Posted February 14th, 2014 No Comments
The Trust Card debt reduction program enters accessible financial services incubator

Filene Research Institute launches incubator with Ford Foundation grant to benefit underbanked consumers

Madison, Wis. – Filene Research Institute selected The Trust Card, a debt management program pioneered by Neighborhood Trust Federal Credit Union (NTFCU) and Neighborhood Trust Financial Partners, as the fifth and final product for its accessible financial services incubator. The Trust Card Program combines NTFCU’s signature Financial Counseling Services with a credit card that enables better debt management through behavioral economic design principles. {Read The Full Article}

Posted February 14th, 2014 No Comments
Verify Your Credit Union Membership to Keep Saving with Sprint

Invest in America is pleased to offer monthly wireless discounts to our members with the Sprint Credit Union Member Discount. If you’re already enjoying the savings from this Invest in America program, we want to make sure you continue to do so. Periodically, Sprint needs participants to verify eligibility so they can receive the discount and waived activation fees. If you’re planning on signing up for the Sprint Credit Union Member Discount, you’ll need to verify eligibility as well.

New Sprint Customers: You need to verify membership within 30 days of activation.

Current Sprint Customers: You need to provide proof of discount eligibility (credit union membership) when you upgrade your device if it has been 20 or more months since you last validated. {Read The Full Article}

Posted February 14th, 2014 No Comments
NCUA Proposal Would Revise Risk-Based Capital Requirements

Credit unions with assets of more than $50 million would be subject to revised risk-based capital requirements under a proposal announced Thursday by the National Credit Union Administration that would require a risk-based capital ratio of 10.5 percent for credit unions to be classified as “well capitalized.”

Under the 198-page proposal, credit unions would still need to maintain a net worth ratio of 7 percent to be classified as “well capitalized.” But the agency said it would replace its “outdated and insufficient” one-size-fits-all capital requirement with a weighted system that better correlates required capital levels to risks the agency deems relevant. {Read The Full Article}

Posted February 14th, 2014 No Comments
NCUA Posts 2014 Regulation Review List

Public Comments Welcome for Annual Assessment of One-Third of NCUA Rules

The NCUA has posted a list of regulations it will review in 2014, and the agency is now accepting public comments on the substance and clarity of each rule.

“Credit unions and the products they offer are constantly evolving, and effective regulation must keep pace with a changing industry,” NCUA Board Chairman Debbie Matz said. “We review one-third of NCUA’s regulations each year to make sure our standards are timely and appropriate. At the heart of my Regulatory Modernization Initiative is the commitment to modifying, streamlining, refining, or repealing rules that are not required by statute and would not jeopardize safety and soundness of the industry. These reviews are a critical part of this initiative, and I encourage all interested parties to participate.” {Read The Full Article}

Posted February 14th, 2014 No Comments
Mobile Solutions from LSC

Providing credit union access to your members via their mobile devices is becoming increasingly more important both for member retention and attracting new members. It is no longer regarded as a competitive edge to offer mobile, but truly a sustainable advantage. Members not only want to view their account balances using their iPhone, iPad, Droid or Kindle Fire, they want to see special offers, request loan information or apply online, along with check deposit capabilities. LSC’s CU Mobile Solution can do that and more!

Mobile Access:  Put a Branch in Every Member’s Hands.
Our Mobile Application creates the connectivity to all the major platforms: Apple, Droid, and Kindle Fire. Members can view and request information, while your credit union communicates directly back to them with free push messages, on their mobile enabled phones. LSC’s CU Mobile Solution has incorporated the latest cutting edge “App Engine Technology” reinforcing the strategic placement of your credit unions app on all mobile platforms. Add the option of Remote Deposit Capture, and you truly have put a branch in every member’s hand. {Read The Full Article}

Posted February 14th, 2014 No Comments
Cost of Responding to the Target Breach in the Nebraska: $1.3 Million and Counting

Nebraska credit unions have already spent an estimated $85,000 million responding to the massive theft of financial data from Target stores, and the preliminary results of a nationwide survey indicate that those costs could grow substantially if fraud losses mount.

The survey by the Credit Union National Association puts the cost to credit unions across the country at somewhere between $25 million and $30 million to date. That total includes the cost of reissuing credit and debit cards, as well as costs for additional staffing, member notification and account monitoring. It does not include fraud losses, which CUNA says are likely to occur later and could be substantial.

“Contrary to what some may think, these expenses will not be reimbursed to credit unions and their members by Target or other retailers,” says CUNA President/CEO Bill Cheney. “Rather, credit unions must solely cover the costs of … reacting to a merchant data breach. And because of credit unions’ cooperative structure, the costs of such breaches are ultimately borne entirely by credit union members.” {Read The Full Article}

Posted February 14th, 2014 No Comments
Rethinking Mobile for Credit Unions

Saul Wolf
By Saul Wolf
Remittances Manager, World Council of Credit Unions
swolf@woccu.org

Three years ago, I asked myself: what is the future of World Council of Credit Unions’ remittances program IRnet®? At the time, we were losing market share to banks with much deeper pockets, had lost a valuable partner to a corporate merger and saw declining profit margins. Today I am happy to report: mobile is an answer.

In 2012, World Council partnered with Boom Financial, a socially responsible tech startup, to offer an international mobile remittance solution, the first of its kind. Since launching last October on International Credit Union Day, Boom has transferred well into seven figures worth of remittances between credit unions in the U.S. and Haiti. {Read The Full Article}

Posted February 14th, 2014 No Comments
CUs Encouraged to Apply for NCUF Biz Kid$ Financial Education Grants

Madison, Wis. – Credit union organizations can now apply for Biz Kid$ Financial Education Grants from the National Credit Union Foundation (NCUF) through March 31, 2014.

“There is a need to improve the financial literacy skills of the youth in America and Biz Kid$ is the perfect vehicle to address that need,” said Danielle Brown, Director of Development & Donor Relations for NCUF. “We are looking to fund innovative programs that improve the financial education of youth through the use of the Biz Kid$ program and encourage you to apply.” {Read The Full Article}

Posted February 10th, 2014 No Comments
$25,000 Grand Prize Awarded For Nebraska Credit Union League’s 2013 “Save-to-Win” Program

(LINCOLN, Neb. – February 12, 2014)  Nebraska Credit Union League presented MembersOwn Credit Union member Ronald Hibbert with the 2013 Nebraska “Save-to-Win” program’s $25,000 grand prize.  Mr. Hibbert was among 1,462 credit union members across Nebraska who participated in the Save-to-Win program this year.  The event included remarks from Scott Sullivan, President/CEO of Nebraska Credit Union League, State Senator Amanda McGill, and Kenn Miller, President of MembersOwn Credit Union.  Mr. Hibbert was accompanied by his wife and family.

“We couldn’t be happier to announce that Ron Hibbert, our long-time member for 47 years and counting, has won the grand prize this year!  Ron’s family has also grown up benefiting from MembersOwn Credit Union and we know that saving runs in this family; maybe winning will too.  Ron has told me that this is the first thing he has ever won, and we can’t think of anyone more deserving,” said Kenn Miller, MembersOwn Credit Union President. {Read The Full Article}

Posted February 1st, 2014 No Comments
Liberty First CU Opens School Branch

On February 10th, Liberty First CU celebrated opening up another school branch, this time at Cavett Elementary.  In partnership with the Nebraska Council on Economic Education, students, staff, parents and CU employees gathered to kick off this fantastic opportunity.  Congratulations to Liberty First CU for continuing to be a strong partner in the schools and instilling financial education to so many young students.  

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Posted February 1st, 2014 No Comments
Matt Hill to Crash CUNA GAC

Matt Hill, Creighton FCU Skutt Student Center Branch Manager and , has spent the past ten years in the banking industry and seven of those in a management position.  While at Creighton FCU, Matt has established a proven history of loan growth, management skills, and the ability to lead and motivate others.  He is currently responsible for developing marketing plans and production goals for all five of our branches. These plans include selling and promoting secured loans, unsecured loans, mortgage loans and all branch products and services. With these goals, there is also an emphasis on cross selling appropriate products and services to each customer. Matt also leads Nebraska’s Young Professionals of Credit Unions (YPCU) group, which is currently in the planning and development stage. {Read The Full Article}

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