Credit Union Times Magazine December-18, 2002

In Other News

  • BRANCHING OUT

    Affinity Federal Credit Union, Bedminster, N.J., has celebrated the grand opening of its latest branch. Festivities kicked off with a ribbon-cutting ceremony and reception. Mid-Hudson Valley Federal Credit Union, Kingston, N.Y., has selected design/build firm DEI, Inc., to build its latest branch. Consisting of approximately 4,500 square-feet with two drive-thru...

  • DONATIONS

    Cabrillo Credit Union, San Diego, Calif., has raised $300 for Children's Hospital through its participation in Kids NewsDay. Kids NewsDay, raises money for the hospital through the sale of special editions of the San Diego Union-Tribune newspaper. The funds raised were from newspaper sales at all three Cabrillo CU branches...

  • AWARDS

    State Employees Credit Union, Lansing, Mich., has named Kelly Marsh as the recipient of its First Annual C.O.R.E. Award. C.O.R.E. stands for Creative, Optimistic, Respected, and Empowered. Marsh was recognized for living the values, providing extraordinary service to members and co-workers, and making her job fun. The four finalists included...

  • Farewell to an Intriguing 2002

    2002 had it all. New regulations, lots of changes in corner offices, continued heat from the bankers, the ongoing bankruptcy saga, high-tech wonders, and too many more to list here. Read all about it in the special Year in Review section on pages 17-32.

  • CU Condo Puts Out the Welcome Mat

    HONOLULU - Could condos be credit union facilities of the future? Two Hawaii credit unions are banking on it to offer more member convenience. Honolulu City & County Employee's Federal Credit Union and Honolulu Federal Employees' Federal Credit Union have joined forces to build a five-story credit union condominium, complete...

  • Credit Unions Receive National Media Play in Washington Post

    WASHINGTON-Credit union versus banker issues were aired nationwide Dec. 8 in the Sunday edition of The Washington Post when Columnist Al Crenshaw featured NCUA's field of membership proposal in his column. "Credit unions, which have been growing briskly as bank consolidations have alienated more and more traditional banking customers, may...

  • Mountain America Getting "Unusual" Member Backing in Bank Feud

    SALT LAKE CITY - Citing what it calls "unusual support from our members," Mountain America Credit Union said this week the reaction among its members has been "outrage" over the latest bank-led barrage against the CU tax exempt status in Utah. "I think we've received nearly 20 phone calls or...

  • No Extra Dough in NCUA Board Appointees' Checks Despite Power for Board Members to Reward Their Schedule C Employees

    ALEXANDRIA, Va.-The members of the NCUA Board have decided not to award their personal Schedule C appointees cash bonuses, as is currently permitted by the Bush administration. Former-President Bill Clinton halted the awarding of cash bonuses for upper level federal government appointees due to the potential for an appearance of...

  • Ohio Credit Union Finds Working With Underserved Expensive, But Worth It

    CINCINNATI - Maybe cost is the reason more credit unions aren't working with the underserved. William Herring, CEO of the Cincinnati Central Credit Union, said his institution remains committed to one of the city's most impoverished areas, even though it's costing the CU a lot of money. The $60 million...

  • "Safety" Issue Emerges in Utah Bank-Credit Union Spat

    SALT LAKE CITY - That bank-credit union fight in Utah over taxing CUs has shifted this time to "safety and soundness," underscored by a request from the Utah League of Credit Unions to the state's top financial regulator to halt what the ULCU calls an attempt to undermine the financial...

  • Missouri Credit Union Division Sets Long-Term Goals, Seeks to be Regulator of Choice

    JEFFERSON CITY, Mo.- Taking a page from the management consultant's handbook, the Missouri Division of Credit Unions has promulgated and put on its Web site goals for the next biennium, setting targets for the division's operation. Among the division's 10 goals for 2003-2004 are to implement risk-focused examinations and, concurrent...

  • Affinity Plus FCU CEO Makes the Cut

    ST. PAUL, Minn. - Move over corporate and banking giants and make room for Affinity Plus Federal Credit Union President/CEO Kyle Markland. Markland and the credit union have become quite popular since he has been named one of the Top 30 People to Watch in 2003 by the Twin Cities...

  • CUNA,NAFCU at Odds Over Re-presented Checks

    WASHINGTON-Two national credit union trade associations in the Washington, D.C.-area have submitted comments to NACHA (the Electronic Payments Association) regarding its re-presented check proposal. Generally, CUNA does not support the proposal because of the extensive costs, re-training, new programming and an expected "deluge" of consumer questions. According to CUNA as...

  • Credit Card Judge Seems to Side With Plaintiffs

    SACRAMENTO - During a December 6 hearing in a lawsuit over a pending California credit card law, the judge deciding the suit appeared prepared to favor the credit unions, however no decision has been forthcoming so far. Judge Frank Damrell's Eighth Circuit U.S. District Court seemed poised to side for...

  • As O'Neill and Lindsey Step Down, Snow Comes to Town

    WASHINGTON- President George W. Bush announced last Monday that CSX President and CEO John Snow would replace Paul O'Neill as Treasury secretary. CSX is one of America's largest freight railroads. "As we look to a new year and a new Congress, John Snow will be a key advisor on the...

  • CULAC Throws Wad of Last Minute Cash into Elections

    WASHINGTON-CUNA's far-reaching political arm disbursed large sums of money in the final days before the elections. According to CUNA Vice President of Political Affairs Richard Gose, there is a simple, logical explanation for the eleventh-hour outpouring. "Campaigns need money at different times of an election cycle for different things," he...

  • United Airline Employees CU Considers Cutting Single Sponsor Tie

    CHICAGO - With its parent company in Chapter 11 bankruptcy, the $4 billion United Airlines Employees' Credit Union said it is looking "as an option" abandoning its single sponsor structure, adding business SEGs and pursing possible mergers in 2003. The move to consider "diversification" in its field of membership comes...

  • Vermont League Members Turn Down Dues Hike

    BURLINGTON, Vt. - In what is being called a "discouraging" development by its leadership, members of the Vermont Credit Union League have narrowly rejected a dues hike for 2003. League management, calling the defeat a "temporary" setback in a program to increase revenue, had sought the increase to pay for...

  • Happy Holidays From Credit Union Times

    NONE

  • Fed Names Jones to TIAC

    WASHINGTON-The Federal Reserve Board named seven new members to its Thrift Institutions Advisory Council last week, including credit union supported Eastman Credit Union President and CEO Olan O. Jones, Jr. of Kingsport, Tenn. "Credit unions will be ably and well represented by their two representatives on the Council: Mr. Jones,...

  • Is NCUA's Pay Too High?

    NONE

  • Year-end Rituals Prompt NCUA Board Meeting Schedule

    ALEXANDRIA, Va. - Coming up on the last meeting of the year, the NCUA Board has posted its 2003 schedule on its Web site (www.ncua.gov). The December meeting still remains for this year and tends to be a light one, but 2003 is a whole new ball game. Credit unions...

  • No extra green for NCUA's Schedule C'ers

    As holiday bonuses are doled out this time of year, the NCUA Board elected not to do so with their Schedule C employees. Page 4.

  • Million Dollar Investment Takes Foundation Fund over $150 Million

    WASHINGTON - A million dollar investment from the $1.3 billion Bethpage Federal Credit Union based in New York has hiked the National Credit Union Foundation's Community Investment Fund (CIF) to over $150 million, according to the Foundation. "This investment is just part of being a good credit union citizen," said...

  • We'll Be Back in Two Weeks

    All good things must come to an end and this 51st issue marks the final issue of Credit Union Times for 2002. The nation's leading independent weekly credit union publication will be back in two weeks with its Jan.1, 2003 issue.

News

  • Bream Says Goodbye to United

    CHICAGO - There's even one billion dollar credit union CEO position vacant right now with the resignation of Bob Bream from the $3.9 billion United Airlines Employees CU. Bream joined UAECU in 1991 and served as CEO for 10 years. He said he's most proud of growing capital reserves to...

  • Part 704 Revamped: A New Reg is Born

    ALEXANDRIA, Va. - It was a long haul to a new corporate regulation, but most corporate leaders feel it was worth it. The NCUA Board approved the new corporate reg at its October board meeting. The main highlights include the following: *A grandfathering provision for Paid-in-Capital; *Elimination of a provision...

  • Madden Joins the Ranks of Billion Dollar CU Women CEOs

    POUGHKEEPSIE, N.Y. - It isn't just the overall number of women credit union CEOs that's increasing, it's also the number of women CEOs of billion dollar credit unions. In May, Mary Madden became the fifth member of that club when she was named president/CEO of the $1.4 billion-in-assets Hudson Valley...

  • Notable Name Changes

    There were a few surprises this year in the credit unions participating in the name change game. Here are a few of the more notable name changes that occurred in 2002: With a sponsor company declaring bankruptcy and all the negative publicity associated with it, Enron Federal Credit Union quickly...

  • Van Ouwerkerk Takes Over for Siravo at Travis CU

    VACAVILLE, Calif. - Yet another billion dollar CU CEO job opened up when Bob Siravo stepped down from the $1.1 billion Travis CU to head up WesCorp. Patsy Van Ouwerkerk, formerly president/CEO of Alliance CU San Jose, was named as the new CEO of Travis. Van Ouwerkerk is one of...

  • NASCUS Spends 2002 Defending Importance of Dual-Chartering System

    WEST PALM BEACH, Fla. - State-chartered credit union activity was kicked up several notches in 2002 as NASCUS received signals from Capital Hill that Congress would have its eye on the state-chartered CU system in the 108th session with the possibility of restricting SCCUs' and state regulators authorities. State-chartered credit...

  • The Struggle Over Card Portfolios Continued in 2002

    ARLINGTON, Va. - The struggle over credit unions' card portfolios raged onward in 2002 as more institutions sold their portfolios to card specialty banks and credit union card advocates began fighting back. The debate over the reputability of credit unions selling their portfolios seemed partially settled after the Florida based...

  • Credit Union Museum Makes U.S. Debut

    MANCHESTER, N.H. - This year marked the opening of America's Credit Union Museum. Since 1994, when Armand and Joanne Lemire donated the Boivin family home to the New England Credit Union Heritage Foundation, plans to restore the house to create a national credit union museum, and build a state-of-the-art conference...

  • Halleck Replaces Hollen at The Golden 1

    SACRAMENTO, Calif. - The Golden 1 CU found its new CEO at another billion dollar credit union. Teresa Halleck, formerly president/CEO of the $1.2 billion State Employees CU of Maryland, landed the corner office at The Golden 1. This was one of the most sought after jobs in the industry...

  • Record-Low Mortgage Rates Feed CUs' Mortgage Portfolios

    Used auto loans have historically been the core of credit unions' loan portfolios, but record-low mortgage rates throughout the year combined with auto dealers' 0% financing offers, made for a different story in 2002. In October 2001, used cars dominated credit unions' loan portfolios - accounting for 20.64% - but...

  • Hollen Didn't Leave for Long

    MOUNDS VIEW, Minn. - As quick as Stan Hollen was gone he was back again. Hollen stepped down from the top job at the $4 billion The Golden 1 CU, Sacramento, after 17 years on the job. Hollen was responsible for a number of groundbreaking changes at the CU, including...

  • NCUF Gained Power in 2002; Callahan Fund is Born

    WASHINGTON - The National Credit Union Foundation gained power in 2002 as pledged investments from credit unions around the country tripled its Community Investment Fund from $50 million to $150 million. The credit unions responsible for the bulk of the growth took part in an investment drive of more than...

  • CU Creativity Shines in 2002 Marketing Blitz

    WEST PALM BEACH, Fla. - What a year for credit union branding efforts. From tapping celebrities and sport franchises to shining the spotlight on members and employees alike, credit unions marketers seemed to be working overtime this year to spread the credit union message to members of all ages. Here's...

  • CUs Broaden, Deepen, Their Work with the Poor in 2002

    ARLINGTON, Va. - Stung by allegations they do not adequately serve lower and middle income members, credit unions around the country began scrambling to point out what they do and started doing more where possible. Coming on the heels of NCUA's abandoning of the controversial Community Action Plan regulation, and...

  • A Regional Corporate Concept is Pushed in the Midwest

    WEST PALM BEACH, Fla. - Missouri Corporate CU President/CEO Dennis DeGroodt is worried about Midwest corporates losing their voice. DeGroodt proposed that eight Midwest Corporates (some however don't look like they're from the Midwest when looking at a map) merge and form one large Midwest regional corporate. The eight corporates...

  • NCUA Employees Consider Organizing Union

    ALEXANDRIA, Va.-Facing the closure of the Region IV office in the Midwest and pressure from credit unions and their trades for NCUA to slash its budget, agency employees are concerned about job security. Earlier this year, some NCUA employees contacted the National Treasury Employees Union for guidance on organizing a...

  • U.S. Central, CNBS Say Goodbye to Non-Compete a Few Years Early

    OVERLAND PARK, Kan. - The 10-year non-compete between Corporate Network Brokerage Services and a U.S. Central brokerage CUSO (Capital Markets, Inc.) was abolished six years early. The non-compete prohibited CMI from providing brokerage and advisory services to natural person CUs, and prohibited CNBS from providing brokerage and advisory services to...

  • All in the Family at Provident Central CU

    REDWOOD CITY, Calif. - Former Provident Central CU President/CEO Ludelle Morrow will certainly have the ear of her successor at the $1.1 billion CU - not that she plans on talking CU business with him. Morrow was succeeded by her son, Wayne Bunker, who was serving as president/CEO of the...

  • Crowley Joins Ranks of Women CU CEOs

    CORNING, N.Y. - Corning Credit Union didn't have to go far to find the successor to David Bartone, who served as president/CEO of the $465-million CCU for the past 33 years. Although Corning CU's Board did an extensive external search, in October the credit union promoted its vice president Ann...

  • There's action in the card case

    Find out the latest in the California card suit that has banks and credit unions on the same team. Page 3.

  • Beach retires from Colorado League, but maintains CU ties

    ARVIDA, Calif. - After serving as president/CEO of the Colorado Credit Union System for nearly 30 years, Carroll Beach retired in June. But Beach was not out of the CU picture for long. In July, he was named executive consultant with the CU Association of the West. He is assisting...

  • FOM Proposal Caps off Year of Credit Union Regulatory Relief

    ALEXANDRIA, Va.-NCUA's proposed rule expanding field of membership authorities issued for comment at the November board meeting was the icing on the cake of 2002's credit union regulatory relief advances. Though modifications were made to virtually every portion of the regulation, according to NCUA Senior Staff Attorney and Field of...

  • Regulatory Relief Legislation Died in 2002, but Expected to Rebound for 2003

    WASHINGTON-After passing out of the House Financial Services and Judiciary Committees, the Financial Services Regulatory Relief Act (H.R. 3951) lost momentum and died at the conclusion of the congressional session. However, lobbyists view next year as more promising. Several provisions in the bill were favorable to credit unions, which caused...

  • Checks Down in Volume, Value; ACH EBT Gaining

    WEST PALM BEACH, Fla. - Any way you look at it and regardless of which set of numbers you go by, one fact remains: the number and value of checks being written by consumers is declining. The Federal Reserve didn't have to release the revised numbers it did in August...

  • NCRC Lawsuit Against NCUA CAP Repeal in Limbo

    ALEXANDRIA, Va.-The National Community Reinvestment Coalition filed suit against NCUA at the beginning of 2002 for its elimination of the Community Action Plan regulation. The CAP was removed through an interim final rulemaking at the end of 2001, which did not allow for public comment that NCRC claimed is required...

  • Credit Unions Mourn Passing of Leaders, Supporters in 2002

    The year 2002 marks the unfortunate passing of many pioneers who brought so much energy, dedication and service to the credit union movement. The following list is by no means complete, and Credit Union Times regrets the omission of any notable deaths not highlighted here. *Former NCUA Administrator and lobbyist...

  • New York Foundation Disburses 9/11 Donations

    LATHAM, N.Y. - In September, the New York Credit Union Foundation announced the recipients of credit unions' outpouring of support for individuals and institutions harmed by the World Trade Center attacks one year before. Over the course of the year since the attack, the Foundation collected more than $1.4 million...

  • Bankruptcy Reform Legislation Frustrates Lenders, Congress Yet Again

    WASHINGTON-Over the last four years, the bankruptcy abuse reform bill has been introduced in Congress and each year it gets shot down, one way or another. After President Bill Clinton killed the bill with a pocket veto three years ago, a sigh of relief was audible from supporters when the...

  • Callahan Hangs Up his Hat at Patelco

    SAN FRANCISCO - After more than 25 years working in various aspects of the credit union movement including 15 years as CEO of the $2.9 billion Patelco CU and four years as NCUA Chairman, Ed Callahan will retire on Dec. 31. Known for his dedication to credit unions, his sense...

  • Fleming, Retires from Founders FCU

    LANCASTER, S.C. - The number of women credit union CEOs is increasing, and they have Laura Fleming to thank for that. Fleming, president/CEO of Founders FCU is known as a pioneer for women CEO. She retires at the end of 2002 after 42 years with the $840-million credit union. Fleming...

  • Two CUs and Check Cashers Make Strange Bedfellows In 2002

    NEW YORK - Two credit unions in New York broke new ground in 2002 by starting relationships with Manhattan check cashers. Under the arrangement, which needed approval from the New York State banking authorities, members of the $9.6 million Bethex Federal Credit Union, based in the Bronx, and the $68...

  • Patelco Deposit Insurance Conversion Stirs Curiosity

    SAN FRANCISCO-Patelco Credit Union caught the eyes of the credit union community in 2002 when it announced its plan to convert from federal deposit insurance to a private fund. Patelco's members overwhelmingly passed the measure to convert to the American Share Insurance fund with 40,734 votes in favor out of...

  • 9/11 Attack Brought Home Importance of Back-Up

    NEW YORK - In case anyone ever doubted it, the 9/11 attacks on the World Trade Center in New York City brought home the importance of having a disaster relief plan that is as flexible and redundant as possible. It came out this year that the $1 billion Municipal Credit...

  • Steady Dose of Corporate Credit Union Mergers Drops Number of Corporates to 33; Soon to be 32

    WEST PALM BEACH, Fla. - Corporate credit unions continued to disappear in 2002, but there was nothing magical about it - just plain old business. While many corporate credit union CEOs snicker at the question, "How many corporates will be left in the future?" as if it's offensive, the facts...

  • SEC Still Out on CUSO Broker-Dealer License Exemption

    NEWPORT BEACH, Calif. - If 2001 was the year NCUA's approval of expanded incidental powers for federal credit unions made CUSOs sit up and reevaluate their evolving role in the CU industry, then 2002 can be considered the year the Securities and Exchange Commission put CUSOs on notice that the...

  • Card Suits Continued to Cloud Picture in 2002

    ARLINGTON, Va. - Two court battles over credit cards continued in 2002, leaving it unclear as the year drew to a close how much income credit unions can expect from their credit cards and how much it will cost to offer those cards. The dispute that muddied the waters on...

  • NCUA Pleased with Lump Sum Pay Raises

    ALEXANDRIA, Va.-NCUA employees, for the first time this year, were given half their annual raises up front in March and half spread throughout the year. The total effect was to lower the salary that the following year's pay increase is based on since the lump sum is not included as...

  • Reich Leaves President's Spot at North Dakota League

    BISMARCK, N.D. - Disagreement over the issue of closer ties or a merger between the North and South Dakota Credit Union Leagues forced Buell Reich's hand in September to resign as president of the North Dakota Credit Union League. Reich had been League president for the past three years, and...

  • There Were Still a Few Big Tech Firm Mergers to Speak of

    WEST PALM BEACH, Fla. - In years past in this last issue of the year a number of credit union data processing or Net banking mergers that occurred would be chronicled. There's not as many these days, though there's been a deal here and there. One of the most intriguing...

  • 2002 Beltway Credit Union Gurus Experience Minimal Personnel Shake Up

    WASHINGTON-Credit union activists in the nation's Capitol have been coming and going throughout 2002, including trade association employees, as well as the federal regulator and key members of Congress. Most notably, the president replaced two-thirds of the NCUA Board in January of this year. NCUA Board Member JoAnn Johnson joined...

News Briefs

  • With Brokaw as a Closing Act at the 2003 GAC, Attendees are Sure to Stay Through the End

    WASHINGTON-CUNA recently announced NBC Nightly News Anchor Tom Brokaw as the final speaker for its 2003 Governmental Affairs Conference (GAC) in Washington, D.C. on Wednesday, February 26. Brokaw, anchor of the Nightly News since 1983, will share his experiences on the current state of our nation and the world. He...

  • Certegy Would Gain 100 CU Net Banking Clients Through Netzee Deal

    ALPHARETTA, Ga. - Approximately 100 credit unions that currently receive their Internet banking services through Netzee could start receiving them from Certegy, if a pending deal for Certegy to buy the firm goes through. According to Certegy, Netzee, based in Atlanta, provides e-commerce services to approximately 800 community banks and...

  • Wright-Patt CU CUSO Signs Mortgage Origination Agreement with CSEFCU

    FAIRBORN, Ohio - Wright-Patt Financial Group Ltd., a wholly-owned subsidiary of Wright-Patt CU, has signed a wholesale mortgage loan origination agreement with Canton School Employees FCU. Under the terms of the agreement, CSEFCU will accept loan applications from its 14,000 members. WPFG will provide the loan processing, underwriting and coordination...

  • Pennsylvania Credit Union Parity Bill Signed in to Law

    HARRISBURG, Pa. - Gov. Mark Schweiker signed the State Credit Union Parity bill in to law Dec. 9. The bill passed the state Senate in June by a 49-0 vote and the House of Representatives in November by a vote of 197-0. Among the provisions of the law, it: allows...

  • Study Finds McGladrey & Pullen is Largest CU Auditor

    BLOOMINGTON, Minn -McGladrey & Pullen, LLP, is the largest credit union auditor in the nation, according to a study done by Public Accounting Report. Public Accounting Report, a bi-weekly newsletter on the accounting industry, looked at credit unions with $40 million or more in assets, and found that McGladrey &...

  • Bush Announces Donaldson as Pick for SEC Post

    WASHINGTON-President George W. Bush announced his choice of Bill Donaldson as the new Securities and Exchange Commission chairman last week. Donaldson has founded a leading investment banking firm, chaired the New York Stock Exchange, and was the founding dean of the Yale School of Management. He is also a Marine...

Letters to the editor

  • Time to move past bankruptcy reform

    Now that the 107th Congress is history, along with the ill advised credit union supported bankruptcy legislation, I would suggest that it's time for credit union leaders to go back to square one and reconsider our entire approach to the bankruptcy issue. Credit union organizations spent large amounts of money,...

  • In favor of bankruptcy reform

    I take exceptions to the recent spate of articles and letters to the editor in opposing bankruptcy reform, most of which contend 90% of bankruptcy petitioners experienced job loss, illness or divorce. This is populist drivel. In my 45 years experience in dealing with bankruptcy filings, less than 20% of...

Opinion

  • Thinking About Selling Your Credit Card Portfolio?

    How valuable is your credit card portfolio? If you issue credit cards to your members, you've probably been contacted by one of the big credit card companies wanting to buy it. At first it may seem like a good deal, especially if your portfolio is a small part of your...

Publisher's Column

  • Many 2002 Predictions Pan Out; Some Don't

    Seems like only yesterday that I went out on a limb to predict what the world of credit unions would look like in the year 2002. How did I do? Being an eternal optimist, I predicted that the overall economy would improve as 2002 unfolded. It did a bit but...

Publisher's Notebook

  • It was a great year

    Any way you measure it, the year 2002 is wrapping up as a great year for Credit Union Times, our best in our 12 years of being in business. On the revenue side, new records were set in total dollars and pages run for both display and classified advertising. Paid...

People

  • EAST

    Capital Communications Federal Credit Union, Albany, N.Y., has named Robert Bascom manager of business development/ public relations; Lisa Toomey call center associate; and Ellen O'Brien financial services associate. Pawtucket Credit Union, R.I., has named Augusto Rojas, Jr. assistant vice president/ community development officer; Michael Jordan director of data research/analysis; and...

  • MIDWEST

    Iowa Credit Union League and Iowa League Corporate Central Credit Union, West Des Moines, Iowa, have named Jeffrey M. Falk director of product development and Scott Torres programmer developer at its subsidiary The Members Group. Landmark Credit Union, New Berlin, Wis., has promoted Lisa Heath to West Milwaukee assistant vice...

  • SOUTHWEST

    San Antonio Teachers Credit Union, Texas, has promoted Keith Howard to vice president of information technology/ chief information officer. City Employees Federal Credit Union, San Antonio, Texas, Senior Vice President of Finance/Technology Steve Schipull has been elected Alamo Chapter of Credit Unions board director. OmniAmerican Credit Union, Fort Worth, Texas,...

  • VENDORS

    Irwin Mortgage, a residential mortgage provider, has named Kimberly F. Trevino mortgage loan officer and JoAnna Camposano loan officer assistant at Border Federal Credit Union. In addition, Irwin Mortgage has named Justine Marshall mortgage loan officer at Virginia Educators Credit Union .

  • WEST

    Global Credit Union, Spokane, Wash., has promoted Shay Morris to Vicenza branch manager. The Golden 1 Credit Union, Sacramento, Calif., has appointed Tammy Eudy senior vice president of human resources and Dave Thompson senior vice president of marketing. Kitsap Community Federal Credit Union, Bremerton, Wash., has named Missial Cruz external...

  • SOUTH

    Florida Episcopal Dioceses Federal Credit Union, Orlando, CEO Lavelle Basden has announced her retirement as of Dec. 31, 2002. During nearly 25 years of service, Basden has been a key player in FEDFCU's growth. Basden was the driving force behind obtaining approval from the NCUA for the recent membership expansion,...

Year In Review

  • ACCU's Loss is Empire's Gain

    WASHINGTON - The Association of Corporate Credit Unions saw its intense leader move on. Gigi Hyland stepped down as the ACCU's Executive Director to take a legal position with Empire Corporate FCU. Talk to just about any corporate credit union CEO and they credit Hyland with not only putting the...

  • Saying Goodbye to a Legend: Johnson Retires

    SAN DIMAS, Calif. - The corporate credit union network lost a true legend this year with the retirement of the venerable, long-time WesCorp President/ CEO Dick Johnson. But Johnson is not really lost. He's already showed up as a consultant for a handful of organizations, including Honda FCU where appropriately...

  • Miles Leaves the Corporate, but Stays in Virginia

    LYNCHBURG, Va. - After leading Virginia League Corporate FCU through an interesting period, David Miles is returning to the Virginia League. Miles took over Virginia League Corporate FCU as CEO in a bit of a trying time as NCUA's Interlock restriction had just separated the leagues and corporates. Miles said...

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