THE news

PENNINGTON, Ala.—With NCUA cracking down on late filers, one credit union has reduced the time it takes to compile, complete and file its quarterly 5300 Call Report from several days to just two hours.

SAN CARLOS, Calif.—Simply signing a contract for Apple Pay is not a mobile payments strategy, cautions one payments consultant who encourages CUs to carefully map their payments future and learn from the past.

MADISON, Wis.— Elenita San Roque, CEO of the Asian Confederation of Credit Unions, Thailand, and Kristi Lozano, Financial Education Specialist at San Mateo Credit Union in California have been named winners of 2014 Network Empowerment Grants that will be used to improve the financial status of women in their communities.

 

TULARE, Calif.—Tulare County FCU has created a special low-interest loan program to help finance the high cost of drilling wells here as the ongoing drought continues to plague the region.

 

SPOKANE, Wash.—During its annual meeting here, the Northwest CU Association seated a new board.

WASHINGTON—Jim Nussle, the former Iowa congressman who is now CUNA’s new CEO, said he is working to provide the “bold leadership” the association’s board stressed it was seeking when it hired him, is getting up to speed on both internal and external CU system challenges, and indicated he is open-minded about working with traditional enemies of credit unions when there are areas of common interest on Capitol Hill.

In an interview with CUToday.info, Nussle, who also previously led the Office of Management and Budget and who is in just his third week at CUNA, said that while he is new to the job, he has a strong familiarity with credit unions. 

PLANO, Texas—A group of economists meeting here as part of Catalyst Corporate FCU’s Economic Forum here said they see no indications the U.S. economy is in danger of returning to recessionary conditions. Addressing more than 300 credit union executives, the economists further forecast an ongoing, gradual, upward climb. Among those economists was Steven Rick, chief economist with CUNA Mutual Group, noted the latest unemployment figure of 5.9% means the U.S. is getting close to the long-run target of 5%.  “Anything below that will create pressure on wage,” he said, adding that the U.S. continues to see more more high quality jobs. In 2014, 75 percent of jobs added were considered “high quality,” versus just 50% in 2013.

AUSTIN, Texas—A new study offers some insights into the top features of mobile banking smart apps.

Malauzai Software’s latest Monkey Insights survey, which it bills as the “little-data" report and which was conducted during August data with 200+ banks & credit unions. Not counting checking, Malauzai said the top five features used in mobile banking are transaction history, internal account transfer history, internal account transfers, check and deposit images, and remote check deposit. “On iPhones, internal transfer history jumps above transaction history. On iPads, check and deposit images are at a much higher percentage than that of smartphones,” the company said