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LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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Community CU Conference to stress youth underserved

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MADISON, Wis. (7/30/09)--Credit unions attending this year’s Community Credit Union Conference, sponsored by the Credit Union National Association, will learn how to reach out to youth, the low-wealth, and underserved members of their communities. The conference combines CUNA’s YES Summit and the Reach Out! Conference. The YES Summit focuses on youth. Reach Out! focuses on serving low-wealth members, immigrants and youth. The Community CU Conference is scheduled for Oct. 21-24 in Las Vegas at the Green Valley Ranch. This year’s theme is “Share the Vision. Shape the Future.” The conference includes two keynote sessions on leadership:
* “Positively Contagious” will be led by Kirk Weisler, chief morale officer at Team Dynamics. He plans to reveal the behaviors credit unions can adopt to inspire growth, engagement and ownership. * “Fearless Leadership,” with Steve Chandler, author of “Shift Your Mind,” will focus on how credit unions can create a culture of self-responsibility, ownership, innovation and creative response to change and opportunity while demonstrating how to grow an organization through personal example and inspired guidance.
Breakout sessions on Generation Y, mergers and growth opportunities, and a legislative and regulatory update in addition to a pre-conference workshop will be available. The workshop, “Building a Balanced Scorecard for Organizational Performance,” will be run by George Towle, partner at The Rochdale Group. Workshop attendees will discuss how to best evaluate the effectiveness of their board management, and review key strategies and tools on how to improve organizational performance. The 2009 Community Credit Union of the Year awards also will be announced during the conference. Credit unions can follow conference updates on Twitter. Lodging must be reserved by Sept. 25. For more information, use the links.

CUNA Mutual alliance to provide collateral protection

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MADISON, Wis. (7/30/09)--CUNA Mutual Group and State National Companies are partnering to provide tracked collateral protection insurance (CPI) to more than 700 credit unions. CPI is a commercial product that protects the collateral on credit unions’ loan portfolios against uninsured physical damage exposures. Tracked programs generate notices to members who aren’t in compliance with their loan agreement to maintain a minimum level of physical damage insurance. When proof of insurance is not provided, a policy is placed on the collateral to protect the credit union if the collateral becomes damaged and needs to be repossessed. State National is assuming the insurance tracking, underwriting, claims processing and customer service for CUNA Mutual’s tracked consumer CPI business. CUNA Mutual will continue to offer its other collateral protection products, including blanket, immediate issue, real estate, title tracking and several optional coverages. Policies will be underwritten by State National Insurance Co., rated “A” (Excellent) by A.M. Best. CUNA Mutual customers will maintain their CUNA Mutual sales executive as their primary point of contact, with specific tracked collateral protection product expertise and support from a State National expert. Representatives of both companies will deliver credit union staff training.

Paper discusses market spread relative value

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DALLAS (7/30/09)--Credit unions should proactively monitor their asset portfolio profiles including pricing, yields and durations, according to an advisory from Southwest Corporate Investment Services. Credit unions also need to balance the high cost of liquidity against lengthening duration in light of a potential rising-rate environment, the corporate said. The advisory, “How Market Spreads Impact Relative Value,” focuses on the factors that impact asset spreads and evaluates current levels for core and non-core assets. The paper noted that the shape of the Treasury curve has gone from flat to positively sloping and short-term rates have declined significantly more than longer-term rates. Treasury yields are benchmarks for loan and investment market rates. From June 2008 to June 2009, the three-month, two-year and 10-year treasuries decreased 155, 168 and 53 basis points, respectively, the paper said. For more information, use the link.