Thursday, February 28, 2013

Louis Hernandez Jr. Gets New Gig: Avid President/CEO

Former Open Solutions head man gets top job at major provider of video and audio technology. Hernandez, in the announcement, said, “As the industry leader for more than 25 years, Avid continues to set the standard for non-linear-editing, media management, and collaboration in the audio, video, and broadcast markets. The company is well positioned for growth and global expansion in this fast-moving marketplace. It is exciting to be working with the Avid team, as we drive results and value for our customers, employees, and shareholders." ....Read More >> Louis Hernandez Jr. Gets New Gig: Avid President/CEO:

Wednesday, February 27, 2013

Becker to NCUA: Examiners Applying Opinion to IRR Management

Becker said he’s heard reports of examiners shock testing for interest rate risk under “absurd” scenarios, such as unrealistic increases in rates over a six-month period.

“We’re taking about things that just aren’t realistic,” he told Credit Union Times. “One in a million chance testing.”

Specifically, Becker said in the letter he sent Friday that members have reported examiners requiring credit unions to set policies according to rate shocks outlined in a 16-year-old core deposit study.....Read More >>.Becker to NCUA: Examiners Applying Opinion to IRR Management: .

Well-Rounded Succession Plans Take a Broad Approach

Having some kind of a succession plan in place, even just knowing who will take a CEO’s place in the event of his or her sudden departure, is a necessity for every credit union. But experts say the best succession plans don’t just determine who future leaders will be. They...Read More >> Well-Rounded Succession Plans Take a Broad Approach:

Sunday, February 24, 2013

How Much Does Your Investment Strategy Influence Portfolio Performance? - General Features - News | Credit Unions
With credit unions’ net interest margin falling to 2.96%, every basis point matters. Yet the average investment yield has dropped 34 basis points over the past year to 1.32%. In an environment characterized by high liquidity and low rates, effective management of the investment portfolio has become an important part of the credit union business model.

Given the low rate environment, it would be understandable to expect a relatively narrow range of investment yields across credit unions. However, there is actually significant variance among institutions, reflecting different portfolio compositions. In fact, the top quartile of credit unions by average investment return generate an average return of 1.92%, over six times the 31 basis point average return generated by the bottom quartile.

Read more:

Friday, February 22, 2013

Mergers Will Continue to Cull the CU Herd

Let's not let this happen to any Firefighter Credit Unions!

Do the math. Look to your right. Look to your left. One in three credit unions will vanish by 2025.

By 2025, the United States will have around 4,500 credit unions. Many smaller credit unions don’t have the wherewithal to compete with banks.The cost of technology and regulations will continue to take a toll.

Every day, six days a week, a credit union closes and never re-opens.

That has been going on for many years. More than 3% of credit unions have annually closed for the past decade. By 2025, the United States will have around 4,500 credit unions.

Find out more in this week's preview from next week's CU Times print edition.
Mergers Will Continue to Cull the CU Herd: Print Preview:

Thursday, February 21, 2013

DDoS Attacks Prompt NCUA Risk Alert

NCUA issues first alert of 2013 after none in 2012, with guidance on how to address risk of website takedowns.

Responding to recent distributed denial-of-service attacks on at least two credit unions, the NCUA on Wednesday released a risk alert that it said identifies appropriate policies and procedures to guard against them.

The regulator advised credit unions to employ controls described in the 2011 FFIEC supplement to guidance on Authentication in an Internet Banking Environment.
<<<READ MORE>>>>DDoS Attacks Prompt NCUA Risk Alert:

Wednesday, February 20, 2013

Steve Rick Senior Economist from CUNA will be a speaking and a moderator at the Firefighters National Coalition of Firefighters Credit Unions 2013 Annual Meeting and Conference

Steven Rick is the Senior Economist for CUNA & Affiliate’s Economics & Statistics Department. Steve has been with CUNA since January, 1992. He conducts economic research, teaches and lectures at various credit union schools and conferences across the country and internationally and writes articles for CUNA publications. Steve facilitates strategic planning sessions for credit union board of directors. He has authored a textbook on asset-liability management for credit union executives. Steve also holds a Lecturer position at the University of Wisconsin where he teaches various courses.

Mr. Rick has a B.A. in Economics from Moorhead State University; a B.S. in Finance from Moorhead University; and a M.S. in Economics from the University of Wisconsin, Madison. He is also a Ph.D. candidate for a doctoral degree in Economics at the University of Wisconsin, Madison.

Mr. Rick has nine years teaching experience in the following courses: macroeconomics, microeconomics, and money and banking and the government’s role in the economy. He also has two years’ experience as a bank simulation advisor for a computerized bank simulation game for the Prochnow Graduate School of Banking.

Steve can be reached at 800-356-9655, ext. 4285 or you can email him at

Tuesday, February 19, 2013

Buddy Gill, of NCUA, will be a speaker and moderator at the firefighters National Coalition of Firefighters Credit Unions INC (NCOFC) 2013 Annual Meeting & Conference in Boston

Buddy Gill is Senior Strategic Communications and External Relations Advisor to the Chairman Debbie Matz of the, National Credit Union Administration (NCUA). “For nearly fifteen years, Buddy has worked directly with credit unions of all sizes, industry trade groups, federal and state lawmakers, policymakers, the media, and other industry stakeholders on credit union issues and continues that work at NCUA. His keen strategic sense, communication abilities, and credit union legislative successes are well known and respected nationally.

Buddy Gill works closely with Chairman Matz and NCUA’s Public and Congressional Affairs team to design strategic messages and execute communication initiatives. He serves as a liaison to the credit union industry and related stakeholders, advising the chairman regarding how regulations are working at the credit union level, and how NCUA can better help credit unions serve their members.

Gill joins NCUA after serving seven years as the chief advocacy officer and senior vice president of the Texas Credit Union League. Prior to that, Gill ran his own strategic communications consulting firm, with the Credit Union National Association as a core client, and Gill was a principal strategist and architect behind the public relations efforts to enact H.R. 1151, the Credit Union Membership Access Act of 1998, into law.

Thursday, February 14, 2013

Mobility Matters: When Mobile Matters More

Online banking's days on top are numbered. Technology writer Robert McGarvey lays out why in his latest Mobility Matters column.

The whispered word among insiders is that online banking usage is flat-lining – it has peaked and it may even be losing users. The big winner: mobile.

But few credit unions are prepared to jump on this trend by offering compelling, user-friendly apps. This train is leaving the station, who’s on board?
..Read More>>>>...Mobility Matters: When Mobile Matters More

Sunday, February 10, 2013

3 Tips for Tapping Your Retirement Savings!

A lot is written about how to build a nest egg, but not as much about taking money out. What advice do you have for withdrawing money from saving once I retire -- M.S., Seattle, Wash.

As baby boomers make the transition from career to retirement, more and more people are grappling with the question you raise: How do you turn the money you've accumulated in 401(k)s, IRAs and other accounts into reliable income that, along with Social Security and any pensions, can support you the rest of your life?
<<READ ALL>>> 3 tips for tapping your retirement savings - Feb. 8, 2013

5 things to know about car leases - Feb. 8, 2013

You can get great deals on car leases these days, but a few wrong turns will cost you. Here's what you need to know.

1. Leasing is especially attractive today
The cost of a lease is the difference between what a vehicle is worth now and what it's expected to be worth when you return it (the residual value), plus interest and fees. The more a car is forecast to hold its value, the less you pay.
READ MORE AT>>5 things to know about car leases - Feb. 8, 2013

Thursday, February 7, 2013

Seven Steps to Finding a New CEO

Look inside >
Region III Report

All credit unions periodically face the critical challenge of recruiting and selecting a new Chief Executive Officer (CEO). Credit union operations should not be interrupted with a CEO change. The credit union’s board of directors (board) is responsible for identifying qualified candidates, vetting them, and ensuring that the best candidate for their credit union is hired. In this report, Region III provides a seven step plan we hope all boards find helpful in the selection process. Read all seven steps at;