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					Horizons




Wednesday, December 22, 2010                                                             January 2011                                         VOLUME 4 ISSUE 1

TOPICS                                                President's Message
President's Message                                    President's Message
Legislative & Regulatory                               by Daniel F. Egan, Jr.
CU News
                                                       The new year is a time for resolutions that define new beginnings. As such, it presents an ideal
Community Involvement                                  opportunity for us to consider defining a modern image for credit unions. After the last three years of
Events                                                 economic turmoil, there is a need and an opportunity to identify credit unions as the modern day model
                                                       for resolving the complexities of families’ financial lives.
Business Solutions
                                                       [FULL STORY]
People
Calendar
                                                      Legislative & Regulatory
Careers
                                                       Agencies issue guidelines on real estate appraisals/evaluations
CONTENTS                                               The National Credit Union Administration (NCUA), in conjunction with other federal financial institution
President's Message                                    regulators, has emphasized that financial institutions are responsible for selecting appraisers and people
                                                       performing evaluations based on their competence, experience, and knowledge of the market and type
Fed issues plan to extend TILA,                        of property being valued.
Consumer Leasing Act                                   [FULL STORY]
Agencies issue guidelines on real
estate appraisals/evaluations
                                                       Fed issues plan to extend TILA, Consumer Leasing Act
CUNA communicates interchange
                                                       The Federal Reserve Board proposed two rules that would expand the coverage of consumer protection
misgivings to Fed
                                                       regulations to credit transactions, as well as double the dollar amount of consumer leases that would be
SAFE Act registration to begin in                      covered.
late January, NCUA says                                [FULL STORY]
Credit union director fin-lit rules
kick in this month: NCUA                               CUNA communicates interchange misgivings to Fed
2011 IRS mileage rate sees slight                      The Federal Reserve's (Fed) recently introduced proposed rule on interchange fees confirms the Credit
increase                                               Union National Association's (CUNA) "worst fears about the inadequacies of the purported protections"
NCUA Baord addresses low-                              for credit unions and other smaller issuers of debit cards, CUNA President/CEO Bill Cheney has said.
income members, credit unions at                       [FULL STORY]
December 16 meeting
Prepaid debit cards could also see                     SAFE Act registration to begin in late January, NCUA says
new regs                                               The initial period for federal registration of residential mortgage loan originators under the Secure and
Credit Union Governmental Affairs                      Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) will begin on or around January 31, the
Day – Save the Date                                    National Credit Union Administration (NCUA) announced.
                                                       [FULL STORY]
CUNA HR/TD Council announces
award program
Treasury finalizes Go Direct
deadline
Auto loan delinquencies and
repossessions down




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Horizons


Fed: 75% of noncash payments                           Credit union director fin-lit rules kick in this month: NCUA
are made electronically                                National Credit Union Administration (NCUA) rules that require credit union directors to have or gain an
Westerly Community Credit                              understanding of "basic finance and accounting practices" will come into effect on January 27, the
Union’s ‘Mystery Envelope- Can                         agency has said.
Good Drive’ brings in over 1200                        [FULL STORY]
items for local food pantries
People’s Credit Union donates gift                     2011 IRS mileage rate sees slight increase
cards to domestic violence centers
                                                       The Internal Revenue Service (IRS) issued the 2011 optional standard mileage rates used to calculate
The Great New England Credit                           the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.
Union Show is coming!                                  The standard mileage rate for business miles driven will be 51 cents per mile, up from 50 cents per mile
NECUS, Invest in America,                              in 2010.
present 2010 Sprint incentives to                      [FULL STORY]
credit union partners
CO-OP My Deposit Mobile enables                        NCUA Baord addresses low-income members, credit unions at December 16 meeting
credit union members to “snap                          At the December 16 Board meeting, the National Credit Union Administration (NCUA) approved, for a
and deposit” checks using mobile                       sixty-day comment period, a proposal that would permit federal credit unions to use "statistically valid"
phones                                                 random samples of member income data to prove their low-income status to the agency.
CUNA Operations Council releases                       [FULL STORY]
CRM Strategies white paper
Online conversation                                    Prepaid debit cards could also see new regs
People’s Credit Union announces                        Legislation that would eliminate many hidden fees associated with prepaid debit cards and increase
appointment of new Information                         transparency regarding prepaid debit card fees was recently introduced by Senator Robert Menendez (D-
Technology Manager                                     NJ). The legislation, which was co-sponsored by Senators Richard Durbin (D-IL) and Jeff Merkley (D-
Holiday
                                                       OR) would focus on reloadable plastic cards that are often used as substitutes for checking accounts,
                                                       debit cards, and credit cards.
Association Calendar                                   [FULL STORY]
Job Postings

ARCHIVE                                               Credit Union News

June 2011                                              Credit Union Governmental Affairs Day – Save the Date
May 31, 2011                                           Save the date for the next Credit Union Governmental Affairs Day to be held on Thursday, January 27,
Vol. 4 Issue 6
                                                       2011 from 4:00 – 6:00 p.m. in the Governor’s State Room at the State House in Providence. Online
May 2011                                               registration is open on the Credit Union Association of Rhode Island’s website shortly.
May 9, 2011
Vol. 4 Issue 5
April 2011                                             CUNA HR/TD Council announces award program
March 31, 2011                                         Entries Being Accepted for 2011 HR/TD Excellence Awards
Vol. 4 Issue 4
March 2011                                               Entries are now being accepted for the 2011HR/TD Excellence Awards, sponsored by the
February 27, 2011                                      CUNA HR/Training & Development (HR/TD) Council.
Vol. 4 Issue 3                                         [FULL STORY]
February 2011
January 24, 2011
Vol. 4 Issue 2

                                                       Treasury finalizes Go Direct deadline
                                                       The U.S. Treasury has finalized a rule that will require all federal benefits that are filed on or after March
                                                       1, 2011 to be paid electronically via the Go Direct program.
                                                       [FULL STORY]


                                                       Auto loan delinquencies and repossessions down
                                                       Consumers did a better job repaying their auto loans during third quarter 2010 than they did during third
                                                       quarter 2009. Both delinquencies and repossessions dropped, and lenders loosened loan criteria,
                                                       according to Experian Automotive's quarterly analysis of the automotive credit industry.
                                                       [FULL STORY]


                                                       Fed: 75% of noncash payments are made electronically
                                                       More than 75% of all U.S. noncash payments made during 2009 were made electronically, a 9.3%
                                                       increase over 2006's numbers, the Federal Reserve (Fed) revealed in a study released on December 8.
                                                       [FULL STORY]



                                                      Community Involvement


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Horizons



                                                       Westerly Community Credit Union’s ‘Mystery Envelope- Can Good Drive’ brings in over
                                                       1200 items for local food pantries
                                                         The Westerly Community Credit Union collected over 1200 can/dry goods
                                                       to benefit two area food pantries, WARM Shelter and Pawcatuck
                                                       Neighborhood Center. The Can Good Drive was held on one day, Friday,
                                                       December 3rd, at their main office in Westerly as part of their Renovation
                                                       Celebration. Those who brought in three can goods received a Mystery
                                                       Envelope containing up to $100.
                                                       [FULL STORY]




                                                       People’s Credit Union donates gift cards to domestic violence centers
                                                        This is the fourth year People’s has donated gift cards to the Centers during
                                                       the holidays. The credit union’s Community Enhancement Committee (CEC)
                                                       organized the fundraiser and money was raised through employee dress
                                                       down days. The cards are distributed to the people at each center to help
                                                       them buy gifts for family members and make the holiday season a more
                                                       enjoyable one.
                                                       [FULL STORY]




                                                      Events

                                                       The Great New England Credit Union Show is coming!
                                                       3rd Annual - Thursday, April 21 at Boxborough Holiday Inn

                                                                 On April 20, the Credit Union Association of Rhode Island, and the
                                                       Massachusetts and New Hampshire Credit Union Leagues, and the Warren
                                                       Group will host the third annual The Great New England Credit Union Show
                                                       in the Parade Exhibition Room at the Holiday Inn in Boxborough,
                                                       Massachusetts. This one-day credit union event will present a showcase of
                                                       services, equipment and technology, as well as seminars of particular
                                                       relevance for credit unions.
                                                       [FULL STORY]




                                                      Business Solutions

                                                       NECUS, Invest in America, present 2010 Sprint incentives to credit union partners
                                                       New England Credit Union Services (NECUS) was happy to be the bearer
                                                       of glad tidings to participants in Invest in America’s Sprint Credit Union
                                                       Member Discount program. NECUS COO and Curt Belaney, CU Corp
                                                       sales manager traveled from credit union to credit union with Sprint
                                                       Marketing Incentive Checks each credit union earned for its participation
                                                       in the program. The credit unions were happy to receive this early holiday
                                                       present of thousands of dollars simply because they extended discounts
                                                       on Sprint Nextel services to their members.
                                                       [FULL STORY]


                                                       CO-OP My Deposit Mobile enables credit union members to “snap and deposit” checks
                                                       using mobile phones
                                                           Further enhancing convenient access to accounts for credit union members, CO-OP
                                                       Financial Services is introducing CO-OP My Deposit Mobile, allowing members to “snap
                                                       and deposit” checks from anywhere using their mobile phones.
                                                       [FULL STORY]




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  Horizons


                                                         CUNA Operations Council releases CRM Strategies white paper
                                                            Data has become an essential raw material for American business, almost on a par with
                                                         capital and labor. It is hard to pinpoint precisely when this digital transformation took place,
                                                         but it had its tipping point in Y2K when organizations rebuilt technology architectures and
                                                         prepared for a meltdown that failed to materialize.
                                                         [FULL STORY]



                                                         Online conversation
                                                         Members United Bridge Corporate Federal Credit Union’s Answer Board encourages two-way
                                                         communication

                                                         To make certain members receive the most accurate information, Members United Bridge Corporate
                                                         Federal Credit Union has created the online Answer Board (www.membersunited.org/AnswerBoard).

                                                         The Answer Board is a forum that facilitates open communication between
                                                         members and Members United. Members may ask questions about Members United’s Forward Together
                                                         business plan and related efforts for the future (remaining anonymous if they wish). Answers are posted
                                                         for all to see.
                                                         [FULL STORY]



                                                        Credit Union People

                                                         People’s Credit Union announces appointment of new Information Technology Manager
                                                             Amy Martel, EVP & chief operating officer of People’s Credit Union, is pleased to
                                                         announce the appointment of Christopher J. Eden to Information Technology
                                                         Manager. In this position, Eden will oversee all aspects of the credit union’s
                                                         information technology management including the development and
                                                         recommendation of objectives, policies, procedures, and technology related projects
                                                         and initiatives.
                                                         [FULL STORY]




                                                        Calendar

                                                         Holiday
                                                             The Association office will be closed Monday, January 17 in honor of Martin Luther
                                                         King Day. The Association's regular office hours are Monday through Friday 8:00 a.m.
                                                         to 5:00 p.m.




                                                         Association Calendar
                                                         For a listing of upcoming Association programs and events, click here.


                                                        Careers

                                                         Job Postings
                                                         For a complete list of current job postings, click here.

                                                         If you would like to have your job listed on the Association’s website, please submit to jobs@cucenter.
                                                         org.


 Published by Credit Union Association of Rhode Island                                                                                                 TELL A FRIEND

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Horizons




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President's Message




Wednesday, December 22, 2010                                                                 January 2011                                   VOLUME 4 ISSUE 1

HOME                                                  President's Message
                                                      by Daniel F. Egan, Jr.
TOPICS
                                                      The new year is a time for resolutions that define new beginnings. As such, it presents an ideal
President's Message
                                                      opportunity for us to consider defining a modern image for credit unions. After the last three years of
Legislative & Regulatory                              economic turmoil, there is a need and an opportunity to identify credit unions as the modern day model
CU News                                               for resolving the complexities of families’ financial lives.
                                                      [FULL STORY]
Community Involvement
Events
Business Solutions
People
Calendar
Careers

CONTENTS
President's Message
Fed issues plan to extend TILA,
Consumer Leasing Act
Agencies issue guidelines on real
estate appraisals/evaluations
CUNA communicates interchange
misgivings to Fed
SAFE Act registration to begin in
late January, NCUA says
Credit union director fin-lit rules
kick in this month: NCUA
2011 IRS mileage rate sees slight
increase
NCUA Baord addresses low-
income members, credit unions at
December 16 meeting
Prepaid debit cards could also see
new regs
Credit Union Governmental Affairs
Day – Save the Date
CUNA HR/TD Council announces
award program
Treasury finalizes Go Direct
deadline




http://www.enewsbuilder.net/necusri/e_000488236000103230.cfm?x=b11,0,w (1 of 2) [7/14/2011 3:25:57 PM]
President's Message


Auto loan delinquencies and
repossessions down
Fed: 75% of noncash payments
are made electronically
Westerly Community Credit
Union’s ‘Mystery Envelope- Can
Good Drive’ brings in over 1200
items for local food pantries
People’s Credit Union donates gift
cards to domestic violence centers
The Great New England Credit
Union Show is coming!
NECUS, Invest in America,
present 2010 Sprint incentives to
credit union partners
CO-OP My Deposit Mobile enables
credit union members to “snap
and deposit” checks using mobile
phones
CUNA Operations Council releases
CRM Strategies white paper
Online conversation
People’s Credit Union announces
appointment of new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                    TELL A FRIEND

  Created with eNewsBuilder




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Legislative & Regulatory




Wednesday, December 22, 2010                                                                 January 2011                                    VOLUME 4 ISSUE 1

HOME                                                  Fed issues plan to extend TILA, Consumer Leasing Act
                                                      The Federal Reserve Board proposed two rules that would expand the coverage of consumer protection
TOPICS                                                regulations to credit transactions, as well as double the dollar amount of consumer leases that would be
President's Message                                   covered.
                                                      [FULL STORY]
Legislative & Regulatory
CU News
                                                      Agencies issue guidelines on real estate appraisals/evaluations
Community Involvement                                 The National Credit Union Administration (NCUA), in conjunction with other federal financial institution
Events                                                regulators, has emphasized that financial institutions are responsible for selecting appraisers and people
Business Solutions
                                                      performing evaluations based on their competence, experience, and knowledge of the market and type
                                                      of property being valued.
People                                                [FULL STORY]
Calendar
Careers                                               CUNA communicates interchange misgivings to Fed
                                                      The Federal Reserve's (Fed) recently introduced proposed rule on interchange fees confirms the Credit
CONTENTS
                                                      Union National Association's (CUNA) "worst fears about the inadequacies of the purported protections"
President's Message                                   for credit unions and other smaller issuers of debit cards, CUNA President/CEO Bill Cheney has said.
                                                      [FULL STORY]
Fed issues plan to extend TILA,
Consumer Leasing Act
Agencies issue guidelines on real                     SAFE Act registration to begin in late January, NCUA says
estate appraisals/evaluations                         The initial period for federal registration of residential mortgage loan originators under the Secure and
                                                      Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) will begin on or around January 31, the
CUNA communicates interchange
misgivings to Fed
                                                      National Credit Union Administration (NCUA) announced.
                                                      [FULL STORY]
SAFE Act registration to begin in
late January, NCUA says
Credit union director fin-lit rules
                                                      Credit union director fin-lit rules kick in this month: NCUA
kick in this month: NCUA                              National Credit Union Administration (NCUA) rules that require credit union directors to have or gain an
                                                      understanding of "basic finance and accounting practices" will come into effect on January 27, the
2011 IRS mileage rate sees slight                     agency has said.
increase                                              [FULL STORY]
NCUA Baord addresses low-
income members, credit unions at
December 16 meeting                                   2011 IRS mileage rate sees slight increase
                                                      The Internal Revenue Service (IRS) issued the 2011 optional standard mileage rates used to calculate
Prepaid debit cards could also see
                                                      the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.
new regs
                                                      The standard mileage rate for business miles driven will be 51 cents per mile, up from 50 cents per mile
Credit Union Governmental Affairs                     in 2010.
Day – Save the Date                                   [FULL STORY]
CUNA HR/TD Council announces
award program
Treasury finalizes Go Direct
deadline




http://www.enewsbuilder.net/necusri/e_000488236000102781.cfm?x=b11,0,w (1 of 2) [7/14/2011 3:26:00 PM]
Legislative & Regulatory


Auto loan delinquencies and                           NCUA Baord addresses low-income members, credit unions at December 16
repossessions down
                                                      meeting
Fed: 75% of noncash payments                          At the December 16 Board meeting, the National Credit Union Administration (NCUA) approved, for a
are made electronically                               sixty-day comment period, a proposal that would permit federal credit unions to use "statistically valid"
Westerly Community Credit                             random samples of member income data to prove their low-income status to the agency.
Union’s ‘Mystery Envelope- Can                        [FULL STORY]
Good Drive’ brings in over 1200
items for local food pantries
                                                      Prepaid debit cards could also see new regs
People’s Credit Union donates gift
                                                      Legislation that would eliminate many hidden fees associated with prepaid debit cards and increase
cards to domestic violence centers
                                                      transparency regarding prepaid debit card fees was recently introduced by Senator Robert Menendez (D-
The Great New England Credit                          NJ). The legislation, which was co-sponsored by Senators Richard Durbin (D-IL) and Jeff Merkley (D-
Union Show is coming!                                 OR) would focus on reloadable plastic cards that are often used as substitutes for checking accounts,
NECUS, Invest in America,                             debit cards, and credit cards.
present 2010 Sprint incentives to                     [FULL STORY]
credit union partners
CO-OP My Deposit Mobile enables
credit union members to “snap
and deposit” checks using mobile
phones
CUNA Operations Council releases
CRM Strategies white paper
Online conversation
People’s Credit Union announces
appointment of new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                                                             TELL A FRIEND

  Created with eNewsBuilder




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CU News




Wednesday, December 22, 2010                                                                 January 2011                                        VOLUME 4 ISSUE 1

HOME                                                  Credit Union Governmental Affairs Day – Save the Date
                                                      Save the date for the next Credit Union Governmental Affairs Day to be held on Thursday, January 27,
TOPICS                                                2011 from 4:00 – 6:00 p.m. in the Governor’s State Room at the State House in Providence. Online
President's Message                                   registration is open on the Credit Union Association of Rhode Island’s website shortly.

Legislative & Regulatory
CU News
                                                      CUNA HR/TD Council announces award program
                                                      Entries Being Accepted for 2011 HR/TD Excellence Awards
Community Involvement
Events                                                  Entries are now being accepted for the 2011HR/TD Excellence Awards, sponsored by the
                                                      CUNA HR/Training & Development (HR/TD) Council.
Business Solutions
                                                      [FULL STORY]
People
Calendar
Careers

CONTENTS
                                                      Treasury finalizes Go Direct deadline
                                                      The U.S. Treasury has finalized a rule that will require all federal benefits that are filed on or after March
President's Message                                   1, 2011 to be paid electronically via the Go Direct program.
                                                      [FULL STORY]
Fed issues plan to extend TILA,
Consumer Leasing Act
Agencies issue guidelines on real                     Auto loan delinquencies and repossessions down
estate appraisals/evaluations                         Consumers did a better job repaying their auto loans during third quarter 2010 than they did during third
CUNA communicates interchange                         quarter 2009. Both delinquencies and repossessions dropped, and lenders loosened loan criteria,
misgivings to Fed                                     according to Experian Automotive's quarterly analysis of the automotive credit industry.
                                                      [FULL STORY]
SAFE Act registration to begin in
late January, NCUA says
Credit union director fin-lit rules                   Fed: 75% of noncash payments are made electronically
kick in this month: NCUA                              More than 75% of all U.S. noncash payments made during 2009 were made electronically, a 9.3%
                                                      increase over 2006's numbers, the Federal Reserve (Fed) revealed in a study released on December 8.
2011 IRS mileage rate sees slight
                                                      [FULL STORY]
increase
NCUA Baord addresses low-
income members, credit unions at
December 16 meeting
Prepaid debit cards could also see
new regs
Credit Union Governmental Affairs
Day – Save the Date
CUNA HR/TD Council announces
award program
Treasury finalizes Go Direct
deadline




http://www.enewsbuilder.net/necusri/e_000488236000102782.cfm?x=b11,0,w (1 of 2) [7/14/2011 3:26:02 PM]
CU News


Auto loan delinquencies and
repossessions down
Fed: 75% of noncash payments
are made electronically
Westerly Community Credit
Union’s ‘Mystery Envelope- Can
Good Drive’ brings in over 1200
items for local food pantries
People’s Credit Union donates gift
cards to domestic violence centers
The Great New England Credit
Union Show is coming!
NECUS, Invest in America,
present 2010 Sprint incentives to
credit union partners
CO-OP My Deposit Mobile enables
credit union members to “snap
and deposit” checks using mobile
phones
CUNA Operations Council releases
CRM Strategies white paper
Online conversation
People’s Credit Union announces
appointment of new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                    TELL A FRIEND

  Created with eNewsBuilder




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Community Involvement




Wednesday, December 22, 2010                                                                 January 2011                              VOLUME 4 ISSUE 1

HOME                                                  Westerly Community Credit Union’s ‘Mystery Envelope- Can Good Drive’
TOPICS
                                                      brings in over 1200 items for local food pantries
                                                        The Westerly Community Credit Union collected over 1200 can/dry goods
President's Message                                   to benefit two area food pantries, WARM Shelter and Pawcatuck
                                                      Neighborhood Center. The Can Good Drive was held on one day, Friday,
Legislative & Regulatory
                                                      December 3rd, at their main office in Westerly as part of their Renovation
CU News                                               Celebration. Those who brought in three can goods received a Mystery
Community Involvement                                 Envelope containing up to $100.
                                                      [FULL STORY]
Events
Business Solutions
People
Calendar
Careers                                               People’s Credit Union donates gift cards to domestic violence centers
                                                       This is the fourth year People’s has donated gift cards to the Centers during
CONTENTS                                              the holidays. The credit union’s Community Enhancement Committee (CEC)
                                                      organized the fundraiser and money was raised through employee dress
President's Message
                                                      down days. The cards are distributed to the people at each center to help
Fed issues plan to extend TILA,                       them buy gifts for family members and make the holiday season a more
Consumer Leasing Act                                  enjoyable one.
Agencies issue guidelines on real                     [FULL STORY]
estate appraisals/evaluations
CUNA communicates interchange
misgivings to Fed
SAFE Act registration to begin in
late January, NCUA says
Credit union director fin-lit rules
kick in this month: NCUA
2011 IRS mileage rate sees slight
increase
NCUA Baord addresses low-
income members, credit unions at
December 16 meeting
Prepaid debit cards could also see
new regs
Credit Union Governmental Affairs
Day – Save the Date
CUNA HR/TD Council announces
award program
Treasury finalizes Go Direct
deadline




http://www.enewsbuilder.net/necusri/e_000488236000102786.cfm?x=b11,0,w (1 of 2) [7/14/2011 3:26:04 PM]
Community Involvement


Auto loan delinquencies and
repossessions down
Fed: 75% of noncash payments
are made electronically
Westerly Community Credit
Union’s ‘Mystery Envelope- Can
Good Drive’ brings in over 1200
items for local food pantries
People’s Credit Union donates gift
cards to domestic violence centers
The Great New England Credit
Union Show is coming!
NECUS, Invest in America,
present 2010 Sprint incentives to
credit union partners
CO-OP My Deposit Mobile enables
credit union members to “snap
and deposit” checks using mobile
phones
CUNA Operations Council releases
CRM Strategies white paper
Online conversation
People’s Credit Union announces
appointment of new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                    TELL A FRIEND

  Created with eNewsBuilder




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Events




Wednesday, December 22, 2010                                                                 January 2011                            VOLUME 4 ISSUE 1

HOME                                                  The Great New England Credit Union Show is coming!
                                                      3rd Annual - Thursday, April 21 at Boxborough Holiday Inn
TOPICS
                                                                On April 20, the Credit Union Association of Rhode Island, and the
President's Message
                                                      Massachusetts and New Hampshire Credit Union Leagues, and the Warren
Legislative & Regulatory                              Group will host the third annual The Great New England Credit Union Show
CU News                                               in the Parade Exhibition Room at the Holiday Inn in Boxborough,
                                                      Massachusetts. This one-day credit union event will present a showcase of
Community Involvement
                                                      services, equipment and technology, as well as seminars of particular
Events                                                relevance for credit unions.
Business Solutions                                    [FULL STORY]

People
Calendar
Careers

CONTENTS
President's Message
Fed issues plan to extend TILA,
Consumer Leasing Act
Agencies issue guidelines on real
estate appraisals/evaluations
CUNA communicates interchange
misgivings to Fed
SAFE Act registration to begin in
late January, NCUA says
Credit union director fin-lit rules
kick in this month: NCUA
2011 IRS mileage rate sees slight
increase
NCUA Baord addresses low-
income members, credit unions at
December 16 meeting
Prepaid debit cards could also see
new regs
Credit Union Governmental Affairs
Day – Save the Date
CUNA HR/TD Council announces
award program
Treasury finalizes Go Direct
deadline




http://www.enewsbuilder.net/necusri/e_000488236000102787.cfm?x=b11,0,w (1 of 2) [7/14/2011 3:26:07 PM]
Events


Auto loan delinquencies and
repossessions down
Fed: 75% of noncash payments
are made electronically
Westerly Community Credit
Union’s ‘Mystery Envelope- Can
Good Drive’ brings in over 1200
items for local food pantries
People’s Credit Union donates gift
cards to domestic violence centers
The Great New England Credit
Union Show is coming!
NECUS, Invest in America,
present 2010 Sprint incentives to
credit union partners
CO-OP My Deposit Mobile enables
credit union members to “snap
and deposit” checks using mobile
phones
CUNA Operations Council releases
CRM Strategies white paper
Online conversation
People’s Credit Union announces
appointment of new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                    TELL A FRIEND

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Business Solutions




Wednesday, December 22, 2010                                                                 January 2011                                       VOLUME 4 ISSUE 1

HOME                                                  NECUS, Invest in America, present 2010 Sprint incentives to credit union
TOPICS
                                                      partners
                                                      New England Credit Union Services (NECUS) was happy to be the bearer
President's Message                                   of glad tidings to participants in Invest in America’s Sprint Credit Union
                                                      Member Discount program. NECUS COO and Curt Belaney, CU Corp
Legislative & Regulatory
                                                      sales manager traveled from credit union to credit union with Sprint
CU News                                               Marketing Incentive Checks each credit union earned for its participation
Community Involvement                                 in the program. The credit unions were happy to receive this early holiday
                                                      present of thousands of dollars simply because they extended discounts
Events
                                                      on Sprint Nextel services to their members.
Business Solutions                                    [FULL STORY]
People
Calendar                                              CO-OP My Deposit Mobile enables credit union members to “snap and
Careers                                               deposit” checks using mobile phones
                                                          Further enhancing convenient access to accounts for credit union members, CO-OP
CONTENTS                                              Financial Services is introducing CO-OP My Deposit Mobile, allowing members to “snap
President's Message                                   and deposit” checks from anywhere using their mobile phones.
                                                      [FULL STORY]
Fed issues plan to extend TILA,
Consumer Leasing Act
Agencies issue guidelines on real
estate appraisals/evaluations                         CUNA Operations Council releases CRM Strategies white paper
CUNA communicates interchange                            Data has become an essential raw material for American business, almost on a par with
misgivings to Fed                                     capital and labor. It is hard to pinpoint precisely when this digital transformation took place,
SAFE Act registration to begin in                     but it had its tipping point in Y2K when organizations rebuilt technology architectures and
late January, NCUA says                               prepared for a meltdown that failed to materialize.
                                                      [FULL STORY]
Credit union director fin-lit rules
kick in this month: NCUA
2011 IRS mileage rate sees slight                     Online conversation
increase                                              Members United Bridge Corporate Federal Credit Union’s Answer Board encourages two-way
NCUA Baord addresses low-                             communication
income members, credit unions at
December 16 meeting                                   To make certain members receive the most accurate information, Members United Bridge Corporate
                                                      Federal Credit Union has created the online Answer Board (www.membersunited.org/AnswerBoard).
Prepaid debit cards could also see
new regs
                                                      The Answer Board is a forum that facilitates open communication between
Credit Union Governmental Affairs
                                                      members and Members United. Members may ask questions about Members United’s Forward Together
Day – Save the Date
                                                      business plan and related efforts for the future (remaining anonymous if they wish). Answers are posted
CUNA HR/TD Council announces                          for all to see.
award program                                         [FULL STORY]
Treasury finalizes Go Direct
deadline




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  Business Solutions


 Auto loan delinquencies and
 repossessions down
 Fed: 75% of noncash payments
 are made electronically
 Westerly Community Credit
 Union’s ‘Mystery Envelope- Can
 Good Drive’ brings in over 1200
 items for local food pantries
 People’s Credit Union donates gift
 cards to domestic violence centers
 The Great New England Credit
 Union Show is coming!
 NECUS, Invest in America,
 present 2010 Sprint incentives to
 credit union partners
 CO-OP My Deposit Mobile enables
 credit union members to “snap
 and deposit” checks using mobile
 phones
 CUNA Operations Council releases
 CRM Strategies white paper
 Online conversation
 People’s Credit Union announces
 appointment of new Information
 Technology Manager
 Holiday
 Association Calendar
 Job Postings

 ARCHIVE
 June 2011
 May 31, 2011
 Vol. 4 Issue 6
 May 2011
 May 9, 2011
 Vol. 4 Issue 5
 April 2011
 March 31, 2011
 Vol. 4 Issue 4
 March 2011
 February 27, 2011
 Vol. 4 Issue 3
 February 2011
 January 24, 2011
 Vol. 4 Issue 2

 Published by Credit Union Association of Rhode Island                                                     TELL A FRIEND

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People




Wednesday, December 22, 2010                                                                 January 2011                                     VOLUME 4 ISSUE 1

HOME                                                  People’s Credit Union announces appointment of new Information
TOPICS
                                                      Technology Manager
                                                          Amy Martel, EVP & chief operating officer of People’s Credit Union, is pleased to
President's Message                                   announce the appointment of Christopher J. Eden to Information Technology
                                                      Manager. In this position, Eden will oversee all aspects of the credit union’s
Legislative & Regulatory
                                                      information technology management including the development and
CU News                                               recommendation of objectives, policies, procedures, and technology related projects
Community Involvement                                 and initiatives.
                                                      [FULL STORY]
Events
Business Solutions
People
Calendar
Careers

CONTENTS
President's Message
Fed issues plan to extend TILA,
Consumer Leasing Act
Agencies issue guidelines on real
estate appraisals/evaluations
CUNA communicates interchange
misgivings to Fed
SAFE Act registration to begin in
late January, NCUA says
Credit union director fin-lit rules
kick in this month: NCUA
2011 IRS mileage rate sees slight
increase
NCUA Baord addresses low-
income members, credit unions at
December 16 meeting
Prepaid debit cards could also see
new regs
Credit Union Governmental Affairs
Day – Save the Date
CUNA HR/TD Council announces
award program
Treasury finalizes Go Direct
deadline




http://www.enewsbuilder.net/necusri/e_000488236000102788.cfm?x=b11,0,w (1 of 2) [7/14/2011 3:26:12 PM]
People


Auto loan delinquencies and
repossessions down
Fed: 75% of noncash payments
are made electronically
Westerly Community Credit
Union’s ‘Mystery Envelope- Can
Good Drive’ brings in over 1200
items for local food pantries
People’s Credit Union donates gift
cards to domestic violence centers
The Great New England Credit
Union Show is coming!
NECUS, Invest in America,
present 2010 Sprint incentives to
credit union partners
CO-OP My Deposit Mobile enables
credit union members to “snap
and deposit” checks using mobile
phones
CUNA Operations Council releases
CRM Strategies white paper
Online conversation
People’s Credit Union announces
appointment of new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                    TELL A FRIEND

  Created with eNewsBuilder




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Calendar




Wednesday, December 22, 2010                                                                 January 2011                                  VOLUME 4 ISSUE 1

HOME                                                  Holiday
                                                          The Association office will be closed Monday, January 17 in honor of Martin Luther
TOPICS                                                King Day. The Association's regular office hours are Monday through Friday 8:00 a.m.
President's Message                                   to 5:00 p.m.

Legislative & Regulatory
CU News
Community Involvement
Events
Business Solutions
People                                                Association Calendar
Calendar                                              For a listing of upcoming Association programs and events, click here.
Careers

CONTENTS
President's Message
Fed issues plan to extend TILA,
Consumer Leasing Act
Agencies issue guidelines on real
estate appraisals/evaluations
CUNA communicates interchange
misgivings to Fed
SAFE Act registration to begin in
late January, NCUA says
Credit union director fin-lit rules
kick in this month: NCUA
2011 IRS mileage rate sees slight
increase
NCUA Baord addresses low-
income members, credit unions at
December 16 meeting
Prepaid debit cards could also see
new regs
Credit Union Governmental Affairs
Day – Save the Date
CUNA HR/TD Council announces
award program
Treasury finalizes Go Direct
deadline




http://www.enewsbuilder.net/necusri/e_000488236000102790.cfm?x=b11,0,w (1 of 2) [7/14/2011 3:26:14 PM]
Calendar


Auto loan delinquencies and
repossessions down
Fed: 75% of noncash payments
are made electronically
Westerly Community Credit
Union’s ‘Mystery Envelope- Can
Good Drive’ brings in over 1200
items for local food pantries
People’s Credit Union donates gift
cards to domestic violence centers
The Great New England Credit
Union Show is coming!
NECUS, Invest in America,
present 2010 Sprint incentives to
credit union partners
CO-OP My Deposit Mobile enables
credit union members to “snap
and deposit” checks using mobile
phones
CUNA Operations Council releases
CRM Strategies white paper
Online conversation
People’s Credit Union announces
appointment of new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                    TELL A FRIEND

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Careers




Wednesday, December 22, 2010                                                                 January 2011                                    VOLUME 4 ISSUE 1

HOME                                                  Job Postings
                                                      For a complete list of current job postings, click here.
TOPICS
President's Message                                   If you would like to have your job listed on the Association’s website, please submit to jobs@cucenter.
Legislative & Regulatory                              org.
CU News
Community Involvement
Events
Business Solutions
People
Calendar
Careers

CONTENTS
President's Message
Fed issues plan to extend TILA,
Consumer Leasing Act
Agencies issue guidelines on real
estate appraisals/evaluations
CUNA communicates interchange
misgivings to Fed
SAFE Act registration to begin in
late January, NCUA says
Credit union director fin-lit rules
kick in this month: NCUA
2011 IRS mileage rate sees slight
increase
NCUA Baord addresses low-
income members, credit unions at
December 16 meeting
Prepaid debit cards could also see
new regs
Credit Union Governmental Affairs
Day – Save the Date
CUNA HR/TD Council announces
award program
Treasury finalizes Go Direct
deadline




http://www.enewsbuilder.net/necusri/e_000488236000102791.cfm?x=b11,0,w (1 of 2) [7/14/2011 3:26:16 PM]
Careers


Auto loan delinquencies and
repossessions down
Fed: 75% of noncash payments
are made electronically
Westerly Community Credit
Union’s ‘Mystery Envelope- Can
Good Drive’ brings in over 1200
items for local food pantries
People’s Credit Union donates gift
cards to domestic violence centers
The Great New England Credit
Union Show is coming!
NECUS, Invest in America,
present 2010 Sprint incentives to
credit union partners
CO-OP My Deposit Mobile enables
credit union members to “snap
and deposit” checks using mobile
phones
CUNA Operations Council releases
CRM Strategies white paper
Online conversation
People’s Credit Union announces
appointment of new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                    TELL A FRIEND

  Created with eNewsBuilder




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President's Message




Wednesday, December 22, 2010                                                                   January 2011                                  VOLUME 4 ISSUE 1

HOME                                        President's Message
                                            by Daniel F. Egan, Jr.
TOPICS
                                            The new year is a time for resolutions that define new beginnings. As such, it presents an ideal opportunity for
President's Message
                                            us to consider defining a modern image for credit unions. After the last three years of economic turmoil, there is
Legislative & Regulatory                    a need and an opportunity to identify credit unions as the modern day model for resolving the complexities of
CU News                                     families’ financial lives.
Community Involvement
                                            Now more than ever, the media is focused on identifying resources for consumers that can assist them in
Events
                                            understanding and controlling their financial transactions. Whether the focus is on savings, credit cards,
Business Solutions                          mortgages, or car loans, invariably credit unions are identified as the financial institution which provides the best
People                                      “consumer friendly” financial advice. Credit unions must embrace this role and promote it to both existing and
                                            new members.
Calendar
Careers                                     The solution to American families’ financial needs is a community based, non-profit cooperative institution.
                                            Credit unions, like the TV series Cheers, is the place where everybody knows your name. It is the only place
CONTENTS
                                            where financial advice is given to benefit the consumer and not some third party who will profit from your
President's Message                         transaction.
Fed issues plan to extend
TILA, Consumer Leasing                      Best wishes for 2011.
Act                                         [PRINTER FRIENDLY VERSION]

Agencies issue guidelines
on real estate appraisals/
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001974213.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:26:18 PM]
President's Message


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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President's Message


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Fed issues plan to extend TILA, Consumer Leasing Act




Wednesday, December 22, 2010                                                                   January 2011                              VOLUME 4 ISSUE 1

HOME                                        Fed issues plan to extend TILA, Consumer Leasing Act
                                            The Federal Reserve Board (Fed) proposed two rules that would expand the coverage of consumer protection
TOPICS                                      regulations to credit transactions, as well as double the dollar amount of consumer leases that would be
President's Message                         covered.

Legislative &
Regulatory
                                            The proposed rules would amend Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) to
                                            implement a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
CU News
Community Involvement                       Starting July 21, 2011, the Dodd-Frank Act requires that the protections of the Truth in Lending Act (TILA) and
Events                                      the Consumer Leasing Act (CLA) apply to consumer credit transactions and consumer leases up to $50,000,
                                            compared with $25,000 currently. This amount will be adjusted annually to reflect any increase in the Consumer
Business Solutions
                                            Price Index.
People
Calendar                                    TILA requires creditors to disclose key terms of consumer loans and prohibits creditors from engaging in certain
Careers
                                            practices with respect to those loans. Currently, consumer loans of more than $25,000 are generally exempt
                                            from TILA. However, private education loans and loans secured by real property, such as mortgages, are
CONTENTS                                    subject to TILA regardless of the amount of the loan.

President's Message
                                            The CLA requires lessors to provide consumers with disclosures regarding the cost and other terms of personal
Fed issues plan to extend                   property leases, such as an automobile lease.
TILA, Consumer Leasing
Act
                                            The Fed said comments must be submitted by February 1, 2011. The notices that will be published in the
Agencies issue guidelines                   Federal Register are linked below. Comments on the proposals must be submitted by the later of 30 days after
on real estate appraisals/                  publication in the Federal Register or February 1, 2011. Click on the following links to view the proposed
evaluations                                 regulations: Regulation Z Proposal and Regulation M Proposal
CUNA communicates                           [PRINTER FRIENDLY VERSION]
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001972157.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:26:20 PM]
Fed issues plan to extend TILA, Consumer Leasing Act


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Fed issues plan to extend TILA, Consumer Leasing Act


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Agencies issue guidelines on real estate appraisals/evaluations




Wednesday, December 22, 2010                                                                   January 2011                                    VOLUME 4 ISSUE 1

HOME                                            Agencies issue guidelines on real estate appraisals/evaluations
                                                The National Credit Union Administration (NCUA), in conjunction with other federal financial institution
TOPICS                                          regulators, has emphasized that financial institutions are responsible for selecting appraisers and people
President's Message                             performing evaluations based on their competence, experience, and knowledge of the market and type of
                                                property being valued.
Legislative &
Regulatory
                                                The NCUA and the Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit
CU News                                         Insurance Corporation, and the Office of Thrift Supervision, in recently released guidance, also noted that
Community Involvement                           financial institutions should demonstrate the independence of their processes for obtaining property values and
                                                adopt standards for appropriate communications and information-sharing with appraisers and people performing
Events
                                                evaluations.
Business Solutions
People                                          The NCUA and related regulators, who comprise the Federal Financial Institutions Examination Council (FFIEC)
Calendar                                        also called on financial institutions to maintain strong internal controls to ensure reliable appraisals and
                                                evaluations, and added that those institutions are responsible for monitoring and occasionally updating
Careers
                                                valuations of collateral for existing real estate loans and for transactions, such as modifications and workouts.
CONTENTS
                                                The FFIEC guidelines, in the works for more than two years, replace guidance that was issued in 1994 and
President's Message                             incorporate recent supervisory releases on appraisal practices. The new release also updates the guidance to
Fed issues plan to extend                       better reflect changes in technology that have occurred during the last 16 years.
TILA, Consumer Leasing
Act                                             "Financial institutions should review their appraisal and evaluation programs to ensure they are consistent with
Agencies issue guidelines                       the guidelines," an FFIEC release said.
on real estate appraisals/
evaluations                                     The new guidance was first proposed by the regulators in 2008, and the Credit Union National Association in
CUNA communicates                               early 2009 said that credit unions were already taking "the necessary safeguards to ensure the integrity of the
interchange misgivings to                       appraisal process" and were "meeting the expectations outlined in the guidelines."
Fed
SAFE Act registration to                        For the guidance, use this resource link. Appraisal Guidelines
begin in late January,                          [PRINTER FRIENDLY VERSION]
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001972161.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:26:22 PM]
Agencies issue guidelines on real estate appraisals/evaluations


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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CUNA communicates interchange misgivings to Fed




Wednesday, December 22, 2010                                                                   January 2011                                 VOLUME 4 ISSUE 1

HOME                                        CUNA communicates interchange misgivings to Fed
                                            The Federal Reserve's (Fed) recently introduced proposed rule on interchange fees confirms the Credit Union
TOPICS                                      National Association's (CUNA) "worst fears about the inadequacies of the purported protections" for credit
President's Message                         unions and other smaller issuers of debit cards, CUNA President/CEO Bill Cheney has said.

Legislative &
Regulatory
                                            The Fed has left its proposal open for public comment until February 22, and Cheney quickly responded to the
                                            interchange announcement via a letter to Fed Chairman Ben Bernanke summarizing CUNA's initial concerns. A
CU News                                     more detailed comment letter is also under development.
Community Involvement
Events                                      The Fed proposal could cap debit card interchange fees that are paid by merchants to card issuers at 12 cents
                                            per transaction. Issuers with under $10 billion in assets would be exempt from the interchange changes.
Business Solutions
People                                      However, Cheney has cast doubt on the effectiveness of the proposed asset limit, noting the lack of any
Calendar                                    enforcement mechanism to protect small issuers, which are supposed to be exempted from the law's provisions.
Careers
                                            The loss of interchange fee income for small issuers and the costs of having to belong to more payment
                                            networks will have a "horrendous impact" on credit unions that offer debit cards, as well as their ability to build
CONTENTS                                    net worth, Cheney added. Cheney also noted that the complex routing provisions contained in the proposal
                                            would burden smaller issuers with even greater costs.
President's Message                         [PRINTER FRIENDLY VERSION]
Fed issues plan to extend
TILA, Consumer Leasing
Act
Agencies issue guidelines
on real estate appraisals/
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001974965.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:26:24 PM]
CUNA communicates interchange misgivings to Fed


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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SAFE Act registration to begin in late January, NCUA says




Wednesday, December 22, 2010                                                                   January 2011                                    VOLUME 4 ISSUE 1

HOME                                         SAFE Act registration to begin in late January, NCUA says
                                             The initial period for federal registration of residential mortgage loan originators under the Secure and Fair
TOPICS                                       Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) will begin on or around January 31, the National
President's Message                          Credit Union Administration (NCUA) announced.

Legislative &
Regulatory
                                             This initial registration period will likely end in late July, the agency added.

CU News
                                             The NCUA, the Federal Deposit Insurance Corporation, the Federal Reserve, the Office of the Comptroller of
Community Involvement                        the Currency, the Office of Thrift Supervision, and the Farm Credit Administration will individually confirm the
Events                                       start date just prior to the beginning of the registration period.
Business Solutions
                                             A notice will also be published in the Federal Register, the NCUA added.
People
Calendar                                     Under the SAFE Act, employees of financial institutions, or their subsidiaries that act as residential loan
Careers                                      originators, are required to register with the Nationwide Mortgage Licensing System and Registry. The SAFE Act
                                             requires mortgage originators to obtain a unique identifier, and to maintain their registration.
CONTENTS
President's Message                          One of the most troublesome aspects of the new provisions relates to the application of the registration
                                             requirements to members of the Board of Directors. In general, the Federal Credit Union Act requires all loans
Fed issues plan to extend                    by federal credit unions to be approved by a credit committee or loan officer. Similar provisions apply to state
TILA, Consumer Leasing
                                             chartered credit unions and/or their Board of Directors. Under the new rules, these individuals will be considered
Act
                                             “mortgage loan originators.” Credit union volunteers who meet the definition of “mortgage loan originator” will
Agencies issue guidelines                    also be subject to these rules, assuming they otherwise act as employees in that the credit union controls, or
on real estate appraisals/                   has the right to control, the performance of the volunteer’s work
evaluations
CUNA communicates                            Financial institutions that are subject to the SAFE Act requirements must require employees acting as residential
interchange misgivings to                    mortgage loan originators to comply with the act's requirements to register and obtain a unique identifier, and
Fed                                          must adopt and follow written policies and procedures designed to assure compliance with these requirements.
SAFE Act registration to
begin in late January,                       With respect to compliance implications, the Association and the Credit Union National Association worked
NCUA says                                    tirelessly to secure a recent interpretation by the NCUA to provide greater flexibility to credit unions in this area
Credit union director fin-lit                and to reduce the regulatory burden. If there is a SAFE-registered employee handling the application and taking
rules kick in this month:                    it to the Credit Committee or the Board of Directors when action by such committee or board is required, then
NCUA                                         the employee can fulfill the requirements and be the registered person. Therefore, no volunteer needs to be
                                             registered. For credit unions with only a Credit Committee and no loan officers, only one member of the
2011 IRS mileage rate
                                             committee needs to be registered. Furthermore, if certain loans are approved by a Credit Committee, such as
sees slight increase
                                             those over a specified dollar amount, even though the credit union has registered loan officers, members of the
NCUA Baord addresses                         Credit Committee do not have to register.
low-income members,
credit unions at December
                                             For the full NCUA release, click here.
16 meeting
                                             [PRINTER FRIENDLY VERSION]
Prepaid debit cards could
also see new regs




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SAFE Act registration to begin in late January, NCUA says


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Credit union director fin-lit rules kick in this month: NCUA




Wednesday, December 22, 2010                                                                   January 2011                                      VOLUME 4 ISSUE 1

HOME                                            Credit union director fin-lit rules kick in this month: NCUA
                                                National Credit Union Administration (NCUA) rules that require credit union directors to have or gain an
TOPICS                                          understanding of "basic finance and accounting practices" will come into effect on January 27, the agency has
President's Message                             said.

Legislative &
Regulatory
                                                In December, the NCUA introduced and approved a proposal that requires credit union directors to not only
                                                carry out their duties in good faith, but also have or gain an understanding of "basic finance and accounting
CU News                                         practices."
Community Involvement
Events                                          According to the NCUA, credit union directors who are added or elected before the January 27 effective date
                                                must comply with the financial literacy requirements by July 27. Directors who are not yet well-versed in financial
Business Solutions
                                                terminology or have not yet received financial literacy training should do so in 2011, the NCUA said.
People
Calendar                                        Directors who join credit unions after January 1 must comply with the financial literacy standards within six
Careers
                                                months of their join date. The NCUA said that it will offer training via a workshop provided through its Office of
                                                Small Credit Union Initiatives.
CONTENTS
                                                In the December 20, 2010 issue of News Now, the Credit Union National Association (CUNA) announced that it
President's Message
                                                is offering a Board Financial Literacy Certificate in response to the new NCUA board financial literacy
Fed issues plan to extend                       requirements.
TILA, Consumer Leasing
Act
                                                To read the complete NCUA release, click here.
Agencies issue guidelines
on real estate appraisals/
                                                For more information on Board Literacy Certification programs, contact Association Senior Vice President Bill
evaluations
                                                Nagle bnagle@cucenter.org or (800) 842-1242, extension 312.
CUNA communicates                               [PRINTER FRIENDLY VERSION]
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




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Credit union director fin-lit rules kick in this month: NCUA


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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2011 IRS mileage rate sees slight increase




Wednesday, December 22, 2010                                                                   January 2011                                   VOLUME 4 ISSUE 1

HOME                                         2011 IRS mileage rate sees slight increase
                                             The Internal Revenue Service (IRS) issued the 2011 optional standard mileage rates used to calculate the
TOPICS                                       deductible costs of operating an automobile for business, charitable, medical, or moving purposes. The standard
President's Message                          mileage rate for business miles driven will be 51 cents per mile, up from 50 cents per mile in 2010.

Legislative &
Regulatory
                                             The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating
                                             an automobile. The rate for medical and moving purposes is based on the variable costs as determined by the
CU News                                      same study.
Community Involvement
Events                                       Beginning on January 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel
                                             trucks) is:
Business Solutions
People                                             ●   51 cents per mile for business miles driven
Calendar                                           ●   19 cents per mile driven for medical or moving purposes
Careers
                                                   ●   14 cents per mile driven in service of charitable organizations

CONTENTS                                     While there was a 1 cent increase this year in cents per mile for business miles driven, the rate (51 cents per
                                             mile) is still lower than the rate in 2009 (55 cents per mile), and the second half of 2008 (58.5 cents per mile.)
President's Message
Fed issues plan to extend                    The optional business standard mileage rate is used to compute the deductible costs of operating an automobile
TILA, Consumer Leasing
                                             for business use in lieu of tracking actual costs. This rate is also used as a benchmark by the federal
Act
                                             government and many businesses to reimburse their employees for mileage.
Agencies issue guidelines
on real estate appraisals/                   Employers that use the IRS standard mileage rate to reimburse employees may deduct the reimbursement as a
evaluations                                  business expense. If employers use the approved rate (or a lower rate), the IRS considers that requirements to
CUNA communicates                            substantiate and adequately account for the expense are satisfied without extensive documentation of actual
interchange misgivings to                    expenses.
Fed                                          [PRINTER FRIENDLY VERSION]
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




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2011 IRS mileage rate sees slight increase


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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NCUA Baord addresses low-income members, credit unions at December 16 meeting




Wednesday, December 22, 2010                                                                   January 2011                                VOLUME 4 ISSUE 1

HOME                                        NCUA Baord addresses low-income members, credit unions at December 16
TOPICS
                                            meeting
                                            At the December 16 Board meeting, the National Credit Union Administration (NCUA) approved, for a sixty-day
President's Message                         comment period, a proposal that would permit federal credit unions to use "statistically valid" random samples of
                                            member income data to prove their low-income status to the agency.
Legislative &
Regulatory
                                            Specifically, the NCUA would allow credit unions to randomly draw sample data on member incomes from loan
CU News
                                            files or surveys. Currently, sample data must be actual income data that is drawn from a minimum of 50% of a
Community Involvement                       credit union's membership, plus one additional credit union member.
Events
Business Solutions                          The NCUA currently determines a credit union's low-income status via the results of its own geo-coding
                                            software, which uses census data to determine the average income of a membership area. The use of sampling
People                                      is an alternative way to obtain low-income designation; geo-coding will still be employed in some instances.
Calendar
Careers                                     The financial status of individual members was also addressed during the meeting, with the NCUA making final
                                            an earlier proposal that would amend the definition of "low-income members" to clarify that for purposes of
CONTENTS                                    determining a low income credit union (LICU) designation, the comparison of credit union data, whether
                                            individual or family income data, must be with statistical data for the same category.
President's Message
Fed issues plan to extend                   The status of an individual credit union was also addressed during the meeting, with the NCUA deciding to
TILA, Consumer Leasing
                                            uphold a regional determination that Tri-State Federal Credit Union would not be permitted to expand its field of
Act
                                            membership to include members of a local YMCA. The Board determined that the requirements for common
Agencies issue guidelines                   bond association had not been met by the Pennsylvania-based credit union.
on real estate appraisals/                  [PRINTER FRIENDLY VERSION]
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001974968.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:26:33 PM]
NCUA Baord addresses low-income members, credit unions at December 16 meeting


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Prepaid debit cards could also see new regs




Wednesday, December 22, 2010                                                                   January 2011                                VOLUME 4 ISSUE 1

HOME                                          Prepaid debit cards could also see new regs
                                              Legislation that would eliminate many hidden fees associated with prepaid debit cards and increase
TOPICS                                        transparency regarding prepaid debit card fees was recently introduced by Senator Robert Menendez (D-NJ).
President's Message                           The legislation, which was co-sponsored by Senators Richard Durbin (D-IL) and Jeff Merkley (D-OR) would
                                              focus on reloadable plastic cards that are often used as substitutes for checking accounts, debit cards, and
Legislative &                                 credit cards.
Regulatory
CU News                                       According to a release, the legislation would require full fee disclosures at the time of purchase, including a
Community Involvement                         wallet-sized summary of all fees and a toll-free telephone number for customer service. The legislation would
                                              also ban the producers of these cards from charging overdraft fees, balance inquiry fees, customer service fees,
Events
                                              inactivity fees, account closure fees, and other types of fees.
Business Solutions
People                                        Consumers would also be protected against loss or theft, and would have any funds attached to these cards
Calendar                                      backed by insurance in the event that the card provider goes bankrupt.
Careers
                                              The Consumer Financial Protection Bureau and the Federal Deposit Insurance Corporation would issue
CONTENTS                                      regulations within nine months of the legislation's enactment.

President's Message
                                              While the exact number that would be impacted is not known at this time, the legislation could impact credit
Fed issues plan to extend                     unions, Credit Union National Association (CUNA) Senior Vice President for Compliance Kathy Thompson said.
TILA, Consumer Leasing
Act
                                              CUNA expects similar legislation to be re-introduced in the 112th Congress, and CUNA will meet with the
Agencies issue guidelines                     legislation's sponsors to discuss their concerns.
on real estate appraisals/
evaluations                                   For the full release, use this link: Congressional Release.
CUNA communicates                             [PRINTER FRIENDLY VERSION]
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001974975.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:26:35 PM]
Prepaid debit cards could also see new regs


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Credit Union Governmental Affairs Day – Save the Date




Wednesday, December 22, 2010                                                                   January 2011                             VOLUME 4 ISSUE 1

HOME                                        Credit Union Governmental Affairs Day – Save the Date
                                            Save the date for the next Credit Union Governmental Affairs Day to be held on Thursday, January 27, 2011
TOPICS                                      from 4:00 – 6:00 p.m. in the Governor’s State Room at the State House in Providence. Online registration is
President's Message                         open on the Credit Union Association of Rhode Island’s website shortly.
                                            [PRINTER FRIENDLY VERSION]
Legislative & Regulatory
CU News
Community Involvement
Events
Business Solutions
People
Calendar
Careers

CONTENTS
President's Message
Fed issues plan to extend
TILA, Consumer Leasing
Act
Agencies issue guidelines
on real estate appraisals/
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001972175.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:26:37 PM]
Credit Union Governmental Affairs Day – Save the Date


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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CUNA HR/TD Council announces award program




Wednesday, December 22, 2010                                                                   January 2011                               VOLUME 4 ISSUE 1

HOME                                        CUNA HR/TD Council announces award program
                                            Entries Being Accepted for 2011 HR/TD Excellence Awards
TOPICS
                                            Entries are now being accepted for the 2011HR/TD Excellence Awards, sponsored by the CUNA HR/Training &
President's Message
                                            Development (HR/TD) Council.
Legislative & Regulatory
CU News                                     Recognition will be given in three major categories:
Community Involvement                       Award for Employee Engagement– Including HR /training department programs related to internal
                                            communications, staff development, rewards and recognition, employee satisfaction, community involvement,
Events
                                            among others.
Business Solutions
People
                                            Award for HR/TD Management Practices– Covers programs that include compensation and
Calendar
                                            benefits, recruitment and retention, training design and implementation, workforce diversity, among
Careers                                     others.
                                            Award for HR/TD Strategic Leadership– Recognizes a senior HR/TD professional who has made
CONTENTS                                    significant contributions or taken an innovative approach in areas such as: innovative business
President's Message                         solutions, change management, succession planning, culture building, learning development
                                            strategy, leadership development, among others.
Fed issues plan to extend
TILA, Consumer Leasing
Act
                                            A panel of HR/TD peers will review entries and determine winner based upon criteria that includes considering a
                                            program’s innovation, business outcomes/impact, sustainability, quality, and integration.
Agencies issue guidelines
on real estate appraisals/
evaluations
                                            “The CUNA HR/TD Council leaders wanted to highlight truly excellent approaches to HR, training and
                                            development programs,” according to Executive Committee chair Jennifer Morse, VP of HR at Empower FCU in
CUNA communicates                           Syracuse, NY. Morse noted that “by creating the HR/TD Excellence Awards we look to both salute and
interchange misgivings to                   showcase programs of merit and an outstanding individual.” Morse expects that “Credit unions will enter both to
Fed                                         recognize their accomplishments and to share their successes with others.”
SAFE Act registration to
begin in late January,                      All entries for these awards must be received by 5:00 p.m. (CST) January 14, 2011. Winners will be notified by
NCUA says                                   March 1, 2011. Winners will receive industry recognition and a complementary registration to the 2011 CUNA
Credit union director fin-lit               HR/TD National Conference at Hyatt Fisherman’s Wharf in San Francisco. Awards will be presented to winners
rules kick in this month:                   at the conference.
NCUA
2011 IRS mileage rate                       Additional information about categories and entry forms are available at www.cunahrtdcouncil.org.
sees slight increase                        For information pertaining to the award or submittals, contact Bobbi Bischke, at (800) 356-9655, ext. 4018, or e-
NCUA Baord addresses                        mail bbischke@cuna.coop.
low-income members,                         [PRINTER FRIENDLY VERSION]
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001972192.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:26:39 PM]
CUNA HR/TD Council announces award program


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Treasury finalizes Go Direct deadline




Wednesday, December 22, 2010                                                                   January 2011                                   VOLUME 4 ISSUE 1

HOME                                        Treasury finalizes Go Direct deadline
                                            The U.S. Treasury has finalized a rule that will require all federal benefits that are filed on or after March 1, 2011
TOPICS                                      to be paid electronically via the Go Direct program.
President's Message
                                            Those that currently receive paper checks will need to switch to direct deposit by March 1, 2013, the Treasury
Legislative & Regulatory
                                            added.
CU News
Community Involvement                       The Treasury has also created a Go Direct public education campaign to provide information on the benefit
Events                                      payment changes and to inform recipients of how they can change to direct deposit via an online portal or a toll-
                                            free helpline.
Business Solutions
People                                      Treasury Fiscal Assistant Secretary Richard Gregg noted that eight in 10 federal benefit recipients already use
Calendar                                    direct deposit. "Now millions of additional retirees, veterans, and other Americans will also receive their money
                                            in the safest, most reliable way--electronically," he added. The change to electronic benefit distribution "will
Careers
                                            provide significant savings to American taxpayers who will no longer incur the annual $120 million price tag
CONTENTS                                    associated with paper checks and will save Social Security $1 billion over the next 10 years," Gregg added.

President's Message
                                            Social Security, Supplemental Security Income, Veterans Affairs, Railroad Retirement Board, Office of
Fed issues plan to extend                   Personnel Management benefits and other non-tax payments will be made via the Go Direct program.
TILA, Consumer Leasing
Act
                                            For the Treasury's release, click here.
Agencies issue guidelines                   [PRINTER FRIENDLY VERSION]
on real estate appraisals/
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001975865.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:26:41 PM]
Treasury finalizes Go Direct deadline


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Auto loan delinquencies and repossessions down




Wednesday, December 22, 2010                                                                   January 2011                                VOLUME 4 ISSUE 1

HOME                                         Auto loan delinquencies and repossessions down
                                             Consumers did a better job repaying their auto loans during third quarter 2010 than they did during third quarter
TOPICS                                       2009. Both delinquencies and repossessions dropped, and lenders loosened loan criteria, according to Experian
President's Message                          Automotive's quarterly analysis of the automotive credit industry.

Legislative & Regulatory
                                             New-auto loans accounted for 11.4% of credit unions' loans in October, down slightly from a year earlier, while
CU News                                      used-auto loans were 17.9% of loans, a slight increase over October 2009, according to the Credit Union
Community Involvement                        National Association's Monthly Credit Union Estimates.
Events
                                             Both 30-day and 60-day auto-loan delinquencies dropped for all lenders studied by Experian during third quarter
Business Solutions
                                             2010 from third quarter 2009. Experian said 30-day delinquency fell 8.43%--to 2.99% from 3.27%--while the 60-
People                                       day delinquency rate plunged 17.39%--to 0.77% from 0.93%.
Calendar
                                             Total dollar volume of loans at risk of default dropped by $6.4 billion. Shares of new loans to nonprime
Careers
                                             consumers with credit scores of 620 to 679 rose to 10.86% from 9.709% in the same period for 2009. Subprime
CONTENTS                                     consumers, with credit scores from 550 to 619, comprised 6.61% of loans, while deep-subprime consumers,
                                             with credit scores below 550, rose to 1.59% from 1.46%, the study found.
President's Message                          [PRINTER FRIENDLY VERSION]
Fed issues plan to extend
TILA, Consumer Leasing
Act
Agencies issue guidelines
on real estate appraisals/
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




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Auto loan delinquencies and repossessions down


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Fed: 75% of noncash payments are made electronically




Wednesday, December 22, 2010                                                                   January 2011                                  VOLUME 4 ISSUE 1

HOME                                         Fed: 75% of noncash payments are made electronically
                                             More than 75% of all U.S. noncash payments made during 2009 were made electronically, a 9.3% increase over
TOPICS                                       2006's numbers, the Federal Reserve (Fed) revealed in a study released on December 8.
President's Message
                                             The study found that Americans made nearly 38 billion debit card transactions during 2009, a 12.8 billion
Legislative & Regulatory
                                             payment increase over 2006's numbers, and the largest increase by any payment type during the survey period.
CU News
Community Involvement                        "Debit card usage now exceeds all other forms of noncash payments and, by number of payments, represents
Events                                       approximately 35% of total noncash payments," the survey said. The number of debit card transactions eclipsed
                                             the number of check transactions. The Fed reported a 14.8% increase in the number of debit transactions and a
Business Solutions
                                             7.2% decrease in checks paid between 2006 and 2009.
People
Calendar                                     The Federal Reserve Bank of Atlanta's Richard Oliver said that the results of the study "clearly underscore this
                                             nation's efforts to move toward a more efficient electronic clearing system for all types of retail payments," and
Careers
                                             may also "reflect changing consumer behavior during difficult economic times."
CONTENTS
                                             Credit unions paid 8.6% of all checks cashed nationwide during 2009, and those checks represented 2.3% of
President's Message
                                             the total value of all checks cashed during that time period. The total number of checks paid by credit unions
Fed issues plan to extend                    decreased by just over 8% in between 2006 and 2009, but the average value of those checks increased slightly
TILA, Consumer Leasing                       from $326 in 2006 to $352 in 2009, the study found. The total number of checks paid by credit unions dipped to
Act                                          2.1 billion in 2009, down from the total of 2.7 billion reported in 2006, the study added.
Agencies issue guidelines
on real estate appraisals/                   The study noted that credit unions had higher numbers of debit card-carrying members, due to their emphasis
evaluations                                  on consumer service when compared to commercial banks.
CUNA communicates
interchange misgivings to                    All types of electronic payments, barring credit cards, increased between 2006 and 2009, according to the study.
Fed
SAFE Act registration to                     Click here to see The 2010 Federal Reserve Payments Study.
begin in late January,                       [PRINTER FRIENDLY VERSION]
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




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Fed: 75% of noncash payments are made electronically


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Westerly Community Credit Union’s ‘Mystery Envelope- Can Good Drive’ brings in over 1200 items for local food pantries




Wednesday, December 22, 2010                                                                    January 2011                              VOLUME 4 ISSUE 1

HOME                                         Westerly Community Credit Union’s ‘Mystery Envelope- Can Good Drive’ brings in
TOPICS
                                             over 1200 items for local food pantries
                                                  The Westerly Community Credit Union (WCCU) collected over 1200 can/dry
President's Message                          goods to benefit two area food pantries, WARM Shelter and Pawcatuck
                                             Neighborhood Center. The Can Good Drive was held on one day, Friday,
Legislative & Regulatory
                                             December 3rd, at their main office in Westerly as part of their Renovation
CU News                                      Celebration. Those who brought in three can goods received a Mystery Envelope
Community                                    containing up to $100.
Involvement
Events                                       “The response was overwhelming,” said Meg Sisco, WCCU vice president of
                                             marketing, “It was fun to see the boxes filling with food and the excitement from
Business Solutions
                                             the members as they opened their envelopes to see what they won. We will have
People                                       to try this again soon.”
                                             [PRINTER FRIENDLY VERSION]                                                          Marge Celico (left) and Meg
Calendar
                                                                                                                                 Sisco of Westerly
Careers                                                                                                                          Community Credit Union
                                                                                                                                 look over 18 boxes of food
CONTENTS                                                                                                                         collected for local food
                                                                                                                                 pantries.
President's Message
Fed issues plan to extend
TILA, Consumer Leasing
Act
Agencies issue guidelines
on real estate appraisals/
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001974180.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:26:49 PM]
Westerly Community Credit Union’s ‘Mystery Envelope- Can Good Drive’ brings in over 1200 items for local food pantries


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                                    TELL A FRIEND



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People’s Credit Union donates gift cards to domestic violence centers




Wednesday, December 22, 2010                                                                   January 2011                                   VOLUME 4 ISSUE 1

HOME                                           People’s Credit Union donates gift cards to domestic violence centers
                                                    This is the fourth year People’s has donated gift cards to the Centers during the
TOPICS                                         holidays. The credit union’s Community Enhancement Committee (CEC) organized
President's Message                            the fundraiser and money was raised through employee dress down days. The
                                               cards are distributed to the people at each center to help them buy gifts for family
Legislative & Regulatory                       members and make the holiday season a more enjoyable one.
CU News
Community                                      “These are both wonderful organizations that do so much for many people in our
Involvement                                    community. Because we know things can be especially hard at this time of year, we
                                               are happy to help out people in our community who need it,” commented Tracy
Events
                                               Rothstein, CEC chair.
Business Solutions                             [PRINTER FRIENDLY VERSION]
People                                                                                                                                  An employee from
                                                                                                                                        Women’s Resource Center
Calendar                                                                                                                                of Newport & Bristol
                                                                                                                                        Counties accepted gift
Careers
                                                                                                                                        cards from Community
                                                                                                                                        Enhancement Committee
CONTENTS                                                                                                                                Chairperson Tracy
                                                                                                                                        Rothstein (right).
President's Message
Fed issues plan to extend
TILA, Consumer Leasing
Act
Agencies issue guidelines
on real estate appraisals/
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001975009.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:26:51 PM]
People’s Credit Union donates gift cards to domestic violence centers


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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The Great New England Credit Union Show is coming!




Wednesday, December 22, 2010                                                                   January 2011                                            VOLUME 4 ISSUE 1

HOME                                        The Great New England Credit Union Show is coming!
                                            3rd Annual - Thursday, April 21 at Boxborough Holiday Inn
TOPICS
                                            On April 20, the Credit Union Association of Rhode Island, and the Massachusetts and New Hampshire Credit
President's Message
                                            Union Leagues, and the Warren Group will host the third annual The Great New England Credit Union Show in
Legislative & Regulatory                    the Parade Exhibition Room at the Holiday Inn in Boxborough, Massachusetts. This one-day credit union event
CU News                                     will present a showcase of services, equipment and technology, as well as seminars of particular relevance for
                                            credit unions.
Community Involvement
Events
                                                                                        The Great New England Credit Union Show will bring a host of experts in the
Business Solutions                                                                      financial services field to present the newest breakthrough products and services
People                                                                                  in the credit union marketplace. “We’re delighted to partner with The Warren Group
                                                                                        to produce this important event for the credit union community,” said Bonnie
Calendar
                                                                                        Doolin, Association SVP. “Together we can provide exposure to a broader range of
Careers                                                                                 resources for credit unions than either organization could do singly.”

CONTENTS
                                                                        Industry consultants will be available to meet with attendees to discuss their credit
President's Message                                                     unions’ specific needs. According to Vincent Valvo, group publisher and editor in
                                                                        chief of The Warren Group, over 80 suppliers are expected to present their latest
Fed issues plan to extend
                                            resources and technology for the credit union industry.
TILA, Consumer Leasing
Act
                                            In 2010, The Great New England Credit Union Show brought over 500 attendees to Boxborough. These CEOs,
Agencies issue guidelines
                                            senior and middle managers of credit unions delighted with the array of professionals in their fields who were
on real estate appraisals/
                                            available to discuss the specific issues these credit unions managers looked to address. Comments like “best
evaluations
                                            show I’ve been to” and “I’ve never been to such comprehensive show so close to the credit union before,” were
CUNA communicates                           common among attendees.
interchange misgivings to
Fed
                                            The Great New England Credit Union Show was designed for credit union management, mortgage experts and
SAFE Act registration to                    other financial services professionals as a central forum to learn about new services and technology and
begin in late January,                      industry trends in an easily accessible location. “Boxborough will continue to be our site for the same reasons
NCUA says                                   that drew us to the location initially – its central location, the size of the exhibit hall and the availability of
Credit union director fin-lit               convenient meeting space for seminars – all with plenty of free parking,” Valvo added. “All in all, it’s a nice fit.”
rules kick in this month:
NCUA                                        There is a registration fee of $45.00 per each credit union staffer and official or $495.00 for non-credit union
2011 IRS mileage rate                       attendees. However, credit union employees who are registered through an exhibitor are complimentary!
sees slight increase
NCUA Baord addresses                        For more information or to register for the Great New England Credit Union Show, complete details are available
low-income members,                         by clicking the icon on the Association’s website www.cuassociationri.org or going directly to the website for the
credit unions at December                   show http://www.greatcushow.com/.
16 meeting                                  [PRINTER FRIENDLY VERSION]
Prepaid debit cards could
also see new regs




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The Great New England Credit Union Show is coming!


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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NECUS, Invest in America, present 2010 Sprint incentives to credit union partners




Wednesday, December 22, 2010                                                                   January 2011                                   VOLUME 4 ISSUE 1

HOME                                          NECUS, Invest in America, present 2010 Sprint incentives to credit union partners
                                              New England Credit Union Services (NECUS) was happy to be the bearer of glad tidings to participants in Invest
TOPICS                                        in America’s Sprint Credit Union Member Discount program. Bonnie Doolin, NECUS COO and Curt Belaney, CU
President's Message                           Corp sales manager traveled from credit union to credit union with Sprint Marketing Incentive Checks each
                                              credit union earned for its participation in the program. The credit unions were happy to receive this early holiday
Legislative & Regulatory                      present of thousands of dollars simply because they extended discounts on Sprint Nextel services to their
CU News                                       members.
Community Involvement
                                              About the Program
Events
                                              Through the Sprint Credit Union Member Discount Program, the credit union
Business Solutions                            receives marketing incentives for fulfilling simple marketing requirements. The
People                                        marketing materials are provided to the credit union free of charge. The credit
                                              union also receives a portion of the income generated from national member
Calendar
                                              activations. Since the plan is already available for credit union members, a credit
Careers                                       union can begin promoting it immediately. And Sprint handles all of the member        Arthur Paul, vice president,
                                              service needs associated with the products.                                           marketing, People’s Credit
CONTENTS                                                                                                                            Union (center), receives a
                                                                                                                                    Sprint marketing incentive
President's Message                           The plan offers members a variety of savings on a comprehensive range of              check from Bonnie Doolin,
Fed issues plan to extend
                                              wireless communications services. These services bring the freedom of mobility        COO of New England Credit
TILA, Consumer Leasing
                                              to members, businesses, and government users. Sprint is widely recognized for         Union Services, LLC, and
                                              developing, engineering, and deploying innovative technologies, including two         Curt Belaney, CU Corp sales
Act
                                              wireless networks; industry-leading mobile data services; instant national and        manager.
Agencies issue guidelines                     international push-to-talk capabilities; and a global Tier 1 Internet backbone.
on real estate appraisals/
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,                        Members receive 10 percent off most regularly-priced Sprint Nextel service plans, waived activation fees on new
NCUA says                                     activations, and waived upgrade fees. They can also get additional savings for corporate accounts (15 percent)
                                              and national rates with no roaming or long distance charges. These benefits are available to new and existing
Credit union director fin-lit
rules kick in this month:
                                              Sprint Nextel customers.
NCUA
                                              Credit unions can sign up for the Sprint Credit Union Member Discount Program at www.lovemycreditunion.org
2011 IRS mileage rate
                                              and clicking on ‘partner center, or by contacting Dean Martino, Director of Business Development at 800-842-
sees slight increase
                                              1242, Ext. 315 or dmartino@cucenter.org.
NCUA Baord addresses                          [PRINTER FRIENDLY VERSION]
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




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NECUS, Invest in America, present 2010 Sprint incentives to credit union partners


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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CO-OP My Deposit Mobile enables credit union members to “snap and deposit” checks using mobile phones




Wednesday, December 22, 2010                                                                   January 2011                               VOLUME 4 ISSUE 1

HOME                                        CO-OP My Deposit Mobile enables credit union members to “snap and deposit”
TOPICS
                                            checks using mobile phones
                                            Further enhancing convenient access to accounts for credit union members, CO-OP Financial Services is
President's Message                         introducing CO-OP My Deposit Mobile, allowing members to “snap and deposit” checks from anywhere using
                                            their mobile phones.
Legislative & Regulatory
CU News
                                            “CO-OP My Deposit Mobile helps credit unions attract new members from growing consumer segments that
Community Involvement                       expect flexible, easy access points to their accounts,” said Stan Hollen, president/CEO, CO-OP Financial
Events                                      Services. “These members include the young, the tech-savvy, and those who are cancelling their land lines in
                                            favor of mobile phones.”
Business Solutions
People
Calendar
Careers

CONTENTS
President's Message
Fed issues plan to extend
TILA, Consumer Leasing                      Developed in partnership with mFoundry, CO-OP My Deposit Mobile enables credit unions to provide members
Act                                         with advanced, yet user-friendly, mobile banking technology. By choosing the deposit function on their mobile
Agencies issue guidelines
                                            banking screen, members can view the history of remote deposit capture (RDC) transactions, take a picture of
on real estate appraisals/                  the front and back of the check, enter the check amount and complete the deposit.
evaluations
CUNA communicates
                                            Credit unions already employing CO-OP’s Next Generation Network will benefit from cost-effective, speedy
interchange misgivings to
                                            implementation of CO-OP My Deposit Mobile, with generally no changes required to the credit union’s host
Fed                                         processing system.

SAFE Act registration to
                                            CO-OP My Deposit Mobile is part of the CO-OP Check Imaging Suite. As a client of one or more of these
begin in late January,
NCUA says
                                            services, credit unions can utilize a single Web-based system to clear checks from all RDC points, including the
                                            ATM, home (via flatbed scanner), small businesses (via high-speed scanner) and, now, mobile phones.
Credit union director fin-lit
rules kick in this month:
                                            CO-OP My Deposit Mobile will be available in the first quarter of 2011. For more information, contact
NCUA
                                            Association Director - Business Development Dean Martino at dmartino@cucenter.org or (800) 842-1242,
2011 IRS mileage rate
                                            extension 315.
sees slight increase                        [PRINTER FRIENDLY VERSION]
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




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CO-OP My Deposit Mobile enables credit union members to “snap and deposit” checks using mobile phones


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                   TELL A FRIEND



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CUNA Operations Council releases CRM Strategies white paper




Wednesday, December 22, 2010                                                                   January 2011                                    VOLUME 4 ISSUE 1

HOME                                        CUNA Operations Council releases CRM Strategies white paper
                                            Data has become an essential raw material for American business, almost on a par with capital and labor. It is
TOPICS                                      hard to pinpoint precisely when this digital transformation took place, but it had its tipping point in Y2K when
President's Message                         organizations rebuilt technology architectures and prepared for a meltdown that failed to materialize.

Legislative & Regulatory
                                                                 One of the more valuable data tools is a process called Customer Relationship Management
CU News                                                          (CRM), which is a sales and service culture enabled by technology. The operative phrase is
Community Involvement                                            enabled by technology, as CRM is not a technology solution but a cultural and a people
                                                                 transformation; it is in its true essence a state of mind—held by management and staff—that puts
Events
                                                                 the member first in all interactions.
Business Solutions
People                                      CRM Strategies is a white paper sponsored by CUNA’s Operations, Sales and Service Council that examines
Calendar                                    the elements to be considered in developing a CRM strategy. Credit unions that have achieved a high degree of
                                            competence in this process are profiled as well. The benefit for the teller and other end users is when all of a
Careers                                     member’s relationships with the organization are displayed on one screen or perhaps one or two clicks away.
CONTENTS
                                            The preparation for Y2K underscored the notion that financial institutions have more information on their
President's Message                         customers than any other industry. This data wealth is a tremendous advantage for those organizations that use
Fed issues plan to extend                   and analyze information wisely. Those institutions—typically large credit unions and banks—that use data wisely
TILA, Consumer Leasing                      often succeed in besting their competitors and will likely continue to do so in the near future.
Act
Agencies issue guidelines                   Even though financial institutions have all of this data within their organizations—often at their fingertips—most
on real estate appraisals/                  are not using it efficiently. Marketing decisions made are based on looking backwards in time to past behaviors
evaluations                                 and placing consumers into demographic groups or subgroups. Demographic data has its place and worth, but it
                                            doesn’t provide insight into the frequency of use by the customer of their channel and product preferences, and
CUNA communicates
                                            it does not use these or other variables to ascribe value to its consumers.
interchange misgivings to
Fed
                                            To the member, the CRM process is invisible and seamless, but the effect can be profound. Members need only
SAFE Act registration to
                                            tell their story once, instead of each time a new call is made while appropriate products and services may be
begin in late January,
                                            suggested. Irritating telephone sales calls made during dinner may soon be—and should be—a relic of the past.
NCUA says
                                            This is part of an evolution that the financial services industry is undergoing where a marriage of data, financial
Credit union director fin-lit               relationships, and predictive analytics are making assumptions of potential buyers and their future behaviors.
rules kick in this month:
NCUA
                                            The paper is available online in the white paper section of www.cunacouncils.org – select the “OpSS” tab.
2011 IRS mileage rate                       [PRINTER FRIENDLY VERSION]
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001974200.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:27:00 PM]
CUNA Operations Council releases CRM Strategies white paper


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Online conversation




Wednesday, December 22, 2010                                                                   January 2011                                      VOLUME 4 ISSUE 1

HOME                                        Online conversation
                                            Members United Bridge Corporate Federal Credit Union’s Answer Board encourages two-way communication
TOPICS
                                            To make certain members receive the most accurate information, Members United Bridge Corporate Federal
President's Message
                                            Credit Union has created the online Answer Board (www.membersunited.org/AnswerBoard).
Legislative & Regulatory
CU News                                     The Answer Board is a forum that facilitates open communication between members and Members United.
Community Involvement                       Members may ask questions about Members United’s Forward Together business plan and related efforts for
                                            the future (remaining anonymous if they wish). Answers are posted for all to see.
Events
Business Solutions
People
Calendar
Careers                                     “We want to ensure that our members seek us out as a primary source of information, especially as they review
                                            our Forward Together business plan,” said Kevin Brauer, senior vice president, member relations, Members
CONTENTS                                    United. “The Answer Board promotes a constructive dialog between the corporate and our members, so the
                                            most challenging questions regarding our plan are publicly addressed.”
President's Message
Fed issues plan to extend                   The Answer Board’s structure for open discussion has proven to be a success. Members United reports that
TILA, Consumer Leasing                      questions are coming in virtually each day as member credit unions provide their input and navigate this period
Act                                         of transition.
Agencies issue guidelines
on real estate appraisals/                  Examples of questions that have already been answered on the Answer Board include:
evaluations
CUNA communicates                                  ●   Will we be required to contribute capital while the new corporate is a “bridge” corporate or not until the
interchange misgivings to                              “new” corporate emerges? How long will it be a bridge corporate?
Fed                                                ●   Can we lose money again?
SAFE Act registration to                           ●   Will we need to pay penalties if we decide not to capitalize the new corporate?
begin in late January,                             ●   How does the capital plan compare with other corporates?
NCUA says                                          ●   Will I have access to liquidity?
Credit union director fin-lit
rules kick in this month:                   To see full postings or to ask your own question, please visit the Answer Board at membersunited.org/
NCUA                                        AnswerBoard. To read the Forward Together business plan in its entirety, please visit Members United Bridge
2011 IRS mileage rate                       Corporate Federal Credit Union online at www.membersunited.org.
sees slight increase                        [PRINTER FRIENDLY VERSION]

NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001974205.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:27:03 PM]
Online conversation


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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People’s Credit Union announces appointment of new Information Technology Manager




Wednesday, December 22, 2010                                                                   January 2011                                         VOLUME 4 ISSUE 1

HOME                                        People’s Credit Union announces appointment of new Information Technology
TOPICS
                                            Manager
                                            Amy Martel, EVP & chief operating officer of People’s Credit Union, is pleased to announce the appointment of
President's Message                         Christopher J. Eden to Information Technology Manager. In this position, Eden will oversee all aspects of the
                                            credit union’s information technology management including the development and recommendation of
Legislative & Regulatory
                                            objectives, policies, procedures, and technology related projects and initiatives.
CU News
Community Involvement                                                      “Chris will bring a wealth of experience, management skills and operational savvy to the
Events                                                                     credit union’s IT department. We are positive he will thrive in his new position,” commented
                                                                           Martel.
Business Solutions
People                                                         Eden has been with People’s Credit Union since March 2003. He started as the Assistant
Calendar                                                       Manager of Deposit Operations; he was promoted to Call Center Manager and then to
Careers
                                                               Branch Manager where in a three-year time span he managed People’s North Kingstown,
                                                               Portsmouth, and Wakefield branches. He then went on to become Manager of Alternate
CONTENTS                                    Delivery Channels and then was promoted to his most recent position of Branch Operations
                                            Manager. Eden received his B.S. in Business Administration from the University of Rhode Island. He resides in
President's Message                         Warwick.
Fed issues plan to extend
TILA, Consumer Leasing                      “I am happy to take the skills I have acquired from my previous positions within the credit union and apply it to
Act                                         this new position. I’m excited for this next step in my career,” stated Eden.
Agencies issue guidelines                   [PRINTER FRIENDLY VERSION]
on real estate appraisals/
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




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People’s Credit Union announces appointment of new Information Technology Manager


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Holiday




Wednesday, December 22, 2010                                                                   January 2011                            VOLUME 4 ISSUE 1

HOME                                        Holiday
                                            The Association office will be closed Monday, January 17 in honor of Martin Luther King Day.
TOPICS                                      The Association's regular office hours are Monday through Friday 8:00 a.m. to 5:00 p.m.
                                            [PRINTER FRIENDLY VERSION]
President's Message
Legislative & Regulatory
CU News
Community Involvement
Events
Business Solutions
People
Calendar
Careers

CONTENTS
President's Message
Fed issues plan to extend
TILA, Consumer Leasing
Act
Agencies issue guidelines
on real estate appraisals/
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001974210.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:27:08 PM]
Holiday


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Association Calendar




Wednesday, December 22, 2010                                                                   January 2011          VOLUME 4 ISSUE 1

HOME                                        Association Calendar
                                            For a listing of upcoming Association programs and events, click here.
TOPICS                                      [PRINTER FRIENDLY VERSION]
President's Message
Legislative & Regulatory
CU News
Community Involvement
Events
Business Solutions
People
Calendar
Careers

CONTENTS
President's Message
Fed issues plan to extend
TILA, Consumer Leasing
Act
Agencies issue guidelines
on real estate appraisals/
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




http://www.enewsbuilder.net/necusri/e_article001974211.cfm?x=b11,0,w (1 of 3) [7/14/2011 3:27:10 PM]
Association Calendar


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Job Postings




Wednesday, December 22, 2010                                                                   January 2011                               VOLUME 4 ISSUE 1

HOME                                        Job Postings
                                            For a complete list of current job postings, click here.
TOPICS
President's Message                         If you would like to have your job listed on the Association’s website, please submit to jobs@cucenter.org.
Legislative & Regulatory                    [PRINTER FRIENDLY VERSION]

CU News
Community Involvement
Events
Business Solutions
People
Calendar
Careers

CONTENTS
President's Message
Fed issues plan to extend
TILA, Consumer Leasing
Act
Agencies issue guidelines
on real estate appraisals/
evaluations
CUNA communicates
interchange misgivings to
Fed
SAFE Act registration to
begin in late January,
NCUA says
Credit union director fin-lit
rules kick in this month:
NCUA
2011 IRS mileage rate
sees slight increase
NCUA Baord addresses
low-income members,
credit unions at December
16 meeting
Prepaid debit cards could
also see new regs




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Job Postings


Credit Union
Governmental Affairs Day
– Save the Date
CUNA HR/TD Council
announces award program
Treasury finalizes Go
Direct deadline
Auto loan delinquencies
and repossessions down
Fed: 75% of noncash
payments are made
electronically
Westerly Community
Credit Union’s ‘Mystery
Envelope- Can Good Drive’
brings in over 1200 items
for local food pantries
People’s Credit Union
donates gift cards to
domestic violence centers
The Great New England
Credit Union Show is
coming!
NECUS, Invest in America,
present 2010 Sprint
incentives to credit union
partners
CO-OP My Deposit Mobile
enables credit union
members to “snap and
deposit” checks using
mobile phones
CUNA Operations Council
releases CRM Strategies
white paper
Online conversation
People’s Credit Union
announces appointment of
new Information
Technology Manager
Holiday
Association Calendar
Job Postings

ARCHIVE
June 2011
May 31, 2011
Vol. 4 Issue 6
May 2011
May 9, 2011
Vol. 4 Issue 5
April 2011
March 31, 2011
Vol. 4 Issue 4
March 2011
February 27, 2011
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2

Published by Credit Union Association of Rhode Island                                                  TELL A FRIEND



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Tuesday, May 31, 2011                                                                          June 2011                                       VOLUME 4 ISSUE 6

TOPICS                                               President's Message
President's Message                                   President's Message
Legislative & Regulatory                              by Daniel F. Egan, Jr.
CU News
                                                      This year is the 40th anniversary of the founding of the World Council of Credit Unions. The impact this
Community Involvement                                 organization has had on the lives of millions of people in developing countries across the world is further
Business Solutions                                    evidence of the benefits of a cooperative, non-profit, democratically controlled financial institution known
                                                      as a credit union. In many ways, the development of credit unions in third world countries is a repeat of
People
                                                      the growth and success of the credit union movement in this country.
Calendar                                              [FULL STORY]
Careers

CONTENTS                                             Legislative & Regulatory

President's Message                                   Bernanke states that there is “good reason” for interchange concerns
Bernanke states that there is                         Federal Reserve Chairman Ben Bernanke recently reiterated that he is not sure that the small institution
“good reason” for interchange                         exemption in pending interchange fee cap regulations would work as planned, adding that there "is good
concerns                                              reason to be concerned" about its effectiveness.
                                                      [FULL STORY]
Interchange income pays for card
security
2010 NCUSIF audit ‘clean,’
                                                      Interchange income pays for card security
Operating Fund has ‘deficiencies’                     In the aftermath of Michaels stores’ recent consumer data breach, the Credit Union National Association
                                                      (CUNA) again reminded legislators that it is interchange fees that allow credit unions to cover the costs
NCUA may lift prepayment plan
                                                      of dealing with these sorts of mercantile mistakes. A letter sent to Senators Jon Tester (D-Mont.) and
contribution cap
                                                      Bob Corker (R-Tenn.), the two original cosponsors of Senate legislation that would delay interchange fee
SBA suggests 7(a) compliance                          cap implementation by two years. The Fed interchange fee cap regulations would become law on July
changes                                               21, absent a delay. While a final version of the interchange cap regulations has not yet been issued, it is
Credit Union Association of Rhode                     expected to be released before July 21.
Island holds 77th Annual Meeting                      [FULL STORY]

NCUA finds direct debit costs
higher for small credit unions                        2010 NCUSIF audit ‘clean,’ Operating Fund has ‘deficiencies’
National Social Responsibility                        The National Credit Union Administration (NCUA) announced that its 2010 audited financial reports for
Recognition Award Programs                            its four permanent funds, including the National Credit Union Share Insurance Fund (NCUSIF), received
demonstrate “Credit Union                             unqualified or "clean" audit opinions. Noting the NCUSIF's unqualified opinion for its financial condition
Difference”                                           specifically, NCUA Board Chairman Debbie Matz said, "The fact that independent, outside auditors
People’s Credit Union presents 8th
                                                      issued an unqualified opinion with no reportable conditions is a testament to NCUA's diligent oversight
grade scholarship winners for
                                                      and protection of the share insurance fund for credit unions nationwide."
                                                      [FULL STORY]
2011
Credit Unions can link to Invest in
America GM microsite
CO-OP Financial Services
introduces CO-OP Mobile Text for
entry-level mobile banking
services



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CO-OP Financial Services                              NCUA may lift prepayment plan contribution cap
introduces CO-OP ATM Visual                           While the National Credit Union Administration (NCUA) has said that the maximum corporate
Control
                                                      stabilization assessment prepayment a credit union may make would be 36 basis points (bp), the agency
Balance Sheet Solutions holding                       said that it would consider lifting that cap if enough credit unions request that it be raised.
fourth academy                                        [FULL STORY]
Westerly Community Credit Union
promotes four                                         SBA suggests 7(a) compliance changes
Holiday                                               The U.S. Small Business Administration (SBA) has identified the adoption of a single electronic
Association Calendar                                  application for all SBA 7(a) guaranteed loans as one of several ways it could reduce compliance
                                                      burdens. This 7(a) streamlining would, according to the SBA, "reduce the paperwork burden on lenders"
Share your stories in Horizons                        and increase the participation of credit unions and other lenders in the 7(a) program. It would also
Job Postings                                          improve the timeliness of loan approval deliveries, the SBA added.
                                                      [FULL STORY]
ARCHIVE
May 2011                                             Credit Union News
May 9, 2011
Vol. 4 Issue 5                                        Credit Union Association of Rhode Island holds 77th Annual Meeting
April 2011                                            Association honors Director Joan Saunders’ 40 years of service
March 31, 2011
Vol. 4 Issue 4
                                                        More than 100 credit union representatives from Rhode Island gathered for
March 2011                                            the Credit Union Association of Rhode Island’s (Association) 77th Annual
February 27, 2011                                     Meeting and Get Together Dinner on Wednesday, May 11, at Metacomet
Vol. 4 Issue 3
                                                      Country Club in East Providence. Attendees heard reports from numerous
February 2011                                         Association committees as well as Chairman Stephen White and President
January 24, 2011                                      Daniel F. Egan, Jr. They also heard from special guest speakers including;
Vol. 4 Issue 2                                        Ian Shephard, Global Ambassador, Special Olympics Rhode Island, and his
January 2011                                          Dad Michael; Marcia Sarrazin, associate regional director of programs,
December 22, 2010                                     National Credit Union Administration; and Lori Valentini, sales executive,
Vol. 4 Issue 1                                        CUNA Mutual Group.
December 2010                                         [FULL STORY]
November 29, 2010
Vol. 3 Issue 11
November 2010
                                                      NCUA finds direct debit costs higher for small credit unions
September 27, 2010                                    The National Credit Union Administration (NCUA) recently released results of a survey of 296 credit
Vol. 3 Issue 10                                       unions that has provided additional information about some of the costs and income produced by debit
October 2010                                          card transactions for credit unions of different sizes. NCUA analysis found that the direct costs of
September 23, 2010                                    providing debit card services are "progressively higher for smaller credit unions."
Vol. 3 Issue 9                                        [FULL STORY]
September 2010
August 5, 2010                                        National Social Responsibility Recognition Award Programs demonstrate “Credit Union
Vol. 3 Issue 8
                                                      Difference”
Summer 2010
                                                                                          As in past years, the National Recognition Awards
July 27, 2010
Vol. 3 Issue 7                                                                            Program has a special significance. As we move
                                                                                          into a new era, one where the credit union industry
June 2010
                                                                                          will be a major player in the political arena, it is more
May 25, 2010
Vol. 3 Issue 6                                                                            important than ever to recognize that credit unions
                                                                                          are unique providers of life-line financial services for
                                                                                          millions of working Americans.
                                                      [FULL STORY]



                                                     Community Involvement

                                                      People’s Credit Union presents 8th grade scholarship winners for 2011
                                                      People’s Credit Union has announced the winners of the 8th grade scholarship for 2011. The
                                                      scholarships were awarded to one student in each town that People’s has a branch location.
                                                      [FULL STORY]



                                                     Business Solutions




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                                                      Credit Unions can link to Invest in America GM microsite
                                                       Thanks to the support of GM, credit unions now have the ability to
                                                      add links to their loan offerings on the Invest in America GM
                                                      microsite. When members search for an authorization number for
                                                      GM Preferred Pricing, they can find their credit union’s name on a
                                                      drop-down menu that then links them to the credit union’s page of
                                                      choice—whether it’s a page on loan information or an online
                                                      application.
                                                      [FULL STORY]


                                                      CO-OP Financial Services introduces CO-OP Mobile Text for entry-level mobile banking
                                                      services
                                                      Text banking offered at $0.12 per transaction, with no additional account verification fee

                                                        CO-OP Financial Services is introducing CO-OP Mobile Text, offering text banking as a
                                                      standalone service for $0.12 per transaction, with no additional account verification fee,
                                                      enabling credit unions to offer mobile banking fast and affordably.
                                                      [FULL STORY]




                                                      CO-OP Financial Services introduces CO-OP ATM Visual Control
                                                      Provides multi-vendor device support with one web-based application

                                                      CO-OP Financial Services is introducing CO-OP ATM Visual Control, powered by TEKchand, enabling
                                                      credit unions to remotely control the marketing and operational content of its ATM fleet.
                                                      [FULL STORY]


                                                      Balance Sheet Solutions holding fourth academy
                                                       Balance Sheet Solutions announced the fourth session of their
                                                      popular educational program, Balance Sheet Symmetry
                                                      Academy. This two-day, intermediate/advanced session, to be
                                                      held at the Stanford Federal Credit Union in Palo Alto,
                                                      California, is geared for the credit union CFO, CEO, and CIO, as well as others with investment and
                                                      asset-liability management responsibilities.
                                                      [FULL STORY]



                                                     Credit Union People

                                                      Westerly Community Credit Union promotes four
                                                      Westerly Community Credit Union (WCCU) promotes DePerry, Gencarelli, Loughlean, and Meneo.
                                                      [FULL STORY]



                                                     Calendar

                                                      Holiday
                                                           The Association office will be closed Monday, July 4, in observance of
                                                      Independence Day. The Association’s regular office hours are Monday
                                                      through Friday 8:00 a.m. to 5:00 p.m.




                                                      Association Calendar
                                                      For a listing of upcoming Association programs and events, click here.




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Horizons


                                                      Share your stories in Horizons
                                                      Deadlines for upcoming issues

                                                      The Association staff wishes to take this opportunity to thank those
                                                      members who have provided stories of interest to the readers of
                                                      Horizons. We encourage them to continue and urge others to also
                                                      share their news and success stories with their fellow credit union
                                                      professionals.
                                                      [FULL STORY]



                                                     Careers

                                                      Job Postings
                                                      For a complete list of current job postings, click here.

                                                      If you would like to have your job listed on the Association’s website, please submit to jobs@cucenter.
                                                      org.


Published by Credit Union Association of Rhode Island                                                                                           TELL A FRIEND

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Monday, May 9, 2011                                                                             May 2011                                         VOLUME 4 ISSUE 5

TOPICS                                               President's Message
President's Message                                   President’s Message
Legislative & Regulatory                              By Danuel F. Egan, Jr.
CU News
                                                      Budget battles on the federal and state level dominated local news coverage for the past several months.
Community Involvement                                 With the federal debt ceiling due to be reached in May, the political rhetoric will soon rise to a fever pitch.
Business Solutions                                    The outcome of those budget debates will impact many people and institutions in this country. As a
                                                      consequence of these debates, little else is happening either in Congress or the state legislature on
Calendar
                                                      other pieces of legislation.
Careers                                               [FULL STORY]

CONTENTS
                                                     Legislative & Regulatory
President’s Message
House MBL cap lift bill introduced                    House MBL cap lift bill introduced
President signs 1099 extension                        Legislation that would lift the credit union member business lending (MBL) cap to 27.5% of total assets
repeal                                                was introduced in the House on April 7. The bill is known as the Small Business Lending Enhancement
                                                      Act. The bill is similar to Senate legislation offered by Senators Mark Udall (D-CO) and Olympia Snowe
Reminder – Form 990 and Form
                                                      (R-ME).
990-T deadline approaching                            [FULL STORY]
A look at NECUS Compliance
Specialist Program
                                                      President signs 1099 extension repeal
Robert P. Andrade named Bell
                                                      On April 14, President Barack Obama signed into law legislation that repeals an extension of Internal
Award recipient
                                                      Revenue Service (IRS) Form 1099 reporting requirements that was approved last year.
NCUSIF losses remain below                            [FULL STORY]
estimates
Matz addresses FFIEC                                  Reminder – Form 990 and Form 990-T deadline approaching
Cottrell Federal Credit Union is                      Your credit union may be eligible for an Internal Revenue Service (IRS) credit. Certain eligible credit
now Cottrell office of Wave                           unions may be entitled to file for a tax credit with the IRS. Included in the Affordable Health Care Act,
Federal Credit Union                                  enacted in March 2010, the small business health care tax credit is designed to encourage small
National Credit Union Foundation                      businesses and small tax-exempt organizations (including credit unions) to offer health insurance
opens Wegner Award Nominations                        coverage to their employees or maintain coverage they already have.
                                                      [FULL STORY]
Pawtucket Credit Union hosts 8th
Annual Real World Day for
students                                             Credit Union News
Navigant Credit Union sponsors
Central Falls High School
Students’ “Kids in the Canyon”
adventure
People’s Credit Union employees
raise over $1,800 for Pennies for
Patients




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FSCC cuts prices on shared mobile
                                                      A look at NECUS Compliance Specialist Program
banking
                                                        Compliance solutions. Credit union managers are looking for ways to tackle the
700Credit, LLC announces                              growing compliance burden that will fit within their budget constraints. However,
strategic partnership with CUDL                       many credit union employees already wear a number of hats, and just do not
CO-OP Financial Services                              have the time to keep up with regulatory changes, staff training, and all of the
announces patronage of $20.2                          other obligations that go along with being the “compliance person” at the credit
million to shareholder members                        union. Nevertheless, they still want the peace of mind that comes from knowing
for 2010                                              their credit union is “in compliance” One solution that is gaining in popularity is
Holiday                                               the Compliance Specialist Program offered through New England Credit Union
                                                      Services, LLC (NECUS).
Association Calendar                                  [FULL STORY]
Job Postings

ARCHIVE                                               Robert P. Andrade named Bell Award recipient
                                                           The Mental Health Association of Rhode Island announced Robert P. Andrade,
April 2011                                            executive vice president and chief operating officer of Pawtucket Credit Union, as
March 31, 2011                                        the recipient of this year’s Annual Bell Award. Andrade will be recognized at a
Vol. 4 Issue 4
                                                      special event to be held on Thursday, May 12, 2011, at Patrick's Pier One in
March 2011                                            Providence.
February 27, 2011                                     [FULL STORY]
Vol. 4 Issue 3
February 2011
January 24, 2011
Vol. 4 Issue 2
January 2011
December 22, 2010
Vol. 4 Issue 1                                        NCUSIF losses remain below estimates
December 2010
                                                      The National Credit Union Administration (NCUA) did not report writing off any National Credit Union
November 29, 2010
                                                      Share Insurance Fund (NCUSIF) assets as insurance loss expense for the second time in as many
Vol. 3 Issue 11                                       months. The agency had originally budgeted $54.2 million in funds to cover expected insurance loss
November 2010
                                                      expenses for the month of March but those projected losses did not materialize.
                                                      [FULL STORY]
September 27, 2010
Vol. 3 Issue 10
October 2010                                          Matz addresses FFIEC
September 23, 2010                                    National Credit Union Administration (NCUA) Chairman Debbie Matz said she will work to restore "the
Vol. 3 Issue 9
                                                      responsibility and accountability in our financial system" during her term as leader of the Federal
September 2010                                        Financial Institutions Examination Council (FFIEC).
August 5, 2010                                        [FULL STORY]
Vol. 3 Issue 8
Summer 2010
July 27, 2010                                         Cottrell Federal Credit Union is now Cottrell office of Wave Federal Credit Union
Vol. 3 Issue 7                                        It’s official. The conversion has been completed, new signs are up and Cottrell
June 2010                                             Federal Credit Union is now the Cottrell office of Wave Federal Credit Union.
May 25, 2010
Vol. 3 Issue 6                                        (Right) Wave’s Cottrell Office Manager Mildred Stolgitis (left) and Assistant
                                                      Manager Heather Carter stand in front of the new signage.




                                                      National Credit Union Foundation opens Wegner Award Nominations
                                                      Awards to be held in conjunction with 2012 CUNA GAC

                                                       Credit union supporters are encouraged to nominate individuals and organizations for
                                                      the 24th Annual Herb Wegner Memorial Awards to be presented by the National
                                                      Credit Union Foundation (NCUF). Winners will be honored at the awards dinner on
                                                      March 19, 2012, in conjunction with the Credit Union National Association (CUNA)
                                                      Governmental Affairs Conference (GAC) in Washington, D.C.
                                                      [FULL STORY]




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                                                     Community Involvement

                                                      Pawtucket Credit Union hosts 8th Annual Real World Day for students
                                                      Over 500 area students recently participated in Pawtucket Credit Union’s financial literacy program that
                                                      culminates in Real World Day – a simulation where students apply lessons learned to real world
                                                      situations. The program helps students identify their money management goals, develop a budget,
                                                      understand the cost of using credit, and learn about general banking products like checking, savings,
                                                      and CDs.
                                                      [FULL STORY]


                                                      Navigant Credit Union sponsors Central Falls High School Students’ “Kids in the Canyon”
                                                      adventure
                                                             Navigant Credit Union donated $2,500 to sponsor the April trip to the
                                                      Grand Canyon in Arizona for 15 Central Falls High School students and
                                                      their mentors. The trip was part of the “Kids in the Canyon” program.
                                                      [FULL STORY]




                                                      People’s Credit Union employees raise over $1,800 for Pennies for Patients
                                                            People’s Credit Union employees raised over $1,800 for Pennies for
                                                      Patients throughout the month of March. Pennies for Patients collects
                                                      donations of spare change to benefit the Leukemia & Lymphoma Society.
                                                      The Leukemia & Lymphoma Society is the world’s largest voluntary health
                                                      agency dedicated to blood cancer.
                                                      [FULL STORY]



                                                     Business Solutions

                                                      FSCC cuts prices on shared mobile banking
                                                            Shared-branching network Financial Service Centers Cooperative Inc.
                                                      (FSCC) reduced the price of MyCUAnywhere text banking transaction
                                                      pricing beginning May 2.
                                                      [FULL STORY]




                                                      700Credit, LLC announces strategic partnership with CUDL
                                                      700Credit and CUDL have partnered to offer web-based credit reporting to dealers through the CUDL
                                                      system

                                                      700Credit, LLC, the industry’s leading solution for credit reporting and
                                                      compliance products and services has announced that it has entered
                                                      into a strategic partnership with CUDL (www.cudl.com), the nation’s
                                                      leading indirect and point-of-purchase, auto lending solutions
                                                      provider to the credit union industry. Through the new alliance,
                                                      700Credit will offer web-based credit reports, as well as numerous
                                                      compliance and consumer information products, to automotive dealers via the CUDL system.
                                                      [FULL STORY]


                                                      CO-OP Financial Services announces patronage of $20.2 million to shareholder members
                                                      for 2010
                                                      Annual dividend brings total distribution to $212.1 million since 1996

                                                      CO-OP Financial Services announced a patronage (shareholder dividend) pool of $20.2
                                                      million for fiscal year 2010, bringing its total patronage distribution to shareholders to
                                                      $212.1 million since becoming a cooperative in 1996.
                                                      [FULL STORY]




                                                     Calendar


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  Horizons



                                                        Holiday
                                                        The Association office will be closed Monday, May 30, in observance of Memorial Day.
                                                        The Association’s regular office hours are Monday through Friday 8:00 a.m. to 5:00 p.
                                                        m.




                                                        Association Calendar
                                                        For a listing of upcoming Association programs and events, click here.


                                                       Careers

                                                        Job Postings
                                                        For a complete list of current job postings, click here.

                                                        If you would like to have your job listed on the Association’s website, please submit to jobs@cucenter.
                                                        org.


 Published by Credit Union Association of Rhode Island                                                                                            TELL A FRIEND

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Thursday, March 31, 2011                                                                       April 2011                                         VOLUME 4 ISSUE 4

TOPICS                                               President's Message
President's Message                                   President’s Message
Special Features                                      Currently, we are engaged in what will be a lengthy legislative struggle to maintain the viability of a non-
                                                      profit, cooperative financial institution model in this country. At this time, the framework for this struggle is
Legislative & Regulatory
                                                      centered on interchange legislation and member business lending on the federal level. For years we
CU News                                               have been building a grassroots and political action structure to enable us to engage in this type of
Community Involvement                                 struggle and be victorious. The next two years will test our political capabilities and dictate the future of
                                                      credit unions.
Events
                                                      [FULL STORY]
Business Solutions
People
                                                     Special Features
Calendar
Careers
                                                      Register NOW for the Great New England Credit Union Show
                                                                Don’t miss the 2011 Great New England Credit Union Show, the
CONTENTS                                              networking event of the season! Exhibitors and sponsors alike are
                                                      teaming up for a day full of important insights and high energy. Now in
President’s Message
                                                      its third year, the show offers attendees access to leading exhibitors, top
Register NOW for the Great New                        quality education, and timely industry updates, with featured speakers
England Credit Union Show                             Congressman Barney Frank and New England Patriots’ own Steve
Senate, House bills would delay                       Grogan.
Fed interchange plan                                  [FULL STORY]

Congressman Frank wants to
revisit interchange                                  Legislative & Regulatory
CUNA calls for credit score
comments                                              Senate, House bills would delay Fed interchange plan
                                                      Senate bill (S. 575), introduced by Senator Jon Tester (R-MT), would establish a two-year delay for the
CUNA seeks Treasury backing for
                                                      Federal Reserve's (Fed) proposal to implement the Dodd-Frank interchange provisions, which limit debit
interchange delay, MBL,
supplemental capital
                                                      card interchange fees. It would require the Fed, the National Credit Union Administration, the Federal
                                                      Deposit Insurance Corp., and the Office of the Comptroller of the Currency to submit a study on the
2011 Credit Union Championships                       impact of any proposed interchange rule changes to the Senate Banking Committee and the House
a “winner” for credit unions of                       Financial Services Committee. The study would address the impact of the rules on credit unions and
Rhode Island                                          other debit card issuers, merchants, and consumers.
CUNA, Association join to deliver                     [FULL STORY]
Creating Member Loyalty™
service and sales training
                                                      Congressman Frank wants to revisit interchange
NCUA launches MyCreditUnion.                          Representative Barney Frank of Massachusetts, the ranking minority member of the House Financial
gov
                                                      Services Committee as well as a key author for the Dodd-Frank Wall Street Reform Act, recently
NCUA reports credit union key                         announced that he would support legislative action to postpone the deadline for the Federal Reserve
ratios improved in 2010                               (Fed) to issue a rule on debit card interchange fees.
                                                      [FULL STORY]
Small business group reiterates
MBL support




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Westerly Community Credit Union                       CUNA calls for credit score comments
celebrates National Credit Union                      Credit unions are encouraged to comment on a joint agency proposal to require creditors that use a
Youth Week
                                                      consumer's credit score in risk-based pricing to disclose that score and other related information to that
People’s Credit Union receives                        consumer.
Bauer’s 5-Star rating                                 [FULL STORY]
Wave Federal Credit Union and
Cottrell Federal Credit Union                         CUNA seeks Treasury backing for interchange delay, MBL, supplemental capital
announce merger
                                                      As part of its ongoing effort to pursue relief for credit unions, the Credit Union National Association
Rhode Island credit unions bowl a                     (CUNA) encouraged the U.S. Treasury Department to support a delay in the debit fee interchange
strike for Special Olympics                           statute's implementation.
Westerly Community Credit Union                       [FULL STORY]
offers scholarships to area schools
People’s Credit Union Paul named                     Credit Union News
chair of Newport Light the Night
Walk                                                  2011 Credit Union Championships a “winner” for credit unions of Rhode Island
Save the date. . .                                         For the twenty-first consecutive year, Rhode Island Credit Unions and the
                                                      Credit Union Association of Rhode Island were joint sponsors of the annual
CUDL unveils new “Sell Your Ride”
                                                      Credit Union Championships. The finals for both girls and boys basketball
member service for the
                                                      were held at The Ryan Center at the University of Rhode Island on Friday and
AutoSMART program
                                                      Saturday, March 11 and 12, 2011. Game attendance on Friday night was
CO-OP Member Center introduces                        1,870 and Saturday’s combined total was over 3,400.
remote underwriting support                           [FULL STORY]
CUNA releases white paper on
branch manager’s changing role
Help members save big with
Sprint
Eight masters of business
development to speak at THINK
                                                      CUNA, Association join to deliver Creating Member Loyalty™ service and sales training
11 Conference in May
                                                        Outstanding member service. Increase in products
Navigant Credit Union announces                       per household. Growth in credit union membership.
additions, leadership changes to                      These results are seldom achieved by simply just
Board of Directors                                    setting the goal – they require a well-trained staff,
Pawtucket Credit Union                                one able to handle problems and errors with
announces promotions                                  diplomacy and discuss products and services in a
Holiday                                               way that’s relevant to the member. Knowledge of
                                                      policies and products and being well-versed in product and services features are just the beginning.
Association Calendar                                  Having a front-line with the ability to advance the credit union relationship with the member while
Job Postings                                          handling typically routine tasks is the next level of employee performance.
                                                      [FULL STORY]
ARCHIVE
March 2011                                            NCUA launches MyCreditUnion.gov
February 27, 2011                                     The National Credit Union Administration (NCUA) launched MyCreditUnion.gov, a new website that will
Vol. 4 Issue 3
                                                      offer "a one-stop toolbox of educational information and personal finance tips designed to help
February 2011                                         individuals in making smart financial decisions and better choices for their money."
January 24, 2011                                      [FULL STORY]
Vol. 4 Issue 2
January 2011
December 22, 2010                                     NCUA reports credit union key ratios improved in 2010
Vol. 4 Issue 1                                        Nationwide, credit union membership inched up during 2010, totaling 90.5 million by the end of the year,
December 2010                                         and credit union investment, earnings and assets also grew last year, the National Credit Union
November 29, 2010                                     Administration (NCUA) recently reported.
Vol. 3 Issue 11                                       [FULL STORY]
November 2010
September 27, 2010                                    Small business group reiterates MBL support
Vol. 3 Issue 10
                                                      Saying it is "confident that the nation's credit unions stand ready to extend critical capital to America's
October 2010
                                                      small-business owners," the National Small Business Association (NSBA) again backed legislation that
September 23, 2010
Vol. 3 Issue 9
                                                      would lift the cap on credit union member business lending (MBL).
                                                      [FULL STORY]
September 2010
August 5, 2010
Vol. 3 Issue 8
Summer 2010
July 27, 2010
Vol. 3 Issue 7


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June 2010                                             Westerly Community Credit Union celebrates National Credit Union Youth Week
May 25, 2010                                                 The Westerly Community Credit Union will be celebrating with credit unions
Vol. 3 Issue 6
                                                      throughout the country, National Credit Union Youth Week at all of their branches
                                                      April 18th – April 23rd. This celebration supports the Westerly Community Credit
                                                      Union’s ongoing efforts of promoting financial literacy to our youth.
                                                      [FULL STORY]




                                                      People’s Credit Union receives Bauer’s 5-Star rating
                                                      People’s Credit Union is proud to be recognized as a 5-Star Superior Credit Union by BauerFinancial,
                                                      Inc., Coral Gables, Florida, the nation’s bank and credit union rating firm. Earning this highest 5-Star
                                                      rating for strength and stability, President Ellen N. Ford and the entire team at People’s Credit Union are
                                                      proving their commitment to their members.
                                                      [FULL STORY]


                                                      Wave Federal Credit Union and Cottrell Federal Credit Union announce merger
                                                           The Board of Directors of Wave Federal Credit Union and Cottrell Federal
                                                      Credit Union’s Board and members have approved the merger of their two
                                                      institutions into one. Wave Federal Credit Union will become the continuing
                                                      credit union. Members of both organizations will be served from existing
                                                      offices and all Cottrell employees will be retained. The combined institution
                                                      will have assets in excess of $110 million and serve over 8,300 members
                                                      through three locations in Warwick, one in Pawtucket and Cottrell’s location
                                                      at 87A Main Street, Westerly, RI. Paul Archambault, Wave’s President and
                                                      CEO will serve as President/CEO of the merged credit unions. The merger is
                                                      anticipated to occur by April 30, 2011.
                                                      [FULL STORY]



                                                     Community Involvement

                                                      Rhode Island credit unions bowl a strike for Special Olympics
                                                         The Credit Union Association of Rhode Island’s annual “Strike for Gold”
                                                      fundraising event for Special Olympics Rhode Island, held at the East
                                                      Providence Lanes, was a striking success. Twenty-seven teams of
                                                      bowlers representing eleven credit unions and the Association came
                                                      together on Wednesday, March 23 for a “Bowling Tournament” that raised
                                                      more than $11,700 for Special Olympics Rhode Island.
                                                      [FULL STORY]


                                                      Westerly Community Credit Union offers scholarships to area schools
                                                      The Westerly Community Credit Union is sponsoring three scholarships for local area high schools:
                                                      Chariho, Exeter-West Greenwich, Narragansett, South Kingstown, Stonington and Westerly. Two
                                                      scholarships are for the amount of $2500 and one is for $500.
                                                      [FULL STORY]


                                                      People’s Credit Union Paul named chair of Newport Light the Night Walk
                                                      The Leukemia & Lymphoma Society recently named Arthur Paul, Jr, vice president of marketing for
                                                      People’s Credit Union; chair of the Newport Light the Night Walk. The Light the Night Walk is the fastest
                                                      growing cancer fundraising evening walk in the country, attracting more than 250,000 participants
                                                      annually. There are two walks in Rhode Island, Newport on September 24 and Garden City on October
                                                      1, 2011.
                                                      [FULL STORY]



                                                     Events




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                                                      Save the date. . .
                                                      Credit Union Association of Rhode Island 77th Annual Meeting/Get Together Dinner - May 11, 2011

                                                         Mark your calendar for Wednesday, May 11, 2011 and plan to attend the
                                                      Credit Union Association of Rhode Island’s 77th Annual Meeting and Get
                                                      Together Dinner at Metacomet Country Club in East Providence. Join your
                                                      peers for an evening of networking and socializing.
                                                      [FULL STORY]




                                                     Business Solutions

                                                      CUDL unveils new “Sell Your Ride” member service for the AutoSMART program
                                                      New service helps members sell their personal vehicles through their credit unions’ AutoSMART vehicle
                                                      research and shopping website.

                                                         CUDL (www.cudl.com), administrators of the nation’s largest auto
                                                      lending network for credit unions and the CUDL AutoSMART vehicle
                                                      shopping website (www.cudlautosmart.com), has unveiled its new Sell Your Ride Member Program for
                                                      credit union members.
                                                      [FULL STORY]


                                                      CO-OP Member Center introduces remote underwriting support
                                                      New CO-OP ExpressLink service helps credit unions capture every lending opportunity

                                                       With lending volume declining sharply in the ongoing recession, credit unions cannot let
                                                      any opportunities get away. To position credit unions to capture every loan opportunity,
                                                      CO-OP Member Center is now offering CO-OP ExpressLink, a cost-effective, efficient
                                                      service through which credit unions can use the call center to underwrite Indirect loan
                                                      applications after-hours and on weekends.
                                                      [FULL STORY]


                                                      CUNA releases white paper on branch manager’s changing role
                                                              A new white paper from the Credit Union National Association's (CUNA)
                                                      Community Credit Union Committee offers insights on the key forces that are
                                                      changing the role of the branch manager and how credit unions should react.

                                                      The paper, titled The Credit Union Branch Manager: A New Leader for a New
                                                      Era, outlines critical expectations for the next-generation branch manager and
                                                      the skill sets that must be developed to meet those expectations.
                                                      [FULL STORY]


                                                      Help members save big with Sprint
                                                         Give your members big savings on their wireless service and equipment through the
                                                      Sprint Credit Union Member Discount Plan. Thanks to an agreement between your
                                                      Association and CU Solutions Group, your credit union members can take advantage
                                                      of this exclusive discount.
                                                      [FULL STORY]


                                                      Eight masters of business development to speak at THINK 11 Conference in May
                                                      Registration is free to credit union employees at www.co-opthink.org

                                                          “Passion changes everything” is the subtitle to the latest best-seller from one of eight
                                                      featured speakers at the THINK 11 Conference. Conference organizer, CO-OP Financial
                                                      Services selected all eight to help credit union employees change everything for the
                                                      better at their institutions – from attracting new members and inspiring member loyalty to
                                                      improving profit margins and expanding their business.
                                                      [FULL STORY]



                                                     Credit Union People



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  Horizons



                                                        Navigant Credit Union announces additions, leadership changes to Board of Directors
                                                                  Navigant Credit Union announced the addition of two new
                                                        members to its Board of Directors and the promotions of three of
                                                        its existing board members.
                                                        [FULL STORY]




                                                                                                                                 Baziotis            Salome


                                                        Pawtucket Credit Union announces promotions
                                                          Karl A. Kozak, president & chief executive officer of Pawtucket
                                                        Credit Union, announced the promotions of Natalie Cabral and
                                                        Matthew D. D'Agenais.
                                                        [FULL STORY]




                                                                                                                                  Cabral            D'Agenais



                                                       Calendar

                                                        Holiday
                                                        The Association office will be closed Monday, April 18, in observance of Patriots Day. The Association’s
                                                        regular office hours are Monday through Friday 8:00 a.m. to 5:00 p.m.


                                                        Association Calendar
                                                        For a listing of upcoming Association programs and events, click here.


                                                       Careers

                                                        Job Postings
                                                        For a complete list of current job postings, click here.

                                                        If you would like to have your job listed on the Association’s website, please submit to jobs@cucenter.
                                                        org.


 Published by Credit Union Association of Rhode Island                                                                                            TELL A FRIEND

Created with eNewsBuilder




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Sunday, February 27, 2011                                                                     March 2011                                       VOLUME 4 ISSUE 3

TOPICS                                               President's Message
President's Message                                   President’s Message
Special Features                                      by Daniel F. Egan, Jr.
Legislative & Regulatory
                                                      As we struggle through the final weeks of a long, cold, and snowy winter, we search for rays of hope and
CU News                                               an early spring. We search for the same in our economic climate while waiting for signs of an end to the
Community Involvement                                 negative impact on earnings of potential National Credit Union Share Insurance Fund (NCUSIF)
                                                      assessments. On February 17, we had a ray of hope that relief may be on the way in 2011. Melinda
Events
                                                      Love, director of examination and insurance for the National Credit Union Administration (NCUA),
Business Solutions                                    indicated in an NCUA virtual town hall meeting that the 2011 assessment will be delayed until the fall.
People                                                This is in light of the fact that the insurance fund financials are looking better than originally projected
                                                      through the first month of the year.
Calendar                                              [FULL STORY]
Careers

CONTENTS                                             Special Features
President’s Message                                   Congressman Frank to address CEO Luncheon at Great New England Credit Union Show
Warren indicates CFPB will work                            Congressman Barney Frank (D-MA), Ranking Member of the House Financial
for reduced regulatory burden                         Services Committee, will be the Keynote speaker at the CEO Luncheon at the
Congressman Frank to address                          Great New England Credit Union Show on April 21. The show which is being co-
CEO Luncheon at Great New                             sponsored by the Credit Union Association of Rhode Island, the Massachusetts
England Credit Union Show                             and New Hampshire Credit Union Leagues, and The Warren Group will be held at
                                                      the Holiday Inn in Boxborough, Massachusetts.
Mortgage appraisal guidelines                         [FULL STORY]
effective April 1
NCUA clarifies guidance on third-
party investment sales                               Legislative & Regulatory
NCUA proposes enhanced                                Warren indicates CFPB will work for reduced regulatory burden
incentive-compensation rules
                                                            The Consumer Financial Protection Bureau (CFPB), once it is fully organized
FinCEN advisory warns of elder                        later this year, will work to reduce some regulatory burdens faced by credit unions
financial exploitation                                and other financial institutions and will review the impact of its own rules on credit
Egan wins Farley Award                                unions and other small financial service providers, CFPB architect Elizabeth
                                                      Warren said in a recent letter to Representative Randy Neugebauer (R-Texas).
Rhode Island’s Girls & Boys High
                                                      [FULL STORY]
School Basketball Championships
March 11 & 12!
People’s Credit Union hosts 2011
Strong Woman Series
Credit unions prepare to Strike for
Gold at 4th annual bowling
tournament
People’s Credit Union employees
make scarves for Special
Olympics



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All paths lead to Chatham for the                     Mortgage appraisal guidelines effective April 1
Spring Volunteer Development                          MemberClose and Association offer assistance
Conference
Save the date. . .                                    On December 10, 2010, the National Credit Union Administration (NCUA), along with the four other
                                                      federal financial regulatory agencies, issued their long-awaited revision to the Interagency Appraisal and
Strategic technology planning is
focus of new Tech Council white
                                                      Evaluation Guidelines. The revised guidelines became effective immediately with mandatory compliance
paper
                                                      to begin on April 1, 2011. One of the most important mandates is that automated valuation models
                                                      (AVMs) can no longer be used on home equity and second mortgage loans without a property condition
People’s Credit Union names 2010                      report and extensive back-testing.
Employee of the Year                                  [FULL STORY]
People’s Credit Union appoints
Wyche new Branch Administrator
                                                      NCUA clarifies guidance on third-party investment sales
Association Calendar                                  The National Credit Union Administration (NCUA) has clarified that its letter to credit unions 10-FCU-03,
Job Postings                                          which advised federal credit unions to carefully review the financial statements and capital adequacy of
                                                      eligible third party brokers and perform needed background checks on brokers, does not require credit
ARCHIVE                                               unions to back specific financial instruments.
                                                      [FULL STORY]
February 2011
January 24, 2011
Vol. 4 Issue 2                                        NCUA proposes enhanced incentive-compensation rules
January 2011                                          The National Credit Union Administration (NCUA) recently issued for a 45-day comment period a plan
December 22, 2010                                     that would require enhanced disclosure and reporting requirements for compensation arrangements, as
Vol. 4 Issue 1
                                                      well as prohibit incentive-based payment plans that can serve to encourage "inappropriate risk taking."
December 2010                                         [FULL STORY]
November 29, 2010
Vol. 3 Issue 11
November 2010
                                                      FinCEN advisory warns of elder financial exploitation
September 27, 2010                                    The Financial Crimes Enforcement Network (FinCEN) released on Monday, February 21, a new advisory
Vol. 3 Issue 10                                       to help financial institutions spot and report on activities involving elder financial exploitation. The
October 2010                                          advisory, Advisory to Financial Institutions on Filing Suspicious Activity Reports Regarding Elder
September 23, 2010                                    Financial Exploitation, contains red flags, or indicators that abuse may be occurring and specifically asks
Vol. 3 Issue 9                                        financial institutions to include the term "Elder Financial Exploitation" on filings of suspicious activity
September 2010                                        reports (SARs).
August 5, 2010                                        [FULL STORY]
Vol. 3 Issue 8
Summer 2010
                                                     Credit Union News
July 27, 2010
Vol. 3 Issue 7
                                                      Egan wins Farley Award
June 2010
                                                        This year the American Association of Credit Union Leagues (AACUL) presented the
May 25, 2010
Vol. 3 Issue 6
                                                      Eugene H. Farley League Leadership Award to Daniel F. Egan, Jr., president for the
                                                      Credit Union Association of Rhode Island, Massachusetts Credit Union League, Inc.,
                                                      and New Hampshire Credit Union League.
                                                      [FULL STORY]




                                                      Rhode Island’s Girls & Boys High School Basketball Championships March 11 & 12!
                                                      Proudly sponsored by the credit unions of Rhode Island, Credit Union Association of Rhode Island

                                                        It’s a tradition 21 years in the making. Planning efforts are well underway
                                                      for the 21st annual Credit Union Championships?Rhode Island’s high
                                                      school basketball finals. This is a prime opportunity for the credit unions of
                                                      Rhode Island to once again increase their visibility with this great
                                                      community event, while supporting local high school athletes. Please
                                                      consider joining your fellow credit unions, Credit Union Association of
                                                      Rhode Island, and Members United Bridge Corporate Federal Credit
                                                      Union to team up to help promote positive statewide awareness of credit
                                                      unions. Last year, more than 5,000 exuberant spectators attended!
                                                      [FULL STORY]




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                                                      People’s Credit Union hosts 2011 Strong Woman Series
                                                      Recently, People’s Credit Union hosted the 2011 Strong Woman Series at
                                                      its Middletown location. The Strong Woman Series, now in its third year,
                                                      is run through the Martin Luther King Jr. Community Center. The series is
                                                      the brainchild of Dr.Rosalind Vaz, a Middletown resident and longtime
                                                      center volunteer. The series is for women living in Newport County who
                                                      are interested in empowerment and self-improvement.
                                                      [FULL STORY]



                                                     Community Involvement

                                                      Credit unions prepare to Strike for Gold at 4th annual bowling tournament
                                                                The Credit Union Association of Rhode Island’s Social Responsibility
                                                      Committee is pleased to announce that the 4th Annual Strike for Gold
                                                      Bowling Tournament is scheduled for Wednesday, March 23, to benefit
                                                      Special Olympics Rhode Island. The event will be held at the East
                                                      Providence Lanes in East Providence. Registration begins at 3:30 p.m.,
                                                      bowling starts at 4:15 p.m., and will conclude approximately at 6:30 p.m.
                                                      Thirty-two lanes have been reserved for a total of 128 players. The deadline
                                                      to register is March 9. Participation is on a first-come, first-served basis.
                                                      [FULL STORY]


                                                      People’s Credit Union employees make scarves for Special Olympics
                                                       People’s Credit Union employees recently participated in the 2011 Special
                                                      Olympics Scarf Project. Nine employees spent the past few months
                                                      knitting and crocheting 24 scarves to be donated to the Special Olympics.
                                                      [FULL STORY]




                                                     Events

                                                      All paths lead to Chatham for the Spring Volunteer Development Conference
                                                            Historically, America’s middle class has been the cornerstone of credit
                                                      union membership and the primary contributor to our country’s job machine,
                                                      economic growth, and political stability. Since the Great Depression and
                                                      WW II, a strong social and economic compact between government,
                                                      business and workers created a financial foundation for American families.
                                                      However, today’s economic and financial environments have seriously
                                                      eroded this ideal. We have entered a new economic environment. It is one
                                                      that presents numerous challenges to financial institutions while at the
                                                      same time offers tremendous opportunities for credit unions to fulfill the
                                                      credit and deposit requirements of their current and future members.
                                                      [FULL STORY]


                                                      Save the date. . .
                                                      Credit Union Association of Rhode Island 77th Annual Meeting/Get Together Dinner - May 11, 2011

                                                       Credit Union Association of Rhode Island 77th Annual Meeting/Get Together Dinner -
                                                      May 11, 2011 Mark your calendar for Wednesday, May 11, 2011 and plan to attend
                                                      the Credit Union Association of Rhode Island’s 77th Annual Meeting and Get
                                                      Together Dinner at Metacomet Country Club in East Providence. Join your peers for
                                                      an evening of networking and socializing.
                                                      [FULL STORY]



                                                     Business Solutions




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                                                      Strategic technology planning is focus of new Tech Council white paper
                                                             Automation and other technological solutions can be real money-savers—and tools for
                                                      furthering growth—but only if they are the right solutions for your credit union, your
                                                      employees and your membership. And they are only right for you if they further your
                                                      organizational strategies and goals.
                                                      [FULL STORY]



                                                     Credit Union People

                                                      People’s Credit Union names 2010 Employee of the Year
                                                           On February 15, People’s Credit Union named Izilda Afonso, People’s
                                                      human resources generalist, as the 2010 Employee of the Year. The
                                                      Employee of the Year is selected from a group of employees that were
                                                      nominated each quarter to People’s President’s Council. The purpose of
                                                      People’s President’s Council is to promote and reward excellence in
                                                      meeting and exceeding service standards and core values of People’s
                                                      Credit Union. Employees are nominated to the Council by their peers and
                                                      selected by the leadership of the credit union.
                                                      [FULL STORY]



                                                      People’s Credit Union appoints Wyche new Branch Administrator
                                                      Nancy Quick, VP of sales and service for People’s Credit Union, is pleased to announce the appointment
                                                      of Brian Wyche to the newly created Branch Administrator position. In this position, Wyche is responsible
                                                      for planning, directing and organizing the operational and management activities of the credit union
                                                      branch offices and member service center.
                                                      [FULL STORY]



                                                     Calendar

                                                      Association Calendar
                                                      For a listing of upcoming Association programs and events, click here.


                                                     Careers

                                                      Job Postings
                                                      For a complete list of current job postings, click here.

                                                      If you would like to have your job listed on the Association’s website, please submit to jobs@cucenter.
                                                      org.


Published by Credit Union Association of Rhode Island                                                                                           TELL A FRIEND

  Created with eNewsBuilder




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Horizons




Monday, January 24, 2011                                                                    February 2011                                      VOLUME 4 ISSUE 2

TOPICS                                               President's Message
President's Message                                   President's Message
Legislative & Regulatory                              by Daniel F. Egan, Jr.
CU News
                                                      With a new Congress in session, the Association is once again focused on federal legislative relief in two
Community Involvement                                 areas: capital reform and member business lending. On January 14, 2011, the National Credit Union
Events                                                Administration (NCUA) Board Chairman Debbie Matz warned in a letter to key lawmakers that current
                                                      credit union prompt corrective action (PCA) rules discourage some credit unions from marketing their
Business Solutions
                                                      “desirable products and services” out of concern that attracting increased share deposits could deflate
People                                                net worth positions. To reverse this disincentive for credit unions to accept deposits from their members,
Calendar                                              Matz wants to allow qualifying credit unions to exclude assets that carry zero risk, such as short term
                                                      Treasury securities, from the definition of “total assets.” She also proposed authorizing qualifying credit
Careers
                                                      unions to issue supplemental capital. Current economic conditions warrant a statutory remedy, Matz
CONTENTS                                              stated.
                                                      [FULL STORY]
President's Message
Association provides education for
                                                     Legislative & Regulatory
director financial literacy
certification                                         Association provides education for director financial literacy certification
Registration for February 17 NCUA                     On December 22, 2010, the National Credit Union Administration (NCUA) released its new Director
“Virtual Town Hall” is open                           Duties Rule, which contains an explicit financial literacy requirement for all directors of federally-
Agencies announce start of initial                    chartered credit unions. It becomes effective January 27, 2011 and compliance for existing directors with
S.A.F.E. registration period                          the financial literacy portion is required by July 27, 2011. Directors elected or appointed after January 27,
                                                      2011, must satisfy the financial literacy requirements within six months following seating.
Credit union concerns regarding
                                                      [FULL STORY]
interchange rule get press airing
CFPB will consider credit union
concerns as agency develops
                                                      Registration for February 17 NCUA “Virtual Town Hall” is open
                                                      The National Credit Union Administration (NCUA) has opened registration for its upcoming "Virtual Town
Truth-in-Savings changes finalized
                                                      Hall," which will take place on February 17. The town hall will address the agency's initiatives to reform
by NCUA
                                                      the corporate credit union system, minimize costs to consumer credit unions, and promote financial
Foreclosure management for                            literacy for credit union volunteers.
credit unions covered in NCUA                         [FULL STORY]
letter
Panel recommends changes to                           Agencies announce start of initial S.A.F.E. registration period
private company GAAP
                                                      The federal bank, thrift, and credit union regulatory agencies, along with the Farm Credit Administration,
Rhode Island’s Girls & Boys High                      announced that the Nationwide Mortgage Licensing System and Registry is accepting federal
School Basketball Championships                       registrations as of January 31.
March 11 & 12!                                        [FULL STORY]
Rhode Island member growth
slow during first three quarters of
2010
Significant spike in ATM fee
disclosure lawsuits



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Discover survey shows members                         Credit union concerns regarding interchange rule get press airing
and consumers overall less                            During a national press call Thursday, January 20, Jim Blake, president/CEO of HarborOne Credit
optimistic on finances
                                                      Union, Brockton, MA, reiterated the credit union call to scrap the Federal Reserve Board's plan to
Westerly Community Credit Union                       implement government restrictions on interchange fees.
Holiday Basketball Tournament                         [FULL STORY]
earned over $12,000 for local
high schools
                                                      CFPB will consider credit union concerns as agency develops
People’s Credit Union raises funds
                                                      The Consumer Financial Protection Bureau (CFPB) is looking at ways to streamline truth in lending and
for Rhode Island Community Food
                                                      Real Estate Settlement Procedures Act (RESPA) rules, and would welcome Credit Union National
Bank
                                                      Association (CUNA) input on how the regulatory burden on credit unions could be reduced, CFPB official
People’s Credit Union holds food                      Steve Antonakes, former Commissioner of Banks in Massachusetts, told a group of credit union officials
drive for kids                                        last week.
The Great New England Credit                          [FULL STORY]
Union Show is coming!
Save the date. . .                                    Truth-in-Savings changes finalized by NCUA
CO-OP Financial Services passes                       The National Credit Union Administration (NCUA) on January 13 finalized a rule that requires credit
two-billion mark in annual                            unions to disclose overdraft and returned item (NSF) fees on their members' periodic statements.
payments processed for 2010                           [FULL STORY]

Balance Sheet Solutions magnifies
value to credit unions                                Foreclosure management for credit unions covered in NCUA letter
Toledo named Director of                              Pending National Credit Union Administration (NCUA) examination standards will address the need for
Mortgage Lending at Wave                              appropriate due diligence when dealing with outside vendors, quality control reviews on foreclosure
Federal Credit Union                                  processes, and stress event analysis and reporting, the NCUA said in a recent letter to credit unions.
                                                      [FULL STORY]
Holiday
Association Calendar
                                                      Panel recommends changes to private company GAAP
Job Postings
                                                      Standards related to U.S. Generally Accepted Accounting Principles (GAAP) for public companies, and
ARCHIVE                                               the standard setting process itself, should be reformed to "best meet the needs of users of private
                                                      company financial statements," a blue-ribbon panel has recommended.
January 2011                                          [FULL STORY]
December 22, 2010
Vol. 4 Issue 1
December 2010                                        Credit Union News
November 29, 2010
Vol. 3 Issue 11                                       Rhode Island’s Girls & Boys High School Basketball Championships March 11 & 12!
November 2010                                         Proudly sponsored by the credit unions of Rhode Island and the Credit Union Association of Rhode
September 27, 2010                                    Island
Vol. 3 Issue 10
October 2010                                                                                Shoot for the hoop…and credit unions score!
September 23, 2010
Vol. 3 Issue 9                                        It’s a tradition 21 years in the making. Planning efforts are well underway
September 2010                                        for the 21st annual Credit Union Championships-Rhode Island’s high
August 5, 2010                                        school basketball finals.
Vol. 3 Issue 8                                        [FULL STORY]
Summer 2010
July 27, 2010
Vol. 3 Issue 7
June 2010
May 25, 2010                                          Rhode Island member growth slow during first three quarters of 2010
Vol. 3 Issue 6
                                                      For all the good publicity credit unions have generated from campaigns such as MoveYourMoney.org or
                                                      consumer backlash against big banks, the enthusiasm does not appear to be translating to membership
                                                      growth. Nationally, credit unions grew at a 0.7% rate through September 30.
                                                      [FULL STORY]




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                                                      Significant spike in ATM fee disclosure lawsuits
                                                      An escalating number of class action lawsuits filed against credit unions for failing to comply with
                                                      Regulation E requirements for disclosing ATM fees has triggered a significant risk concern for credit
                                                      unions. The lawsuits allege violation of section 205.16 of the regulation, which applies when a consumer
                                                      initiates an electronic funds transfer or a balance inquiry at an ATM owned or operated by an institution
                                                      that does not hold the account to or from which the transfer is made, or about which an inquiry is made.
                                                      According to CUNA Mutual’s Credit Union Protection Claims division, there has been a steady stream of
                                                      lawsuits reported in the last several months with 12 new lawsuits alone reported between mid-December
                                                      and the new year.
                                                      [FULL STORY]


                                                      Discover survey shows members and consumers overall less optimistic on finances
                                                      Although it noted that credit unions did not engage in the practices that contributed to today's economic
                                                      mess, a new study indicates that even credit union members--"a typically confident group of consumers"--
                                                      are feeling the economy's effects on their finances.
                                                      [FULL STORY]



                                                     Community Involvement

                                                      Westerly Community Credit Union Holiday Basketball Tournament earned over $12,000
                                                      for local high schools
                                                           Westerly Community Credit Union (WCCU) distributed checks from the
                                                      27th Annual WCCU Holiday Basketball Tournament to the four
                                                      participating high schools: Chariho, Exeter-West Greenwich, Stonington,
                                                      and Westerly. The tournament, held on December 27 to 30, raised money
                                                      for the four participating schools’ sports boosters.
                                                      [FULL STORY]




                                                      People’s Credit Union raises funds for Rhode Island Community Food Bank
                                                       Throughout the months of December and January, People’s Credit Union
                                                      employees raised money for the Rhode Island Community Food Bank.
                                                      The Rhode Island Community Food Bank received over $1,130 dollars
                                                      from People’s to help a large number of Rhode Island families at risk for
                                                      hunger, which is at its highest level in a decade.
                                                      [FULL STORY]



                                                      People’s Credit Union holds food drive for kids
                                                      People’s Credit Union has partnered with the Jonnycake Center of Peace Dale to provide breakfast and
                                                      lunch items for school age children for February vacation. This is the third year the credit union has
                                                      partnered with the Jonnycake Center for this project.
                                                      [FULL STORY]



                                                     Events

                                                      The Great New England Credit Union Show is coming!
                                                      3rd Annual - Thursday, April 21 at Boxborough Holiday Inn

                                                           On April 21, the Credit Union Association of Rhode Island, the New
                                                      Hampshire and Massachusetts Credit Union Leagues, and The Warren
                                                      Group will host, once again, The Great New England Credit Union
                                                      Show in the Parade Exhibition Room at the Holiday Inn in Boxborough,
                                                      Massachusetts. This one-day credit union event will present a
                                                      showcase of services, equipment and technology, as well as seminars
                                                      of particular relevance for credit unions.
                                                      [FULL STORY]




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                                                      Save the date. . .
                                                      Credit Union Association of Rhode Island 77th Annual Meeting/Get Together Dinner - May 11, 2011

                                                         Mark your calendar for Wednesday, May 11, 2011 and plan to attend the
                                                      Credit Union Association of Rhode Island’s 77th Annual Meeting and Get
                                                      Together Dinner at Metacomet Country Club in East Providence. Join your
                                                      peers for an evening of networking and socializing.
                                                      [FULL STORY]




                                                     Business Solutions

                                                      CO-OP Financial Services passes two-billion mark in annual payments processed for
                                                      2010
                                                      Also sets mark with eight million transactions in a single day

                                                             CO-OP Financial Services, the credit union industry’s leading electronic payments
                                                      processor, established a new annual record by handling more than two billion
                                                      transactions for clients in 2010, the first time it has exceeded this milestone.
                                                      [FULL STORY]




                                                      Balance Sheet Solutions magnifies value to credit unions
                                                      Expands reach with the addition of the Financial Solutions Group

                                                      Balance Sheet Solutions, LLC, is pleased to announce the hiring
                                                      of the staff of the Financial Solutions Group, formerly a
                                                      department of Western Bridge Corporate Federal Credit Union.
                                                      The eight individuals, led by David Scott, senior interest rate risk consultant & office manager, will remain
                                                      in their current location in San Dimas, CA.
                                                      [FULL STORY]



                                                     Credit Union People

                                                      Toledo named Director of Mortgage Lending at Wave Federal Credit Union
                                                                Pier-Mari Toledo has assumed the position of Director of Mortgage Lending,
                                                      Secondary and Portfolio Lending Services at Wave Federal Credit Union. In this role
                                                      she will work with Wave members and the community to provide secondary
                                                      mortgage lending products and services as well as consultation with those looking for
                                                      the right mortgage loan.
                                                      [FULL STORY]




                                                     Calendar

                                                      Holiday
                                                        The Association office will be closed Monday, February 21, in observance
                                                      of Presidents Day. The Association’s regular office hours are Monday
                                                      through Friday 8:00 a.m. to 5:00 p.m.




                                                      Association Calendar
                                                      For a listing of upcoming Association programs and events, click here.


                                                     Careers




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                                                        Job Postings
                                                        For a complete list of current job postings, click here.

                                                        If you would like to have your job listed on the Association’s website, please submit to jobs@cucenter.
                                                        org.


 Published by Credit Union Association of Rhode Island                                                                                            TELL A FRIEND

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