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 In This Issue
Note from the CEO
Feature Article
Product News
Cards Corner
For Small Credit Unions
Industry News
Upcoming Events

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Looking back and looking forward

Dear Members:
Did you know the Roman god Janus, for whom the month of January is named, had two faces: one looking backward, and one looking forward? So in the spirit of Janus, let's take a look backward over the past year at Corporate One and a look forward to 2014. For starters, I'm proud to report 2013 has been another profitable year for Corporate One, with an estimated growth in Reserves and Undivided Earnings at more than $5 million. READ MORE +

Feature Article
 
Fed begins exiting bond market: Other changes ahead that could affect your credit union’s investment strategy
An overview of the Federal Open Market Committee’s December meeting

By: Bob Post, Chief Investment Officer

Bob PostWe finally received some direction in December regarding the Federal Open Market Committee’s (FOMC) timing for exiting the bond market. Next month it will reduce the $85 billion in monthly asset purchases by $10 billion, split equally between mortgage-backed securities and longer-term treasuries. This purchasing has kept mortgage rates artificially low and the yield curve flatter than normal. Still, adding $75 billion every month to the Treasury’s already bloated balance sheet will keep rate movement on the bunny slope. This move by the FOMC is likely the beginning of what many market forecasters believe will become the rule at future meetings, with tapering ending altogether by the end of 2014.  READ MORE +
Product News

Make sense of current economic conditions and how future trends could impact your credit union’s bottom line
Quarterly economic update webinar and podcast now available

Understanding the ever-changing trends in our complex economy is vital to the effective management of your credit union. To help you gain a greater understanding of current market conditions, Corporate One invites you to tune in to our 4th Quarter Economic Update, which is now available. READ MORE +


Three Simple Ways to Reduce Your Bond/Insurance Costs Webinar

With credit unions facing a historically low interest rate environment, the need to examine operating expenses is more important than ever. To help you gain a better understanding of Corporate One’s Insurance and Bond Services solution, and to learn about new ways to reduce expenses, we invite you to attend this complimentary webinar on Wed., Jan. 29, 2014 from 2:00-2:30 P.M. READ MORE +


Grow Your Loan Portfolio with Member Business Loans Webinar
Still time to register

MBS Corporate One’s credit union service organization (CUSO) Member Business Solutions (MBS) is hosting a complimentary webinar on Wed., Jan. 15, 2014, from 10:00-11:00 A.M. ET, for members interested in learning more about business lending. The webinar session will explore four different business models to grow a business loan program, which include referrals from branch managers, dedicated business development officers, shared business development officers between credit unions and participation loan purchase only. READ MORE +


Cards Corner

Safety tips for combating card fraud

Amy Macmullen Target Logo Credit card fraud takes place every day in a variety of ways, as recently acknowledged with the security breach at Target department stores. As you’re probably aware, credit and debit card data was compromised from approximately 40 million of their customers over a three-week period. With our senses heightened by this unfortunate event at Target, I thought now was a perfect opportunity to share some card safety tips to help credit union staff and to share with your members on how to combat card fraud. READ MORE +


For Small Credit Unions

Grow revenue and member satisfaction with Corporate One Cards Solutions
Developed specifically to allow easy entry into a robust cards program
By: Amy MacMullen, Director of Card Services

Small CU icon Strengthening existing member relationships is key to success in today’s financial service market place. Research continues to show that members who are active credit card users utilize more credit union services, maintain higher deposit and loan balances, and generate more income than members without credit.
READ MORE +


Industry News

Corporate One’s annual ACH audit completed

Each year, all participants in the ACH network, including financial institutions, must complete an audit of their compliance with ACH rules and regulations. Per NACHA, as stated in Appendix Eight (Rules Compliance Audit Requirements) as an ACH services provider for credit unions, Corporate One Federal Credit Union is required to complete an annual compliance audit.  READ MORE +


Martin Luther King, Jr. Day holiday cash ordering reminder

January 20, 2014 icon Due to the Federal Reserve and Corporate One both being closed in observance of Martin Luther King, Jr. Day on Monday, January 20, 2014, you may need to change your cash ordering. To review the standard holiday cash service change announcement, visit the Federal Reserve’s Web site.
READ MORE +


Staff donations help make a merrier holiday for children in need

Columbus Tree Corporate One staff recently came together to help local children and families in Central Ohio and Northeast Florida have a merrier holiday season. Columbus staff participated in the Salvation Army Christmas Cheer Program. Tags with gift donation requests for boys and girls ages newborn to 18-years old were placed on the holiday tree in our lobby for employees to take. We proudly collected nearly 60 toys and gifts.  READ MORE +


Happy New Years

KEY RATES
as of 12/31/13

Prime
One-Month LIBOR
1Y Treasury Bills
Fed Target Rate


3.25%
0.16%
0.35%
0-0.25%

Fed Funds Plus Average
Partners
Associate

0.16%
0.09%


CORPORATE ONE
November Unaudited
Financial Statements

Corporate One Financial Statements
VIEW

MARKET COMMENTARY
for the month of Jan. 2014
The U.S. economy is riding more momentum into 2014 than expected, an indication perhaps that the fifth year of the recovery will outperform the previous four. True, we have heard this story before, only to be disappointed by the final chapter. But as the calendar closes on 2013, the new year faces fewer growth obstacles than in recent years. At the start of 2013, the economy took an immediate blow from the hike in payroll taxes that hit struggling lower and middle-income earners especially hard. Shortly thereafter in March, the unfortunate sequester spending cuts took effect, reinforcing the fiscal drag that austerity measures imposed on the economy in 2011. In earlier years, the economy had to contend with a sovereign debt crisis, a debt-ceiling crisis and lingering credit restrictions, to name a few of the impediments hampering the recovery.

There are still some hurdles to overcome. Unless Congress increases the debt ceiling, the government will run out of borrowing authority sometime late in the first quarter. Given the polarization on Capitol Hill, there’s always a chance that intransigent legislators will be at loggerheads over this hot-button issue, threatening a debt default that would shatter confidence and disrupt the financial markets. But this is less of a threat than it was last year or in 2011 if only because of the public backlash spurred by past congressional transgressions. Indeed, the modest two-year budget deal passed in December, which averts another government shutdown, may well signal a nascent spirit of reconciliation that will carry over into the debt-ceiling debate. We’ll see. + READ MORE
Upcoming Events
 
  1/15/2014   10:00 AM ET
 
  1/29/2014   2:00 PM ET
 
  2/27/2014   2:00 PM ET
 
  4/23/2014   2:00 PM ET