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2014 News Archives

12/29/2014 -- BSA/AML compliance remains one of the biggest "hot buttons" on the list of regulatory compliance concerns and credit unions should be aware of the issues and determine if their institutions are treating BSA/AML compliance with appropriate concern and attention. What should your credit union do to limit its risk exposure? Keep reading for more information on how to keep your credit union in check. 

12/24/2014 -- Corporate One’s November 2014 unaudited monthly financials are now available. View the November Unaudited Financials.

12/16/2014 -- For a change, we have some good news regarding fraudulent activity among card holders. Corporate One’s cards partner, PSCU, announced recently that it has saved $100 million on behalf of its more than 800 member-owner credit unions through a decline in fraudulent transactions over the past 12 months.

12/9/2014 -- One of the benefits to clients of Accolade, a CUSO owned by Corporate One, is the continuing education they provide. So if you’re a client of Accolade, mark your calendar for March 18-20, 2015 for their First Annual Users Conference.

12/5/2014 -- This is the time of year when we reflect on all our blessings and celebrate all that we’ve been given. At Corporate One, thanks to the tremendous support of our members, we have much to celebrate, and many reasons to be grateful.

12/1/2014 -- Corporate One’s October 2014 unaudited monthly financials are now available. View the October Unaudited Financials.

11/24/2014 -- ATMs are an important component of the move to EMV (Europay, MasterCard, Visa) payment technology, commonly known as “chip” payment technology. And in order to make the transition as painless as possible, ATM owners need to know what they will be facing.

Updated Web site, restructuring of services and client conference slated for March

By: Joe Ghammashi, Board Chairman, CEO of Accolade

11/17/2014 -- Exciting times are taking hold at Corporate One’s CUSO, Accolade Asset/Liability Advisory Services. For starters, I’m proud to announce that Accolade has nearly doubled its revenue in the first half of 2014, when compared to the same time period in 2013. If you haven’t looked at Accolade as a tool to help with your balance sheet management or as a partner for investment advisory, I highly suggest you do.

10/29/2014 -- Eager to expand your member base and spread the word about your products and services? As a small credit union, you’re probably wondering if you should even bother with marketing a program if you don't have thousands of dollars to spend? The answer, of course, is yes.

10/21/2014 -- In keeping with the theme of “creating a culture of compliance at credit unions” for BSA/AML, I want to discuss the recognition and risks associated with electronic payments and remote deposit capture. Electronic payments are ubiquitous, but there are many consumer misconceptions as well as BSA/AML risks associated with electronic payments.

10/14/2014 -- The technology behind EMV (Europay, MasterCard, VISA), the world’s standard for inter-operation of “smart” cards, promises to deliver several key benefits to credit unions and their members over the next several years.

10/8/2014 -- Corporate One CUSO Accolade Asset/Liability Advisory Services launched a new Web site this week, and also re-structured and re-named some of their services. The site has a refreshed brand look and is more robust, including several new features, such as a new bi-weekly blog and market commentary, Twitter feed (@AccoladeALM) and event registration. It's also responsive and optimized for mobile. Read more in Joe Ghammashi's debut blog post ►

10/1/2014 -- Corporate One’s August 2014 unaudited monthly financials are now available. View the August Unaudited Financials.

9/26/2014 -- In previous issues of Solutions, I discussed the need for credit unions to create a culture of compliance for BSA/ALM. Last month I discussed the additional due diligence required when serving money services business (MSBs). This month, I want to share with you another high risk member group that requires enhanced due diligence - third-party payment processors.

9/22/2014 -- Corporate One has had a strong first half of 2014. Our financials through June show that your corporate is on a solid financial foundation.

9/16/2014 -- For many small credit unions, investing has typically been limited to purchasing certificates of deposit (CDs) from local banks or perhaps through available rate services. These investments are safe (FDIC insured, if within the insurance limit), easy to account for, and most board members are very comfortable with management investing in them. However, blanket investing in CDs may not be the most profitable option for your credit union.

9/12/14 -- I’ve been getting a lot of calls from members asking this very question, so I thought it a great topic to address. From a credit union standpoint, the biggest benefit of EMV (Europay, MasterCard, Visa) chip cards lies in its powerful fraud prevention technology inherent in the chip. Because every EMV chip card is essentially a small, secure computer, EMV cards are nearly impossible to counterfeit.

9/4/2014 -- Corporate One’s July 2014 unaudited monthly financials are now available. View the July Unaudited Financials.

9/4/2014 -- Corporate One’s Second Quarter 2014 unaudited financials and June 5310 report are now available. View the Second Quarter Unaudited Financials and June 5310 report.

First in a three-part series covering hot button, risk-related issues facing credit unions

8/26/2014 -- Keeping members informed of industry practices that can put your credit union at risk is important to us at Corporate One. For that reason, we are introducing a three-part risk series in Solutions covering BSA/AML hot button issues such as money services businesses (MSBs), cross-border activity and third-party payment processors. This month we’re exploring MSBs, what they are and the risks they present to your credit union.

8/21/2014 -- Corporate One Federal Credit Union has signed a five-year renewal agreement with PSCU for credit and debit processing services. The CUSO provides payment processing and support services to 70 Corporate One credit unions representing approximately 130,000 members. As a result of the partnership that began in 2009, Corporate One members utilizing the debit card program show an overall increase in cardholder growth of 12 percent and a 45 percent increase in combined signature and PIN transactions. Read Press Release ►

8/20/2014 -- No need to sound the alarm bells and no need to panic, but it is time to be prepared for the need for liquidity; and that means having a written plan. We at Corporate One have found an excellent reference provided by all the federal banking agencies who have issued guidance to provide sound practices for both managing funding and liquidity risk and for strengthening liquidity risk management practices.

8/15/2014 -- To better serve its partner credit unions and credit union borrowers, and to allow for future growth, Member Business Solutions, a credit union service organization owned by Corporate One, has decided to use nCino’s Bank Operating System – an automated workflow and decisioning application. This system helps borrowers receive loans faster through smarter decisioning, and offers partners a clearer view of loan production and a more thorough understanding of borrowers. Read Press Release ►

7/1/2014 -- Corporate One’s May 2014 unaudited monthly financials are now available. View the May Unaudited Financials.

Enrollment opened August 1

8/12/2014 -- Corporate One, along with its Cards Solutions partner PSCU, is pleased to announce enrollment for the 2014 Fall Usage Campaign opened on August 1, 2014. If you’re a user of Corporate One’s debit cards solution hopefully you have taken advantage of one of our debit card growth campaigns. If you haven’t, you are missing out on a tremendous marketing opportunity.

Start offering Smart Option Student Loans to your members; updated Web content available for participants

7/22/2014 -- May through September is peak student loan time. With the fall semester just around the corner, students will be applying for loans to help fund their college education. If your credit union is not currently offering a student loan option, then what better time than now to consider the Sallie Mae Smart Option Student Loan program?

7/17/2014 -- It seems like a day hasn't gone by this month without a headline story highlighting a devastating tornado touching down somewhere in the Plains or Midwest. Earlier this year, we had members in the Florida Panhandle dramatically affected by flooding rains, and now many of those same members are gearing up for this year’s hurricane season.

Lower false positives, speeds up prevention

7/28/2014 -- Our risk management solutions are second to none. Corporate One leverages neural network technology to examine each real time, incoming authorization for potential fraudulent activity and to determine the likelihood of fraud. We are pleased to announce a new fraud detection tool called the DefenseEdge that will soon be available to our members via our partnership with PSCU.

7/9/2014 -- As a hard-hitting tornado season enters the wind-down phase, now enters hurricane season. The National Oceanic and Atmospheric Oceanic (NOAA) recently released its annual outlook on the 2014 Atlantic hurricane season, forecasting a near-normal or below-normal season. The main driver of this year’s outlook is the anticipated development of El Niño this summer.

New payments technology continues to evolve, but strong cards programs can thrive in competition

6/16/2014 -- The world of payments technology is constantly evolving. In the Cards Corner appearing in the March issue of Solutions, I discussed the new EMV chip cards that are set to replace the static magnetic strip cards in 2015.

6/9/2014 -- ACH rules have always required originated transactions to carry a settlement date in the future. This process has provided financial institutions the time to assess risk and anticipate funding needs, especially for those that allow businesses to originate transactions. It also provides a buffer for transactions to make their way through the ACH clearinghouses in time to post to consumer accounts by the morning of the effective date, as in the case of payroll deposits.

Recognized for leadership in the advancement of ACH among credit unions

6/2/2014 -- It brings me great pride to report Corporate One was honored by EPCOR, one of the nation’s leading payments associations, with the 2014 Marquis Award. This award is presented annually to an individual or organization that has demonstrated leadership in the implementation, advancement or awareness of ACH payments; or has exhibited long-standing support to the EPCOR mission.

Take advantage of Corporate One’s BSA/AML training on a live webinar May 28-29, 2014

5/13/2014 -- A culture of compliance is more than a set of policies and procedures. It is a cultural ethic that should function like any other process that reaches across an organization. It is a risk-intelligent framework that brings a sense of shared responsibility to all employees.

3/27/2014 -- Corporate One’s latest Quarterly Economic Update is now available in on-demand webinar or podcast formats, making it easy for you to tune-in whenever and from wherever is most convenient for you. View the webinar | Listen to the podcast

3/19/2014 -- Please save the date for Corporate One’s 2014 Annual Meeting, which is open to all Corporate One members. This year’s meeting will be held on April 9 from 1:30-2:00 P.M. ET in the George Bellows Ballroom at the Hilton Columbus, (OH) Downtown.

6/2/2014 -- Corporate One’s April 2014 unaudited monthly financials are now available. View the April Unaudited Financials.

New! CURewards Mobile App now available

5/22/2014 -- Card rewards programs provide an excellent return on investment. Consumers today expect a rewards program as a value-added feature on their payment card accounts. Offering a rewards program that actually exceeds expectations is one more way your credit union can attract prospects and build stronger long-term relationships with members.

5/13/2014 -- Corporate One’s First Quarter 2014 unaudited financials and March 5310 report are now available. View the First Quarter Unaudited Financials and March 5310 report.

4/1/2014 -- Corporate One’s February 2014 unaudited monthly financials are now available. View the February Unaudited Financials.

Watch our annual meeting presentation and report video

5/8/2014 -- Last month, Corporate One held its annual meeting where we reviewed our achievements for 2013 and shared our vision for the future. Our annual meeting is an exciting time for many reasons. First and foremost, it’s a great time to see so many friends and to catch up and hear about successes at our members’ credit unions. Secondly, our annual meeting is when we release our annual report.

Total credit union share certificate issuance topped $678 million in 2013

4/22/2014 -- Recently, the National Credit Union Administration (NCUA) issued a final rule requiring board-approved liquidity plans for all credit unions; contingency funding plans for most credit unions; and, a federal liquidity source for the largest credit unions.

Join us on May 21 in Columbus, OH for a complimentary EMV workshop

4/16/2014 -- The world of payments is evolving. We are finally starting to see an evolution from typical static magnetic stripes cards to more intelligent devices such as EMV chip cards and NFC (Near Field Communication) mobile phones.

UPDATED 4/4/2014 --  Corporate One today released its 2013 Annual Report, complete with the Management's Discussion and Analysis as well as the audited financials and footnotes. Thanks to the continued support of members nationwide, Corporate One recorded $4.7 million in net income in 2013, for a total regulatory capital position of $289.2 million as of Dec. 31, 2013.

3/19/2014 -- Lee Butke, president/CEO of Corporate One FCU, was elected as treasurer of the National Credit Union Foundation (NCUF) Board of Directors at NCUF's board meeting held on December, 18, 2013, effective as of January 1, 2014.

3/11/2014 -- Corporate One’s Card Solutions for both debit and credit reflects our commitment to providing credit unions solutions that spur revenue growth and enable credit unions to better serve their members and boost membership. Plus, we offer a couple of perks not found with other providers.

3/4/2014 -- Managing a credit union’s balance sheet has rarely been more challenging. The combination of the historic low rate environment and the increased regulatory load has significantly modified the way in which credit unions fund themselves, and in turn deploy their funds into loans and investments.

2/28/2014 -- Corporate One’s January 2014 unaudited monthly financials are now available. View the January Unaudited Financials.

2/28/2014 -- Corporate One’s Fourth Quarter 2013 unaudited financials and December 5310 report are now available. View the Fourth Quarter Unaudited Financials and December 5310 report.

12/24/2013 -- Corporate One’s latest Quarterly Economic Update is now available in on-demand webinar or podcast formats, making it easy for you to tune-in whenever and from wherever is most convenient for you. View the webinar | Listen to the podcast