CUES FYI
For credit unions that rely on overdraft protection as a valued member service and source of revenue, new regulations requiring members to opt in for coverage of ATM withdrawals and one-time debit transactions present a daunting challenge. The biggest headache is catching members’ attention and getting them to act before their debit card is declined at a restaurant or in the checkout lane at the grocery store. Get tips in the May Credit Union Management cover story, below.
Also read the online-only “Loan Zone” column about managing member business lending risk and another article about business intelligence, all in this week’s issue of CUES FYI.
Loan Zone: Managing MBL Risk
Monitoring member business loans means multiple, not just annual, reviews
Charting a Course
Business intelligence moves beyond the spreadsheet to give your data a true purpose.
Opt in for Overdraft
New regs pose challenges and opportunities for courtesy pay programs.
From Our Sponsor
Johns Hopkins FCU Navigates Rate Cuts to Come out on Top
During the economic recession in 2008, Johns Hopkins Federal Credit Union was faced with a state-mandated insurance rate reduction. In order to protect its non-interest income from credit insurance products, Johns Hopkins FCU turned to its partner, CRI Solutions, to not only avert losses, but increase income for the credit union.
Member Benefit Section
Online Learning for Boards: Board Committees
Committees have several advantages that make them a useful tool for an organization's board of directors:
- They help the board identify and set priorities on key issues and set a more definitive timetable for action.
- They allow for more detailed, closer examination of key issues.
- They allow the board to delegate projects to small working groups, increasing the likelihood that the projects will get done.
CUES Director members can review three more advantages of committees and study about other aspects of board governance—then test their knowledge—in the CUES Director Education Center, now a member benefit (password required; e-mail cues@cues.org for help).
New Benefit! CUES, CUES Director and CUES Supplier members and subscribers to Credit Union Management can now access a complete digital version of the May magazine by logging in at cumanagement.org then clicking on the magazine image in the top bar. E-mail cues@cues.org for password help.
Review all your member benefits here.
Blog: Leadership and Lending in Post-Earthquake Haiti: On April 21, CUES President/CEO Fred Johnson, visited Haiti for one day under the auspices of the World Council of Credit Unions. Read about the visit in this CUES Skybox blog post.
Looking for the Next Top Credit Union Executive
Know a sharp credit union professional who is age 35 or under? Encourage them to apply to be named the Next Top Credit Union Exec. Six regional winners will receive prize packages worth $5,000; the ultimate winner will receive an educational prize package worth $20,000! Learn how to enter today.
Cool Web Site: Caring.com features original content focused exclusively on eldercare and end-of-life matters. The site editors research and fact-check every article, checklist, and buying guide meticulously, and the site’s advisory board reviews the site regularly to assure the accuracy and relevance of the material published. Topics covered include health, housing, finance, legal and family issues, and other caregiving concerns.
Member News:
Recognized: DeFarra Dean Gaymon, CCE, president/CEO of $56 million/15,000-member Credit Union of Atlanta, has been named a 2010 Professional of the Year by People in the Know Magazine. Gaymon was also recognized in the 12th edition of the book Who’s Who of Black Atlanta.
$682 million/42,000-member Quorum Federal Credit Union, Purchase, N.Y., has been named one of the Best Companies to Work for in New York state (small- and medium-sized companies) for 2010. The award was granted to Quorum FCU by the New York State Society for Human Resource Management and the Best Companies Group, an independent company managing the Best Places to Work programs on state, regional and national stages around the country.
Community Involvement: $1.2 billion/91,000-member TruMark Financial Credit Union, Trevose, Pa., awarded $9,200 in scholarships during its "Financial Jeopardy" game, which coincided with National Credit Union Youth Week.
Serving as a Volunteer Income Tax Assistance preparation site for the fifth straight year, $1.1 billion/117,000-member CFE Federal Credit Union, Lake Mary, Fla., prepared more than 800 income tax returns and helped individuals recoup $1.3 million in refunds for 2009.
Read all the CUES member news here.
Attend This One-of-a-Kind Event
Learn to adapt to the industry’s rapid changes when you join us at Execu/Net 2010, Aug. 22-25, Summit at Big Sky Resort, Big Sky, Mont. Learn from industry thought leaders in the mornings and network while fly fishing in the afternoons. Reserve your space for this popular program today!
CUES Calendar
Questions Supervisory Committee Members Should Ask
May 11
1-2 p.m. Central time
Webinar: Alternative Capital: Recapitalizing Credit Unions
May 12
10-11 a.m. Central time
CUES School of Business Lending
School I: Business Lending Fundamentals
May 17-21
Hyatt Regency Cambridge
Boston
School of Risk Management
May 17-18
Hyatt Regency Cambridge, Overlooking Boston
Boston
Webinar: The Quarterly Slant: Technology News with a Twist
May 20
1-2 p.m. Central time
Alternative Capital: Controlling Your Destiny
Wednesday, June 2
10-11 a.m. Central time
DLI™: Governance
June 6-9
Joseph L. Rotman School of Management, University of Toronto
Toronto
CUES Annual Convention
Disney's Contemporary Resort
June 21-23
Lake Buena Vista, Fla.
Alternative Capital: Navigating the Future
Wednesday, June 30
10-11 a.m. Central time
Check out all the upcoming CUES events.
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