First-responder Credit Union Newsroom

Coming up is an important date, April 1, 2012, for the Federal Reserve’s interchange rule . On that day, the network exclusivity provisions go into effect for issuers. The interchange rule requires debit card issuers to ensure debit cards may be processed on at least two unaffiliated networks. For example, a credit union could comply by permitting personal identification number (PIN) transactions to be processed on one network and signature transactions to be processed on another, unaffiliated network. Issuers are – of course – free to enable more than two networks if they choose. Debit card issuers must be in compliance with this rule by April 1, 2012. This requirement leads to two other questions. Would it be permissible to comply with this requirement by using regional networks? What should an issuer do if the two unaffiliated networks that it uses merge? The Federal Reserve answered those questions in § 235.7(a)(2)-(4) .  Regional Networks. Sections (a...

Javelin Strategy & Research founder says credit unions need to offer more Web and mobile products or "go the way of the Oldsmobile." **** Bank Transfer Day: Credit Unions Need to Up Technology Game :

Suze Orman discusses the National Credit Union Share Insurance Fund (NCUSIF) insuring the savings of 80 million account holders’ іn а ƖƖ federal credit unions. **** Watch Video At; Suze Orman talks about <b>Credit Unions</b> for NCUA - Bigger Hot News :

Women often don't realize they're having a heart attack because their symptoms are different from the traditional signs depicted in movies and warning materials. The American Heart Association's video "Just a Little Heart Attack," is going viral highlighting 10 often-missed symptoms of heart attack in women.  **** Read More At ; 10 Often-Missed Signs of Heart Attack in Women - Via A Viral Video :

This is an excellent program, and no matter what size your department is, you should be prepared. Scott Ross  talks over issues with Firefighter Richard Conejo who was recently affected by the death of a fellow firefighter . They meet under the auspices of the LA County Fire Department's Peer Support Program. **** Read More ; LA County <b>firefighters</b> help each other cope with toughest part of the job :

Some tech gadgets that once seemed indispensable have been mercilessly superseded over the years, and Research in Motion is trying to avoid that fate for its BlackBerry.**** BlackBerry, Aiming to Avoid the Hall of Fallen Giants :

Check out this article and the slide show that follows to see how some credit unions are getting creative to help build young adult membership.**** Seeking Gen Y as Credit Unions Invest in Members of the Future: Online Only :

Check out this article and the slide show that follows to see how some credit unions are getting creative to help build young adult membership.***** Seeking Gen Y as Credit Unions Invest in Members of the Future: Online Only :

The Obama administration is taking another swing at improving its main foreclosure prevention program.  **** Obama expands foreclosure prevention program :

Tim Smith blogs on the "Echo Boom", also known as Generation Y (Americans born between 1980 - 1995). Tim has previously appeared here discussing his generation's attitude towards homeownership and education. They don't date, they hook up. They don't marry, they cohabit. They prioritize parenthood more than anything, even when they remain single. Who ...****   Hooking Up With Gen Y - Challenge for Business : ??

My upcoming piece on ESPN?s mobile website yielded a trove of useful advice about how companies can improve their mobile web experiences for their customers. For people who don?t want to wait until Monday (mobile people hate to wait!) I thought I would extract the take away bits into a handy package. So here are ... **** Top Ten Tips from the Experts on Making Better Mobile Web Experiences : 

The NCUA achieved a rare feat this week when it released its proposed rule on troubled debt restructuring: favorable reviews from two of its most frequent critics. **** TDR Rule Draws Praise from Trades, Explanation from Matz :

5. Make your speaking personal – talk to individuals. Many people have been told to talk the foreheads of the audience, or look just over their heads. That’s the wrong approach *****  Read More At;  by Nick Morgan   #5: 5 Blogs. 5 Days. 5 Quick Takes for Improving Your Speaking in 2012. : .

The rule would allow credit unions to report TDRs based on their original contract terms, removing the current requirement that TDRs are reported as delinquent for six months based on the original contract terms. In addition, credit unions will not need to maintain TDRs in nonaccrual status until they receive six consecutive payments. NAFCU has persistently sought for some time to mitigate the burden that each of these two current requirement pose for credit unions. **** Read More At; NCUA proposes eased TDR reporting NAFCU

Three Central Ohio credit unions are merging to cut costs and boost services in a deal that also will allow each to maintain their names. Members First , Powerco and Western credit unions say the combination is expected to trim back-office and ... **** <b>Credit union</b> trio merging, but keeping their identities :

A group of U.S. credit unions and supporting organizations have come together to assemble prosthetic hands to help civilians in northern Afghanistan who have ... **** U.S. <b>Credit Unions</b> Collaborate in Afghan Prosthetic Hand Project <b>...</b> :

NCUA Supports Regulatory Relief in Loan Modification Proposal Board also Finalizes Interest Rate Risk Rule, Proposes Derivatives for Credit Unions to Hedge Interest Rate Risk ALEXANDRIA, Va. (Jan. 26, 2012) – The National Credit Union Administration (NCUA) Board convened its first open meeting of 2012 at the agency’s headquarters here today and unanimously approved three items: READ MORE AT ;  Board Action Bulletin January 26, 2012

Approximately 45% of federally insured credit unions would have to develop extensive interest rate risk management policies that include extensive use of risk measurement systems and internal controls, according to a rule issued by the NCUA today. **** READ MORE; NCUA Issues Interest-Rate Risk Rule: On-Site Coverage :

ALEXANDRIA, Va. — The NCUA board approves rule requiring FCUs to to have written loan workout policies and calculate and report troubled debt restructuring loan delinquency based on restructured contract terms. *** Read More At ; Troubled Debt Restructuring Proposed Rule Approved by NCUA: Onsite Coverage : 

The FOMC believes that by keeping rates lower for a longer time, it may boost a variety of lending markets that are related to it, the economist said. “But with rates already low, this is not likely to make economic waves,” he cautioned. “The time extension of the historically low federal funds rate will make improvements on interest income more difficult for credit unions.” Ultimately, credit unions should plan accordingly for the extension of the low-rate environment. “They should expect interest income to remain tepid,” he said. Read More At; FOMC extends interest rate pledge NAFCU

Don't fall into the Power Point Triangle of Death! I have seen so many speakers, even confident, highly paid speakers, talk to their slides instead of the audience. It’s a dead giveaway that **** Part IV 5 Quick Ways to Improve Your Speaking in 2012. :

Three teams led by celebrity chefs will compete in the kitchen at LAFITTE RESTAURANT, with CSE, the LOS ANGELES FIREMAN'S CREDIT UNION , and FIREFIGHTER ... **** KCBS/S.F. Holding Cooking Competition To Raise Money For Firefighters :

What are the 5 most important quick ideas for improving your public speaking? I’m going to go for broke this week and blog on 5 quick takes in 5 days. Put them together and you should have a good ‘cheat sheet’ for fulfilling your resolution to improve your public speaking in 2012. 3. Don’t start with Power Point. Most people create a presentation by sifting through the collection of slides they’ve accumulated – and  Read More;  by Nick Morgan     #3: 5 Quick Takes for Improving Your Speaking in 2012 :

The credit union industry posted accelerating loan volume and member growth in the fourth quarter....[ Read Article ]

Sluggish economic growth cited in decision to leave overnight rates near zero.**** Read More At; Fed Unlikely To Change Rates Through 2014 :

Recently enacted Facebook policy A South Bend (IN) firefighter was demoted for taking cell phone video of a fire. The firefighter now faces a possible 30 day suspension for taking cell phone video of a recent fire incident, an accident which goes against the fire department's recently ...  Read More At *** IN <b>Firefighter</b> Demoted for Taking Cell Phone Video of Fire :

Tracking total return provides multiple insights for ongoing asset and liability management and investment options **** The Power Of Total Return For Balance Sheet Management :

2. Don’t do Q and A at the end. Most people who have an hour speaking slot talk for 45 minutes or so and then take questions. Here’s the problem with that. People’s attention spans last **** Read More At;   by Nick Morgan     2: 5 Blogs. 5 Days. 5 Quick Takes for Improving Your Speaking in 2012. : 

What are the 5 most important quick ideas for improving your public speaking? I’m going to go for broke this week and blog on 5 quick takes for fast quality enhancement in 5 days. Put them together and you should have a good ‘cheat sheet’ for fulfilling your resolution to improve your public speaking in 2012. **** b y Nick Morgan 5 Quick Takes for Improving Your Speaking in 2012 ; Step 1 .

One of the toughest things about running a business is the feeling of loneliness and isolation. You are on your own and nobody supports you because it's hard for them to see what you see and feel the excitement that you feel at the critical stages. This is especially true if you run your small ...**** 10 Ways Top Business Leaders Avoid The Loneliness :

Company Donating An Additional $10000 to Firefighter Charities ... President and CEO Mike Mastro of Los Angeles Firemen's Credit Union states, “Firefighters' ... **** CSE Insurance Group Sponsors A Blazing Hot Chef Competition <b>...</b> :

New network comprises more than 1,700 credit unions, 4,400 branch locations and 2,200 kiosks in 7-Eleven stores. **** CO-OP, FSCC Complete Shared Branching Merger :

Just a friendly reminder that the physical access and speech output requirements for ATMs go into effect March 15, 2012. The speech output requirement applies to all ATMs on March 15, 2012. The new physical access requirements apply to ATMs that are altered or added after March 15, 2012. Existing ATMs would not need to be modified to meet the new physical access requirements. **** Deadline Approaching for ATM Compliance with ADA Standards; 12-FCU-01 : Written by JiJi Bahhur, Regulatory Compliance Counsel

A home price bottom could stimulate real estate demand, but contrarians are betting against a recovery in 2012.In fact, Lance Roberts, CEO of StreetTalk Advisors, is pushing back at reports claiming affordable home prices will lure consumers. Despite affordable prices, Roberts says consumers are too over-leveraged to buy a home and unable to qualify for a [...] Home prices bottoming out? Not so fast :

August Kirchoff finally got his chance: He was asked to serve with the Peoria firefighters he long had helped and admired. He frequently and eagerly would do grunt work around the firehouse. But when a conflagration at a brewery pressed ...**** Read Complete Story At; Luciano: Peoria's first <b>firefighter</b> death: A teen in his first hour of service : By PHIL LUCIANO

Leaders are responsible for setting the company's vision, being the change agent, promoting continuous learning, leading strategy, and maintaining the company's values and culture. A pretty light workload, huh? An effective leader can spur innovation, elevate a company high above its competitors, and empower employees to accomplish things they never thought possible. On the ...**** Four Traits of Effective Leaders You Should Steal Today : 

WASHINGTON, D.C. -- Nine states across the central U.S. will participate in The Great Central U.S. ShakeOut on Tuesday, Feb. 7 at 10:15 a.m. CST. This second annual central U.S. ShakeOut is a public earthquake drill organized and coordinated by the Central U.S. Earthquake Consortium and its Member and Associate States, the Federal Emergency Management Agency (FEMA), the U.S. Geological Survey, and dozens of other partners. FEMA is encouraging everyone across the central United States to participate in the event, including schools, businesses, governments and other organizations. *** Read More At ; FEMA Encourages Americans Across the Country to Join More Than One Million in Public Earthquake Drill :

One thing that has surprised me over the years is the popularity of short-term CDs. Several of my friends and colleagues would never consider CDs with maturities over one year. The 6-month term was often the most popular. It appears my friends weren't unusual. I reviewed call report data from the NCUA for two large credit unions, and the data shows more deposits in short-term CDs than long-term CDs. Read More ; Value of Short-Term Certificates of Deposit?

Several credit union trade publications have sounded the alarm that the Suze Orman prepaid debit card program, “Approved,” could cost the industry a bevy of bucks. Orman touts her card, currently in the pilot program stages, ... **** Read More; <b>Credit Unions</b> May Say "No Thanks" To Suze Orman Prepaid Debit Card : by Gina Ragusa

Non-interest income is an important metric for any credit union. How did it fare in 2011, during the calm before the Durbin Amendment storm?...[ Read Article ] Non-Interest Income Steadily Improves :

If you're thinking about jumping ship from your credit card company, now's the time to think about switching to a credit union too. Here's why: Credit card ... <b>Credit Unions</b> Are Bringing Out The Big Guns And Getting Ready To <b>...</b> :

The estimation of the allowance for loan and lease Losses has been a part of the financial institution’s accounting processes for years, but it has taken on increased importance over the last several years. **** Read More At; Guest Opinion: Loan and Lease Loss Challenges :

Those tapped into the needs of Generation Y are encouraged that this segment of the population would be attracted to credit unions if they knew the cooperatives could help face challenges with their retirement goals. **** More At; Gen Y’s Retirement Woes Could Draw Them to Credit Unions :

 MAUI — After the NCUA came out with its board of directors regulation last year, the question arose as to where volunteers’ risk exposure had increased greatly. **** Read More; Credit Union Directors’ Risk Not Increased ‘Greatly’: Onsite Coverage :

Mortgage loan applications surged 23% last week, according to the Mortgage Bankers Association, as record-low interest rates convinced many homeowners it was time to refinance into lower-cost loans.  **** Mortgage applications surge amid record-low rates :

An interesting survey came out this morning detailing the marketing goals of banks and credit unions for the coming year. What intrigued me most was not that ...  Read More At; Is it game time for <b>credit unions</b>? « new york's state of mind : If your credit union does not market in a way that meets these up-and-coming consumers on the websites where they are playing their games and interacting with their friends and neighbors, the best service in the world won’t save your credit union. Some of you are probably chuckling since your average member is distrustful of using ATM machines and is certainly not inclined to find out about the latest offerings at your credit union while playing games on the Internet. But remember, if you don’t move aggressively to at least make sure that you have the infrastructure in place to market effectively over the Internet in the near future, the next generation of potential members may not even know your credit union exist...

It is with deep regret that we advise you that Firefighter III Duane Ibarra, 50, of the Maui County Fire Department, died in the Line of Duty last night (Wednesday 1/18/2012) at the Makawao Fire Station while on duty. Firefighter Ibarra was found unresponsive and later pronounced dead. Our sincere condolences to the members of the MFD and family of FF Duane Ibarra. FF Ibarra was a 20 year veteran of the Department. RIP....Read More At; MAUI COUNTY FIREFIGHTER LINE OF DUTY DEATH-MEDICAL EMERGENCY :

 A veteran Hopelawn Firefighter was among 2 people who died as a result of a house fire. FF Bruce Turcotte, 58, of the Hopelawn section of Woodbridge was pronounced dead shortly after 3 p.m. at JFK Medical Center in Edison. Turcotte, a member of the Hopelawn Volunteer Fire Department, apparently suffered a heart attack. He was laying hoses when he collapsed at the scene. A longtime Firefighter, Turcotte is from a family of firefighters in Hopelawn-including his son. RIP....Read More At ; UPDATE: NEW JERSEY FIREFIGHTER DIES OF A MEDICAL EMERGENCY WHILE OPERATING AT A FATAL HOUSE FIRE :

First meeting of 2012 set for next week, includes issues of considerable importance to credit unions. The agency said in its proposed rule that federally insured credit unions with assets of more than $50 million and smaller ones with potentially risky loan portfolios are required to have policies to evaluate the institution’s interest rate risk exposure, set risk limits and test for interest rate shocks. Federally insured credit unions with assets of $10 million to $50 million would have to comply if they hold first mortgages and investments with maturities greater than five years that are equal to or greater than 100% of their net worth.   Read More; NCUA Board to Deal With Interest Rate Risk, Loan Workouts, Derivatives :

NAFCU  Jan. 19, 2012 – NACHA – The Electronic Payments Association announced a microsite yesterday that can help credit unions and their members better understand the ACH payment network and NACHA’s operating rules. The site was launched as part of NACHA’s “New Year, New Messaging” initiative, which seeks to provide industry participants with consistent messaging, term definitions and phrasing to use when explaining the ACH network and payments. The microsite provides information on direct deposits and direct payments via ACH. It also includes an FAQ section and communication resources such as press releases, standardized messaging for social media and letters that credit unions can use to inform their members about the ACH network. In announcing the microsite , NACHA encouraged all network participants to review the site’s resources and incorporate the new terminology, phrasing and messaging in their communications.

Have a child or grandchild headed off to college? It's becoming a familiar story, university experiences are increasingly being characterized by: impractical learning, out-of-touch faculty, exorbitant tuitions, time-wasting requirements and diminishing probabilities of employment. At the same time, we are living in an era when many of our heroes ??? , , , , , just to mention a few ??? are university drop-outs, ...***** Read More At; Disruption: Coming Soon to a University Near You :

Research firm says 530 million by 2013, up from 300 million in 2011. **** Read More At; Mobile Banking to Be Used by a Half-Billion by 2013: Juniper Research :

Jan. 18, 2012 – NAFCU’s membership rolls continue to swell with the recent addition of five new members – Vantage West CU of Tuscon, Ariz., San Diego Firefighters FCU of San Diego, None Suffer Lack FCU of Suitland, Md., Hawaii Central FCU of Honolulu and New Brunswick FCU of Edison, N.J. Vantage West was originally chartered in 1955 to serve military and civilian personnel working on Davis-Monthan Air Force Base in Tuscon. The credit union has $1 billion in assets and approximately 109,000 members. San Diego Firefighters FCU was chartered in 1984. Since opening its doors, San Diego Firefighters FCU has grown to more than $77 million in assets and 3,500 members. None Suffer Lack FCU was chartered in 2001 and has about $15 million in assets. None Suffer Lack is a faith-based credit union that serves members of The Heart Church Ministries and their immediate family members. Hawaii Central FCU and New Brunswick Postal FCU also joined the association recently. Hawaii Central was charte...

Federal credit unions could be stepping up their game against major credit card lenders in the US, as they're able to offer lines of credit with more beneficial terms to consumers, according to a report from Business Insider. ... **** <b>Credit Unions</b> Predicted as Next Major Lenders :

The fireman in me could not let this get by! No shortage of police available for this duty!        The LA City Council approved a mandate requiring that all actors in pornographic films wear condoms when filming within city limits  The new mandate will allow the Los Angeles Police Department to perform spot checks on any set once a film permit is issued. . ****  Read More At; Los Angeles Makes Condoms Mandatory for Actors in Sex Films :

Credit unions will face a challenge meeting income needs in the coming year as deposit growth has been strong but loan demand is still limited. Investment portfolios are taking center stage as credit unions must invest these excess deposits in a time when yields are low and risks are high. **** Read More At; Invest Deposits Wisely

Cordray says focus will be on those who "materially increase the risk of violations of federal consumer laws." **** CFPB Issues Guidelines For Examining Mortgage Originators :

You would have thought that they were at one of our conferences. I am sure our conference this year will cover many of the topics that they discussed and more. Can't wait!!!!! What was billed as a presentation on essentials in credit union board financial education essentials evolved into discussion of topics ranging from the NCUA’s director education requirements to peer comparisons. **** From Financials to the NCUA, Schumacher Takes What Comes to Him

The ramifications of the proposed new standards are huge, and you can expect significant confusion in the early years of implementation. Expect significantly higher allowance for loan loss balances, and as a result, lower levels of capital for all banking institutions. **** Read More At; A New Accounting Model For Loan Loss Allowances

And you think we have issues!! By Finfacts Team The Irish Independent reports that the Central Bank will have to take control of several more credit unions this year as huge numbers of borrowers are unable to repay their loans. Senior financial sources told the Irish Independent ...*** Read More; Tuesday Newspaper Review - Irish Business News and International Stories <b>...</b> : See all stories on this topic » FinFacts Ireland

ByBrian O'Connell It's no secret that mobile payments are growing by leaps and bounds. It's not hyperbole to say that mobile payments are the future of financial transactions, especially in the consumer-to-business marketplace. Is that future happening sooner than you might think? It looks that way- if a new report from Forrester Research and PayPal has ... **** Read More; Mobile Payments Could Replace Cash By 2016 :

We as firefighters tend to fall into a routine. For some of us, the routine is one that we do to make sure that our PPE, SCBA, meters and thermal imagers are ready for use. Sometimes the routine turns into a rut… we take the offgoing shift's word ...  When we become complacent, we may not don all of our gear or get off the rig without scba and tools. The day that we have heavy fire and smoke showing from that address, we will look like a bunch of monkeys attempting to fornicate with a football trying to get geared up and looking for tools. **** Read More; Complacency – Backstep <b>Firefighter</b> :

VISA USA has made some recommendations for how to implement the shift from magnetic stripe payment cards to those which use a chip for authentication and seems primarily concerned with explaining that the new chip cards will not need associated personal identification numbers. ****Read More; Visa Emphasizing That New Cards Will Not Need Offline PINs

Laurie Goodman is an apolitical number cruncher who has spent most of her 28-year career out of the public view, studying the minutiae of mortgage-backed securities (MBS) for big investment banks. She's long been a star among Wall Street insiders, however. She holds the record for the most top rankings for fixed-in-come research from the trade bible Institutional Investor.  **** READ MORE AT; Housing: The one bailout America could really use

Entrepreneurs are all about firsts, and the most important is you making a great first impression - on investors, customers, new team members, and strategic partners. Poor first impressions can be avoided, but I'm amazed at the number of unnecessary mistakes I see at those critical first introductions, presentations, and meetings. The key message here ...**** 7 Ways to Avoid a Poor First Impression in Business :

Twenty-four million Zappos customers are getting an unpleasant Sunday-evening surprise. The Amazon-owned e-commerce firm has revealed that it was the target of a cyber attack that gained access to its internal network, including the accounts of 24 million of its users. Though the company says that no complete credit card numbers were revealed in the ...**** Zappos Says Hackers Accessed 24 Million Customers' Account Details :

An armed Fort Bragg soldier opened fire on first responders in Fayetteville Friday evening. The incident began around 10 p.m. at the Austin Creek apartments on Capeharbor Court when police say, Staff Sgt. Joshua P. Eisenhauer began firing at firefighters responding to a fire call.Police were called in, and several officers and firefighters were pinned down as the soldier opened fire.Investigators say Eisenhauer then retreated back into his apartment, prompting an evacuation of nearby units.Crisis Team negotiators were called in and tried to make contact with the suspect for several hours, but were unable to do so.Around 2:30 a.m., the Fayetteville Police Emergency Response Team used explosives to take out the front door and sent a robot in to survey the scene.The robot discovered the suspect lying on the kitchen floor. He was taken into custody and initially taken to Cape Fear Valley Hospital for treatment.Later Saturday morning, he was transported to the UNC Hospital where he was list...

Photos: Gregorio Borgia / AP A passenger from South Korea, top left, disembarks from an Italian Firefighter boat after being rescued from the luxury cruise ship Costa Concordia which ran aground the tiny Tuscan island of Giglio, Italy, Sunday, Jan. ... Cruise captain under scrutiny, another body found : See all stories on this topic »

Even small credit unions spend thousands a month on meeting the regulatory burden. Find out more in this sneak peek at an article from the next print edition of Credit Union Times. **** Rising Cost of Compliance: Print Preview :

Of course some credit unions could use the fresh blood while others are losing solid leaders but have a strong, fresh crop coming in behind them. The boomer generation, begat by soldiers returning home from World War II and their partners, ... Women Executives Key to the Success in Succession Planning : See all stories on this topic »

“Foreclosures were in full delay mode in 2011, resulting in a dramatic drop in foreclosure activity for the year,” said Brandon Moore, CEO of RealtyTrac. “The lack of clarity regarding many of the documentation and legal issues plaguing the foreclosure industry means that we are continuing to see a highly dysfunctional foreclosure process that is inefficiently dealing with delinquent mortgages — particularly in states with a judicial foreclosure process." *** Tracking Firm Reports Foreclosures Down in 2011 – But Not Really : " 'via Blog this'

After 25 years in the job, Tun Wai to step down in February. **** Wai to Retire as NAFCU’s Top Economist :

"Simple PC App Access from Anywhere PC Microsoft® Office with 2GB cloud storage FREE* Full-featured document viewing and editing Instant-action, media-rich Windows® 7 cloud desktop Coming soon to Android™, PC, Mac®, monitors/TVs Get the free app for your iPad® here:" **** Read it all at; OnLive Desktop - Simple PC App Access from Anywhere : 'via Blog this'

NCUA says it will begin independent insurance reviews for all federally-insured, state-chartered credit unions in North Carolina as the result of the ongoing release of its CAMEL rating by State Employees Credit Union in Raleigh. Moreover, NCUA said it will no longer be able to work in concert with the North Carolina Credit Union Division and will no longer be conducting joint exams, nor will it be providing or paying for North Carolina examiners' computer equipment, software and training." **** Disclosure of CAMEL Rating Leads To NCUA Break With Regulator - Credit Union Journal Daily Briefing Article : " 'via Blog this'

Lee Chandler  800-786-1245 Vining Sparks is nationally recognized as a leading broker/dealer in serving the investment needs of institutional investors. Credit Unions of Vining Sparks receive access to proprietary analytical tools that assist them in the investment portfolio decision-making process. Just as Vining integrated asset/liability management into the portfolio management process for banks, the firm now assists clients of all types in making decisions that are appropriate based on the client’s specific investment objectives. This assistance is provided through specialized professionals utilizing the proprietary analytical tools mentioned above and is one of the primary reasons Vining Sparks is unique compared with other broker/dealers. Company Profile

All Call Reports, starting with the one being filed later this month for the fourth quarter of 2011, require answers to the following questions: “Does your credit union have more than 50% of its current members and management officials who are Black American, Native American, Hispanic American, or Asian American? If yes, please identify the minority groups(s) that apply.’’ “Does your credit union have more than 50% of its eligible potential members and management officials who are Black American, Native American, Hispanic American, or Asian American? If yes, please identify the minority group(s) that apply.’’ **** Read More; NCUA Asking Questions About Minorities at CUs : " 'via Blog this'

The Federal Financial Institutions Examination Council today released answers to Frequently Asked Questions (FAQs) about the January 2010 advisory on Interest Rate Risk Management. These FAQs are being adopted by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, and the State Liaison Committee (collectively, the “financial regulators”). "  Interagency Advisory on Interest Rate Risk Management Frequently Asked Questions. Click here to view the FAQs. ​ 'via Blog this'

Jim Norris, CEO of Montgomery County Employees FCU, explains how the credit union is securing double-digit growth in its credit card portfolio... Read More and Watch Video; Successful Credit Card Promotion :

Transaction volumes in December 2011 rose on all cards over December 2010, between 6.1% for credit cards and 8.3% for debit cards which are validated with a personal identification number. Transaction volume fell for checks in the same period by 10.2%." *** Read More;  First Data Analysis Tempers Holiday Numbers : " 'via Blog this'

Customers seem to like the speed and directness of sending a question or complaint to their bank by Twitter, the report found. But banks must weigh the implications of responding quickly with the need to protect a customer’s personal and financial information, like bank account numbers. As a result, they’re “struggling” with how to best use the service, Javelin found." **** Read More; Big Banks Struggle to Help Customers on Twitter - NYTimes.com : " 'via Blog this'

Fannie Mae and Freddie Mac say they will extend their existing programs so that unemployed borrowers can defer part or all of their monthly payments for up to 12 months. ****Read More;  Unemployed Mortgage Holders Get Payment Extension :

"Mobile banking is really becoming ubiquitous," But the ways in which consumers engage mobile banking is starting to diverge. Smart-phone users expect quick interfaces for online transactions, while tablet users are more comfortable with transactions that resemble transactions they traditionally conduct on PCs. "When you're on a tablet, it's very comfortable to spend a long time and you want to be able to interact with the program," That means banks and credit unions need better graphical components for mobile tablet banking than smart-phone mobile banking." *** Read More; Mobile Banking: Functionality, Security Top Demands : " 'via Blog this'

While free checking is becoming a little rarer, it hasn’t completely died yet. In fact, it’s possible to find plenty of free checking opportunities, if you just look around a little bit. Because of this, there is absolutely no reason to shell out for a prepaid debit card. The Rise of Prepaid Debit Cards Prepaid debit cards are on the rise as alternatives to checking accounts for the “unbanked” and they are touted as great financial teaching tools for teenagers. While both of these things might be true, it doesn’t mean that prepaid debit cards are best financial tools for the job. *** Read More; Even if Suze Orman’s Name is on the Card Prepaid Debit Sucks : " 'via Blog this'

Vendors are also taking a hard look at the topography of the industry. With contracts expiring, and credit unions in the driver’s seat more so than in years past, certain vendors concede that a new business model is forming which could result in more favorable contractual terms to those credit unions that are willing to take a hard-line when negotiating. This reminded me of something Theodore Roosevelt said: “The best executive is the one who has sense enough to pick good men to do what he wants done, and self-restraint to keep from meddling with them while they do it.”" 2012 – The Year of the Credit Union | Credit Union Business : " 'via Blog this'

We are confident of the NCUA's intentions to avoid disruption for natural person credit unions .” VolCorp Senior Vice President Sandy Swofford said, “In anticipation of [the] US Central closure, VolCorp has already chosen a new ACH provider, ... Corporates React to U.S. Central Closure Plans : See all stories on this topic »

A donation from CSE Insurance and the Los Angeles Fireman’s Credit Union and Firefighter Insurance Services of $9,000 will be made on behalf of the winning team to a program of the California Fire Foundation which gives college funds to children of fallen firefighters and the Fire Family Foundation, an organization that assists our firefighters, their families, fire victims, and California fire departments. " *** Read More; Blazing-Hot Chefs! « Foodie Chap : " 'via Blog this'

Soon after he returns to work next week with Boca Raton Fire-Rescue, Elliott said he plans to follow his brother's footsteps once more by going to Pompano Beach Fire Station 61 and climbing to the top of the 100-foot ladder from which Bill fell to his death on Friday during a training exercise. "I want to be in the same spot he was, to see what he saw, to think and reminisce," Elliott said on Tuesday as tears welled in his eyes. "It is a step I just feel I have to take."" **** Tribute to fallen firefighter will take Boca Raton brother to ladder's top 'via Blog this'

Fed Posts $76.9 Billion Profit for 2011 What to Watch: Mortgage applications for the week ending January 6 rose 4.5%, led by an 8.1% increase in purchase applications. Looking at the four-week moving average (see chart), purchase applications are only marginally higher than their lowest point while refinance applications continue to trend higher." The Market Today : 'via Blog this'

Written by Steve Van Beek NAFCU The transition of the regulations will cause numerous tweaks and changes for credit unions that regulators might view as technical or non-substantive. These tweaks and changes, unfortunately, will require credit unions to take steps to ensure their disclosures are accurate. For example, the move to the CFPB will require credit unions to update their application and account opening disclosures for credit cards. References to the CFPB in Credit Card Application & Account Opening Disclosures One of the changes over the past years to Reg Z required tabular formats for credit card application and solicitation disclosures as well as account opening disclosures for credit cards. One of the required disclosures is information informing borrowers of the ability to obtain additional information from the Federal Reserve's website. For a good visual of this disclosure, view the Fed's G-10(B) Model Form under the "For Credit Card Tips from...

Most successful entrepreneurs will tell you that their primary motivation is to “change the world” and to build something lasting, not to make a lot of money. But the conventional wisdom is that employees work for money, above all else. Yet my own experience," **** Read More; 8 Ways Leaders Can Motivate Employees Beyond Money - Forbes : 'via Blog this'

Jan. 11, 2012 – NAFCU is encouraging credit unions to use social media to get the word out to their members about this year’s America Saves Week, which touts the values of saving money and reducing debt. America Saves Week, which takes place Feb. 19-26, is a national initiative that encourages individuals and families to save money and build personal wealth. More than 1,000 non-profit, government and corporate groups are participating in America Saves." **** CUs can push America Saves on social media | NAFCU :

New and existing home sales increased year-over-year in December, while home prices continued to plummet, hitting levels of affordability not experienced since 1971, the Obama administration said Monday. In its December Housing Scorecard report, the administration said median-income families on average had double the funds needed to cover the cost of a home, but purchase demand [...] Read More; Home sales rise as prices hit historic lows in December

The NFIB small business optimism survey showed a fourth consecutive monthly gain in confidence, increasing from 92.0 to 93.8. Sentiment was boosted by an improvement in economic and sales expectations. The number of respondents who expect to see a positive earnings trend remained largely negative on net, but it did improve markedly from -28% to -22%. Small businesses planning to hire fell slightly but there remained more expecting to hire than those not **** Read More; http://www.viningsparks.com/ext_vs/mktnews/vsother.html

In documents filed Jan. 5 in federal court, the credit union alleged that Reynolds had misappropriated CU funds by hiring family members and friends as contractors and paying far higher than market rates. **** Read More; CEO of Award-Winning CU Accused of Fraud

Jan. 10, 2012 – NAFCU President and CEO Fred Becker, speaking yesterday before a Metropolitan Area Credit Union Management Association meeting in Washington, provided a positive outlook for both NAFCU and the credit union industry despite current challenges. **** Read At; Becker tells MACUMA of industry bright spots NAFCU

"On Dec. 7, 2011, al-Shabab, the al-Qaeda affiliated terrorist group that wants to establish extreme Islamic law in Somalia – and does not shrink from using suicide bombings, along with stonings and beheadings – joined Twitter (@HSMPress). Since then it has used the online tool’s 140-character public messages (or “tweets”) to taunt enemies and spread its propaganda. It now has more than 8,000 followers." **** Read at; U.S. To Twitter: Stop Sleeping With The Enemy - Forbes : 'via Blog this'

"No longer are home loans a quick and easy process. While most companies, including credit unions, have taken every step necessary to streamline their processes and hired numerous staff to handle the increased work, the truth of the matter is each application takes longer for all lenders to process, underwrite and close. For example, the required paper trail when gift funds are used, if disputes exist in the credit report or in how income is allocated are all much more in-depth. Even a refinancing has more stringent requirements and a streamlined loan process no longer exists. Everything is documented. Everything is checked and double-checked." **** Read at; What's Hindering Today’s Home Loan Borrower? : 'via Blog this'

The iPad seems to be doing well among business customers already, but the ability to run business software like Microsoft Office well could make the Apple device even more appealing. A start-up company called OnLive is launching an online app that it says will allow iPad users to do just that. *** Read at; Gadgetwise Blog: Giving Windows on an iPad a Boost :

Throughout the worst economic crisis since the Great Depression, a time when many consumers were struggling financially, credit unions provided much-needed financial services to their members. **** Read At; Expect More Due Diligence, Risk Management Scrutiny :

The tough NCUA financial literacy requirements for credit union volunteer directors came as a loud wake-up call on Jan. 27, 2011. And the provision came with a requirement that all new directors had to gain financial literacy within six months of their election. **** Read At; The Day the NCUA Demanded CU Directors Smarten Up :

In the span of just 12 months, a revolution in financial transactions has occurred. Mobile banking has shifted from nice to have to must have at credit unions across the country as a stampede of institutions have embraced the idea that members demand the convenience of banking from the palm... Read At; Last Year Witnessed a Mobile Banking Lift Off :

The lingering slowdown that is afflicting the U.S. economy is forcing credit unions to pay more attention to collections, a part of their business that is often forgotten or ignored, according to a new report prepared by the CUNA Lending Council. *** Read at; Economy Forcing CUs to Change Collection Methods :

B.C. Forbes, the founder of FORBES magazine, dedicated the first issue to women in business. “Forbes believes her achievements are wide,” he wrote, predicting that women “will soon sit on boards beside men.” **** Corporate Boards: Shifting From Aging Men To New Generation Of Women? :

"There are a couple of tweaks to the CFPB's Reg Z. Sections 226.5a (dealing with credit card applications and solicitations) and Sections 226.5b (dealing with home equity lines of credit) have been renumbered. Section 226.5a is now Section 1026.60. Section 226.5b is now Section 1026.40. Here is from the CFPB's interim rule:" **** Google Reader (2) : 'via Blog this'

Credit unions can expect credit cards to remain a crucial piece of their portfolio in the year ahead, but they must be ready to manage them properly....[ Read Article ] 3 Tips To Strong Credit Card Management :

"Credit cards have long been a high profit product for credit unions, which historically have been able to count on average Return on Assets of 3-6% on their card programs. A recent combination of economic forces and regulatory changes, however, has seriously impaired profitability. With 1-in-8 card portfolios losing money," **** How to Track Profit and Loss : 'via Blog this'

Suze Orman, who offers guidance on personal finance through her books and CNBC show, is bringing out her own prepaid debit card, promising low fees and access to credit reports. *** Your Money: Suze Orman to Offer Her Own Prepaid Debit Card :

"The NCUA "welcomed" a GAO report that essentially said the agency was unprepared to deal with the corporate crisis and has been less than transparent during the corporate resolution process. This report confirms accusations from all corners of the industry regarding the agency’s flow of information. The Wall Street Journal caught wind of it and ran a piece on Jan. 5. The article reported, “The GAO said a lack of documentation opened the regulator to ‘questions about its ability to effectively estimate the total costs of the failures and determine whether the credit unions will be able to pay for these losses.’” " **** Editor’s Column: New Year Rumblings: Some Spoken, Some Not : 'via Blog this'

"With lenders presently so tight-fisted when it comes to credit, a lot of car buyers with rocky credit are facing a really tough road. The conventional institutions that utilised to finance these new vehicle purchases — community banks, credit unions, and even automaker financing wings — just aren’t approving auto loans like they utilised to." 1 segment of the market has been growing by leaps and bounds:  Acquire Here and Pay Here (BHPH) auto sales.  This non-conventional approach of financing entails the dealer acting as the actual lender — a departure from a lot more conventional dealer sales wherein the vehicle dealership and lender are two separate entities. **** A Look into The World of Buy Here Pay Here Auto Sales | Automotive News : 'via Blog this'

"The New Year didn't start off good for savers. Several banks and credit unions lowered their savings and checking account rates. The rate cut that we learned about in December took effect at Alliant Credit Union this week. Another cut that wasn't much of a surprise was at Capital One. The rate of its InterestPlus Savings account for Costco members fell from 0.91% to 0.85%. The rate of the non-Costco version fell to 0.80% in December, so this was to be expected. A cut that was more of a surprise was at " **** Best Bank Account Interest Rates - Summary for Week Ending January 7, 2012 : 'via Blog this'

"New powers for credit unions in England, Scotland and Wales will, from today, enable them to significantly expand the services they offer, and to compete directly with high street banks and other savings providers. Under the new powers, credit unions will be able to **** Credit unions set to expand and take on banks - January - 2012 - Which? News : 'via Blog this'

This is a must view! BioDigital Human: Explore the Body in 3D! : 'via Blog this'

Credit Union House (CU House) is an elegant, federal-style townhome located on Capitol Hill in Washington, DC. It is a symbol of the strength and permanence . With over a century of service behind them, credit unions have established their place in this country. Credit Union House, with its simple elegance and convenient facilities, helps credit unions claim their place in the nation’s capital. .. <b>Credit Union</b> House | For <b>Credit Unions</b> : www.cuhouse.com/for-credit-unions.php

I found this interesting that there is someone who looks this closely at credit unions across the country. Interesting to see how they, credit unions, do what they do to set themselfs apart. NerdWallet loves credit unions . No matter which community they serve, these not -for-profit financial institutions work hard to promote their members' well-being. **** NerdWallet's Top 10 Community-Focused <b>Credit Unions</b> :

A firefighter died Friday afternoon after falling 90 feet from a ladder during a training exercise. The firefighter fell from a ladder at Fire Station 61 at 2121 NW Third Ave. during a training exercise that was set to last all afternoon. Pompano Beach fire officials said the firefighter, identified as 50-year-old William Elliott, was rushed to North Broward Medical Center after the fall and was pronounced dead. Sandra King, of Pompano Beach Fire Rescue, said Elliott was at the top of the ladder, and another firefighter was also on the ladder below him. The other firefighter said he just saw Elliott fall to the ground. King said it is unclear whether Elliott was wearing a harness. The Broward Sheriff's Office said it is investigating. Firefighters and BSO deputies gathered at North Broward Medical Center. The firefighter had been with Pompano Beach Fire Rescue since 1989. FL LODD - FALL FROM AERIAL LADDER AT STATION : ...

"A new job-stress report by CareerCast.com found that firefighters have the second most-stressful job in the country, exceeded only by those enrolled in the military. The job-stress white paper states that 36% of all workers admit they feel tense or stressed out during their workdays, with 20% reporting that their average daily level of stress is an 8, 9 or 10 on a 10-point scale. " Firefighting the Second-Most Stressful Job in the Nation, White Paper Reports (with Related Video) -- Fire Chief article : 'via Blog this'

"Some financial institutions “process transactions in the order received, others in real-time and others the smallest transaction first,” the association said. “No matter which method is selected,” said NWCUA President/CEO John Annaloro, “someone is likely to complain. The key is to make sure members have easy access to all the necessary information and that fee assessments are done in a manner that is consistent and fair.”" CUs Reminded On Overdraft Consistency : 'via Blog this'

"A new year usually brings with it updated thresholds for various regulations. Following are a couple of updated thresholds and, unfortunately, one unknown. " **** NAFCU Compliance Blog: Updated Threshold Levels for 2012; Musings from the CU Suite : 'via Blog this'

The 2012 series begins Jan. 18 with session on fixed income markets. **** CUNA Mutual Webinars Tackles Industry Issues :

"The city’s acting fire chief opposed a plan Thursday to replace as many as six firefighters with less-skilled emergency-medical technicians. City Council proposed replacing retiring firefighters with a combination of full-time and part-time medics to save money." *** Ocean City firefighters oppose council's proposal to replace members with EMTs - pressofAtlanticCity.com: Upper Cape May : 'via Blog this'

MIDLOTHIAN, Va. -- Survivors of the Aug 23 earthquake from the City of Fredericksburg, and the counties of Culpeper, Fluvanna, Goochland, Orange, Spotsylvania and Louisa are eligible for Individual Assistance (IA). How can people in these locations find the information they need? One way is through social media. **** Emergency Management and the Use of Social Media :

A new audit shows the NCUA Corporate Resolution Plan cost credit unions almost $1.5 billion more than previously reported....[ Read Article ] NCUA’s Seizure Of $50B In Corporate Assets Still Unaccounted For :

"By 2015, financial institutions' spending on cloud computing will have exceeded $27 billion, according to a cloud computing white paper from CGI.com." *** Data Management Takes Flight : 'via Blog this'

Every startup, as well as mature business, needs to learn as much as possible from Amazon, Apple, Facebook, and Google, who have set the standards for fast growth and success in today's business world. These companies, designated the "gang of four" by Eric Schmidt last year, are clearly driving a consumer and business revolution on ... 10 Startup Survival Tips in the Age of the Platform :

The Detroit carmakers posted double-digit increases in sales for the year as December finished with a flourish. **** U.S. Auto Sales Ended 2011 With Strong Gains :

Mortgage rates are expected to remain near historical lows through 2012, but the impact on home purchasing activity remains unknown until Americans see how the larger economy fares. Doug Duncan, chief economist with Fannie Mae, said positive indicators in the past few months, including employment growth at the end of the year, would [...] Low mortgage rates may not increase purchase demand in 2012 :

Oversight agency points to "poor investment and business strategies" in corporate failures. **** NCUA Applauds GAO Report :

Concerns are growing that the Federal Housing Administration will need to be bailed out by taxpayers. **** Bailout concerns mount for FHA :

"Dear Board of Directors: As we begin the New Year, federally insured credit unions appear to be turning the corner. Credit unions’ financial health continues to improve during this protracted economic recovery. Many key financial indicators are trending in the right direction. Net income during the first nine months of 2011 exceeded net income for all of 2010. Deposits, loans, assets, and net worth all rose again during the third quarter. As a result, the aggregate net worth ratio continued to inch upward to 10.15%. As an example! Lending Trends Further examination of recent lending trends reveals several areas of concern. New auto loans continued to decline, while riskier types of loans weighed more heavily on credit union books. Unsecured loans, non-federally guaranteed student loans, and first mortgages all increased for consecutive quarters. Of particular concern: Growth in low-rate first mortgages continues to far exceed growth in overall loans. Credit unions holding...

United States Fire Administration announced today there were 81 on-duty firefighter fatalities in the United States as a result of incidents that occurred in 2011. This represents an almost seven percent decrease from the 87 fatalities reported for 2010. **** U.S. Fire Administration Announces 2011 On-Duty Firefighter Fatalities :

"In the News: The first week of 2012 will be a busy one for economic data. We kick off Monday with the ISM manufacturing report to be released at 9:00 a.m. CT. Construction spending will also be released at that time which has shown signs of improvement in recent months, although much of it has come from multi-family activity." *** The Market Today : 'via Blog this'