Operations

When Factories Fold

June 01, 2010
The recession has idled scores of U.S. factories. When the gates close, CUs become members' financial safety net. READ MORE

Mortgage Fraud Continues to Climb

May 14, 2010
Reported incidents of mortgage fraud and misrepresentation by professionals in the mortgage industry grew 7% from 2008 to 2009, according to The 12th Periodic Mortgage Fraud Case Report  from the Mortgage Asset Research Institute , a LexisNexis® service. “While this is a noticeable increase, we believe that mortgage fraud is... READ MORE

Cheney Named New CUNA CEO

May 05, 2010
Bill Cheney will take the reins as CUNA president/CEO July 5, succeeding Dan Mica. Cheney, 49, is president/CEO of the California/Nevada Credit Union Leagues. “After an exhaustive search, in which nearly 100 highly qualified candidates were considered, the CUNA Board has unanimously accepted and certified the executive search committee’s recommendation... READ MORE

Go From Good to Great

April 30, 2010
Business growth guru Jim Collins , author of “Good to Great: Why Some Companies Make the Leap…and Others Don’t,” will keynote The 1 Credit Union Conference . The event, a joint effort between World Council of Credit Unions ( WOCCU ) and Credit Union National Association ( CUNA ), will... READ MORE

FBI's Top Ten News Stories

April 26, 2010
For the week of April 23: 1. New York: Guilty Plea in al Qaeda Subway Plot The Justice Department announced that Zarein Ahmedzay, a U.S. citizen and resident of Queens, N.Y., pled guilty to terrorism violations stemming from, among other activities, his role in an al Qaeda plot to conduct... READ MORE

Avoid Collateral Damage

April 26, 2010
When auto loans go bad, collateral-management tools help CUs pick up the pieces. In today’s tough economy, when many people are defaulting on car loans, you’d expect auto repossession agents to be rolling in clover. But they’ve also run into tough times. “Just when you’d think there... READ MORE

Fed Releases New Gift Card Rules

April 19, 2010
New Federal Reserve rules provide new protections when consumers purchase or use gift cards. Following are some key changes that apply to gift cards sold on or after August 22, 2010. Covered by the new rules are: Store gift cards , which can be used only at a particular store... READ MORE

Repo remarketing: Use multiple channels

April 18, 2010
When liquidating repossessed vehicles, most credit unions want fast turnaround times and the highest sale price possible, according to respondents to CUNA's 2009 Vehicle Repossession Liquidation Survey. The need to deal with nonperforming loans—and to dispose of collateral—has expanded during the current recession. On the credit union balance sheet, the... READ MORE

CU crime report: Part II

April 16, 2010
This man was ticketed $96 after he wore this outfit into a La Crosse, Wis., credit union. Here’s a tip for wanna-be gangsters: Don’t brag about your crimes to your Facebook friends—especially when one of them works for the Justice Department. These and other crime lessons—culled from the pages of CUNA’s... READ MORE

Recession Changes Consumers' Financial Behavior

April 14, 2010
Consumers are paying down debt, taking out fewer loans, and building up liquid savings balances—major changes in financial behavior due to the Great Recession, says Mike Schenk, vice president of CUNA’s economics and statistics department. While the average savings rate during the ‘70s and ‘80s was around 10%, it fell... READ MORE

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