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Nussle takes CUNA helm is No. 1 story of Sept. Top 10

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MADISON, Wis. (10/2/14)--An article on the hiring of Jim Nussle, a former eight-term congressman and director of the White House Office of Management and Budget for President George W. Bush, as the new president/ CEO of the Credit Union National Association was the most-read News Now story in September.
 
Data security continued to dominate credit union news in September. Four of the Top 10 stories were related to data security and data breaches.
 
The 10 most-read News Now articles in September:
 
10. CU payments providers seek Apple Pay inclusion
 
MADISON, Wis. (9/11/14)--In light of Apple's announcement of its new mobile payment system--Apple Pay--CO-OP Financial Services and Fiserv are working to ensure credit unions are part of that payment environment.
 
9. Two CUs file suit against Home Depot
 
LAKEWOOD, N.Y., and NEWCASTLE, Pa. (9/25/14)--Two Northeastern credit unions have filed a pair of lawsuits against Home Depot, alleging that financial institutions nationwide have suffered millions of dollars in damages as a result of the data breach that befell the home improvement retail chain recently.
 
8. Matz to request revised RBC proposal, new comment period

ALEXANDRIA, Va. (9/29/14)--National Credit Union Administration (NCUA) Chair Debbie Matz announced she intends to request a revised proposed risk-based capital rule be issued with a new comment period. This is a result of "significant structural changes" being considered. CUNA requested a second comment period prior to issuing a final rule.
 
7. Refuting ABA chief, Hampel points out real difference of CUs

WASHINGTON (9/8/14)--The real reasons behind credit unions' success are their cooperative ownership structure as well as a good amount of public trust, reminded CUNA interim President/CEO Bill Hampel.
 
6. CUs, members need data security protection, CUNA urges

WASHINGTON (9/5/14)--The implications of a recent data breach at Home Depot--which has the potential to dwarf that of last year's Target Corp. incident--could weigh heavily on credit unions.
 
5. Home Depot 2nd-largest breach with 56M compromised cards
 
MADISON, Wis. (9/22/14)--Home improvement retailer Home Depot confirmed last week that the recent five-month data breach compromised 56 million credit and debit cards--second only behind the Heartland Payment Systems breach in 2009. But what does this mean to the average consumer?
 
4. Jimmy John's: Vendor data breach impacts 216 stores

MERRIFIELD, Va. (9/25/14)--Nationwide sandwich chain Jimmy John's confirmation Wednesday of a payments-vendor breach that compromised customer information at 216 locations in 39 states is yet another example CUNA and credit unions advocate passing laws making merchants more responsible for such intrusions.
 
3. Fed plans no debit fee cap change

WASHINGTON (9/18/14)--The Federal Reserve Board today said it will not propose any changes to its cap on debit card interchange fees. The Fed said the decision is based on results of its survey of costs associated with debit card transactions, a survey it executes every two years.
 
2. FOMC: QE likely phased out next month

WASHINGTON (9/17/14)--The Federal Open Market Committee said in today's policy statement that quantitative easing (QE), a tool the Fed has used to stimulate the economy since the economic downturn in 2008, likely will be entirely phased out next month.
 
1. Jim Nussle, former House Budget Committee chair/director of OMB, named president/CEO of CUNA
 
WASHINGTON (9/9/14)--Jim Nussle, a former eight-term congressman and director of the White House Office of Management and Budget for President George W. Bush, is the new president/ CEO of CUNA, the chairman of the nation's largest trade group for credit unions announced today.

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ICU Day sparks month-long celebration of the CU difference

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MADISON, Wis. (10/2/14)--With the official International Credit Union (ICU) Day two weeks away, credit unions and state leagues are gearing up to demonstrate the credit union difference throughout October.
 
In Georgia, credit unions are promoting a Switch to Save campaign that helps consumers identify savings on loans. A member or potential member can bring in two months of statements from another financial institution to determine if switching their loan to the credit union will save them money, according to the Georgia Credit Union Affiliates (GCUA).
 
"During International Credit Union Week, credit unions will say thank you to the members that use their services now and 'give it a try' to those that have not yet joined a credit union," said GCUA President/CEO Mike Mercer.
 
The Northwest Credit Union Association (NWCUA) will prepare its member credit unions for a Pay It Forward campaign. During next week's Amplify convention, NWCUA will hand out random stacks of cash to attendees. The stacks of money--to be given to away on Oct. 16--symbolize the savings credit unions generate for their members every day, according to NWCUA ( Anthem Sept. 29).
 
While handing out the cash, credit unions can take the opportunity to share the credit union difference. NWCUA advised them to tell recipients that "Credit unions in the Northwest save households an average of $114 per year. Today we're paying it forward into our community. This cash is yours, no strings attached."
 
Credit Unions for Kids will hold Shop for Miracles, a one-day fundraising program to support local Children's Miracle Network Hospitals. Every time a member of a participating credit union swipes his or her credit union-issued credit or debit card, the credit union will donate 25 cents, or another predetermined amount, to a local Children's Miracle Network Hospital.

Shop for Miracles is sponsored by the Credit Union National Association, the World Council of Credit Unions and Credit Unions for Kids.
 
CO-OP Financial Services also will tie its Miracle Match program to Shop for Miracles, matching funds dollar-for-dollar up to $10,000 with certain participating credit unions.
 
Watch News Now for more coverage of ICU Day events.

Defense CU Council salutes top military CUs

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WASHINGTON (10/2/14)--The Defense Credit Union Council betowed its Distinguished Service awards to five credit unions from each department of the U.S. military last month during the council's 51st annual conference.

Credit unions serving the Army, Navy and Air Force were honored for the work they do serving the U.S. military community at home and abroad.

The criteria for the awards generally included delivery of financial services "above and beyond normal requirements;" special services provided at the command's request; financial education and training; action taken to combat predatory lending; community support; and professional attitude and financial leadership.

The Department of the Army honored Service CU, Portsmouth, N.H., with $2.4 billion in assets, for its outstanding commitment to community financial education and combating predatory lending. The credit union, with a branch in Grafenwoehr, Germany, also was recognized for its "tireless" support of on-base programs.

"Their unrivaled ability to support servicemembers worldwide and through multiple remote access channels enhances individual and unit readiness as well as insuring financial soundness of soldiers' families here in Germany," said U.S. Army Garrison Grafenwoehr Commander James Saenz. "Ultimately, their 'service' helps our troops focus on the important mission at hand."

Service CU also was the sole funding source for the 2013 USO Thanks for Thanksgiving Dinner and the USO Holiday dinner. The credit union also provided financial support for programs such as the USO Fridge Fund and Grafenwoehr Military Spouses Day.

The Department of the Navy gave its awards to both Pacific Marine CU, Oceanside, Calif., with $708 million in assets, and Navy FCU, Merrifield, Va., with $58 billion in assets.

Pacific Marine at the Marine Corps Recruit Depot in San Diego was honored for its work helping active-duty servicemembers avoid predatory lenders and for assisting them in establishing or re-establishing credit through free financial literacy programs.

Finally, the Department of the Air Force gave the award to both Travis CU, Vacaville, Calif., with $2.2 billion in assets, and Air Force FCU, San Antonio, with $372 million in assets.

Travis CU, which earned the honors in the more than $1 billion-asset category, was recognized for helping members battle predatory lenders by providing low-interest lines of credit to pay off predatory lender high-interest accounts, and for offering its own small-dollar loan product.

Travis also was pegged for the award for its support of military children through the "My Life: A Kids Journal" and KUDOS (Kids Understanding Deployment) programs, and for its focus on financial literacy. The credit union offers financial literacy classes, debt counseling and budgeting seminars to members at Travis Air Force Base.

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Social media presence supports CUs' credibility, says CUNA expert

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MARLBOROUGH, Mass. (10/2/14)--Participating in social media helps organizations establish credibility and authenticity with their audience, Amaia Stecker, senior social media and digital media manager for the Credit Union National Association, told a group of seminar participants hosted by the Massachusetts, New Hampshire and Rhode Island credit union leagues.
 
Click to view larger image Amaia Stecker, senior social media and digital media manager for the Credit Union National Association, addresses attendees at a seminar on social media hosted by the Massachusetts, Rhode Island and New Hampshire credit union leagues. ( Daily CU Scan Photo)
In addition to managing social media for CUNA, Stecker oversees asmarterchoice.org, the website launched by CUNA and leagues, which, in part, helps consumers find a credit union to join.
 
"Amaia brings a tremendous understanding of how consumers use this media as well as an understanding of how credit unions can use it to their strategic advantage," said Paul Gentile, president/CEO of the leagues ( Daily CU Scan Oct. 1).
 
The Tuesday session covered the social media options available and the advantages each offers to credit unions. "Social media is a tool just like television, radio or print," Stecker said. "You have to understand it and then figure out how to make it work for your credit union."
 
Most of the credit unions represented in the group were active on social media. Facebook was the most commonly employed platform, but most credit unions maintained a presence on Twitter and LinkedIn as well. Stecker counseled the group to make sure that they commit to quality posts and a consistent schedule.
 
In the open discussion, participants agreed that there is an undeniable need for credit unions to participate in social media. Stecker noted that participating in social media makes organziations appear more in touch with their audience in a 24/7, connected world.

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Chartway raises record $1M for We Promise

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VIRGINIA BEACH, Va. (10/2/14)--Chartway FCU's charitable arm, the We Promise Foundation, has reached the milestone of raising $1 million in fundraising in a single year for the first time in the foundation's history.​
Click to view larger image To make the We Promise child champions feel special and to celebrate their big day away from the hospital, We Promise volunteers welcomed children who arrived via limousine and gave them high-fives as the kids traveled to and across a red carpet rolled out just for them. (Chartway FCU Photo)
The organization reached the mark during its annual two-day fundraising rally that includes a black-tie gala and a charity golf outing.
 
All proceeds from the two events and all of the foundation's fundraisers this year will benefit children in the markets the Chartway family of credit unions serve. Since launching the foundation, Chartway FCU's We Promise Foundation has raised nearly $7 million.
 
"We could not do the important, life-enriching work we do without each and every one of our supporters and volunteers," said Ron Burniske, president/CEO of the $1.9 billion-asset, Virginia Beach, Va.-based credit union. "Although we have been honored to make a difference in the lives of nearly 2,000 children, I think it's safe to say that their stories of hope and hardship have dramatically changed ours."
 
Joining the foundation for the two-day benefit was actress Gail O' Grady, a multiple Emmy nominee for the "NYPD Blue" TV series and current star of ABC-TV's drama "Revenge;" alternative rock band the Gin Blossoms; LPGA player Jill McGill; and 20 We Promise kid heroes.
 
Click to view larger image LPGA pro Jill McGill had the opportunity to meet 10 We Promise children during the ninth annual Diamonds in the Sky Gala in Virginia Beach, Va. (Chartway FCU Photo)
Emceed by O'Grady and former local TV news anchor Kerri Furey, the Diamonds in the Sky Gala featured a cocktail hour, a silent auction, dinner and live entertainment by the Gin Blossoms.
 
Professional auctioneer Kyle Hause also treated the 415 guests to a live auction with 9-year-old Anastacia as his assistant. Anastacia, along with other We Promise children who attended the gala, created the pottery featured in the silent auction.    
 
The following afternoon, a full flight of We Promise supporters had a chance to tee off with McGill at the 16th annual Charity Golf Classic. Joining the 144 tournament golfers were 10 We Promise children who arrived by limousine and received cheers and high-fives from We Promise board members and volunteers as they traveled across a red carpet rolled out just for them.

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CUNA OpSS Council bestows inaugural professional award

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MADISON, Wis. (10/2/14)--The first-ever CUNA Operations, Sales and Service (OpSS) Professional of the Year Award was presented last month to Stephanie Finck, vice president of operations for First Community CU, Jamestown, N.D., with $492 million in assets.

Stephanie Finck, vice president of operations for First Community CU, Jamestown, N.D., was honored with the first-ever CUNA Operations, Sales and Service Professional of the Year Award. (Credit Union National Association Photo)
The award was presented at the CUNA OpSS Council Conference, which took place Sept. 21-24 in Las Vegas.

"It was a really tough choice between all the stellar nominees, but in the end, Ms. Finck's history, attitude and accomplishments clearly shone the brightest," said Dave Tate, awards chair and vice president of operations, Anheuser-Busch Employees CU, St. Louis, with $1.4 billion in assets.

Finck was recognized for her role in improving First Community's guaranteed asset protection/auto deductible reimbursement sales penetration, and for the implementation of Kasasa across the credit union's membership base.

"Kasasa provided a unique win/win solution to make or save the member and the credit union money," Finck said in a statement.

Finck also was recognized for her sales and service initiative, which stood out for its depth, and for her well-thought-out approaches and full inclusion of front-line and back-office staff.

The award was developed by the CUNA OpSS council to recognize individuals who exemplify excellence in credit union operations. The individual should demonstrate consistent excellence for the benefit of his or her credit union, provide outstanding direction to credit union staff to maximize service to members, and be a leader of their credit union's culture.

Finck and her work for First Community will be featured in an upcoming issue of Credit Union Magazine .

For more information, use the resource link below and click on Professional of the Year in the Events pull-down menu.

Workforce education benefits from Biz Kid$ grant

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VACAVILLE, Calif. (10/2/14)--A Biz Kid$ financial education grant is helping arm California students with financial knowledge and skills as they prepare to enter the job market.
 
Click to view larger image Mark Miller, a vocational specialist with the Solano County Office of Education's Career Technical Education-Workforce Division, leads a presentation of the Biz Kid$ program at Vaca Pena Middle School in Vacaville, Calif. (National Credit Union Foundation Photo)
Travis CU, Vacaville, Calif., with $2.2 billion in assets, received a grant from the National Credit Union Foundation that helped create a work-ready certification (WRC) program with the Fairfield-Suisun Chamber of Commerce, Solano County Office of Education and the Fairfield-Suisun Unified School District.
 
By helping validate that students have necessary entry-level skills--identified by the local business community--the program supports students as they enter the workforce.
 
The WRC program uses the Biz Kid$ financial education curriculum, which is sponsored by the credit union. It teaches students how to make and manage their money, sharpen entrepreneurial skills and succeed at financial planning.
 
"Work-ready certification makes a practical connection between the education and experience students learn in high school and the essential requirements of the world of work," said Jay Speck, Solano County superintendent of schools. "When students are knowledgeable about the skills necessary for success in the workplace, they will have the confidence and knowledge to apply and successfully obtain employment."
 
As part of the WRC program, Biz Kid$ was implemented in all six school districts of Solano County, which serves mostly low-income students.
 
"As a stakeholder in our community, Travis CU strives to empower our members and communities with information and knowledge that helps them understand their options, make smart choices, and take charge of their financial lives," said Sherry Cordonnier, the credit union's director of corporate relations.
 
"Credit unions can use the Biz Kid$ program to make a difference in their communities and improve people's financial lives," said Danielle Brown, NCUF director of development and donor relations. "As Travis CU's efforts demonstrate, there are so many ways the program can be used to teach kids the skills they need to be financially literate."

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