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In This Issue |
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Note from the CEO |
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 Feature Article
Fed to Markets: We’ll Keep Interest Rates Down; Economy Needs Fiscal Reform
By: Bob Post, VP, CIO
 On Tuesday, August 9th the Federal Reserve sent an unexpected message to the markets: We'll keep the fed target low providing certainty to the markets. With investors anticipating a strong central bank reaction to a brutal August, the Fed instead noted the weak economy but said virtually nothing about the markets — no quantitative easing, no yield curve flattening, no Troubled Asset Relief Program or any facsimile thereof. READ MORE + |
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ACH Compliance Webinar Live this Month
Each year, the National Automated Clearing House Association (NACHA) revises its rules and regulations regarding participant financial institutions. To make understanding these changes even easier, Corporate One has developed a complimentary ACH Webinar for our members. The webinar addresses five major rule revisions, including key components, date, and impact they have on credit unions and their members. READ MORE + |
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Member Service Online Support Link Added/Member Service Hours Extended
Striving to improve our members’ support experience with Corporate One, we have recently incorporated a new ‘Member Service Support’ tool on our website to facilitate and promote efficiency within the Member Services center. The new link can be located on the homepage horizontal tab by first clicking ‘About Us’ then ‘Contact Us’ in the drop-down menu. Members that wish to utilize this new feature will receive support within one business day of their request. READ MORE + |
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Sallie Mae® Rolling Out New Marketing Portals
As you may know, Corporate One built a turnkey partnership with Sallie Mae over a year ago concentrating on the Smart Option Student Loan® program. Participant credit unions benefit when their members obtain a loan through Sallie Mae, earning them fee income with no start up costs or portfolio risks, as loans are underwritten, funded and service by Sallie Mae. Credit unions only need to incorporate a link from Sallie Mae on their website promoting and further detailing the Smart Option Student Loan®.
Now, to help marketing the program to members even easier, Sallie Mae rolled out new online marketing portals for each participating Corporate One member. Credit unions are now able to easily order their own co-branded brochures, posters and other marketing material with a click of a mouse. READ MORE + |
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Changes to Savings Bond Redemption Process
U.S. Department of Treasury’s EZ Clear program
The U.S. Department of Treasury holds a division of the Federal Reserve Bank known as EZ Clear, a program serving as a central processor for U.S. Savings Bond and Note redemption. As a preferred, cost-efficient alternative for savings bond redemption, Corporate One recommends considering EZ Clear to process your members’ bonds.
Financial institutions enrolled in the program are eligible to receive up to $.30 commission for each bond instead of paying to process redeemed items. Deposit information is entered online and a bar code cash letter form is generated to accompany the physical deposit. The Pittsburgh Branch of the FRB of Cleveland is the designated processing site for redeemed savings bonds processed through EZ Clear. READ MORE + |
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Highly Anticipated Durbin Amendment Regulations Set to Implement by FRB
On June 29th, 2011, The Federal Reserve Board (FRB) released the final regulations implementing Section 1075 (the Durbin amendment) of the Dodd-Frank Wall Street Reform Act. Established regulation standards involve debit card interchange fees the banning of network exclusivity. Those working with debit card guidelines within your credit union should take note of these regulations and the effective deadline set to take place. READ MORE + |
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KEY RATES
as of 8/31/11 |
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Prime
One-Month LIBOR
1Y Treasury Bills
Fed Target Rate
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3.25%
0.22%
0.09%
0-0.25% |
| Fed Funds Plus Average |
Partners
Associate |
0.24%
0.11%
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CORPORATE ONE
Unaudited July
Financial Statements |
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VIEW
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MARKET COMMENTARY
for the month of Aug 2011 |
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Between an earthquake registering 5.8 in Virginia and Hurricane Irene barreling up the east coast, there certainly were enough shocks to fill headlines this week. And not surprisingly, folks in those respective areas responded with their usual resilience, dealing with the disturbances as best they can and getting on with their lives.
+ READ MORE |
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