Credit Unions Should Prepare Now for More UDAAP Enforcement Actions

Recent settlements involving unfair and deceptive marketing practices should serve as reminders that credit unions need to pay close attention to complying with the Unfair, Deceptive or Abusive Acts or Practices rules.

News & Notes: Here’s What’s Happening Around the Northwest

Point West Credit Union is going bowling for Credit Unions for Kids; Gesa Credit Union opens new branches in west Pasco and south Richland; St. Helens Community Federal Credit Union plans to open a new branch on Highway 30; Columbia Credit Union names Ron Bertolucci and Connie Preece to key leadership roles; Matthew Russell joins Solarity Credit Union as chief financial officer; Nick Leute has been elected to the board of directors and Christopher Stevens to the supervisory committee at STCU.

The Four Elements That Make Payment Protection a Solid Value for Members

There are three key elements that insurance or other financial-protection products must have to be a good value: accessibility, competitive pricing, and reliability. But if the recent struggles with health insurance exchanges have shown us anything, CUNA Mutual Group’s Rich Trace says, it’s that you should probably add a fourth element to the mix: convenience.

Directors’ Awards to Honor Board Members for Leadership, Advocacy, Community Service

Credit union directors who have demonstrated extraordinary leadership and a commitment to advocacy, community service and the ongoing success of their financial institution will be honored with Directors’ Awards at the Northwest Credit Union Association’s Directors’ Conference in June.

News & Notes: Here’s What’s Happening Around the Northwest

STCU promotes Ev Hopkins and Belinda Caillouet to chief officer positions; Mindi Brock joins Our Community Credit Union as its marketing specialist; Barbara Koontz honored by CUSO Financial Services for outstanding performance in investment services; Trailhead Credit Union opens a new branch in Portland’s Mississippi District; CO-OP Miracle Match program helps credit unions raise $3 million in 2013 for Children’s Miracle Network Hospitals.

Need a 2014 Office Makeover? OfficeMax Has Answers

If your credit union’s workspace needs a makeover, OfficeMax is at the ready. While many credit unions already leverage the Strategic Link partnership for supplies and printing, there is also an opportunity to upgrade employees’ surroundings.

Compliance Question of the Week

Do we stop collecting payments on loans for a service member who is now on active duty?

Doug Page Takes the Helm as President/CEO of Great NorthWest Federal Credit Union

Doug Page became president and CEO of Great NorthWest Federal Credit Union on Jan. 1. Last week, he sat down with Anthem to reflect on his nearly 20 years at Great NorthWest and talk about what he sees in the credit union’s future.

Repo Remarketing Partners with Vendor Transparency Solutions for Online Compliance Monitoring

Repo Remarketing Inc. will partner with Vendor Transparency Solutions to provide an online compliance-monitoring portal for its nationwide recovery and remarketing services, the company has announced, saying the VTS platform will help mitigate losses and decrease risks for credit unions and their members.

Compliance Question of the Week

Who do we call if we received counterfeit currency?

Credit Unions May Face Issues with Twitter’s Financial Services Policy

It seems like you can’t go a week without reading an article that praises the use of social media platforms like Facebook and Twitter as the way to promote credit unions to younger members and potential members. But did you know that Twitter has adopted a specific policy for Financial Services?

CUNA Honors Unitus Community Credit Union for Community Service, Social Responsibility

Unitus Community Credit Union has been honored for its Money Quest Financial Challenge and its overall community involvement with two national awards from the Credit Union National Association. The Dora Maxwell Social Responsibility Award and Louise Herring Philosophy-in-Action Award will be presented in February at CUNA’s Governmental Affairs Conference.

Generating Non-Interest Income in a Highly Regulated Environment

Credit unions looking for ways to remain viable and competitive can no longer rely on conducting business as usual. As the opportunities to generate fees from traditional services are reduced, many are concerned with how to maintain a level of income that allows them to offer the services that keep them competitive. It’s a challenging balancing act at best.

BECU Board Chair Mike Sweeney: Director Service Carries ‘An Incredible Fiduciary Responsibility’

In an exclusive Anthem interview, BECU board Chairman Mike Sweeney says the credit union’s decision this week to compensate its directors and Audit Committee members is a “recognition of the considerable time and effort our officials give” to safeguarding members’ assets and ensuring the future strategic direction of the credit union.

Tell Your Members These Results: Credit Unions 86, Banks 14

If you ask a credit union employee where they think people should put their money—credit union or bank—the winner, of course, is credit union. But how exactly do you explain this to members and potential members? Recent survey results might be of help.

News & Notes from Across the Northwest

Express Credit Union, Express Advantage to Showcase Programs for Low-Income Members; Three NW Credit Unions Win CUNA Operations, Sales & Service Awards; CUNA Webinar to Offer Tips for Engaging Spanish-Speaking Members.

Compliance, Revenue, Customer Service: How Two Credit Unions Made One Choice and Got All Three

New opt-in requirements for overdraft protection on electronic transactions had two credit unions worried about compliance, member services, and lost income.

NCUA’s Matz tells Amplify Crowd: ‘Our Job is to Help Credit Unions Move Forward’

Credit unions say they face a regulatory burden that often feels oppressive, but NCUA board Chairman Debbie Matz said Tuesday that the federal regulator has taken significant steps to ease that burden, and she insisted that “gone are the days when we say no simply because we’ve always said no.”