Press Center: CreditUnion.com’s press center compiles press releases from across the credit union industry to promote the cooperative nature of the industry.

Press Center

This Week’s Featured Press Releases
Tough economy, growing losses heighten focus on Allowance for Loan Loss policy 3/8/2010 Callahan & Associates, Inc., Industry Analysis and Trends Washington, D.C. (March 8, 2010) – With escalating delinquencies and write offs, examiners and auditors continue to zero in on how credit unions determine their allowance for loan loss (ALL) – and whether those provisions are adequate. To help credit unions respond and ensure a well-thought-out strategy, Callahan & Associates has partnered with Sacher Consulting. Together, they are offering a comprehensive package that includes a customizable ALL policy, consulting and access to relevant webinar Email a Friend
Low Interest Rate Environment is Foundation for New Educational Series 3/8/2010 Trust for Credit Unions Distributed by Callahan Financial Services, Investments With short term rates anticipated to be low for extended periods of time, managing credit union investments will require difficult decisions for credit union professionals. In an effort to educate the credit union community, Goldman Sachs Asset Management and the Trust for Credit Unions Mutual Fund Family are hosting an educational webinar series this spring titled: “Fixed Income University.” Email a Friend

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AFFINITY FEDERAL CREDIT UNION IN DENVILLE HOSTS BUSINESS NETWORKING EVENT 3/10/2010
Affinity Federal Credit Union, Miscellaneous

A networking event will be held for the Denville and Dover local business community, sponsored by the Denville branch of Affinity Federal Credit Union. Appetizers and beverages will be served.
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AFFINITY FCU FOUNDATION OFFERS SCHOLARSHIP TO OFFSET RISING TUITION COSTS 3/10/2010
Affinity Federal Credit Union, Charity Events

At a time when tuition costs continue to rise, Affinity Federal Credit Union, New Jersey’s largest credit union, is once again accepting applications for its annual scholarship program. The program is funded by the Affinity Foundation, a 501(c)(3) charity corporation.
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CU Exec Cautions Time Running Out for Mortgage Tax Credit 3/8/2010
LemmonTree Marketing Group, Lending

For consumers thinking of a buying a new home, credit union executive recommends doing it sooner than April 30th, the better! As a large provider of mortgages in Franklin, Fulton and the Borough of Shippensburg in Pennsylvania and Washington County, Maryland, Patriot Federal Credit Union COO, Michael Silvers, wants home buyers to take advantage of the federal rebate program that ends April 30, 2010!
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PM Systems Sees the Future, Creates Video Marketing Division 3/10/2010
PM Systems Corporation, Industry Analysis and Trends

Company sees video as an innovative marketing channel playing a role in helping the financial industry continue to grow by attracting members across all age segments.
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PSCU Financial Services Renews Chairman’s Roundtable Sponsorship With Filene Research Institute 3/10/2010
PSCU Financial Services, Inc., Strategic Partnerships

– PSCU Financial Services announced today it has signed another three-year commitment as a Chairman’s Roundtable gifter for the Filene Research Institute. PSCU Financial Services, the nation’s largest CUSO, was the organization’s first Chairman’s Roundtable sponsor six years ago and its participation has encouraged contributions from other CUSOs and industry groups. The company’s funding will be used to underwrite research into innovative new products designed to meet evolving consumer finance n
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CUSO Helps Credit Unions Promote 'Locally-Owned' 3/5/2010
Xtend, Inc, Strategic Partnerships

Xtend, Inc., a Grand Rapids, Michigan-based multi-owned cooperative CUSO, recently helped thirty credit unions get the message out to members reminding them of the importance of supporting locally owned financial institutions for all of their savings and lending needs. On February 18th, more than 125,000 electronic communications were delivered to members of those thirty credit unions nationwide through a combination of Email and online banking messages.
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eDOC Leverages Strategic User Group 3/5/2010
eDOC Innovations, Miscellaneous

eDOC Innovations, a leading e-Document management CUSO serving over 400 credit unions nationwide, has announced the formation of its first peer User Group. Conceived through collaboration, eDOC’s User Group is currently composed of participants form thirteen credit unions that utilize eDOC’s “go green” solutions and the CU*Answers core processing platform. The User Group participates in web conferences monthly to brainstorm on ways to leverage the partnership and resources available from within
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MEMBERS Development Company Announces New 2010 Board Officers 3/9/2010
Beyond Marketing, LLC, Strategic Partnerships
MADISON, Wis. - MEMBERS Development Company (MDC), a CUSO dedicated to research and development for the credit union industry, announces new officers of its board of directors. Dave Mooney has been named the chairman of the board. Charlie Mallon and Bob Petty have been elected to three-year terms on the board of directors.
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PRIMARY FINANCIAL NAMES NEW BOARD MEMBER 3/9/2010
Corporate One Federal Credit Union, Investments
WESTERVILLE, OH - Primary Financial Company LLC, a credit union service organization (CUSO) owned by twenty-seven corporate credit unions, recently appointed Mike Lee, Vice President, Member Relations, Midwest Region, Member’s United Federal Credit Union, as its newest board member. Lee replaces Lew Lambert, who had served on the Primary Financial board since 2003 and was the board chair at the time of his retirement.
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PSCU Partners with American Red Cross to Save Lives 3/8/2010
Pacific Service Credit Union, Making a Difference

Walnut Creek, Calif., March 8, 2010 – For the past eight years, Pacific Service Credit Union has partnered with the American Red Cross Bay Area for the annual CPR Saturday events around the Bay. On Saturday, March 13, 2010, the Red Cross will provide free CPR training to more than 2,500 Bay Area residents at 10 training sites. “We support the mission of the Red Cross events to prepare citizens of our local communities to better respond to emergencies,” said Steve Punch, president of Pacific
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Summit Credit Union One of First Madison-area Financials to Offer WHEDA 100% Home Financing Loans 3/8/2010
Summit Credit Union, Lending

MADISON, Wis. - Summit Credit Union has partnered with the Wisconsin Home and Economic Authority (WHEDA) to offer the new Fannie Mae Advantage mortgage, designed specifically for first-time home buyers.
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TMG Adds Card Services Personnel 3/8/2010
The Members Group, Personnel Promotions

TMG (The Members Group) has added two employees to its Card Services division - Kathy Rhoads and Sandy Bland.
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myCUmortgage pays its partners 3/8/2010
Beyond Marketing, LLC, Lending
FAIRBORN, Ohio (March 8, 2010) ? Payback is great, according to nearly 70 credit union partners of myCUmortgage® [www.mycumortgagepartners.com]. The credit union mortgage service provider paid more than $2.5 million to its partners in return for purchasing mortgage loans.
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One small Change Can Reduce Expenses 3/8/2010
Recy, Inc , Making a Difference
One small Change Can Reduce Expenses And Help You GO GREEN Replace Expensive Drive-Thu Envelopes?? St. Charles, IL (March 8, 2010) – One small change to reuse in lieu of refuse is helping financial institutions across the country help the environment. For the last 30-40 years, financial institutions have been using single-time use paper drive-up envelopes to return receipts and/or money to their customers in drive-thru lanes. Not only is this a harmful to the environment but it is la
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2010 Credit Union Cherry Blossom Run® Earns Support of 39 U.S. Senators, Representatives 3/8/2010
PSCU Financial Services, Inc., Charity Events

Thirty nine members of the U.S. Congress have provided their support for the 2010 Credit Union Cherry Blossom Ten Mile Run® by signing up as Honorary Race Chairs. These legislators represent 22 states and the District of Columbia. The run will be held in the nation’s capital on Sunday, April 11.
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Credit unions cooperate. They share new strategic developments, successes and failures as a means to help the collective credit union industry. By sharing these pieces of news, credit unions leverage their successes and minimize their failures. Callahan & Associates promotes this cooperative effort through CreditUnions.com’s Press Center. CreditUnions.com Influence : 50,000 credit union professionals visit each month.

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