jtemplate.ru - free templates joomla

Mountain West News

The National Credit Union Foundation is working with the Mountain West Credit Union Association to assess the need for flood disaster relief beyond current CUAid general funds.
There is some need in Colorado for financial assistance, which may be covered by remaining funds in the NCUF's CUAid general disaster relief fund, NCUF said Tuesday on its Facebook page.
Several Boulder, Colo.-area credit unions closed branches last Thursday and Friday as a result of massive flooding in the area. While flooding did not affect most credit union facilities, the homes of some members and employees sustained damages. Credit unions have for the most part been fully operational since Saturday, but recovery will be ongoing.  Click Here for more information.
The Mountain West Credit Union Foundation board has voted to make credit unions the signature sponsor for a new Children’s Miracle Network (CMN) fundraising event – the Miracle Marathon.  This exciting partnership is made possible through a donation to Children’s Hospital Colorado from the Foundation on behalf of credit unions.  A special thanks goes out to CO-OP Financial Services who increased our credit unions’ impact on the local community by matching the Foundation’s donation.  The Miracle Marathon is a new Children’s Miracle Network promotion that is being rolled out in only 5 markets including Denver – with our credit unions getting in on the ground floor as the signature sponsor.  Starting on October 1st and wrapping up on October 27th, this 27 day virtual fundraising campaign invites participants run or walk (or achieve forward motion) one mile per day at their own leisure for a total of 27.2 miles – that’s a 26.2 mile marathon plus going an extra mile for kids.  Throughout October, CMN Hospitals will send participants challenges and motivational messages with the goal of building an interactive, online community.

Credit Unions in Colorado will be promoted as the events signature sponsor through a radio campaign on Alice 105.9 and KOSI 101 that starts mid-September and runs through October.  This campaign includes over 80 radio spots along with on-air sponsorship mentions and includes web, email, and social media segments.  Credit unions will be receiving more information on how they can participate over the next few weeks and will be contacted by Colorado Children’s Hospital Foundation about this exciting event.  There is no additional donation required to participate in this campaign.  A specially designed promotional kit will be made available that will help interested credit unions garner member and employee participation.  Look for an informational webinar announcement, in early September, designed to kick off this new exciting event.  For more information now, contact Dan Santangelo at This email address is being protected from spambots. You need JavaScript enabled to view it.

Each year your Credit Union Foundation of Colorado and Wyoming and The Credit Union Foundation of Arizona help advance the credit union movement by promoting credit union leadership, education, social responsibility, and supporting long-term success in our credit union community.  Now, here is an easy way to support the Credit Union Foundations and contribute to the success of our movement by including your Foundation Fair Share donation with your 2012 dues statement.

Fair Share is a modest 7 cents per member, or interested credit unions can make a donation at the Foundation Leadership level by donating 10 cents per member.  These important donations will be used to support affordable financial services, credit union development, financial education, leadership development, and education.  Additionally, your donation will be used to support Foundation initiatives in your home state.

Key financial indicators generally show stabilization and continued improvement in the second quarter of 2011, while economic conditions persist in posing challenges for the system, according to Call Reports submitted by the nation’s 7,239 federally insured credit unions to the National Credit Union Administration (NCUA).

“The second quarter financials demonstrate the continued resilience of the credit union industry,” NCUA Board Chairman Debbie Matz said. “Specifically, I am pleased to see that net income has risen significantly since 2010, and that lending has grown for the first time in four quarters.  NCUA’s 2010 rule providing for short-term or payday loan alternatives has contributed to the recent growth. In the latest quarter, credit unions made 52 percent more of these alternative short-term loans.”

Read More

The Colorado Credit Union Working Group - a group of seven credit unions in the state of Colorado - has produced two white papers to assist credit union colleagues in the areas of Enterprise Risk Management (ERM) and Allowance for Loan and Lease Losses (ALLL).

A successful Enterprise Risk Management (ERM) process can help credit unions meet many challenges and uncertainties head-on by providing a framework within which managers can explicitly consider how the organization's risk exposures are changing, determine the amount of risk they are willing to accept, and ensure that they have the appropriate risk controls in place to limit risk to predefined tolerance levels.  The Enterprise Risk Management White Paper was designed to educate and provide guidance to credit unions as they evaluate options and opportunities to develop their own ERM approach and build their own value.

Changing economic conditions require credit unions to understand and utilize all appropriate resources to manage loan portfolios, assist members, and accurately estimate and fund the Allowance for Loan and Lease Losses.  The Allowance for Loan and Lease Losses White Paper focuses on best practices in ALLL funding, in accordance with the NCUA requirements and Generally Accepted Accounting Principles (GAAP).  It examines the key elements of ALLL methodology, as well as important qualitative and environmental factors, internal controls and collection practices.  It is designed to educate and provide guidance to credit unions as they look to adequately measure and account for losses in their loan portfolio — regardless of asset size.