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NCUA Liquidity Rule Topic of CFO Council Webinar

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MADISON, Wis. (12/18/13)--The CUNA CFO Council and the Credit Union National Association Center for Professional Development will host a 90-minute webinar at 3 p.m. CT Thursday about the National Credit Union Administration's final liquidity rule, which becomes effective March 31.
 
Among the scheduled speakers are:
  • Steve Rick, senior economist, CUNA;
  • Robert Perry, financial adviser, ALM First;
  • Owen Cole, director, NCUA Division of Capital and Credit Markets; and
  • Marito Domingo, chief investment officer, First Tech FCU, Mountain View, Calif.
 The webinar will cover:
  • Key sources of liquidity and diversified funding sources;
  • Calculating meaningful cash flow projections;
  • Running stress tests on cash flow scenarios;
  • Holding a cushion of funding sources; and
  • Best practices and lessons learned--a credit union perspective.
Attendees will walk through a checklist for sound liquidity risk management and have an opportunity to ask questions of an NCUA representative.
 
For more information, use the link.

MY CU Services Finalizes Purchase of AMIS

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MIDDLETOWN, Pa. (12/18/13)--MY CU Services, the payment service and technology credit union service organization of Middletown, Pa.-based Mid-Atlantic Corporate FCU, Monday finalized its purchase of Advanced Management Information Systems (AMIS).
 
With the purchase, MY CU Services adds data processing, and other related core system products, to broaden its electronic payment and technology solutions for credit unions nationwide.
 
"AMIS shares our philosophy on collaboration--believing in the benefits afforded to credit unions when they combine resources and purchase power," said Drew Kishbaugh, MY CU Services president/CEO. "This is winning combination for any credit union wanting to take advantage of high-quality services coupled with economies of scale."   
 
MY CU Services and AMIS previously worked in partnership and share many credit union clients. MY CU Services works with more than 750 credit unions in 48 states.
 
AMIS is based in Carnegie, Pa., and its offices and staff will remain in place.