Wauna Federal Credit Union President/CEO Robert Blumberg, Mohawk Valley CU CEO Crystal Sicilia, and City Federal CU CEO Kevin M. Jones are the latest Credit Union Executives Society winners of three partial scholarships for the 2009 CEO Institute program.
The partial scholarships are for active CUES members who are full-time paid credit union executives committed to attending the entire three-year CEO Institute program.
CEO Institute is a academic and leadership program tailored specifically for credit union executives. It is held over three years at three of the nation's most respected business schools: the Wharton School, University of Pennsylvania, Philadelphia, recently ranked fourth in BusinessWeek magazine's annual Best U.S. Business Schools of 2008 list; Johnson Graduate School of Management, Cornell University, Ithaca, N.Y., ranked 11th on the BusinessWeek list; and Darden Graduate School of Business Administration, University of Virginia, Charlottesville, Va., ranked 16th on the list.
Since 1995, 412 credit union executives have completed the CEO Institute program. Executives who complete all three years of the CEO Institute program and two post-segment projects are eligible to become certified chief executives; to date, 329 have earned their CCE.
--mdigiovanni@cutimes.com
Church, CU
Rework Loan
After a battle that has played out for nearly a year, Evangelical Christian Credit Union and the Without Walls church have finally worked out a new agreement to stop foreclosure proceedings on the place of worship.
The St. Petersburg Times recently reported that the new terms for the Florida-based church include converting loan payments on the church's Tampa property to interest-only loans. The church would pay about $59,000 and the monthly payments would remain at $70,000, according to the March 5 article. The full payment on the loans is due in July 2010.
Evangelical Christian holds the mortgages on the church's Grady Avenue property and its Lakeland, Fla.-based branch. The church owes $13 million on its Tampa property and $12.5 million on the Lakeland branch.
Without Walls Pastor Randy White told the publication that the new arrangement will give the church more time to sell some of its assets or refinance. The church would also retain the rights to its intellectual property, which includes books and recordings.
White had previously accused Brea, Calif.-based Evangelical Christian CU of unfair lending practices and thought that the financial institution's motives were to sell the church's property for a profit. After the work-out agreement, White reversed his position.
--msamaad@cutimes.com
The partial scholarships are for active CUES members who are full-time paid credit union executives committed to attending the entire three-year CEO Institute program.
CEO Institute is a academic and leadership program tailored specifically for credit union executives. It is held over three years at three of the nation's most respected business schools: the Wharton School, University of Pennsylvania, Philadelphia, recently ranked fourth in BusinessWeek magazine's annual Best U.S. Business Schools of 2008 list; Johnson Graduate School of Management, Cornell University, Ithaca, N.Y., ranked 11th on the BusinessWeek list; and Darden Graduate School of Business Administration, University of Virginia, Charlottesville, Va., ranked 16th on the list.
Since 1995, 412 credit union executives have completed the CEO Institute program. Executives who complete all three years of the CEO Institute program and two post-segment projects are eligible to become certified chief executives; to date, 329 have earned their CCE.
--mdigiovanni@cutimes.com
Church, CU
Rework Loan
After a battle that has played out for nearly a year, Evangelical Christian Credit Union and the Without Walls church have finally worked out a new agreement to stop foreclosure proceedings on the place of worship.
The St. Petersburg Times recently reported that the new terms for the Florida-based church include converting loan payments on the church's Tampa property to interest-only loans. The church would pay about $59,000 and the monthly payments would remain at $70,000, according to the March 5 article. The full payment on the loans is due in July 2010.
Evangelical Christian holds the mortgages on the church's Grady Avenue property and its Lakeland, Fla.-based branch. The church owes $13 million on its Tampa property and $12.5 million on the Lakeland branch.
Without Walls Pastor Randy White told the publication that the new arrangement will give the church more time to sell some of its assets or refinance. The church would also retain the rights to its intellectual property, which includes books and recordings.
White had previously accused Brea, Calif.-based Evangelical Christian CU of unfair lending practices and thought that the financial institution's motives were to sell the church's property for a profit. After the work-out agreement, White reversed his position.
--msamaad@cutimes.com
