Operations

Fed: Economic Activity Increases 'Somewhat'

April 14, 2010
Overall economic activity increased “somewhat” across all Federal Reserve Districts except St. Louis since March 3, according to the Federal Reserve Board’s April 14 Beige Book . Districts generally reported increases in retail, vehicle, and tourism spending, while reports on the services sector were generally mixed. Manufacturing activity increased in... READ MORE

Survey: Financial Literacy Improves During Financial Crisis

April 13, 2010
Some Americans have responded to the Great Recession by making positive changes in their financial behavior, according to the National Foundation for Credit Counseling’s (NFCC) fourth annual Consumer Financial Literacy Survey. While the news isn’t all good, the survey results suggest a slightly positive trend in a few areas of... READ MORE

March Bankruptcy Filings Reach Highest Level Since 2005 Overhaul

April 12, 2010
The 149,268 consumer bankruptcies filed in March represented the highest monthly consumer filing total since Congress overhauled the Bankruptcy Code in 2005, according to the American Bankruptcy Institute (ABI), relying on data from the National Bankruptcy Research Center. The March filing total represented a 34% increase from the February filing... READ MORE

The Weakest Link

March 30, 2010
James Collins Some people fall for the most blatant scams. For all the firewalls, intrusion detection systems, virus scanners, and camera systems, your weakest security link is the one sitting in your credit union lobby or logging in from home. Yep, like it or not, that latte-sipping, SUV-driving, Gore-Tex-wearing individual... READ MORE

Slay the Credit Card Giants

March 30, 2010
Size will become a more pronounced advantage for credit card issuers as large issuers retain the competitive advantages of high-visibility branding, sophisticated automated underwriting, and efficient back-office operations. But a two-pronged strategy will allow credit unions to compete with large issuers, according to the Filene Research Institute’s “The Credit CARD... READ MORE

Emerging Security Threats

March 30, 2010
Jennifer Garrett In this age of cyber crimes and brazen thieves, don’t let security lapses compromise members’ trust. Focus • Educate members on the latest schemes, spoofs, and scams. • Prepare staff to guard against security compromises. • Board focus: Support CU investment in preventive tools and technologies. Security is everything when it... READ MORE

Investments: What to do in a Rising-Rate Environment?

March 29, 2010
By Edward Meier Not long ago, it seemed we would never see the bottom of the economic crisis. Today, some economists are calling for a recovery in 2010 to materialize such that Federal Reserve monetary policy will become less accommodative. Without hesitation, interest rates would rise as investors speculate additional... READ MORE

Spotlight: Kelly McDonough

March 23, 2010
Who : Kelly McDonough What : President/CEO Where : First Alliance CU , Rochester, Minn. Kelly McDonough believes organizations function best when they have an engaged and inspired workforce. Companies that meet employees’ needs for work/life balance reap big rewards in productivity, commitment, and loyalty, she says. McDonough’s commitment to... READ MORE

Phony listings poison search engine results

March 23, 2010
Over 18 months, TraceSecurity  Co-founder/Chief Technology Officer Jim Stickley employed his talent for exploiting security flaws to show how easily search engine listings could be poisoned by malicious schemes. The Credit Union of Southern California in Whittier allowed Stickley to mimic its Web site as part of the experiment. “We... READ MORE

Legislative Issues of the Decade

March 18, 2010
The past decade was an active one politically for credit unions, with a major victory—the defeat of legislation that would have altered the bankruptcy code to allow judicial mortgage modification in Chapter 13 bankruptcy proceedings—punctuating the end of the decade. Other top legislative issues of the decade, according to Credit... READ MORE

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