Archive

In This Issue:

  1. Top Story
  2. Market Update
  3. Investment Services
  4. Payment Systems
  5. Member Center Update
  6. WesCorp News
  7. Upcoming Events
  8. Product/Service Spotlight

Top Story

2009 Forecast: After the dust settles -- Part Two

I’ve been traveling a lot around the country these past few weeks speaking to the boards at credit unions and credit union conferences. There is a growing unease about how this financial turmoil will affect the future of the credit union industry. Several credit union officers and board members expressed the fear that the end game will be to make credit unions taxable and part of the banking system. Those fears are not without substance and I understand the level of concern. But I have a different take on the long-term role for credit unions.
Read More…

Market Update with Dwight Johnston

Money for Nothing?

In last month’s edition of Words from WesCorp, I cited Bernanke as being on record that he fears deflation much more than inflation. In years past, he has said that a fed funds rate near zero and other “quantitative” moves might be required to ward off an extended bout of deflation. This month, Bernanke stepped closer to making his “theoretical” moves reality. In a speech on December 1, Bernanke said the economy would remain weak for some time. He stated the obvious. The Fed doesn’t have much more room to cut the fed funds rate, but there are 100 basis points between 1 percent and 0 percent to play with. He also alerted the market to the thought the Fed might also purchase U.S. treasuries and agencies to pump more money into the system. That would accomplish the purpose of pumping more money into the system, but it fails to address the real problem—credit spreads.
Read More…

Investment Services

Third Quarter 2008 Portfolio Update Now Available

Click here for an in-depth look at WesCorp's Third Quarter 2008 Investment Portfolio.

October Financials

Through ten months of 2008, WesCorp continues to record strong earnings that exceed planned levels. WesCorp’s net income for the ten months of 2008 totaled $48.6 million. For the month ended October 31, an overall increase to retained earnings was recorded amounting to $7.4 million, comprised of net interest income of $13.4 million (which includes $78.8 thousand of gain on financial assts) and other operating income of $2.8 million offset by other operating expenses of $8.4 million and PIC dividends of $.4 million. This was $3.2 million above budgeted levels.  
Read More…

Payment Systems

Ring in the New Year With Lowered Expenses With ARC Lockbox Services

Accounts Receivable Conversion (ARC) is a process where retail lockbox paper checks are converted into ACH for electronic clearing. If you have consumer loan payments mailed to a central office for manual processing, then you could be losing critical time on your funds availability and ongoing staff support.
Read More…

Save 20 Percent Off Start-Up Fees for Purchasing Card Program

Take advantage of an efficiency building purchasing card and technology program that delivers an unprecedented level of control and workflow automation--tailored for your purchasing policies and business rules.
Read More…

Member Center Update

More and More Credit Unions Are Using the Member Center

As 2008 draws to a close, the Member Center celebrates an extremely successful first year of service as your free WesCorp online interface and information source. A host of new features and tools have been added and the popularity of the “optional” content in the Executive and Invest views is soaring.
Read More…

WesCorp News

WesCorp Announces 2009 Webcast Series on Leadership

How would you like to sit down one-on-one with some of the most influential CEOs in the credit union industry? What insights could you gain to further your career, prepare for challenges ahead, or more effectively manage your organization? WesCorp announces the launch of The CEO Leadership Table, a monthly, web-based, 30-minute educational series that will look at the key leadership principles and practices of today’s key credit union leaders.
Read More…

Miss a Webcast in 2008?

All of WesCorp’s complimentary webcasts dating back to 2007 have been archived on our Web site and are now available for viewing.
Read More…

2009 Holiday Schedule

The Federal Reserve has announced its holiday schedule for 2009. WesCorp will follow the same schedule as shown…
Read More…

Upcoming Events

See entire schedule…

Product/Service Spotlight

Loan Participations

Looking for immediate liquidity to fund ongoing loan demand? Do you need a source of additional loan assets to enhance the yield of your retained loan portfolio?
Read More…

Back to Top