Traveling to Pittsburgh later this week? If you will be in town and attending the Pennsylvania Credit Union Association Annual Convention, taking place at the Westin Convention center/David L. Lawrence Convention Center in Pittsburgh, PA from May 1-3, 2008, please stop by to meet us! Rob Rutkowski, Dawn Pagon, and Bill Molczan and Ben Bibler (attorneys from our Pittsburgh office) will be attending this event. Rob will be presenting a seminar entitled “Prepare for the Worst: Disaster Recovery Planning” on Saturday, May 3. We hope you will visit us at this event!
For more information on the PCUA Convention, please visit: http://www.pacreditunions.com/Convention/convhome.html
Filed under: OCUS, credit unions, marketing, pictures, vendors | Tags: convention, credit unions, OCUS, Ohio
I can’t believe that a year has gone by since the last OCUS convention. Just like last year, I have some pictures to share with you.
Again I cannot say enough about the value that OCUS gives to Ohio credit unions. It is a privilege to work with OCUS throughout the year and is a real pleasure to exhibit at their convention. Special thanks this year to my karaoke partner, Valerie Edgington, at the Corporate One Credit Union party.
Filed under: Truth in Savings Act, accounts, compliance, credit unions | Tags: "certificate of deposit", "credit union", compliance, Truth in Savings Act
If you Google “credit union” and “CD” you just might find some federal credit unions advertising certificates of deposit. This would be a problem. Take a look at Part 707 of the NCUA rules and regulations. In this regulation, the NCUA adopted the Truth in Savings Act. In 707.2(a)5v, the NCUA makes it very clear that credit unions should not describe share accounts as deposit accounts:
“However, under no circumstances may a credit union describe a share account as a deposit account, or vice versa. For example, the term ‘certificate of deposit’ or ‘CD’ may not be used to describe share certificates and other dividend bearing term share accounts. Similarly, the terms ‘time account’… and ‘time deposit’… may not be used to describe term share accounts.”
This applies to most state credit unions as well. If you are a state chartered credit union and your state laws allow you to take “deposits” then you may well be able to use the “CD” moniker. Georgia may be one example. If you are a federal credit union, you are out of luck. You are also out of compliance if you are using the term “CD” to describe accounts at the credit union in advertising, agreements, disclosures or what have you.
This is one of those areas where I have seen confusion, if not noncompliance, across the country. The reasoning behind this rule is the nature of the term share account. A share account is not a deposit account from the NCUA’s perspective. So what do we call dividend bearing term share accounts? The NCUA permits “share certificates”, “certificate account” or “certificate.”
Conference season is in full swing and the members of WWR’s Credit Union department will be exhibiting at various regional conventions. First is the Ohio Credit Union System’s Zenith ‘08 Convention at the Greater Columbus Convention Center in Columbus, OH, taking place from April 24-25. Rob Rutkowski (Credit Union Partner), Dawn Pagon (Credit Union Liaison) and John Porter (Credit Union Associate) will be manning WWR’s booth at this event- we do hope you will stop by and say hello!
For more information on the OCUS Convention, please visit: http://www.ohiocul.org/Zenith08.htm
Next stop is the Pennsylvania Credit Union Association Annual Convention, taking place at the Westin Convention center/David L. Lawrence Convention Center in Pittsburgh, PA from May 1-3, 2008. Rob Rutkowski, Dawn Pagon, and Bill Molczan and Ben Bibler (attorneys from our Pittsburgh office) will be attending this event. Rob will even be presenting a seminar entitled “Prepare for the Worst: Disaster Recovery Planning” on Saturday, May 3. We hope you will visit us at this event!
For more information on the PCUA Convention, please visit: http://www.pacreditunions.com/Convention/convhome.html
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Credit Union Liaison
SUMMARY
Under direction, the Business Development Representative identifies potential clients and new marketing opportunities, sells firm services, and services existing clients by performing the following duties.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
· Develops list of prospective clients through networking referrals, business associations and directories, and trade show follow-up.
· Contacts prospective clients to present information and explain available services.
· Works with firm attorneys to identify new markets and performs research to determine potential feasibility/need of services.
· Maintains positive relationships with existing clients.
· Reviews orders for ideas to expand services available to current clients.
· Monitors files to ensure accounts are serviced in accordance with client expectations.
· Confers with clients and firm representatives to resolve complaints.
· Identifies opportunities to enhance firm visibility through speaking engagements and attendance at community events and functions.
DESIRED EXPERIENCE AND SKILLS:
Bachelor’s degree (B. A.) from a 4 year college or university in marketing, communications, or a related field and a minimum of 1 year relevant experience or an equivalent combination of education, training, and experience. Knowledge of marketing principles and methods, principles and processes for providing customer service, including customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction; computer operation and word processing, spreadsheet, and database software; ability to present a positive image to the public.
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