Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

CU System Archive

CU System

MCUA elects exec committee

 Permanent link
JEFFERSON CITY, Mo. (4/9/08)--The Missouri Credit Union Association (MCUA) board of directors has elected its Executive Committee for 2008, and has welcomed a new member to the board. Jim Cauble, president/CEO, Cape Regional CU, Cape Girardeau, was elected to the board for the South Region. Cauble replaces Kirk Mondy, president/CEO, Poplar Bluff (Mo.) FCU, who retired from the board.
Betty Clark, president/CEO of United CU, Mexico, Mo., will serve her second term as chair of the MCUA board. Other members of the Executive Committee include: Stan Moeckli, president/CEO, Electro Savings CU, St. Louis, as first vice chair; and Dennis Pierce, CEO, CommunityAmerica CU, Kansas City, as second vice chair. Both were elected to second terms in these positions. Other MCUA board directors include:
* Tony DiGiovanni, president/CEO, CSD CU, Kansas City; * Brian Eyestone, president/CEO, Southpointe CU, St. Louis; * Judy Hadsall, president/CEO, CU Community CU, Springfield; * Janet Honse, president/CEO, Rolla FCU, Rolla; * Hubert Hoosman Jr., president/CEO, Vantage CU, Bridgeton--Ex-officio member; * Nina Pilger, president/CEO, 1st Financial FCU, St. Charles; * Carolyn Ross, president/CEO, Northland Teachers Community CU, Gladstone; and * James Spafford, president/CEO, Postal & Community CU, St. Joseph.
Executive Committee elections took place at the MCUA board meeting, held prior to the Annual Advocacy and Business Meeting in Jefferson City, March 31-April 1.

First Basin CU to hold elections

 Permanent link
ODESSA, Texas (4/9/08)--First Basin CU has scheduled an annual meeting to hold elections for its next board of directors on Tuesday at 7 p.m. “With the amount of dissention and struggle that have gone on, I hope people get the message that it makes a difference to show up and vote,” said member Tom McKelvey. First Basin attempted to convert to a mutual savings bank earlier this year. However, the credit union decided to suspend its Feb. 21 vote on the proposed charter change. The vote was suspended for a “number of reasons,” wrote CEO Shem Culpepper in a letter to members (News Now March 6). He cited “false statements” that had circulated about the conversion. Some members of First Basin CU opposed the charter change and formed the group “Save First Basin,” headed by Letty Moreno. She told News Now (Feb. 29) that members who opposed the conversion had planned to run candidates in the election. Moreno said in a statement Monday that the members did not know which directors were running for re-election. A call to First Basin by News Now was not returned by press time.

CU shooting suspect charged in I-64 shootings

 Permanent link
WAYNESBORO, Va. (4/9/08)--A 19-year-old Virginia man charged with allegedly firing gunshots into a closed credit union also has been charged in shootings that injured two people on Interstate 64 between Waynesboro and Charlottesville, Va. Slade Allen Woodson, 19, of Alton, Va., now is facing 17 felony counts, 15 in Abermarle and two in Waynesboro (C-ville.com April 8). DuPont Community CU (DCCU), Waynesboro, reported that during the night of March 27, while the office was closed, shots were fired at the building and a repossessed car on the premises (News Now March 31). No credit union employees or members were involved or affected. A surveillance tape of the credit union's parking lot helped pinpoint a suspect vehicle, an AMC Gremlin. Woodson owns an orange 1974 Gremlin. A 16-year-old male also faces 10 felony counts related to the I-64 shootings. He has not been charged in the credit union shooting.

Phisher uses CUNA Wal-Mart breach as bait

 Permanent link
MADISON, Wis. (4/9/08)--The Credit Union National Association (CUNA) and Wal-Mart Stores have shut down a new e-mail phish attempt purportedly from CUNA and advising of a Wal-Mart data breach. "This scam is notable for several reasons," said Kevin Knope, director of Web services at CUNA:
* "It mentions a specific incident--a Wal-Mart breach--rather than the generic 'your account has been compromised.'" * It does not state that the account has been locked. Instead it offers a benefit of "enhanced card security." "In more generic terms, it doesn't make a claim of urgency," said Knope. * It provides a link to a legitimate third-party sight, in this case an antiphishing site, http://www.nophishing.org.
The message says CUNA is aware of a recent breach at Wal-Mart and its "Customer Security Team" is taking proactive steps such as gathering information and re-issuing compromised cards if necessary. It encourages recipients to review their account and report suspicious activity, and it recommends they activate an "enhanced card security," at a phone number provided. It also warns recipients to be alert to scams and not provide any personal or account information to anyone e-mailing or calling who claim to be from Visa and MasterCard. It offers more information about fraud through a link to the legitimate www.nophishing.com site. CUNA took immediate action to stop the phish. "CUNA and Wal-Mart have been working on the problem in parallel, and the number is offline as of this morning," Knope told News Now Tuesday. To review the entire phish message, use the first resource link.

Michigan regulator OFIS changes name--now OFIR

 Permanent link
LANSING, Mich. (4/9/08)--Michigan's state credit union regulator has changed names, from the Office of Financial and Insurance Services (OFIS), to the Office of Financial and Insurance Regulation (OFIR). The change, plus a restructuring of the office, was part of an executive order by Gov. Jennifer M. Granholm. The order went into effect Sunday. "Renaming OFIS the Office of Financial and Insurance Regulation should reinforce for Michigan consumers and businesses the fact that we're in the business of financial oversight of the Michigan financial service sector--including banking, insurance and securities," said OFIR Commissioner Ken Ross. "New name, same focus--protecting Michigan consumers." The agency's website is now www.michigan.gov/ofir. Granholm's executive order also created a new position of Automobile and Home Insurance Consumer Advocate, which will be housed in OFIR. Among the institutions OFIR regulates are 233 credit unions.

Co-op ad campaign underway in Michigan

 Permanent link
PLYMOUTH, Mich. (4/9/08)--The Michigan Credit Union League launched its 2008 Cooperative Advertising campaign Monday. The campaign, Michigan Credit Union Brand Campaign (MCUBC), was launched with state credit unions’ annual media campaign on television, cable and radio. Ads will run on television for 10 weeks in all major markets. In small markets where TV is not practical, cable or radio ads will run for six weeks. The campaign is voluntary. About 54% of credit unions in the state are participating--with 34 credit unions participating for the first time. About 160 of Michigan’s credit unions and five chapters financially supported the campaign, and 15 other credit unions have made commitments. “We’ve made cooperative advertising part of our high priorities,” David Adams, Michigan Credit Union League (MCUL) president/CEO, told News Now. Along with advertising, the league has grassroots lobbying and community reinvestment in its three-tiered approach to growing the credit union movement. “It’s like three legs to a stool,” he said. “It’s part of getting the message out.” Michigan credit unions have participated in cooperative advertising for 20 years. “We’ve been at this for a long time,” he added. Credit union contributions to this year’s campaign total $823,484. The league approved $641,463 in matching funds--equal to the amount contributed by credit unions by Feb.1. The total media budget is nearly $1.5 million. The campaign’s television and radio ads tie into Michigan’s economy. They feature an educator and factory worker discussing how credit unions help people when other financial institutions don’t, Adams said. The league also has marketing materials--including lobby posters, statement stuffers, take ones, counter cards, direct mail and print ads--that can be used by credit unions to target membership. The theme “ties into the social mission of credit unions,” Adams said. MCUL uses pre- and post-campaign research metrics to measure the perception and awareness of credit unions as a primary financial institution and provider of products and services. “As we’ve stepped up cooperative advertising, we have very strong levels of credit union awareness,” he said. Cooperative advertising is not shared-cost marketing, Adams emphasized, even though the league’s campaign may appear to function as such. It’s an advocacy effort. “It helps with growth challenges,” he said. “We have great plans for the future.”

CU System briefs (04/08/2008)

 Permanent link
* LATHAM, N.Y. (4/9/08)--New York State Assembly Banks Committee Chair Darryl Towns (D-Metropolitan), second from left, praised credit unions during a speech at the 86th annual membership meeting of Melrose CU, based in Briarwood. Towns told of his whole-hearted support of credit unions and how the efforts they put forth in their communities have earned appreciation across the state. The more he learns about credit unions, the more impressed and supportive he is of their not-for-profit status, he said. Alan Kaufman, CEO/treasurer of the $900 million-plus asset credit union, said 900 members attended. Pictured with Towns are, from left: Melrose President Sydney Deitz, Towns, Marketing Director Robert Nemeroff; and Supervisory Committee Chairman Paul Cynamon. (Photo provided by the New York State Credit Union League) … * RIVERSIDE, Calif. (4/9/08)--Three members of Altura CU have won a vacation in Hawaii in the credit union's 50th Anniversary giveaway. Every member was entered to win one of three trips to Hawaii. "We decided a trip to the 50th state was a great way to mark our anniversary," said Ricki McManus, senior vice president of marketing. Pictured are, from left, President Gerry Agnes, Hawaii trip winners Maggie Marquez-Falcon and Lorena Urzual, and board member Jerry Rivera. The third winner was Edgar Marroquin-Barrietos. The winners are all from Corona. (Photo provided by Altura CU) … * NORTHVILLE TOWNSHIP, Mich. (4/9/08)--A donation from Jackson, Mich.-based CP FCU to Spring Arbor University will help develop a trading center facility in the new Poling Center for Global Learning and Leadership, which will train students for careers in business and finance. The trading center will have some of the same technology as used by the New York Stock Exchange, according to the Michigan Credit Union League (Michigan Monitor April 7). It will be equipped with dual monitor computers, electronic ticker tape, real-time data board for security price displaces, interactive LCD presentation screen, business news LCD screen, international clocks, a Bloomberg terminal, a specialized teaching bunker and continuous financial news feeds. "Currently, we provide financial education in over 40 schools within Jackson County, and I believe this partnership is a great step in extending our reach further into financial education," said CP FCU President/CEO John Crist …