CUES FYI

Published every Tuesday, CUES FYI includes up-to-the-minute industry news, the latest Credit Union Management online-only columns, CUES member news and member benefits .

CUES FYI Aug. 3, 2010: Loan Zone

It’s hard to overstate the impact that the volatility of the financial markets, ultimately caused by the mortgage and real estate meltdowns, has had on the U.S. economy. We all know that subprime mortgages, including stated-income loans, appear to be a thing of the past. Mortgage brokers are soon on their way to being extinct. But, the damage done may extend far beyond the mortgage-backed security market and the overall economy. Read more in Credit Union Management’s online-only “Loan Zone” column, below.

Also read an article about employee performance and another about a CU that is “firing” its unprofitable members, all in this week’s issue of CUES FYI.

Loan Zone: The New Conventional Wisdom
What does the future hold for CUs and mortgage lending?

Performance Problems Checklist
A list of questions to ask employees

You’re Outta Here
Chatham FCU cut inactive members to maintain its personal connection with involved members

Credit Union Management Featured Article

Wake-Up Call
The recent recession is just the latest reminder: Forced mergers are becoming the norm. It’s time for credit unions to take strategic initiatives.

CUES, CUES Director and CUES Supplier members, as well as subscribers to Credit Union Management, can now access a complete digital version of the August issue, plus archives back to December 2009, by logging in at cumanagement.org, then clicking on the magazine image in the top bar. E-mail cues@cues.org for password help.

From Our Sponsor

Four ‘First Steps’ for Boards to Follow When Setting Objectives for Executive Compensation

CUNA Mutual Group is a leading provider of financial services to credit unions, their members, and valued customers worldwide. As we celebrate 75 years of market commitment in 2010, CUNA Mutual's vision is unwavering: to be a trusted business partner who delivers service excellence with customer-focused products and market-driven innovation.

Online Learning for Boards: Delegation

1. Delegation provides the board with the ability to multiply its power, in both human and capital terms. This is known as leverage.

2. One primary characteristic of leadership, as identified in literature and research, is vision. Leaders can see what others do not.

3. Leaders inspire others to help them bring those ideals into reality. As the path to those new realities becomes clear, managers take those tasks and projects on and attempt to accomplish them in the best ways possible. Managers recruit teams of people with the competence to do things well.

4. As credit unions grow, they take on additional staff. This makes delegating a ubiquitous leadership and management act. Two additional reasons to delegate are complexity and the scope and pace of change.

5. Directors need to delegate tasks to management, even if they themselves can do the tasks well and get satisfaction from doing them.

CUES Director members can study further aspects of delegation and 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).

To learn even more, considering upgrading to a membership in CUES’ new Center for Credit Union Board Excellence. Governance is one of seven key learning areas; others are finance, committees, advocacy, board/CEO relations, strategy and risk management. Check it out and sign up for a free trial membership at http://www.myccube.org.

CUES Re-elects Board Incumbents
Altepeter, Freeborn and Ramirez each to serve another three-year term.

Review all your member benefits here.

Blog: Canadians Have Positive Perception of Cooperatives: A new public opinion survey shows that the majority of our Canadian neighbors view cooperatives as trustworthy, well-run businesses that provide good customer service and create jobs that help support local communities. Read more in this CUES Skybox blog post.

Essential Enterprise Risk Management Education

Risk management has become a critical element in strategic planning for credit unions. Attend the CUES School of Risk Management^™ in Collaboration with the Risk and Insurance Management Society (RIMS) Sept. 20-21 in Seattle for an overview of the essentials of enterprise risk management. Register today and get the serious risk management education you need.

Cool Web Site: Check out reading lists—for children, teens and adults—on the American Library Association’s Web site.

Member News:

Retirement/New Position: Norb Kaczmarek, president/CEO of $323 million/37,000-member Erie Federal Credit Union, Erie, Pa., has retired. Mary Beth Wilcher, formerly chief marketing officer at the credit union, has been named as Kaczmarek’s successor.

Tom Glatt, president/CEO of $72 million/5,500-member REALTORS Federal Credit Union, Rockville, Md., has resigned his position. Jane Pannier, REALTORS FCU EVP/general counsel and compliance officer, has been named acting president/CEO.

Appointment: Paula A. Stopera, president/CEO of $857 million/77,700-member Capital Communications Federal Credit Union, Albany, N.Y., has been named chairwoman of the YMCA’s board of directors.

Sponsorship: $172 million/30,000-member Pelican State Credit Union, Baton Rouge, La., joined forces with North Oaks Health System and Anytime Fitness to provide a free kids bike race to the community of Denham Springs. More than 50 kids 12 and under participated.

Read more—and submit your own--CUES member news here.

New! Compliance Solutions from CUES

Turn your compliance hassles over to the professionals at Wolters Kluwer Financial Services. They are known for offering best-in-class general compliance, content, and lending compliance solutions. They also offer services to improve efficiency and increase effectiveness. Find out more about CUES Compliance Solutions Provided by Wolters Kluwer Financial Services today.

CUES Calendar

Webinar: Compliance – An Operational Issue That Demands Efficiency
Aug. 4
1-2 Central time

Webinar: The Hidden Threat—the Integrity of the Social Security Number
Aug. 10
1-2 Central time

Execu/Net^™ 2010

Aug. 22-25

Big Sky, Mont.

Webinar: Making Things Happen (Regardless of Your Age, Rank, or Serial Number)

Aug. 25

1-1:30 p.m. Central time

Webinar: The Art of Risk-Taking

Aug. 31

1-1:30 Central time