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On-site advanced lending school is revamped

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MADISON, Wis. (3/31/08)--The latest lending practices and trends, and how to acquire advanced skills to implement a competitive consumer lending program will be taught during the recently updated advanced session of the Credit Union National Association’s (CUNA) Consumer Lending School in May. “Consumer Lending School: Advanced” takes place May 5-8 in San Francisco, running concurrently with “Consumer Lending School: Foundations.” Advanced teaches the basics and beyond, and provides an ongoing educational opportunity for credit union lending staff and managers. The school’s new topics cover: emerging technologies to boost loan volume, mobile marketing, communicating promotions, supervisory skills, generational management and disaster planning. In Foundations, participants learn about consumer-lending basics, compliance and regulation issues, service-based selling, identity theft and fraud, and tools to help build long-term lending relationships with members. Other CUNA on-site offerings taking place in May are:
* “Bank Secrecy Act Conference,” taking place May 18-21 in Washington, D.C. The conference, offered jointly by CUNA and the National Association of State Credit Union Supervisors (NASCUS), will bring together compliance officers, examiners, regulators, and industry experts for discussions on operational compliance, trends, and overviews of common mistakes. New topics include: developing an organization-wide Bank Secrecy Act (BSA) risk assessment, importance of (BSA) due diligence prior to a merger, shared- branching considerations, automated clearinghouse and wire issues, and the potential problems of alternative payment methods. * “CU Finance for Non-Financial Managers and Volunteers” scheduled May 4-7 in Denver, helps volunteers and professionals without a background in accounting or finance to better understand their credit union’s numbers. Students will start with the basics of accounting and transition to financial statements; asset-liability management; and rates, risk and return. * During the “Disaster Preparedness and Recovery Conference,” May 19-21 in San Francisco, security officers, managers, internal auditors, and volunteers can learn to prepare for and handle any potential credit union disaster--large or small. In addition to providing an understanding of business continuity planning, the conference also will explore storm tracking, working with local government, business impact analysis, and communicating with key publics. Participants will become part of a recovery team to work on a business continuity challenge as practice making critical decisions and working with an emergency operations center. * Orlando Magic co-founder Pat Williams will offer his techniques for increasing productivity in a leadership capacity during his keynote address at the CUNA Chief Financial Officers (CFO) Council Conference and Roundtable,” May 18-21, in Fort Myers, Fla. Some additional topics include: loan and deposit pricing, merger accounting, conflict resolution, indirect lending, call reports, software innovations, community involvement, and purchasing insurance coverage.
For more information, use the links.

Open Solutions partners with Mortgagebot

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MEQUON, Wis. and GLASTONBURY, Conn. (3/31/08)--Mortgagebot LLC and Open Solutions have announced a strategic referral partnership. Under the terms of the new agreement, Glastonbury, Conn.-based Open Solutions will recommend Mequon, Wis.-based Mortgagebot’s consumer-direct, Web-based loan origination systems to its clients and prospects (TMCnet March 27). Open Solutions is a provider of integrated enabling technologies for financial service providers in the U.S., Canada and international markets. The partnership provides Open Solutions’ clients with another option to choose from when looking for Web-based software tools that can be used to access the growing online mortgage channel. Surveys show that in some markets, as many as 25% of all lenders are now originating more than half of their loan volume online.

United Technologies gains 3.5 of Diebolds shares

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HARTFORD, Conn., and NORTH CANTON, Ohio (3/31/08)--The company that was rejected in its unsolicited takeover proposal of ATM manufacturer Diebold Inc. says it has acquired 3.5% of Diebold's shares and plans to gather more. United Technologies Corp. (UTC), based in Connecticut, announced Thursday it holds 2.28 million shares of the outstanding common shares of Diebold and believes it is Diebold's sixth-largest shareowner. At the time UTC approached Diebold with its takeover proposal, UTC owned 1.6 million of Diebold's shares. Earlier this month UTC proposed a $40 per share cash offer for all outstanding shares of Diebold, a 66% premium to Diebold's trading price. Diebold's directors rejected the proposal, but UTC remains committed to the offer, according to Jim Geisler, vice president, finance at UTC. Diebold immediately responded with its own press release. "The announcement does not change Diebold's belief that UTC's $40 per share offer significantly undervalues the company and does not reflect significant progress against current strategic initiatives and Diebold's previously disclosed $100 million cost reduction program," Diebold said. UTC's assertions that the New York Stock Exchange (NYSE) has notified Diebold it is at risk of delisting due to the failure to file timely financial statements are "highly misleading," said Diebold. "Diebold does not believe it faces any threat of delisting until at least Sept. 17, 2008, at which time the NYSE, at its discretion, can grant an extension for an additional six months." Diebold anticipates its financial review will be completed by the end of second quarter, and it will make all appropriate filings as soon as possible thereafter, said the release. Use the links for more information.