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In This Issue |
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Note from the CEO |
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 Dear Members:
As I discussed last month, the new regulations for corporate credit unions (NCUA Rules and Regulations, Part 704) were released in September, and have now been officially entered into the Federal Register. While the final product was largely what was expected, we were very pleased with the response from the NCUA to the many comment letters, and discussions with, credit unions and corporates as they crafted a long-term map for the future. READ MORE + |
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 Feature Article
Investing under the Reg. 704
By Tammy Cantrell, SVP/ALM
On October 20, 2010, the NCUA officially posted new Rules and Regulation Part 704 into the Federal Register to provide credit unions with greater protection of corporate credit union capital investments. The NCUA has stated several times since the start of the financial crisis in August 2007, that too little capital, too much leverage and a high concentration in risky assets were the predominate demise of the conserved corporates. READ MORE + |
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 Product News |
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Corporate One receives 100th contract for Sallie Mae Smart Option Student Loan Program®
Corporate One Federal Credit Union recently received receipt of its 100th contract from Jeep Country Federal Credit Union (Holland, OH) for the Smart Option Student Loan program that it began offering through Sallie Mae in June. The Sallie Mae Smart Option Student Loan program is a financial institution referral program that allows credit unions to earn fee income when their members receive a loan funded by Sallie Mae. READ MORE + |
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Now is a great time to promote student loan offerings
Winter semester brings mid-year student loan surge
Most student lenders ramp up outreach efforts during the spring and summer, when college-bound students and their families are at the height of seeking financing for the next school year. While not as busy as the summer season, interest increases again during December, as this is when many students and families again focus on trying to fill in funding gaps and/or start the school year during winter semester. READ MORE + |
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Important Reminder: Access to ACH system changing tomorrow, Oct. 30
Change includes select employee group ACH processors
This is a reminder that access to ACH will change, beginning tomorrow, October 30. As recently communicated to credit unions on our ACH solution, specifically APEX Administrators, we are enhancing the security around our ACH system with the implementation of a Virtual Private Network (VPN). READ MORE + |
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Usage of new domestic wire PINs begins on Monday, Nov. 1
PIN acknowledgement forms must be returned before new PINs can be activated
Reminder for all domestic wire users: don’t forget to use your new PIN beginning Monday, Nov. 1. Corporate One issued its annual domestic wire PIN mailing to CEOs at respective member credit unions using domestic wires in early September. READ MORE + |
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| Industry News |
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New study highlights significant increase in identity theft-related SARs
To coincide with National Protect Your Identity Week earlier this month, the Financial Crimes Enforcement Network (FinCEN) released a major report on identity theft-related Suspicious Activity Reports (SARs), entitled Identity Theft: Trends, Patterns, and Typologies Reported in Suspicious Activity Reports. READ MORE + |
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TRAINING CERTIFICATION PROGRAM
Fall Promotion |
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NEW MEMBERS
joining Corporate One
in October |
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Best Advantage CU
Brillion, WI
ECCO CU
Pace, FL
EWEB EFCU
Eugene, OR |
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KEY RATES
as of 10/29/10 |
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Prime
One-Month LIBOR
1Y Treasury Bills
Fed Target Rate
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3.25%
0.25%
0.21%
0-0.25% |
| Fed Funds Plus Average |
Partners
Associate |
0.19%
0.11% |
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CORPORATE ONE
Unaudited September
Financial Statements |
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VIEW |
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MARKET COMMENTARY
for the month of October |
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| When the U.S. fitfully pulled out of the Great Recession a little over a year ago, most economists did not have high expectations for the recovery. To be sure, some did expect a V-shaped upturn, based on the time-honored notion that vigorous recoveries typically followed harsh recessions in the past. But those optimists were in the minority... + READ MORE |
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Upcoming Events
Corporate One will be hosting Town Hall Meetings beginning in January 2011. Stay tuned for details on times and locations.
Corporate One will be closed Thursday, November 11th in observance of Veterans' Day and Thursday, November 25th in observance of Thanksgiving Day. |
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