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

CU Outlook: The Road Ahead for 2009 and Beyond

Credit Union Outlook, WesCorp’s annual Fall classic devoted to discussing financial markets and balance sheet management, drew a record audience of more than 400 credit union CEOs, CFOs and officers to the Wynn Resort in Las Vegas. The popular four-day conference presented a showcase of nationally renowned speakers, an assortment of experts from WesCorp and RSM McGladrey, and the return of the popular Stock Market Challenge.
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Market Update with Dwight Johnston

9.0 Earthquake in the Financial Sector!

In one short month, the financial landscape has completely changed. The Bear Stearns rescue, the problems with bond insurers, and various huge writedown shocks proved just to be some warning tremors for what came in September.
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Investment Services

August Financials Exceed Planned Levels

On a cumulative basis, through the first eight months of 2008, WesCorp continues to record strong earnings well exceeding planned levels. For the month ended August 31, an overall increase to retained earnings was recorded amounting to $5.3 million, comprised of net interest income of $10.6 million (which includes $376.1 thousand of gain on financial assets) and other operating income of $2.5 million offset by other operating expenses of $7.2 million and PIC dividends of $.6 million.
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Payment Systems

NACHA Updates Policy on Direct Access

NACHA's Board of Directors recently approved a Policy Statement on Direct Access that requires Originating Depository Financial Institutions (ODFIs) to register either:
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Member Center Update

Member Center Celebrates One Year

October 15 marks one year since the Member Center began operation as the online portal of choice for WesCorp’s members. During that first year, the Member Center has proved itself to be hugely popular: More than 40 percent of WesCorp’s member credit unions (comprising 800 individuals) are using the Member Center’s Executive or Investor content. 99 percent of WesCorp member credit unions (comprising 15,000 individuals) have access to WAVE on the Member Center.
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WesCorp News

Financial Analysis reviews first six months of 2008

NCUA Regulation, Part 703, requires credit unions to conduct due diligence on their corporate credit union. WesCorp’s 2008 Financial Analysis, which covers the period from January 1 to June 30, provides the information you need for making a detailed assessment of WesCorp’s earnings performance, capital level and investment portfolio.
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Families rule in Operation Best Wishes

The 2008 U.S. tour of Operation Best Wishes (OBW) kicks off a few days before Halloween, marking the fifth consecutive year that the program will be offered to military families on behalf of America’s credit unions. Again this year, WesCorp will team up with the Defense Credit Union Council to produce the event and promote it among military personnel throughout the country.
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WesCorp Ranks 32nd on 2008 InformationWeek 500

InformationWeek magazine, a leading technology publication that covers innovations in the IT marketplace, recently ranked WesCorp 32nd on its 2008 InformationWeek 500.
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Upcoming Events

  • October 9: Market Review & Outlook Webcast
  • October 13: WesCorp offices will be closed in observance of Columbus Day
  • October 14: Beyond the Balance Sheet Webcast - Tapping The Power of Your Brand
  • October 16: International Credit Union Day
  • October 28: Breaking News Webcast - The latest rate announcement from the Fed
  • October 29: CU Essentials Webcast - How Lockbox Can Improve Your Bottomline
  • November 11: WesCorp offices will be closed in observance of Veterans Day
  • November 27: WesCorp offices will be closed in observance of Thanksgiving Day

See entire schedule…

 

Product/Service Spotlight

Investments (WesCorp Certificates)

Earn up to 20 basis points more than Agency securities---sometimes more. Example: How much more yield could a $1 million, 1-year certificate earn? An extra $1,500 - $2,000 in annual income!
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