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

InsideRISK Awards: Recognizing Credit Union Best Practices

At WesCorp’s Credit Union Outlook conference in Las Vegas, more than 400 credit union professionals gathered together on the final day to honor the InsideRISK Award recipients. With so many excellent applicants, this year’s selection process was extremely difficult. The InsideRISK Awards are sponsored by the editorial board of the InsideRISK magazine. This year awards were presented to two credit unions that developed innovative processes that represent best practices within the industry.
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Market Update with Dwight Johnston

Breaking The Endless Cycle

From the stock market’s perspective, January did not provide a very good kickoff to 2009. Equity traders came into the New Year with expectations that the market would trade higher in anticipation of the new fiscal stimulus program. But the relentless drumbeat of negative news about the banking industry undermined all attempts to generate optimism from presumed benefits coming from a stimulus plan. The fiscal stimulus program is still being debated in Congress, but some version of the plan is likely to be signed in February.
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Investment Services

December 2008 Financials

WesCorp’s net income for the year of 2008 totaled $57.8 million. On a year-to-date basis, WesCorp’s increase to retained earnings is $50.6 million, which is well ahead of budgeted amounts. For the month ended December 31, retained earnings declined by $2.6 million. Several factors contributed to the overall decline for the month, which include lower than expected net spreads for the month, guarantee fees of nearly $800 thousand incurred as a result of participation in the NCUA guaranteed borrowing program.
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Payment Systems

Calling WesCorp Just Got Easier

You now have the opportunity when calling WesCorp’s Member Call Center to quickly reach the expert who specializes in your particular area of need.
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Purchase One Increased Growth in 2008—yes, growth!

Purchasing cards can be a welcomed tonic in tough times as evidenced by the growth of credit unions using Purchase One in 2008. This proven solution can improve your credit union’s control of cash, reduce costs and improve efficiencies—goals that are especially important in these turbulent times.
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Member Center Update

Reading, ‘Riting, Risk Management

The Member Center offers a variety of education for credit unions and their boards---opinions, news, resources, training you can rely on.
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WesCorp News

Celebrating 40 Years of Serving Member Credit Unions

Mark your calendars today to attend WesCorp’s premier educational showcase on May 18–21—the 2009 Annual Meeting & Future Forum. The event will be held at Disneyland’s Grand Californian Hotel in Anaheim, Calif. As the financial services landscape becomes increasingly competitive, the need for credit unions to distinguish themselves from other providers—not just banks—becomes paramount.
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Operation Best Wishes completes fifth national tour of cooperative venture

Operation Best Wishes, the annual holiday program that sees military families tap the webcast resources of Overland Studios to send special Web greetings to their deployed loved ones, completed its fifth national tour on Tuesday, December 30, courtesy of Visterra Credit Union. The Moreno Valley, Calif.-based financial cooperative was the final stop among 12 military-affiliated credit unions located throughout the country that hosted the award-winning program through the holidays.
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Jones Joins WesCorp as New Vice President, Internal Audit

Shemika Jones is the newest member of WesCorp's executive staff, joining in January as the Vice President of Internal Audit. Jones comes to us with a wide range of experience from auditing and operational risk management to corporate policy and procedure management.
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March Conference Set for Hawaii

Join us on March 17-19 for the credit union industry’s premier educational event in Hawaii—the 2009 Financial Strategies Conference.
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Upcoming Events

See entire schedule…

Product/Service Spotlight

SimpliCD

Investing in federally insured CDs has never been so simple. SimpliCD (pronounced "simplicity") is a certificate of deposit program that enables you to easily invest substantial funds in federally insured CDs. This turnkey program combines the security of CD investing with the advantages of competitive rates and consolidated reporting.
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