Credit Union

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  • CU’s Pop-Up Survey Increases Debit Card Use

    CUNA Marketing & Business Development Council: Last 5 News Articles
    25 Jan 2012 | 12:00 am
    1st Advantage Federal Credit Union, Yorktown, Va., had a problem: Almost no one was clicking on the banner ads it displayed in online banking sessions to cross-sell products.

  • The Long and Winding (Paperless) Road to Workflow Improvement

    CUNA Technology Council: Last 5 News Articles
    23 Jan 2012 | 12:00 am
    Workflows are the satisfying conclusion to a long journey that began with a paperless project at Alliant Credit Union in Chicago, said Heather Lally, senior manager, business process improvement.

  • Optimism of Mid-Market Execs Fading

    CUNA CFO Council: Last 5 News Articles
    25 Jan 2012 | 12:00 am
    In an April 2011 survey, mid-market company executives told Deloitte researchers they were cautiously optimistic about the economy. Since then, expectations have gone from modest to minimal.

  • Tell Employees About Their Benefits Early & Often

    CUNA HR Training & Development Council: Last 5 News Articles
    25 Jan 2012 | 12:00 am
    Thousands of employers spend countless hours each fall developing benefits communications to their employees before open enrollment. Despite their best efforts, however, it appears many employees still don’t understand their benefits, reports Workforce.co

  • Housing, Credit Face a Long Recovery

    CUNA Lending Council: Last 5 News Articles
    25 Jan 2012 | 12:00 am
    Risk-management professionals hold a decidedly pessimistic outlook on the housing market and consumer credit, according to a survey conducted for analytics firm FICO by the non-profit Professional Risk Managers’ International Association (PRMIA).
 
 
 
 
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    CUNA Operations Sales & Service Council: Last 5 News Articles

  • Is Your CU Seizing the Day?

    25 Jan 2012 | 12:00 am
    The Durbin Amendment has given financial institutions with under $10 billion in assets a remarkable opportunity to grow, according to a recent column in BAI Banking Strategies. Its’ all part of the scenario that, for credit unions, plays out around Bank T

  • Role Playing Reaps Positive Results

    23 Jan 2012 | 12:00 am
    You say the word “role-play” and the staff cringes. Sounds familiar? Role-playing often falls into disfavor with employees because the trainer doesn’t ensure that “realism rules.”

  • Predictive Modeling and Workers Comp

    17 Jan 2012 | 12:00 am
    One-fifth of workers compensation claims account for about four-fifths of total claim costs. If a company could only identify these problem claims in advance, it could greatly reduce its workers comp expenses.

  • Debit Rewards Programs

    9 Jan 2012 | 12:00 am
    Rewards programs have ebbed and flowed in their vitality and promise.

  • Improved Branch Efficiencies Increase Relationships

    4 Jan 2012 | 12:00 am
    Highly efficient branches using teller capture are saving the front-line team 80% of their daily keystrokes and significantly shortening end-of-day activities.
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    REAL Solutions - Home

  • Illinois Brings Back Real Solutions FiCEP Program

    Christopher Morris
    25 Jan 2012 | 4:00 am
    From CUNA News Now – The REAL Solutions Enhanced Financial Counseling Certification Program (FiCEP) has been brought back to Illinois for a second year with two modifications to allow as many Illinois credit unions as possible to participate in the program, said the Illinois Credit Union League. The enhancements include a reduction in cost and an increase in number and locations of proctored test sites. The Illinois Credit Union Foundation board will cover the cost of the REAL Solutions enhancement, so the only cost to Illinois credit unions is the purchase of FiCEP books and exams from…

  • Fall 2012 Development Education Training Registration Opens

    Christopher Morris
    18 Jan 2012 | 11:00 pm
    Registration is now open for the Fall 2012 Credit Union Development Education (DE) training class taking place September 6-13 in Madison, Wis. Attendees of the six-day total immersion experience will learn about credit unions’ social responsibility and domestic and international development through interactive education and professional networking. After attending the last training in April of 2011, Amy McLard, Vice President of Federal Legislative Affairs at the Missouri Credit Union Association in St. Louis, Mo. said, “DE training allowed me to meet with people from all across the…

  • MCUCD Equipping CUs in Montana with Financial Counseling Knowledge

    Christopher Morris
    16 Jan 2012 | 11:00 pm
    With the help of Montana Credit Unions for Community Development (MCUCD), credit unions in the state have embarked on a new program that will give their members access to both certified financial counselors and financial coaches. “We’re really excited by this program. We believe it will help credit unions make an incredible difference in their members’ lives,” said Karen Smith, MCUCD Director of Outreach Services. “Knowing what makes good financial sense is the first step, but the next step is applying that knowledge – discovering and making the actual changes you need in your…

  • In-Depth Report Available - Credit Unions: Focused on Financial Capability Across the Nation

    Christopher Morris
    8 Jan 2012 | 11:00 pm
    For the first time, credit unions now have quantitative data to illustrate how the credit union movement is making a difference through financial education and counseling. The National Credit Union Foundation (NCUF) through its REAL Solutions™ program just released a free online report entitled “Credit Unions: Focused on Financial Capability Across the Nation,” which is the result of an almost yearlong data collection effort by NCUF with the help of state credit union leagues. In an effort to help the credit union community understand the depth and breadth of existing programs, NCUF and…

  • What Credit Unions Can Learn From…Supersize Meals?

    Christopher Morris
    22 Dec 2011 | 4:00 am
    I just posted the following over on the CU Water Cooler Discussion Blog. Hope you find it interesting: According to an interesting new study, low-income consumers are more likely to order bigger portions of food (such as supersize meals) as a way to boost their status. It makes sense right? Typically people buy bigger homes, bigger cars, bigger TVs, etc. because bigger is perceived as better. Is there an opportunity here for credit unions? Credit unions were born out of serving the unbanked and those of modest means. And credit unions are still serving those who need our help the most.
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    WOCCU | News Releases

  • Register Online Now for the World Credit Union Conference

    26 Jan 2012 | 12:00 am
    Register Online Now for the World Credit Union ConferenceGdańsk, Poland, to host annual World Council of Credit Unions eventRead MoreContact: Mike MuckianOrganization: World Council of Credit UnionsE-mail: mmuckian@woccu.org

  • World Council Seeks Next Generation of Credit Union Leaders

    25 Jan 2012 | 12:00 am
    World Council Seeks Next Generation of Credit Union LeadersIt’s time to submit 2012 WYCUP nominations World Council Chair Manuel Rabines, Peru (far left); and Director and Awards Committee Chair Ron Hance, USA (far right); presented the 2011 WYCUP scholarships in Glasgow, Scotland, to recipents (second from left) Edel McKenna, Ireland; Michelle Coehlo, Australia; Marcy Lovberg, Canada; Tracia Pounder, Barbados; and Yola Charles, Trinidad & Tobago. Read MoreContact: Mike MuckianOrganization: World Council of Credit UnionsE-mail: mmuckian@woccu.org

  • World Council, CUNA Voice Concerns on Final CFPB Remittance Transfers Rules

    24 Jan 2012 | 12:00 am
    World Council, CUNA Voice Concerns on Final CFPB Remittance Transfers Rules WASHINGTON, D.C. — World Council of Credit Unions and Credit Union National Association, the U.S. credit union trade group, have expressed concern about the compliance challenges to credit unions posed by new U.S. rules governing international remittance transfers. The 417-page remittance rules were issued Friday, Jan. 20, by the Consumer Financial Protection Bureau (CFPB) along with an accompanying proposal on remittance safe harbor requirements. Read MoreContact: Mike MuckianOrganization: World Council of Credit…

  • Global Women’s Leadership Network Announces 2012 Engagement Programs

    24 Jan 2012 | 12:00 am
    Global Women’s Leadership Network Announces 2012 Engagement ProgramsParticipants to study remote transaction technology in California and Mexico Farm laborers receive credit union services where they work thanks to remote technology deployed by Ventura County Credit Union, the destination of the first of two Global Women's Leadership Network engagement programs this year. Read MoreContact: Mike MuckianOrganization: World Council of Credit UnionsE-mail: mmuckian@woccu.org

  • World Council’s Bierecki Named to European Council

    23 Jan 2012 | 12:00 am
    World Council’s Bierecki Named to European CouncilAppointment follows executive’s 2011 election to Poland’s parliament Polish credit union leader and World Council First Vice Chair Grzegorz Bierecki has been named to the Parliamentary Assembly of the Council of Europe (PACE). Read MoreContact: Mike MuckianOrganization: World Council of Credit UnionsE-mail: mmuckian@woccu.org
 
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    Filene Research Institute Articles

  • Pilot Project Opportunity - Limited Space

    16 Jan 2012 | 11:00 pm
    Filene recently met an amazing group of entrepreneurs working on an innovation near and dear to our hearts:prized-linked savings. This group, called SaveUp, is partnering with us to pilot their project with15 lucky credit unions…you will need to act fast as we expect this opportunity to go fast. SaveUp is the first, free nationwide rewards program that encourages Americans to save money, pay down their debts and make positive changes to their financial behaviors. SaveUp can integrate into your existing rewards programs or comprise an entirely new program. The product is targeted toward…

  • Welcome to Jason Milesko, Filene's New Chief of Advisory Services

    15 Jan 2012 | 11:00 pm
    It’s like clockwork … the sunrise … Old Faithful. Every three-and-a-half weeks, without fail, we’ll get a call at the Filene office from a longtime member. It usually goes like this, “I love Filene research, and I just got your latest report. It’s really good research, and I love it. (Did I mention that I love it?) But what do I do with it?” Now we have somewhere to route those calls. Filene Leadership Team Adds Jason Milesko to Drive Applied Research; Denise Gabel and George Hofheimer Take New Roles A new year and renewed focus mean new…

  • Global Trends: Drivers, Values, and Strategic Questions for Credit Unions

    9 Jan 2012 | 11:00 pm
    Every business leader is forced to wrestle with the prospect of what’s next. This report looks beyond the next few years at four scenarios that are possible next steps beyond the Great Recession. In this report, Andy Hines, a lecturer at the University of Houston, analyzes four North American and global trends as archetypes for what’s possible beyond the Great Recession. He addresses their correlations to society, technology, the economy, the environment, and politics and then explores the credit union implications of each: Long Boom (continuation)—The most familiar possibility…

  • Credit Union Market Niches: Social and Demographic Opportunities

    9 Jan 2012 | 2:20 pm
    What does this mean for you? Click here to register for a February 9 (1:30 PM ET) webinar with the authors. Credit unions that want to juice membership growth face a limited set of options. If the field of membership is not broad enough, the credit union can petition to change it and serve new groups. Often the field of membership is expansive enough, so the challenge becomes how to approach new members of a group that will complement the credit union and allow it to grow. At the crossroads of culture and financial services, credit unions find opportunities to serve groups whose needs don’t…

  • Drops of Jupiter: CU Armageddon

    4 Jan 2012 | 11:00 pm
    As 2012 begins the superstitious among us may be worried about ancient Mayan predictions of armageddon. Credit unions have heard it all before. In my short 32 years on this planet the years 1989, 1998, and 2008 also (supposedly) signaled the end of days for financial institutions of all shapes and sizes. Alas, we are still here. Still, it is easy to look at economic data and conclude that the Mayans may have been onto something. The optimist in me, however, suggests that financial institutions should be more concerned about another ancient myth: the story of Philemon and Baucis. Jupiter and…
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    BRUEN Credit Union Blog ....... (Please send comments to cabruen@gmail.com)

  • 26 Jan 2012 | 2:01 am

    26 Jan 2012 | 2:01 am

  • The Return of the Bank Fees

    26 Jan 2012 | 2:01 am
    Mellody Hobson is your go-to girl on all things financial every Monday morning on "The Tom Joyner Morning Show." I was recently charged a monthly service fee for what I thought was a free checking account because I used a teller at my bank to deposit a check. How do I find out about new fees, and how do I avoid them? WANDA, Atlanta, Georgia Unfortunately, this situation is going to become more and more common as banking institutions try to find creative ways to cover their losses from swipe-fee regulations and opt-in overdrafts rules. These aren’t small numbers. The losses…

  • 25 Jan 2012 | 2:01 am

    25 Jan 2012 | 2:01 am

  • Kanjorski helped transparent a approach for credit unions to grow

    25 Jan 2012 | 2:01 am
    In a 1990s, credit unions were fighting for survival.Their nemesis, a American Bankers Association, assured a slight infancy of justices on a U.S. Supreme Court that credit unions were behaving over a range of a sovereign law in signing new members. The justice ruled that a credit kinship contingency extent membership to a strange sponsoring group. Credit unions, it seemed, would be gutted.Then-Rep. Paul Kanjorski, a Luzerne County Democrat, introduced and shepherded a Credit Union Membership Access Act to explain a law and transparent a approach for credit unions to grow.“He had been a…

  • 24 Jan 2012 | 2:01 am

    24 Jan 2012 | 2:01 am
 
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    That Credit Union Blog

  • Cuyahoga County, Ohio, Judge Nancy Margaret Russo’s Standing Order Regarding Foreclosures

    Nicole Kellner-Swick
    25 Jan 2012 | 3:30 am
    By Larry R Rothenberg, Esq. Ohio foreclosure procedures are covered by the pertinent state statutes and the Ohio Rules of Civil Procedure.  In addition, individual courts often adopt local rules, which must be followed in cases filed in the particular county.  Furthermore, individual judges generally have discretion in the administration of their cases, and some impose standing orders that apply to all cases in their courtrooms.  Judge Nancy Margaret Russo of the Cuyahoga County, Ohio, Court of Common Pleas has such a standing order for foreclosures.  Mortgage servicers should take…

  • New County E-Filing Systems Impact Deadlines for Withdrawals from Sheriff Sales

    Nicole Kellner-Swick
    23 Jan 2012 | 3:30 am
    By David W. Cliffe, Esq. Over the past several years in Ohio, lenders increasingly modified their goal in foreclosures from the speedy recovery and resale of the property toward achieving loss mitigation and borrower retention of the property.  As result of this trend, lenders are requesting a greater volume of their sheriff sales withdrawn.   In the past, sheriff sales were commonly withdrawn only due to the borrower’s filing a bankruptcy petition.  Today, lenders’ motives to withdraw sales expanded to charge-offs, a borrower’s eleventh hour proposal for loss mitigation or receipt…

  • Going Paperless. Are Electronic Contracts and Signatures Enforceable?

    Nicole Kellner-Swick
    20 Jan 2012 | 3:30 am
    by Matthew M. Young, Esq. As more and more businesses embrace the concept of the phrase “going paperless”, more and more people are asking the question: Are electronic contracts enforceable and are the signatures used on such electronic contracts enforceable in a court of law?  The short answer to this question is yes!  In 2000, congress passed the Federal Electronic Signatures in Global and National Commerce Act (E-Sign Act).  At the state level, 47 states passed the Uniform Electronic Transactions Act (UETA) (only IL, NY and WA have not adopted UETA, and yet have passed legislation…

  • Don’t Be Deficient in Collecting Your Deficiencies!

    Nicole Kellner-Swick
    18 Jan 2012 | 3:30 am
    By Matthew M. Young, Esq.  One of the most common problems in collection actions arise when creditors attempt to collect deficiencies resulting after the sale of repossessed collateral.  More specifically, these problems relate to sending proper notices of sale after repossessing the collateral, before a sale occurs.  Failure to send a proper notice of sale can be a complete bar to recovering any resulting deficiency after the sale.  Not only must you send this notice timely, but you must also include certain terms in order for the notice to be considered valid.  Most states, including…

  • Wish List for the Dream Credit Union CEO

    Rob Rutkowski
    16 Jan 2012 | 3:15 am
    Do I dare Disturb the universe? In a minute there is time For decisions and revisions which a minute will reverse.         – T.S. Elliot, The Lovesong of J Alfred Prufrock What should our wish list look like for the perfect credit union CEO?  My angle is forever skewed by my role as counsel and fixer.  However, I have seen CEOs step in it and survive and I’ve seen CEOs who never dare disturb the universe. No one is perfect.  No one will have all of these qualities and frankly, those who do have these qualities can still have bad days.  Being human is still what we…
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    hopewellfederal07.wordpress.com

  • Mark These Key Birthdays in the Coming Years

    Hopewell Federal Credit Union
    25 Jan 2012 | 11:04 am
    If you’re in the middle years of life, you remember reaching Sweet 16, turning 21, and enduring over-the-hill jokes on your 40th birthday. When we approach 50, we look ahead to key birthdays–or half-birthdays–related to our retirement planning. At specific ages, we can or must take certain actions. Age 50: At 50, it truly hits us that retirement is around the bend. This is a good time to consider long-term care insurance, as it will be more costly when you’re older. Also, pay down debts and begin to think about how you’ll take your pension plan payouts. Age 55:…

  • JUST THE FACTS: International Year of Cooperatives

    Hopewell Federal Credit Union
    18 Jan 2012 | 8:06 am
    A cooperative is a member-owned and controlled business that operates for the mutual benefit of its members. Cooperatives operate across all sectors of the U.S. economy and include agriculture, food distribution and retailing, childcare, credit unions, purchasing, worker-owned, housing, healthcare, energy and telecommunications cooperatives. Cooperatives promote the fullest possible participation in the economic and social development of all people, including women, youth, older persons, persons with disabilities and indigenous peoples. Cooperatives are a major economic force in developed…

  • The Home Search Process Simplified

    Hopewell Federal Credit Union
    11 Jan 2012 | 3:18 pm
    Once you’re preapproved at the credit union for a home loan, you can start the fun part of the home-buying process…looking for a home! Let’s break down the process: 1. Document what you need—and want—in a new house. 2. Select a real estate agent—ask for personal recommendations from family or friends, and interview agents before choosing the best fit. Once you’ve selected an agent, meet face to face to review the criteria defined in step one. 3. Once your real estate agent sends you listings to review, select up to five houses for your first showing. 4. Take good notes after…

  • A Long, Cold Winter? Simple Energy Projects Can Save You a Bundle

    Hopewell Federal Credit Union
    4 Jan 2012 | 8:24 am
    With heating prices up, it’s time to consider saving energy with programmable thermostats, insulation, weatherstripping and upgrading windows and doors. Programmable thermostat …Electronic thermostats that lower the temperature while you are in bed or away from home are the fastest, easiest way to save energy. In a cold climate, you can save about 5% for a 5° setback that lasts for eight hours. Most of these thermostats sell for less than $100, and they’re ultra-easy to install. Insulation Floor of unheated attic: Check recommended insulation levels, and lay new insulation…

  • Five Things To Do in January

    Hopewell Federal Credit Union
    28 Dec 2011 | 7:51 am
    It’s no surprise that January is a big month for making resolutions. And if you’ve been making resolutions for a while, you know how many of them fall by the wayside before February. These suggested resolutions are different in two ways—they’re in the ‘set and forget’ category, and they can make your life so much easier that you’re likely to keep them: * Set up direct deposit. Once you arrange to receive regular payments like your paycheck or Social Security and pension checks with direct deposit, you’ll never have to worry about making timely deposits again. You’ll know…
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    ConverStations

  • Display Merchandising: Your RSS Feed

    Mike Sansone
    27 Jan 2012 | 9:39 am
    Do you subscribe to your own RSS feed?  You should. Sometimes, if you could see what I can see (and what your readers-prospects-customers see). A successful retailer and the restauranteur are always looking over their displays and presentation – and so should you. When I click on your RSS button – if it goes anywhere – I sometimes get sent to a page that looks like this:   Feedburner gives you analytics AND a stylized, browser-friendly result when readers click on your subscribe button. Now that you’ve subscribed to your own RSS feed, you can do even more…

  • Seasons of Talk

    Mike Sansone
    25 Jan 2012 | 4:46 am
    How do you measure the conversations in a day? Small talk at the grocery store? Debates at meetings? Brainstorming during lunch? Arguments in your own head? How about the conversations where you listen more than talk? Or the ones you have on Twitter? Those where there is no talking going on at all? I’ve never counted the number of conversations I have in a day. You? Yet we struggle at writing a blog or posting a thing on that social network. If you listen to your day, you’ll never run out of things to write about.  Nobody suffers from Talker’s Block. Start with one…

  • Single Login to Google = Win for You

    Mike Sansone
    23 Jan 2012 | 5:30 am
    “Complaining that signing up for Google services forces you to sign up for G+ is like complaining that buying a smart phone forces you to own a camera.”  - Marc Razia on Google+ I’ve become wary of the haters, the gripers, the pundits who scream foul like they are owed something. Before anyone jumps to conclusions about what I just said: a definition of wary. Google now offers a single login for new users. When someone signs up for a Google account, the newcomer is also activating GMail and Google+, and Google Maps and … well, it’s a Google account.

  • Slide Sunday: One Brick at a Time

    Mike Sansone
    22 Jan 2012 | 6:52 am
    “You don’t try to build a wall. You don’t set out to build a wall. You don’t start there. You say, ‘ I’m going to lay this brick as perfectly as a brick can be laid.’ You do that every single day. And soon you have a wall.” – Will Smith Slide Sunday: One Brick at a Time is a post from: ConverStations Find Your Social Media ROI I hear it from a lot of business owners: "Where is the ROI with all this Social Media?" If this is a question you've asked, maybe we should work together a bit more. We can work together solo, or via a professional…

  • Ignoring the Social Media Echo Chamber Chamber

    Mike Sansone
    20 Jan 2012 | 9:27 am
    You may occasionally read about the “social media echo chamber” – maybe you even write about it. Me? I don’t think it exists. Not really. And you shouldn’t let it exist – because if you do, it’s all in your head. Yep, I think you’re imagining things. Granted, there are a lot of folks that talk about social media, and as a small business owner using social media – social media is part of the conversations in your day. But it’s not your core business. Let’s say you’re a furniture store owner, you should be more concerned…
 
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    Verity - Home

  • Maybe

    LSimmons
    28 Jan 2012 | 12:39 am
    I took my kids to the dentist the other day. Things didn't go quite as I had planned.... "Once upon a time there was a farmer who had worked his crops for many years. One day his horse ran away. Upon hearing the news, his neighbors came to visit. “Such bad luck,” they said sympathetically. “Maybe,” the farmer replied. The next morning the horse returned, bringing with it three other wild horses. “How wonderful,” the neighbors exclaimed. “Maybe,” replied the old man. The following day, his son tried to ride one of the untamed horses, was thrown, and broke his leg. The neighbors…

  • Having Faith

    SashaK
    25 Jan 2012 | 5:09 pm
    Everything will be okay in the end. And if it's not okay, it's not the end. Faith and religion are two very different things. I’m not always sure that I would consider myself religious – to me, the word religion conjures up images of awe-inspiring cathedrals, rituals rooted in tradition, formal clothes, and the sound of many different voices coming together in song. Though I appreciate the idea of religion, enjoy it from time to time in the company of loved ones, and understand the comfort that it brings to people, it’s not the right thing for me. But faith is a different matter…

  • Seattle Takes Sundance by Storm

    sharis
    25 Jan 2012 | 4:45 pm
    Since my husband works in the film industry, I’ve been able to attend the Sundance Film Festival in Park City Utah for the past two years. Last year, a Seattle film that he worked on called The Off Hours premiered, as did another Seattle filmed called The Details which made headlines when Harvey Weinstein paid a record breaking $10 million for it This year, my husband, who is a location scout and manager, worked on a film called Safety Not Guaranteed It premiered this weekend to a packed house. The crowed loved it and the reviews the next day were positively glowing Also showing, by special…

  • Jumping through hoops ...

    wendif
    23 Jan 2012 | 3:17 pm
    Looking for 'JumpSnap,' a revolutionary way to burn 600 calories in just 30 minutes! I watched the daytime TV show, The Doctors, when the oh, so handsome Dr. Travis introduced me (& I suppose everyone else who was also watching) to JumpSnap. Dr. Oz also highly recommends it. What is JumpSnap? Well, it's a "rope-less" jump rope system. You can use it anywhere, even take it on vacation. It is weight adjustable, and has an onboard computer that tracks your number of jumps and calories burned. Speaking of calories, it says you can burn 1,200 in an hour! That's an entire day's worth of calories…

  • Hey ...PSST ... I said PSST.....

    vivianv
    18 Jan 2012 | 4:16 pm
    What a day. We all had PSST, Puget Sound Snow Today. Some Verity-ites (my way of saying "Verity employees") stayed home due to challenging and dangerous road conditions (including yours truly). As I was listening to the local news channels' ad nauseum coverage of weather conditions, I wondered what some of my friends were doing. Here's what I found out: My brother was trying to determine how in the world is he going to make it to work tomorrow ...... he lives in an extremely hilly area My brother's fianace was reminding him that he had to get to work because they have a wedding to pay for…
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    Credit Union and Mutual Law Blog from Langes+

  • Queensland duty on mergers, acquisitions and transfers of assets of financial institutions

    David Jacobson
    26 Jan 2012 | 7:42 pm
    The Queensland 2011-12 Mid Year Fiscal and Economic Review delivered on 13 January included an announcement of the “deferral of the abolition of duty on the transfer of core business assets until the Budget can accommodate the abolition”. Under The Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations (the GST Agreement) business asset duty was previously scheduled to be abolished in Queensland on 1 July 2013. The duty affects non-land assets. Other states have already abolished it. For financial institutions the duty affects Queensland assets…

  • New APRA Standards commence

    David Jacobson
    2 Jan 2012 | 1:38 pm
    New APRA Standards (associated forms) for capital adequacy, market risk, securitisation and prudential disclosure commenced on 1 January 2012. Download new APS 111, 116, 120, 310 and 330 here. APRA’s Response to Submissions lists the changes to the previous standards. Banking (prudential standard) determination No. 5 of 2011 - Prudential Standard APS 111 – Capital Adequacy: Measurement of Capital Banking (prudential standard) determination No. 6 of 2011 – Prudential Standard APS 116 – Capital Adequacy: Market Risk Banking (prudential standard) determination No. 7 of…

  • Payments fraud in Australia

    David Jacobson
    20 Dec 2011 | 1:33 pm
    The Australian Payments Clearing Association (APCA) has released statistics for cheque and payment card fraud in Australia for all financial institutions the 12 months to the end of June 2011. Whilst cheque fraud dropped, scheme credit, debit and charge card fraud (signature-permitted debit, credit and charge cards and card-not-present (CNP) transactions) increased from 58.9 cents to 74.3 cents in every $1,000 transacted. The incidence of fraud on these cards increased from 34.6 to 41.9 in every 100,000 transactions. CNP fraud is increasing. CNP is where the consumer is not face-to-face with…

  • Mutual Banking Code Compliance Committee Annual Report

    David Jacobson
    18 Dec 2011 | 1:43 pm
    The Compliance Committee of the Mutual Banking Code of Practice has released its Annual Report for 2010-2011. It is the view of the Committee that Mutuals have a natural bias towards treating their customers well. It is part of their culture and of their history. However it did identify areas for improvement including: advice to members in relation to Direct Debits the frequency of reporting of Code breaches; who is responsible for that reporting and to whom they are reported (e.g. management or board level). The Committee concluded that the ‘breach’ register may still be being confused…

  • Case note: assessing a guarantor’s capacity to pay

    David Jacobson
    15 Nov 2011 | 2:33 pm
    In Fast Fix Loans Pty Ltd v Samardzic [2011] NSWCA 260, the NSW Court of Appeal rejected an appeal from a Supreme Court decision to refuse a mortgagee’s application for possession of land owned by the third party mortgagors. The mortgagors were the parents of the sole director of a property development company. They succeeded in their application under the NSW Contracts Review Act to declare the mortgage unjust and unenforceable. The guarantors were Serbian and whilst they could read English to a simple degree and knew what a mortgage was, their capacity was insufficient to enable them…
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    American 1 Credit Union's Blog

  • Introducing Instant Issue

    american1cu
    16 Jan 2012 | 1:43 pm
    At American 1, offering our member’s convenience is a priority.  In fact, our newest service – instant issue cards, offers our member’s the opportunity to get their new debit or credit card in minutes.  All of our 12 branch locations are now fully equipped to be able to produce a full color card that is instantly activated and ready for use.  No more waiting for 10 days for the card in the mail – you will have your new card in hand before you leave the branch.  Best of all, for a small $6 fee, our members will be able to choose their card design.  The card image gallery has more…

  • American 1’s Winter Wonderland raises over $7,000 for charity

    american1cu
    3 Jan 2012 | 1:49 pm
    For eleven days in December, the American 1 Event Center at the Jackson County Fairgrounds was transformed into Jackson’s own North Pole for the third year of the American 1 Winter Wonderland (WWL) event, an added event to the Nite Lites in 2008. Not only did Santa and Mrs. Claus visit, but Santa’s reindeer showed up, with holiday puppet shows and train rides ran every night. New this year, The Home Depot Kid’s Workshop on Friday’s and Saturday’s and the Jackson School of the Arts dance performance on a special night. For the third year, the Holiday Tree Decoration contest took…

  • Making a Secure Password

    american1cu
    19 Oct 2011 | 7:19 am
    The threat of computer hackers is real, and we need to take precautions to protect the passwords that we use on all sorts of websites on a daily basis. Check out this article for some great tips on creating strong and secure passwords.  http://hereandnow.wbur.org/2011/10/17/password-security-computer

  • New Promotions

    american1cu
    14 Sep 2011 | 10:10 am
    Cathy Wiegman VP of Member Realtions and Sales has been promoted to VP of Branch Operation in our Eastern District. What this means is that Cathy will be in charge of the branches that merge with American 1 FCU on September 1. Cathy has been with American 1 since December of 1999 in which she accepted at a position as branch manager at our Felpausch office. After the outstanding job she did at Felpausch in promoting American 1 and developing loan opportunities, she was promoted to VP Member Relations and Sales on August 10, 2005. Please join me in wishing the very best to Cathy in her new…

  • Two lucky members receive $1000 gas cards!

    american1cu
    1 Sep 2011 | 12:25 pm
    Melinda Adams and Betty Harrington were the lucky winners in our referral giveaway. Both have been longtime members and Betty referred Melinda for a loan with American 1. They both were then entered into the drawing and came out the winners. Melinda and Betty have been members since they were teenagers and Melinda loves the convenience and friendly service that she receives from our tellers. Way to go Betty and Melinda!
 
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    Banks vs Credit Unions's Blog

  • Friday 13th Shakes Europe

    Blair Evan Ball
    17 Jan 2012 | 7:05 am
    To Solve the Crisis You Must Solve Three Problems 2012 Foreign Debt Maturing There are three main problems in Europe. Most of the banks are massively insolvent, because they have 30 times their capital invested. The sovereign debt of countries that are going to have trouble paying that debt. If the banks have to mark down the debt to what its real value is – or to what it will soon be – they will be bankrupt on a scale that makes 2008 look like a waltz in the park. If banks can’t make loans, then businesses must cut back, which means fewer jobs, products, and services, which quickly…

  • US Debt Surpasses GDP

    Blair Evan Ball
    16 Jan 2012 | 6:45 am
    The total of the U.S. debt load is now $15.2 trillion, more than the annual value in goods and services of the country’s economy. Now exceeding 100% of the US Economy. US Debt % to GDP Although the specific figure is difficult to pinpoint, the benchmark was likely reached at some point in the last few days, USA Today first reported Monday. In layman’s terms, it means the world’s largest economy now collectively owes more than its entire annual output is worth. The total value of all the goods and services that the U.S. produces sits at $15.17 trillion. That figure is growing…

  • How are community banks positioned headed into 2012

    Blair Evan Ball
    28 Dec 2011 | 6:30 am
    The Fed promising to be on hold through 2013 means there’s little aspect for relief in interest margins and rates. The credit recovery we’ve seen is starting to wane … so really it’s all about profitability at this point, and that’s a tough picture. The smaller you go in the banking space, the more spread-dependent you are and the less diversified your revenue stream is. Mergers & Acquisitions Are small banks better off growing or shrinking loans? The Fed’s zero interest rate policy is causing a lot of the more creditworthy small businesses to just pay down…

  • Banks Quietly Ramping Up Costs to Consumers

    Blair Evan Ball
    29 Nov 2011 | 11:34 am
    Facing a reaction from an angry public and heightened scrutiny from regulators, banks are turning to all sorts of fees that fly under the radar. Everything, it seems, has a price. Fees Nationwide, credit unions are en vogue. And while some of these new credit union members will transfer their checking accounts, direct deposits, electronic bill pays, and even their credit cards and loans, many will not. The majority of the benefit goes to the bigger Credit Unions, those with assets over $100 Million seeing the biggest increase in new members from banks. Unfortunately for the small to medium…

  • $15,000,000,000,000

    Blair Evan Ball
    16 Nov 2011 | 7:04 am
    For the first time in American History we will surpass $15 Trillion in our National Debt today! That basically equals 100% of our Gross Domestic Product. In the book “This Time is Different” by Reinhart and Rogoff, once a country reaches 90% of GDP, buckle your seat belt, well we blew by that number. Forget all the pundits who keep saying it will affect our children and grandchildren. No one is talking about how the debt is affecting all of us today. The debt was $10.626 trillion on the day Mr. Obama took office. We are in another depression like the 30′s, and he…
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