Links in “Credit Unions”

According to Callahan and Associates’ third quarter Trendwatch report there are bright horizons ahead for credit union growth. Double-digit growth in loans has led to increased interest income leading Chip Filson to note that we’re putting the “credit” back in credit unions. [11/13/14]

Consider your BSA program as one of the wheels that supports the vehicle that is your compliance program. Within this wheel, there are several smaller components—the rim, axle, and spokes could perhaps be considered due diligence, training, and suspicious activity monitoring. For BSA, one of these crucial pieces is the suspicious activity report (SAR) narrative. In this blog post, Analyst Rachel Osborn has prepared a good and a bad example of SAR narratives so you can see the guidance in action. [11/12/14]

St. Louis Community Credit Union experienced a strange break in last Tuesday morning—a masked man reportedly used a sledge hammer to create an opening in one of their brick walls. He walked in, walked around, and left (without taking anything). [11/12/14]

President Barack Obama is advocating a principle called "net neutrality," meaning that access to faster and better internet should be equal for all kinds of data, rather than certain industries or companies being allowed to pay for higher-quality web. Otherwise, your credit union might have to fork over some cash just to have good online access for your members. [11/12/14]

Election day may have passed, but here's a list of 6 elections yet to be determined, all of which have credit union supporters as potential winners. [11/12/14]

The author of this article argues that if your credit union wants a piece of the $2.4 trillion dollar pie ($2.4 trillion dollars being gen Y's aggregate income in 2010), you need a "responsive website." [11/12/14]

Returning veterans need three things: 1) education on how money works and how to handle their finances, 2) help with addressing previous credit mistakes, and 3) access to loans established to meet their needs, which could mean something as simple as helping them to refinance a high rate loan into a more affordable loan. [11/11/14]

Both CU24, a point-of-sale ATM network, and Allpoint, a national ATM network, have agreed to extend their agreement to continue surcharge-free access to over 55,000 ATMS nationwide through the CU24 network. CU24 is the largest credit union-owned ATM and POS network in the U.S. [11/11/14]

NCUA has filed suit in federal court against Deutsche Bank National Trust Company claiming it failed to fulfill its duties as trustee for 121 residential mortgage-backed securities trusts. NCUA alleges that five corporate credit unions failed in part as a result of Deutsche Bank’s actions. [11/11/14]

CUNA says that NCUA needs to exercise restraint since its budget has increased by 51% since 2009, particularly since credit unions’ financial health has steadily improved. CUNA added that having no access to the standards for raises and other increases for NCUA staff, whose pay and benefits comprise 73% of the agency's budget, is one issue NCUA needs to address. [11/10/14]