition, CSS donates 10% of the net proceeds from the sale of all Credit Unions for Kids branded calendars.
 
CMN Hospitals in North Dakota will get an extra benefit this year, thanks to a commitment from CSS to donate a percentage of its net proceeds from sales of the calendars. Postal Family FCU, a $19 million-asset credit union in Fargo, N.D., was selected randomly, and CSS will make a $575 donation on behalf of Postal Family FCU.
 
The calendar program raises funds and awareness about the work being done at 170 children's hospitals throughout North America.
 
"We're extremely proud of our partnership with CUNA Strategic Services and look forward to working together for years to come on behalf of the kids served by our CMN Hospitals," said Joe Dearborn, senior director for CMN Hospitals. "It is through the support of programs like the CSS calendar program that credit unions have established themselves as one of the premier partners of CMN Hospitals."
 
Credit Unions for Kids has raised more than $110 million for CMN Hospitals since its inception in 1996.