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Credit Union Journal

Friday, September 3, 2010, as of 05:31 AM EDT

Daily Briefing for Friday, September 3:

Market Value Accounting For Loans Draws Ire Of CUs, Banks

NORWALK, Conn. – The Financial Accounting Standards Board’s proposal to extend market value accounting to long-term assets – including loans – is creating widespread opposition among the lending community, as credit unions and banks see the havoc market value accounting created on the investment side of the ledger over the past two years.

This Week's Lead Stories

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Business of Business

PHOENIX-With Congress in recess, credit unions are expected to lobby hard in members' home districts for relief from the member business loan cap following new data showing jobs-creating MBLs were the strongest loan category during the first half of the year.

Business of Sharing

MECHANICSBURG, Penn.-AmeriChoice FCU has launched a "My AmeriChoice Story" campaign featuring videotaped stories from members about how the credit union has helped them reach financial goals.

Business of Restarting

MANCHESTER, N.H.-St. Mary's Bank has introduced two loan products whose primary goal isn't making money for the CU. Instead, the loans help members build and rebuild credit, and the CU establish long-term relationships.

A Penny For Your Overdrafts At 1 CU

RALEIGH, N.C.-Coastal FCU has instituted a one-cent overdraft fee for members that correct the problem before 11 p.m. the same day they overdraft or in cases where their account balances are not more than $10 in the red. Accounts that are more than $10 overdrawn after 11 p.m. will be charged the standard $28 fee.

Mobile Moves Beyond iPhone

LAKE JACKSON, Texas-Credit unions are expanding beyond Apple's iPhone to develop mobile banking applications for other devices, in particular those running the Google Android operating system.

Special Report

Back to School

It's back-to-school season, and when CU executives attend the latest crop of continuing education programs, they'll likely see some changes in the curriculum, due in part to the fallout from the troubled economy. Learn what's on tap and what's changed in this week's special report.

Special Report

Credit & Debit Cards

This week's special report explores the link between a strong cards program and member loyalty and profitability. Also on tap: four views on card growth strategies, and a look at what is to come with the Aug. 15 Reg E deadline.

Special Report

Strategic Planning

This is no time for duck-and-cover. That's the consensus of CU leaders and analysts from around the country as strategic planning season gets underway for 2011 and beyond. In this issue Credit Union Journal offers insights from more than a dozen people on all aspects of strategic planning, and while the goal is to provide a broad range of input, some themes emerged regarding not being cowed by the economy and the need for planning to be an ongoing process.

Departments

Creative Initiatives

A Message with Produce

Public Service Credit Union in Romulus, Mich., is using the story of the Grape vs. the Watermelon to tell its credit union story.

Survey

This year's NFL Super Bowl winner will come from:

Email Newsletters

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The American Debt Relief Challenge

Special Report

Back to School

A deeper look at the real cost of mobile transactions, how to bolster use of mobile banking, and how one CU is taking disaster recovery to the next level are just a few of the stories in this week's special report on technology.

Recent Issues

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Business of Business

PHOENIX-With Congress in recess, credit unions are expected to lobby hard in members' home districts for relief from the member business loan cap following new data showing jobs-creating MBLs were the strongest loan category during the first half of the year.

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MBL Increase Not Enough To Drive CU Loan Growth

WASHINGTON-Despite member business lending gains, a stagnant loan portfolio that's shifting in composition is driving down loan income and CU overall revenue through the first half of the year, according to an early look at data.

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Fallout From Reg E Beginning To Be Seen In Markets

SAN RAFAEL, Calif.-A decline in interest rates being paid on consumer deposits during July is being attributed by many analysts to a Reg E deadline that is nearly here.

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Crackdown On Big Exit Packages

ALEXANDRIA, Va.-The NCUA Board, acknowledging mounting credit union losses, proposed restrictions last week on executive compensation packages for managers of troubled credit unions.

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Bankers Line Up Against CUs Over MBL Provision

WASHINGTON-Community banks across the country are lobbying Congress against a proposal to add an increase in the member business loan cap for credit unions to the pending job bill, leaving the long-sought credit union initiative in increasing doubt.