MIDDLETOWN, Pa. -- Mid-Atlantic Corporate Federal Credit Union members re-elected three incumbent board members at the corporate's June 19 annual meeting. Joan Moran, Department of Labor FCU, Washington; Michael P. Pastirik, United Community FCU, West Mifflin, Pa., and Connie Wheeler, CEO, Penn State FCU, State College, Pa., were re-elected and will serve three-year board terms.
Richard C. Burtnett of Pennsylvania Grange Federal Credit Union, Camp Hill, Pa., was elected chair. Pastirik was elected vice chair, Moran was elected treasurer and Brian J. Vittek, Destinations Credit Union, Baltimore, Md., was elected secretary.
Dennis Flickinger, First Capital Federal Credit Union, York, Pa., and James F. McCaw, Viriva Community Credit Union, Philadelphia, were both reappointed to the supervisory committee. Jerry King, DEXTSA Federal Credit Union, Wilmington, Del., was appointed to fill an open supervisory committee position.
CUNA Teller Survival Guide Updated
MADISON, Wis. -- The classic "Teller Survival Guide" video series from CUNA is now available on DVD.
The series-originally recorded on VHS in the early 1990s to help tellers with common credit union issues-was recently reformatted onto two DVDs.
"Teller Survival Guide Series: Disc 1" contains the following three titles:
"The Rookie" outlines skills, how to overcome five most common reactions of rookies, communication, responding to a line of members, and the differences between a credit union and a bank.
"Fine Tuning Your Skills" teaches 10 tips for professionalism, relationships with other departments, handling difficult situations and common policies and procedures.
"The Drive-Up Window" identifies tips for drive-up window professionalism, communication and handling common problems.
Disc 2 includes topics ranging from common scams and collusion and common balancing errors, which examines the basics of balancing a cash drawer as well as how to find and avoid making balancing errors. It also includes a section on robbery, providing employee steps and goals before, during and after a robbery.
Credit unions can purchase the DVDs separately or together as a kit.
Sales of New Single-Family Homes Drop
WASHINGTON -- Sales of new single-family homes fell 2.5% last month to a seasonally adjusted annual rate of 512,000--a 40.3% decline from May 2007, the Commerce Department reported last Wednesday.
Sales were weakest in the Northeast and West and better in the Midwest and South. Inventories of unsold homes grew to a 10.9 months' supply at the current sales pace from a 10.7 months' supply in April.
The inventory of new homes available for sale in May dropped 1.7% to 453,000--the 13th consecutive monthly decline. The May sales pace put the supply of homes available for sale at 10.9 months' worth, the Commerce Department said.
Economists for the two largest credit union trade associations said they didn't expect things to improve much in the short term.
CUNA Chief Economist Bill Hampel said the housing market is approaching bottom and the recovery won't be fast. "In lots of markets we are expecting the bottom to hit some time in the second half of this year, but the recovery after that bottom will be very gradual. The graph will look more like a saucer than a 'v,'" he said in an interview.
NAFCU Staff Economist Katrin O'Connor said the numbers were in line with expectations. "While it seems like new home sales are slowly starting to bottom out at a very low level, inventories remain very high. As a result, home prices will continue to fall well into next year, which will make many potential buyers hold out for further price declines. In addition, the current high mortgage rates and tight lending standards are also keeping demand low," she said in a statement.