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

WesCorp's Town Hall Kickoff Meeting

This year will be a challenging one for credit unions financially, and we have already heard from many members that their travel budgets have been reduced. Therefore, we have decided to cancel the education portion of this year's Future Forum and CFO Forum conferences and refund all registration fees.
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Market Update with Dwight Johnston

"Not Bad" Isn't Good Enough

The stock market rebound from the twelve-year lows recorded on March 9 has been sharp and quick. The rebound began with a "leaked" memo from Citibank that the first two months of earnings were "not bad." From there more banks reported "not bad" earnings for January-February, Wall Street deemed Geithner's latest plan to save the banks as "not bad," and FASB's ruling on mark-to-market accounting methods means that bank writedowns in the first quarter will be "not bad."
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Investment Services

Implications of the Homeowner Affordability and Stability Plan

The details of the Administration's Homeowner Affordability and Stability Plan were announced on March 4. Some of the details raise new questions and a few red flags, but we want to take a look at the general concept of the plan as a whole. Will this help, or is this just another in the long line of failed "solutions" to the housing problems? The plan consists of two parts.
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Payment Systems

Latest Update on International ACH Transactions (IAT)

In today's environment, international ACH transactions (IAT) are regularly introduced into the ACH Network by financial institutions using domestic standard entry class (SEC) codes, such as PPD or CCD. The RDFI is unable to identify these transactions as international items and, therefore, unable to perform adequate OFAC review. OFAC requested that NACHA add information to the ACH record to permit adequate scrutiny of transactions for OFAC compliance.
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Member Center Update

Convenience. Ease of Use. Access to Key Information. Explore the Member Center!

If you have the Executive or Invest view of the Member Center, you can find the WesCorp solutions used by your credit union conveniently listed -- and always identified by a red check mark. Just look on the right side of your Executive or Invest home page.
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WesCorp News

Member Moment: Pacific Advantage Federal Credit Union

"The Difference"-- When you call Pacific Advantage Federal Credit Union, you get a real person on the phone, and never an automated phone tree or voice mail. On occasion, Allan Ontai, President/CEO of the Burlingame, Calif. credit union, answers the phone and speaks to a member. He listens to the situation and has the unique ability to make a decision right then. Unlike a bank, there are no layers at Pacific Advantage.
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Online ALM Training Now Accessible at No Cost to Members

For years, WesCorp members have gained access to WesCorp's Internet-Based Training for Credit Unions: Asset/Liability Management at a reduced rate from Sheshunoff's standard pricing. As part of a continuing effort to add value for our members, we are pleased to announce that access to the training is now offered to all WesCorp members free of charge!
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Upcoming Events

See entire schedule…

Product/Service Spotlight

Credit Services

WesCorp provides an array of credit services to address your credit union's critical liquidity and asset/liability management needs. WesCorp's credit services offer safety and consistency, in spite of economic changes.
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