Operations

SAC FCU's All-Loan Approach

October 27, 2009
By Judy Dahl Rather than investing, $379 million asset SAC Federal Credit Union , Bellevue, Neb., relies solely on loans to maximize income. As a result, the credit union’s loan-to-share ratio is 114%, reports Steve Ames, SAC Federal’s senior vice president of finance. “We have borrowings from the Federal Home... READ MORE

Compliance Q&A: Unauthorized EFTs

October 27, 2009
By Valerie Moss Q Does a credit union have to follow through on its investigation of an unauthorized electronic fund transfer (EFT) if the member withdraws the allegation?   A No. The credit union can discontinue its investigation if the member voluntarily withdraws the notice alleging an unauthorized EFT. The... READ MORE

In Search of No-Risk Returns

October 23, 2009
James Collins Go long, go short, or drop back 10 and punt? The answer: near zero. The question? What is: a. The chance my beloved Seahawks will make it to the playoffs; b. The probability the National Credit Union Administration (NCUA) has finally figured out what to do with the... READ MORE

Internal Controls Thwart Embezzlement

October 23, 2009
Derrick Peterson Keep honest people honest by limiting opportunities for dishonesty. Recently I read an article sent to me by the CUNA CFO Council titled, “How Not to Embezzle.” The article told of a CEO in Wichita Falls, Texas, who embezzled between $850,000 and $1.9 million through approximately 130 fraudulent loans... READ MORE

The Shape of Things to Come

October 23, 2009
Mike Schenk Will the economic recovery mirror the V-shaped stock market recovery? The “shape” of the eventual U.S. economic recovery will dramatically influence credit union operations. A strong economic recovery would translate into substantially slower savings growth, big increases in loan growth, lower margin pressures, and healthier bottom lines. Most... READ MORE

ALM and Corporate Stabilization

October 23, 2009
Patrick Totty ALM helps CUs manage spreads in the wake of NCUA assessments. In the wake of corporate credit union stabilization, asset/liability management (ALM) software and service vendors are seeing distinct reactions from credit unions—namely frustration, says Denny DeGroote, manager of ALM financial management services at The Members Group. As... READ MORE

Investments: Stay Short, Be Safe

October 23, 2009
Judy Dahl An improving economy requires portfolio managers to adjust their investment strategies. It’s an understatement to say the economic downturn posed challenges to credit union investment portfolio managers. They struggled to mitigate risk in the face of the mortgage meltdown, the credit crunch, the stock market tumble…. Let’s just... READ MORE

The Future Role of Corporate CUs

October 23, 2009
Sharyn Alden Opinions vary on how to restructure the corporate system. But leaders agree major changes are necessary. Corporate credit unions and their stakeholders hope to learn from events of the recent past that culminated in the National Credit Union Administration (NCUA) placing the two largest corporates into conservatorship in... READ MORE

Senior Scams

October 23, 2009
Seniors get fleeced out of billions of dollars every year—and most of it goes unreported. READ MORE

Foiling a Scam

October 23, 2009
Steve Rodgers Alert CU staff thought something was wrong, and it was. Bank of America didn’t catch it. Citibank didn’t catch it. Neither did Wells Fargo. As employees at those banks were busy processing withdrawals, Joe Gonzales was busy draining 82-year-old Jack Whittaker’s accounts. In little more than a year,... READ MORE

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