Posted February 12th, 2013 No Comments
Biz Kid$ financial education grants available for CUs

Credit union organizations are invited to apply for Biz Kid$ Financial Education Grants from the National Credit Union Foundation (NCUF). Applications will be accepted through March 31, and detailed information is available on the NCUF website.

The overall objective of the Biz Kid$ Financial Education Grant program is to engage the credit union movement in using Biz Kid$ to build students’ financial literacy and economic skills while also increasing awareness and usage of Biz Kid$. Credit unions can use grants to fund innovative programs that improve the financial education of youth through the use of the Biz Kid$ program. Projects may engage teachers, students, education leaders, local PBS stations or community stakeholders through events, activities and/or curriculum distribution. A total of $125,000 is available through the grant program. {Read The Full Article}

Posted February 12th, 2013 No Comments
Box Butte Public EFCU Gets New Manager

Stephanie Buskirk is the new Manager of Box Butte Public Employees FCU taking over for Carol Crum who has retired after 13 years of service. {Read The Full Article}

Posted February 12th, 2013 No Comments
CUNA Mutual Group offers tips for preventing cyber attacks

In 2012, cyber criminals claiming to be politically motivated conducted several well-publicized, large-scale attacks on national banks. Recently, two credit unions were also victims of the attacks. The attacks disrupt online service at the impacted financial institutions, sometimes serving as smoke screens while member/customer account funds are diverted to accounts held by criminals at other institutions.

To help credit unions avoid or mitigate these cyber attacks, CUNA Mutual Group Risk Management Senior Consultant Ken Otsuka recently published the following tips: {Read The Full Article}

Posted February 12th, 2013 No Comments
Derivatives, MBL Waivers, TDRs, Risk Management, CFPB Future Plans Discussed During Joint Webinar

NCUA staffers continue to examine credit union derivatives issues, and a proposed rule on derivatives could be released in the first half of 2013, Chairman Debbie Matz said in a Tuesday Webinar with CFPB Director Richard Cordray.

Matz noted that the agency is considering allowing well-run credit unions with the necessary expertise to use simple derivatives to hedge against interest rate risk (IRR). She said managing IRR is a key concern for the agency and the proposal would be issued “soon.” {Read The Full Article}

Posted February 12th, 2013 No Comments
Enterprise Car Sales generates $380M in CU auto loans

St. LOUIS –Enterprise Car Sales said it generated more than $380 million in loan volume for credit unions through used-vehicle sales to more than 23,000 credit union members nationwide last year. The company’s specialty is working with credit unions of all sizes to increase auto loan volume.

The loan volume generated is 15% higher than 2011 (autoremarketing.com Jan. 15). {Read The Full Article}

Posted February 12th, 2013 No Comments
Reminder: March 1 is HMDA filing deadline

Credit unions subject to Home Mortgage Disclosure Act requirements in 2012 (i.e., those with total assets of more than $41 million) have until March 1 to submit their 2012 Home Mortgage Disclosure Act (HMDA) loan/application register (LAR) data to the Federal Reserve Board. {Read The Full Article}

Posted February 12th, 2013 No Comments
How media spikes aSmarterChoice.org hits; an inside look

aSmarterChoice

Since the whole purpose of aSmarterChoice.org is to get consumers to learn more about credit unions – and find a credit union to join – earned media continues to be the top method for driving consumer eyes to the website.

Case in point: The highest number of daily visits – 2,793 – in the fourth quarter came on November 21, when the Holiday Spending survey was presented at The National Press Club by CUNA and the Consumer Federation of America. ASmarterChoice.org was mentioned and included in the press release handout to the media in attendance. {Read The Full Article}

Posted February 12th, 2013 No Comments
NCUA letter outlines 2013 exam goals

Increased clarity in examiner guidance and increased consistency in examination practices are key supervisory focuses of NCUA this year, according to NCUA Chairman Debbie Matz in a new Letter to Federally Insured Credit Unions.

The agency will strive to enhance the clarity of examiners in the areas of member business lending (MBL), credit ratings and troubled debt restructurings (TDRs), Matz noted. Credit unions can expect a supervisory letter to add clarity to the process and expectations for MBL rule waiver requests, as well as follow-up guidance on complying with the final rule replacing the use of credit ratings with alternative standards to assess the creditworthiness of securities and money-market instruments. {Read The Full Article}

Posted February 12th, 2013 No Comments
How to Make Sure You’re Getting Good Advice In a Third-Party Bond/Insurance Review

If your credit union engages a third party to help review your fidelity bond and other insurance protections, be sure you understand whether the third party is an independent consultant working strictly for a fee or a broker that could be working at least partly on commissions from carriers.

The consulting services provided by a neutral third party and a commissioned broker may look identical. And either type of third party may have the expertise to evaluate your current protection program. The key is knowing whether the third party makes recommendations solely based on your credit union’s best long-term interests.

{Read The Full Article}

Posted February 12th, 2013 No Comments
NCUA launches new website for small CUs

NCUA has launched a new microsite, www.ncua.gov/OSCUI, to provide small credit unions with one convenient destination for information and assistance provided by the agency’s Office of Small Credit Union Initiatives (OSCUI). {Read The Full Article}

Posted February 12th, 2013 No Comments
CUNA Releases New Regulatory Advocacy Report—Sign Up Today

CUNA has enhanced its weekly Regulatory Advocacy Report to deliver even more value to member credit unions and better assist them with the challenge of staying on top of regulatory developments.

{Read The Full Article}

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