With the release of NCUA Letter to Credit Unions 10-CU-03 on concentration risk, many in the credit union industry are wondering what strategic ramifications could result from this guidance. Read more in Credit Union Management’s online-only “CFO Focus” column, below.
Also check out the online-only “Teaching Smart Money Management” and “NextGen Know-How” columns, all in this issue of CUES FYI.
CFO Focus: Addressing Concentration Limits
Six critical first steps
NextGen Know-How: Problem Employees
Nine strategies for dealing with poor performers
Teaching Smart Money Management: Be an Influencer
Will your financial literacy program really change your members’ behavior?
Next Generation Leaders: Brett Wooden
Profiles of up-and-coming credit union employees
Credit Union Management Featured Article
The Collaborative Strategy
Credit unions can no longer live off net interest margin. CUSOs can help alleviate both balance sheet and competitive pressure.
CUES, CUES Director and CUES Supplier members, as well as subscribers to Credit Union Management, can now access a complete digital version of the October issue by logging in at cumanagement.org, then clicking on the magazine image in the top bar. E-mail cues@cues.org for password help.
From Our Sponsor 
Four ‘First Steps’ for Boards to Follow When Setting Objectives for Executive Compensation
CUNA Mutual Group is a leading provider of financial services to credit unions, their members, and valued customers worldwide. As we celebrate 75 years of market commitment in 2010, CUNA Mutual's vision is unwavering: to be a trusted business partner who delivers service excellence with customer-focused products and market-driven innovation.
Member Benefit Section
Dormant Accounts Policy: Anne Heggelund, president of $19 million Marathon County Employees Credit Union, has shared her CU’s policy for dormant accounts in CUES Members Share. Log on at cues.org, then click the Members Share link and finally select “Lending” in the “policy category” pull-down menu.
Jobs: The CUES Web site provides listings of positions and internships, both available and wanted. Currently, there are several executive- and staff-level jobs posted. To view or submit (free for CUES members) a position, click here.
Review all your member benefits here.
Blog: Some Conflict is Unavoidable--and Good: At CUES Director Development Seminar last month in Vancouver, Michael Daigneault compared credit union CEOs and boards to a young married couple. “We're so nice to each other--we're so polite to each other--that we don't have good authentic communication.” You shouldn’t avoid conflict, he said, because some conflict is good. Read more in this CUES Skybox post.
And hear more from Daigneault at CUES’ Directors Conference, Dec. 5-8 in Phoenix.
Don’t Forget to Vote
If you can’t attend CUES’ CEO/Executive Team Network to vote for the Next Top Credit Union Exec winner in person, you can still watch the finalists’ presentation videos and cast your vote for your favorite. Online voting will only be open on NextTopCreditUnionExec.com, Nov. 9 until 5 p.m. Eastern time. Don’t miss your chance to vote—mark your calendar today!
Cool Web Site: Shoestring is an online magazine that is all about being frugal yet stylish. The site is currently featuring articles with homemade (but not crazy difficult) Halloween costume ideas and ways to save on Halloween expenses.
CUES Councils: There are four regional CUES events happening in October and November. Find an event in your area by using the CUES Council map.
CUES Wisconsin Council Meeting
Oct. 25-26
Madison, Wis.
Alabama Council
Nov. 9
Columbiana, Ala.
Northeast Council
Nov. 16
Wilkes Barre, Pa.
Delaware Valley Council
Nov. 17
Malvern, Pa.
Member News:
Obituary: Jimmie Bearden, former CUES member and the long-serving president of AEDC Federal Credit Union (now Ascend FCU, Tullahoma, Tenn.), has died. Bearden started at the CU in 1956 and was named CEO in 1968, where she served until retiring in 2004.
Promotion: Joe Kregul is the new president/CEO of HealthCare Associates Credit Union, Naperville, Ill. He was previously VP/chief financial officer.
Name Change: First South Credit Union, Memphis, has updated its name to add the word “financial.” First South Financial CU has three CUES members.
Recognition: Utilities Employees Credit Union, Reading, Pa., has been named one of the Best Places to Work in Pennsylvania for 2010.
Jack Henry & Associates, Inc., announced the president of its ProfitStars division, David Foss, has been elected president of the Association for Financial Technology. AFT is a volunteer association of industry visionaries, thought leaders and senior executives from companies that serve the domestic and international financial services market.
Community Involvement: Commonwealth Credit Union, Frankfort, Ky., collected thousands of new to gently used teddy bears and stuffed animals for the Kosair “Bears On Patrol” program. Bears On Patrol is a cooperative effort between Kosair Charities and local law enforcement to provide teddy bears and other stuffed animals in police cars to comfort young children who may have been exposed to traumatic events.
WEOKIE Credit Union’s Foundation, Oklahoma City, Okla., has presented its Money Talks financial education program to students in several area schools.
Advancial Federal Credit Union, Lafayette, La., has partnered with Ascension Episcopal School to educate and financially serve students, parents and staff of the school through the CU@School program. CU@School provides “School Banking Days” to all grade levels.
Teachers Federal Credit Union, Farmingville, N.Y., will host a special, free e-waste collection and Shredding Day Oct. 23.
FORUM Credit Union, Indianapolis, will be participating in Indiana’s fifth annual Money Smart Week in October by hosting events and offering activities that encourage financial literacy, the benefits of saving, and goal setting at all branch locations.
Genisys Credit Union, Pontiac, Mich., was the major sponsor for the 13th Annual Taste of Clarkston on Sept. 26, which attracted over 30 participating restaurants and thousands of food lovers. Live music, games and activities were also part of the festivities. Several Genisys CU staff volunteered their time to sell tickets at the event.
Read more—and submit your own--CUES member news here.
The Best Online Training
CUES Online University Plus® with Learning Management System offers more than 150 courses and a regularly updated compliance library. Learn more now.
CUES Calendar
Webinar: Ongoing Board Development: Key to Good Governance
Oct. 26
10-11 a.m. Central time
Webinar: How to Align Your Brand, PR, and Marketing
Nov. 3
10-11 a.m. Central time
Free! Webinar: Creating Increased Profitability Through Acting as
Our Members' Trusted Financial Advocate
Nov. 10
1-2 p.m. Central time
Webinar: Credit Card Portfolio Sales: The Good, Bad and Ugly
Nov. 15
1-2:30 p.m. Central time
CEO/Executive Team Network™
Nov. 7-10
Dallas
Directors Conference
Dec. 5-8
Phoenix
ServiStar Users Group
Jan. 31-Feb.2
San Diego
CUES Director Strategy Seminar
Feb. 2-4
San Diego
CUES Symposium 2011: A CEO/Chairman Exchange
Feb. 6-10
Koloa Kauai, Hawaii
Check out all the upcoming CUES events.
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