Conference 7.286::dcu

Two questions -

1) I must admit I skimmed the notes quickly so if this was covered
   and I missed it, please direct me back there for more detailed
   reading -
       How goes the search for a new CEO? Are we permitted to know
	the level of activity there? (As in, how many applicants
	under consideration?)

2) Assuming the ATM's being removed from Marlboro and MK2 already
   belong to DCU, is any thought being given to relocating them?
   Many ex-DECcies I speak with who are still DCU members would
   give their eye teeth to have more ATM's available for their
   use. If we take these two away completely rather than relocating
   them we're only making the problem worse.

>> f.  Electronic Delivery System Enhancements

Hold on to your hats, folks!  Did everyone _SEE_ this?  I had hoped for these
things for so long, but never dreamed DCU would be so progressive!  A web page,
with *real* information on it?  Useful FAX access?  Apply for loans by phone?
Access from a home computer?

I love it.

Bring it on.

:-)

Elaine

>> Information Center - Management decided not to expand Information Center
>> hours as the total number of calls drastically drops after 4:00 p.m. and 80%
>> of DCU's members live in the Eastern time zone.

I'd like to know what people think of this.

Elaine

re: "going forward"

From now on, the Board will be getting more information, consistently, each
month.  I have noticed that since the last election, more consistent information
is making it into the board minutes that we see, and I'm happy to see it.  If
we can track progress, we can keep the Board on their toes.  If the Board has
more and better information, they can do their jobs better.

Elaine

>> A sampling showed the vast majority of checks deposited in June of 1994
>> required no hold (97.45% personal and 99.77% business).

This sounds like good news in two ways: First, that checks are not being held
much, and also that management and the Board are thinking about policies that
affect members' wallets.

Elaine

>> g.  Pricing
>>
>> Mr. Garner reviewed management's recommended changes to DCU's current pricing
>> structure:

I like the removal of these petty fees.  Something was redacted.  I imagine it
was the vote and discussion.  I vote for the proposed pricing (as if I get a
vote), with both hands.

In fact, lots of redacted stuff this month.  In the past, the X's have been
hiding bad news, tricks, and game-playing.  I hope we will find out that this
time they are saving good news, perhaps for a formal announcement.

Elaine

>> f.  Electronic Delivery System Enhancements

>Hold on to your hats, folks!  Did everyone _SEE_ this?  I had hoped for these
>things for so long, but never dreamed DCU would be so progressive!  A web page,
>with *real* information on it?  Useful FAX access?  Apply for loans by phone?
>Access from a home computer?

It's a start, but it's not what the membership asked for. Not even close.

Chris

    
    
    Elaine,  previous candidates ran on open honest commjunications.  It
    seems like the only honesty has been from the old board that didn't 
    communicate.  How do you stand on redacting minutes when it does not
    involve personal or lawyer/client matters, or votes?
    we seem to keep electing BOD that ignors us after they are in office.
    
    
    also, if you are elected, are you going to represent us as you feel
    we should be or will you attempt to poll us on major issues to see
    how we feel?  And if the poll varies from how you would vote, how
    would you vote?
    ed
    

    RE: .3
    
    Since you asked....
    
    I may not fit the statistics, but whenever I need to call the
    Information Center (and speak to a person) it is usually after dinner,
    many times around 7:30 P.M.
    
    I now reside in the Eastern time zone, but prior to a year ago, I lived
    in the Chicago area for 3 years. I used the Information Center out
    there also, again usually after I got home from work.
    
    My hope is, and I didn't see it mentioned, is that they don't reduce
    the hours of the Information Center. 
    
    my .02
    
    Kevin

> At 6:00 p.m., the Board took a 5-minute dinner break

    re: <<< Note 929.7 by BUELL::dehahn "Buell American Motorcycles" >>>
    
    Chris -
    
    Are you saying this is a bad move?  That it is not progress in the
    right direction?  Please explain.
    
    Elaine

    
>    Are you saying this is a bad move?  That it is not progress in the
>    right direction?  Please explain.

No, I'm not saying that it's a bad move. It is a move in the right direction.
However I am not as overjoyed as you are about this announcement, because it
didn't deliver what I've seen as what customers were really asking for based
on comments here.

People want electronic banking. The ability to check balances online, to make
transfers online, to hook into Quicken and other such databases online. This
Web page is little more than a way for DCU to advertise it's services on a 
fancy Web page. I don't see much more substance than that. Please correct me 
if I'm mistaken.

It's a start. It shows awareness. The next step will be much harder.

Chris

re .13

Home Banking is mentioned in that section.  It doesn't give a date, but it does
mention a (potential) vendor, and another CU that they plan to consult with
before implementing it.  I see this as a desire to provide the service, yet
exercising reasonable caution.

Rich

I was pretty excited when I saw the Home Banking and apply for a loan by
phone mentioned.  I used to like the Pay-By-Phone service that DCU
offered (free!) for a brief period.  I now use CheckFree through Quicken
but it costs ~$10/month.  If DCU offered something that was cheaper
and at least as convenient, I'd switch.

Regarding the information center hours -- I hardly ever call them,
but when I do it's been during business hours (usually lunch).
I don't think that will affect me.  And I'm an East Coaster.

- Deb B.

	I'd be happy paying Checkfree and just getting Quicken and the
	DCU to talk together to keep my checkbook balanced for me.
	I hate entering in info into Quicken.

							mike

Regarding the Info center hours - my wife relies on being able to call the
center to get a check "cut" from her savings account and mailed to her, she
can't call from work and doesn't get home till after 7PM (Eastern).  I too
would not want the hours reduced.  I would think that 8-8 Eastern would allow
west-coasters to call before work (as early as 5AM) if need be.

				Steve

    you can do a check cut from easytouch, can't you?
    ed
    

    I plucked these out of the minutes because I found them interesting.
    It seems that we are winning the race to raise the capital ratio.
    It's being done by the (from my viewpoint - dramatic) drop in savings
    which is what I believe was the goal so we could raise the capital
    ratio. Now that the captial ratio is approaching Nirvana, the flags are
    going up about our liquidity. Is this really a surprise? This is why it
    never made sense to me for us to try to raise the capital ratio. $23
    million in outflow over the last six months! If Chuck were still here,
    he'd be ecstatic!
    
    Am I missing something here? (Quite possible!!)
    
    ...
Total savings for the month declined $12.5 million.  Shares, money market,
and checking accounts declined a combined $16.1 million, with the largest
portion attributed to checking ($9.6 million).  Certificate balances continue
to grow ($4.0 million), now at a 196% annualized rate.

Based upon the increase in loans and decline in deposits, the credit union's
liquidity position has tightened.  Management will continue to monitor this
on an ongoing basis.
...
With assets of $334,453 million as of January 31st, the capital ratio has
increased to 8.73%.

...
Mike Riley of Callahan & Associates gave the committee an economic overview
of the financial industry.  He indicated that DCU is not alone in its reduced
liquidity and increased loan demand situation.  He reviewed cash flows and
noted a $23 million outflow at DCU over the past 6 months.  The committee
reviewed options to improve liquidity and came to the consensus that stemming
the outflow of deposits is the cheapest alternative.  The committee then
reviewed management's recommendations on deposit rate increases and loan rate
increases as well as the impact these changes would have on the budget.

Re: .18

Yes, you can, but my wife prefers to speak to a human who will acknowledge
the transaction.  (Not that the humans have been 100% reliable either).
If it were me, I'd accept the EasyTouch solution, but it's not me...

				Steve

re .1:

>       How goes the search for a new CEO? Are we permitted to know
>	the level of activity there? (As in, how many applicants
>	under consideration?)

The minutes show an executive session dealing with this issue, with
20 redacted lines.  I don't really expect that any of this stuff will 
make it into the public minutes, nor do I think that would be a good 
idea.  Even as an SC member I haven't been priviledged to hear all of it.

>  Assuming the ATM's being removed from Marlboro and MK2 already
>  belong to DCU, is any thought being given to relocating them?
>   Many ex-DECcies I speak with who are still DCU members would
>   give their eye teeth to have more ATM's available for their use.

Decisions about where to remove ATMs are separate from decisions about
where to install them.  If there are specific places where you would
like to see an ATM, please contact a Board member and suggest that
the DCU look into it.  


re .11: 
>                        -< Must have been quite a meal! >-

> > At 6:00 p.m., the Board took a 5-minute dinner break

I believe this was the meeting where we brought our food back to the
meeting, rather than eating and then going back to the meeting.
I forget if this was done to get more business covered or to
accomodate someone who was teleconferencing in.  

	Regards,
	Larry