With all the craziness going on with the banks, fewer and fewer are providing mortgage and home-equity loans; but, as I understand it, credit unions still have plenty of money to lend to prospective homebuyers.
I actually saw a commercial from my own credit union recently and even though it was a little weird…its star is a penguin hand puppet…. It’s good to see they are trying to get the word out.
But where is everyone else? (more…)
The loan files at BECU are empty, in fact, for the past year, they have been non-existent.
Washington’s largest credit union began offering members the state’s first “paperless” mortgage about a year ago and the program has been a remarkable success.
Last month Joe Brancucci, executive vice president and chief lending officer at $8.5 billion Boeing Employees Credit Union filled an ACUMA (American Credit Union Mortgage Association) audience in on details about how BECU pioneered an entirely paperless mortgage experience. (more…)
By Candice Reed
Staff turnover is a problem all credit unions face and it’s especially troublesome in areas of the country where unemployment is low. Employees leave for other careers, taking a host of knowledge with them, but John Fenton, President and CEO of Affinity Federal Credit Union (AFCU) thinks he may have found the answer to retaining good employees.
“We’re in the financial industry and the entire industry has problems keeping good employees,” he said. “But we recognize this and address it. Our overall employee turnover rate hovers around 10 percent, so we must be doing something right.” (more…)
By Candice Reed
1. What is the total membership of owner/client credit unions using the CU*BASE platform?
The current marketing numbers are 122 credit unions utilizing the CU*BASE system, in either an ASP or in-house environment, representing approximately one million members. This does not include the credit unions processing CU*BASE through our network affiliates, CU*NorthWest and CU*South. Add to that our current commitments in 2008, and we’ll be well over 140 credit unions and 1.2 million members very soon.
You must remember that today, CU*Answers is much more than CU*BASE. Through our other business lines, we reach approximately 500 additional credit unions with brands like CU*Check, Processing Alliance, and eDOC Innovations. What used to be a simple credit union-owned core data processing firm of 29 credit unions in Michigan is beginning to catch on. (more…)
