Credit Union Times Magazine November-12, 2003

In Other News

  • SCHOLARSHIPS

    CEFCU, Peoria, Ill., has awarded scholarships to three members to attend Illinois Central College. The lucky recipients are Ryan Beals, Kayla Fitzgerald and Ruth Glueck. Up to $1,000 was given to each of the scholarship recipients for the 2003-2004 academic year.

  • DONATIONS

    Financial 21 Community Credit Union, San Diego, Calif., staffers have donated their time to help in the California Coastal Cleanup Day. Some 70 volunteers gathered over 3, 350 pounds of trash and 200 pounds of recyclables surrounding the 60 acre Mission Valley Preserve in San Diego. California Coastal Cleanup Day...

  • AWARDS

    CP Federal Credit Union, Jackson, Mich., has been presented the CUNA 2003 National Desjardins Youth Financial Education Award. During the 2002-03 school year, CP Federal Credit Union's youth representatives conducted some 821 classroom presentations on personal finance in Jackson County-reaching a combined student population of 26,664, more than double the...

  • BRANCHING OUT

    South Texas Federal Credit Union, McAllen, has broken ground on a new branch. The state-of-the-art facility is scheduled for completion in early 2004.

  • CCUL President/CEO's Home Survives Wildfires; Other CU Employees, Members Lose Everything

    CEDARPINES PARK, Calif. - The mountain home owned by the president and chief executive officer of the California Credit Union League has survived Southern California's wildfires. "We were very lucky," said David L. Chatfield. "We were very fortunate." At least 14 homes in his small community of Cedarpines Park in...

  • Japanese Officials from Country's Largest Agriculture Co-op Tour Maine CUs

    WESTBROOK, Me. - Officials from Japan's largest agricultural cooperative were recently hosted by the Maine Credit Union League and two credit unions to learn more about the movement here and to take pointers back to their native country. The Japanese delegation representing Norinchukin Cooperative Bank, which has $400 billion in...

  • Three More CUs Start Using Wescom to Balance ATM Deposits

    PASADENA, Calif. - The Wescom Resource Group, a subsidiary of the $2.4 billion Wescom credit union, has announced that three more credit union have begun using its ATM Deposit Balancing product. The three credit unions using the product have a combined 15,000 ATM deposits each month, WRG said. Overall, WRG...

  • Financial Education Key to Savings, NAFCU Testifies

    WASHINGTON - NAFCU submitted testimony to the House Education Reform Subcommittee, which recently held a hearing on financial literacy, regarding credit unions' financial literacy efforts. NAFCU said in its written statement that financial literacy is crucial for all Americans because it is directly tied to personal savings, which is at...

  • Filene Study Pinpoints Four Types of Financial Planning Seekers

    MADISON, Wis. - With the myriad of options available for getting the best financial advice, identifying four types of seekers can help credit unions tailor those choices. A recently released Filene Research Institute study, Professional Financial Advice for Consumers: Implications for Credit Unions, questioned 3,780 households and identified four market...

  • TCUL's Chatfield Elected to New Ex-Officio Position on CSSI Board

    MADISON, Wis. - Mark Chatfield, senior vice president and chief marketing officer of the Texas Credit Union League was elected for a one-year term to a new ex-officio position representing the league service corporate executives on the CUNA Strategic Services Inc. (CSSI) Board. The ex-officio position was created at the...

  • Barnes, Tennessee Dual-Charter Leader, Former CUES Chairman, Dies

    KNOXVILLE, Tenn. - Carl Barnes, former chairman of CUES and retired president/CEO of Knoxville TVA CU, died Oct. 26 from complications from cancer. He was 80 years old. Barnes, a native of Corinth, Miss., was hired at KTVACU as manager Dec. 4, 1961. That title was later changed to president/CEO,...

  • WOCCU Efforts Recognized By Lawmakers

    WASHINGTON-Eight members of Congress recently penned a letter to the U.S. Department of Agriculture in support of proposals that the World Council of Credit Unions has made regarding three developing countries. WOCCU, in partnership with various other organizations, has proposed projects in Romania, Sri Lanka, and Vietnam under the Food...

  • Portland Teachers CU and Oregon Community CU Exploring Merger

    PORTLAND, Ore. - In what would be the largest natural person credit union merger ever, the $1.4 billion Portland Teachers Credit Union and the $650 million Oregon Community Credit Union are discussing a potential merger. As of press time, nothing definitive had been completed. At this point the two boards...

  • 2003 Refi Trends Similar to 2001 Boom

    ARLINGTON, Va.-Refinancings for 2003 are tracking very closely to the "wave" of 2001, according to NAFCU's October Flash Report. The approximately 120 respondents to NAFCU's survey said that 35% of their 2003 mortgage originations were refinancings, up slightly from the 30% from 2001. More than half (52%) of mortgage originations...

  • Assets Up at U.S. Central; 12 Sign on For New System

    LENEXA, Kan. - U.S. Central released its third-quarter results recently with its assets coming in at $36.6 billion as of Sept. 30, up from $35.1 billion at the same point list year. Average interest earning assets were $37.9 billion, up from $31.7 billion a year ago. Member balances totaled $31.2...

  • Cash Flow-Based Investments, Not Predicting The Market Can Buffer Loan-to-Share Drop

    WASHINGTON - When it comes to a credit union's portfolio, investing "like the best" can mean a myriad of things as investment yields remain at all time-lows. At an Oct. 30 Callahan & Associates Webinar on investment strategies, more than 40 participants logged on to compare notes on what it...

  • U.S. in Early Stages of Economic Recovery, Say Economists

    DALLAS - "The economy is picking up." "Mild recovery is gathering momentum." "The economy turns the corner." While the language may have been slightly different in each speaker's presentation, the overall assessment of the nation's economic status presented by three economists at Southwest Corporate Federal Credit Union's 26th Annual Economic...

  • U.S. Central Circulating Proposal That Keeps Board At Nine, But Gives Corporates a Larger Voice

    LENEXA, Kan. - At press time, corporate credit union CEOs were still in the evaluation phase of a recently-released U.S. Central proposal to revise the board's structure. This issue was taken up at length at the Association of Corporate Credit Unions' recent annual meeting in New Orleans. U.S. Central President/CEO...

  • Senators Usher FCRA Renewal, ID Theft Legislation onto Conference

    WASHINGTON-The Senate passed legislation at deadline last week to renew the federal preemptions in the Fair Credit Reporting Act, which were set to expire at year-end, and provide additional identity theft protections for consumers. The National Consumer Credit Reporting System Improvement Act of 2003 (S. 1753) overwhelmingly passed the Senate...

  • Utah CUs Continue to Join Lineup for Converting to Fed Charter

    SALT LAKE CITY - The parade of Utah state-chartered credit unions - both big and small - lining up for conversion to federal charter shows no sign of slowing down. Indeed, NCUA's regional office in Concord, Calif. okayed two more approvals last month for the $45 million Carbon Credit Union...

  • Utah League Underwent Sharp Split In Tax Fight

    SALT LAKE CITY - Last winter's tax brawl in the Utah state legislature that resulted in a March law triggering a ban on business loans and a flight from the state system, also created a previously unreported membership schism in the Utah League of Credit Unions, it was disclosed last...

  • Will Improper Trading Allegations Against Putnam Investments Shake Member Confidence in Mutual Funds?

    BOSTON - What started out as charges of improper trading against Putnam Investments by regulators, quickly spiraled to at least a dozen states pulling billions of dollars in pension funds from the embattled firm to the chief executive stepping down as the scrutiny mounted. In the wake of it all,...

  • Oregon's Newest CU Finds Success by Going Beyond Financial Issues

    PORTLAND, Ore. - In just one year of operation, Hacienda Community Credit Union has become more than just a place where people come to make deposits and obtain loans. "They come to us for the most incredible things," admitted Yolanda Karp, president and chief executive officer. Like the time a...

  • New Foundation Grants Fund Wide Variety of Initiatives; First Callahan Fund Awardees Named

    ARLINGTON, Va. - The National Credit Union Foundation's most recent round of grant making has focused on both credit union and non-credit union efforts that are designed to both strengthen credit union programs and help credit unions leverage more money from other funders. The Community Investment Fund is the NCUF's...

  • CU Economists See Rainbow for 2004, Beyond Recent Years' Clouds

    WASHINGTON-The economy is preparing to bust out of its two-plus-year slump and move steadily in an upward direction, credit union economists are forecasting. Credit unions need to prepare for this scenario, members of the Credit Union Economics Group said on a call with reporters. "I think all of us believe...

  • CUAO Annual Conference Looks to Future of CUs

    PORTLAND, Ore. - More than 340 credit union leaders from throughout the state - as well as three credit union officials from the Republic of Uzbekistan - are expected to converge here Thursday and Friday (Nov. 13-14) for the 67th annual meeting and convention of the Credit Union Association of...

  • Columbia CU Members Narrowly Vote to Change Charters; Contentious Meeting Caps Controversy

    VANCOUVER, Wash. - A slim majority of 414 votes out of the almost 10,000 cast was enough to move the $600 million Columbia Credit Union from being a state chartered credit union to being a state chartered mutual thrift bank. The credit union has 59,000 members. Columbia is the 22nd...

  • Enis is New US Senate FCU CEO; From FDIC Examiner to Community Banker, Enis Knows the Financial World

    WASHINGTON - The $316 million US Senate FCU has named Susan Enis as its new CEO. Enis replaces Jan Roche, who now serves as president/CEO of another large government CU, the $700 million State Department FCU, also in Washington. Enis had been serving as the acting CEO since April. US...

  • Forget About `Mustang Sally'; CUAO has "Sand Rail Sallie'

    BEAVERTON, Ore. - Sallie Sylvester sits in her car anxiously waiting for the light to turn green. As soon as it does, she is off in a flash, spewing clouds of dust and dirt behind her. Within seconds, she is tearing down the road at 75 mph, the 350 Chevy...

  • MEMBERS Trust Company, First CU-Owned National Trust Firm Opens for Business

    TAMPA, Fla. - After clearing regulatory hurdles from the Office of Thrift Supervision in June, the industry's first nationally-chartered trust company recently received the final nod from another regulator to officially open for business. MEMBERS Trust Co., the newly-formed national trust cooperative providing trust services to credit union members, officially...

  • Man Traps Can Help Credit Unions Stop Robbers in Their Tracks

    SAN JUAN, PUERTO RICO - When former Banco Popular Security Director Plinio Rodriguez met Nova Comm CEO/Founder Bill Diaz neither knew that they would be laying the groundwork for a new security system for financial institutions. "In 1992 or 93 there was an unusually high rate of bank robberies in...

  • In Long-Awaited Report, GAO Recommends Oversight Enhancements for NCUA

    WASHINGTON-Though the credit union industry appears to be running smoothly and the financial condition strong, NCUA should make some changes to its oversight programs, according to a new 183-page report from the U.S. General Accounting Office. Time has been good to credit unions, GAO found. The government watchdog has not...

  • Christmas Comes Early at Dupaco CCU

    DUBUQUE, Iowa - Holiday shopping will be fun for over 3,400 Dupaco Community Credit Union Christmas Club members. The $313 million credit union has reported paying out $3 million in Christmas Club deposits. According to DCCU President/CEO Bob Hoefer, Christmas Club accounts are the perfect way for individuals to avoid...

  • Cabrillo CU Offers Fire Victims 0% Interest Loans

    SAN DIEGO - To help wildfire victims, Cabrillo Credit Union is offering recovery loans for up to $10,000 at 0% interest for 10 weeks. Victims have until November 30, 2003 to apply. "As a business with offices in Scripps Ranch, South Bay, East County, and Murphy Canyon, we know the...

  • CUNA Consumer Protections Subcommittee Gets to Work on ID Theft, Bounce Protection

    WASHINGTON-CUNA Assistant General Counsel Jeff Bloch has been working with the organization's Consumer Protection Subcommittee on top priority issues of late, including identity theft guidelines and bounce protection plans. Bloch said the subcommittee would be reviewing NCUA's proposed identity theft guidelines and helping CUNA develop its official comment letter. He...

  • CUNA Mutual Recognizes Credit Unions for Excellence in Lending

    INDIAN WELLS, Calif. - Four credit unions with exceptional lending programs received Excellence in Lending awards from CUNA Mutual Group at the CUNA Lending Council's conference last week. Awards in the consumer and mortgage lending categories were presented to: * (consumer, less than $250 million in assets) H-E-B FCU, San...

  • Federal Credit Unions Gain Five: Three Converts, Two New

    ALEXANDRIA, Va.-Five credit unions joined the ranks of the federal charter in September, according to NCUA monthly data. Stamford of Connecticut ($49.9 million) and $6.9 million Insurance Services in Region I converted to federal credit unions last month. Additionally, Railroad & Industrial ($133 million) of Tampa also became a federal...

  • Dover NJ Spanish American FCU CEO Elected Mayor

    DOVER, N.J. -Dover NJ Spanish American Federal Credit Union members can now join others in calling one of their own-CEO Javier Marin- mayor of Dover. Running on a platform that focused on strengthening the lines of communication between the community and elected officials in addition to building partnerships with local...

  • Customer Satisfaction with Financial Institutions Plummets, Banker Study Finds

    WASHINGTON-According to the 2003 American Banker/Gallup Consumer Survey, consumers are feeling increasingly neglected by their financial institutions, particularly credit unions. While American Banker reported that respondents who were very satisfied with their primary financial institution dropped from 55% to 63% last year, credit unions rated the largest drop among consumers...

  • CU Affiliate Gets Grant to Work with Low-income Entrepreneurs

    WASHINGTON - The Corporation For Enterprise Development, a non-profit that seeks to further small business entrepreneurship among low-income people, has granted $50,000 to Alternatives Community Ventures, a non-profit affiliate of the $45 million Alternatives Federal Credit Union. Both the credit union and its affiliate are based in Ithaca, New York....

  • Wescom CU Steps Up to Help Members

    PASADENA, Calif.- With some 4,000 members potentially impacted by the southern California wildfires, Wescom Credit Union has set up an emergency assistance program. According to Wescom CU Executive Vice President Jane Wood the credit union is prepared to provide emergency assistance including interest free loans, deferred payments to those sustaining...

  • Free Ride

    EWING, N.J - The Credit Union of New Jersey has celebrated its 60th Anniversary by awarding Howard Solomon $10,000. Solomon was the lucky winner of the credit union's promotion rewarding any member applying for a loan during the April through September timeframe the payment of that loan - up to...

  • CU Volunteers are the Future of the Movement, Matz Says

    MONTEGO BAY, Jamaica-NCUA Board Member Deborah Matz told attendees of CUNA's Volunteer Leadership Institute in Jamaica last week that volunteers hold the future of credit unions in their hands. "You have helped reduce the number of high-risk credit unions to near an all-time low," Matz told her audience. "With more...

  • Regulators Tell Congress Widespread Abuse Found In Mutual Fund Industry

    WASHINGTON - Abuses in the nation's $7 trillion mutual-fund industry are rampant especially involving trading of fund shares and violations of rules covering the sales of fund shares, federal regulators told members of Congress at a Nov. 4 hearing. The Capital Markets Subcommittee held a hearing to question Securities and...

  • Elan Takes Its ATM Network Nationwide

    MINNEAPOLIS - Elan Financial Services, a subsidiary of U.S. Bancorp, announced that it has merged its different ATM Networks in different parts of the country into a single network. The new national network, which will continue to be called Fastbank, has 7,000 machines in 47 states. The network has a...

  • Tucson Mayor Candidate Fights HMO Costs with Plan for a Health-Care Credit Union

    TUCSON, Ariz. - Democratic mayoral candidate Tom Volgy here is revealing more about his plans to launch a "health-care credit union" that would pool employees from the public, private and nonprofit sectors into a health care purchasing group with the aim of lowering health insurance costs. Credit Union Times first...

  • California Fires Insurance Claims Over 5,000 and Counting

    NEW YORK - The Insurance Information Institute (III) reports so far a total of 5,980 claims have been filed from the southern California wildfires. In addition up to 2,000 homes have been damaged or destroyed by the southern California firestorms. According to III, the wildfires are expected to be at...

  • Billion Dollar OmniAmerican Credit Union Launches Trust Services

    FORT WORTH, Texas - OmniAmerican Credit Union joins a growing list of credit unions that have recently added trust services to their financial offerings. OmniAmerican Trust Services' October 27 launch was prompted by "repeated requests" for traditional trust and estate services from its members, said Larry Duckworth, president/CEO of OCU....

  • Fed Targets Year-end for Check 21 Proposed Regulation

    WASHINGTON-The Federal Reserve Board began developing the implementing regulations of the Check Clearing for the 21st Century Act (Check 21) less than a week after it was signed into law. As the proposed regulation is being drafted, CUNA has been invited by the Fed to provide input on the language....

  • CU Marketing University Kicks off 2004

    TEMPE, Ariz. - Next year school is in for credit union marketing professionals. Created by LEMMON-AID Marketing Services and LemmonTree Consulting Group with an advisory group that includes university professionals and credit union industry executives, Credit Union Marketing University will make its debut in February. The week-long program focuses on...

  • Central Florida HealthCare FCU Granted TIP Charter; Only Second So Far

    ORLANDO, Fla.-NCUA has approved Central Florida Healthcare Federal Credit Union for a TIP-Trade, Industry or Profession-common bond. CFHCFCU, with 12,000 members and $50 million in assets, is the first health care industry credit union in the nation to be granted a TIP charter and only the second TIP to be...

  • Credit Union Exec Turned Banker Happy With The Move

    ARLINGTON, Va. - Hans Ganz, CEO of First PacTrust Bancorp Inc, a $531 million institution that used to be Pacific Trust Credit Union, told an audience at a financial services conference sponsored by the investment banking firm Keefe, Bruyette and Woods that he strongly backed his institution's decision in January...

  • Corporate Central CU to Assist Low-Income CUs

    HALES CORNER, Wis. - The $1.5 billion Corporate Central CU is providing special assistance to its member credit unions that are designated as low-income by NCUA. The assistance is to help newly chartered credit unions with the low-income designation to offer their members services they otherwise might not as new...

  • CO-OP Network Offers Patriot Product

    ONTARIO, Calif. - CO-OP Network, the nation's largest credit union owned surcharge free ATM network, has seen a growing number of credit unions use the Identity Chek Web, a product provided by Primary Payment Systems, to meet their obligations under the USA Patriot Act. CO-OP partnered with PPS to offer...

  • Maine Credit Unions Go with CUSC For Shared Branching

    ATLANTA - The Maine Credit Union League has signed with Credit Union Service Corporation to provide its member credit unions with a network for shared branching services. CUSC is the Atlanta-based national shared branch network which has a substantial amount of league participation. The initial expansion of Maine locations will...

  • Kudos at Cedar Point; Abernathy Stops By to Recognize CU's Retirement Planning Efforts

    LEXINGTON PARK, Md. - It's pretty exciting when high-ranking Treasury officials stop by the credit union to pay tribute to the CU's retirement planning efforts - that's just what happened at Cedar Point FCU recently. The CU was presented with a certificate from Treasury Assistant Secretary for Financial Institutions Wayne...

  • Robert Harvey Named CUES 2003 Executive of the Year

    SEATTLE - Robert Harvey, president and CEO of Seattle Metropolitan Credit Union has been named Executive of the Year by the Credit Union Executives Society. CUES recognized Harvey at its CEO Network meeting in Naples, Fla. on Nov. 2. "Bob Harvey is an outstanding executive and he richly deserves this...

  • Columbia Credit Union Stays Local in Selection of Trust Services Provider

    VANCOUVER, Wash. - Members of Columbia Credit Union will now have access to trust services through Allen Trust Company, the only local independent trust firm here with a national charter operating in Washington and Oregon. The credit union recently hired Richard Van Hoose as vice president of trust services. Hoose,...

  • New $20 Bills Suffering Early Problems

    WASHINGTON - The newly redesigned colorful $20 bills that went in to circulation Oct. 9 and were touted by the federal government to have been designed to stem counterfeiting, are already running in to problems as consumers are finding out that the new bills aren't working at automated payment machines,...

News

News Briefs

  • Two More Faith-Based CUs Top $10 Million

    NEW YORK - They might be a world away from the steadily lengthening list of credit unions topping $1 billion, but the National Federation of Community Development Credit Unions wanted to draw attention to two of its members which have made it past a key benchmark for faith-based institutions -...

  • Credit Union CEO Wins Senate Race in Mississippi

    MARKS, Miss. - Robert Jackson, CEO of the Quitman Tri-County Development Corporation as well as Treasurer of the Quitman Tri-County FCU and an officer with the National Federation of CDCU has won a landslide victory for a seat in the state Senate in Mississippi. Jackson, a Democrat, won his race...

  • NASCUS Search Committee Initiates Procedures to Find New President/CEO

    ARLINGTON, Va. - A seven-member search committee made up of four NASCUS Regulator Board members and three Council Board members has begun the process of taking applications and evaluating candidates to fill the position of president/CEO of NASCUS. Doug Duerr occupied that position, but he was dismissed on July 29....

  • Liberty Enterprises Makes $10,000 Donation to California Wildfires Fund

    MOUNDS VIEW, Minn. - Liberty Enterprises has donated $10,000 to the newly created California Wildfires Fund that was announced October 30 by the California Credit Union League. The fund, established by the National Credit Union Foundation, will aid credit union victims of the recent Southern California wildfires. "Our donation goes...

  • Mountain America CU Granted SBA Top Lending Status

    SALT LAKE CITY - Mountain American has received a Preferred Lender status by the Small Business Administration, the highest license issued to lending institutions by the SBA. To obtain this license, lenders must illustrate expertise in SBA rules and regulations, as well as be able to demonstrate a good volume...

  • Abrams Out at Vista

    BURBANK,Calif. - Vista Federal Credit Union President/CEO Stan Abrams is no longer with the credit union. The board of the $315 million Vista FCU has named Rick Skaggs, the CU's EVP/COO, as interim CEO. Few details of Abrams' departure are known. The credit union offered this official statement: "Stan has...

  • California Coast CU Sets Up $100,000 Relief Fund

    SAN DIEGO - California Coast Credit Union has created a $100,000 relief fund for members who lost their homes in the recent southern California wildfires. "The tragedy of these devastating wildfires has touched all of us in San Diego in some way," said CCCU President/CEO Jim McPheters. "We are here...

Briefs

  • GE Mortgage Insurance Contributes Towards Creation Of Center for the Study of Residential Real Estate Finance

    RALEIGH, N.C. - GE Mortgage Insurance contributed $100,000 to The North Carolina Central University Foundation to help create The Center for the Study of Real Estate Finance at the university, the first public liberal arts institution in the U.S. founded for African Americans The new facility will assist in educating...

  • Internet Homebuyers Buying Pricier Homes

    LOS ANGELES - Consumers who use the Internet as an integral part of their home-buying process are not only doing so to save time, but are willing to pay higher prices for their new abodes. According to the "Internet Versus Traditional Buyers Survey" conducted by the California Association of Realtors,...

  • HUD to Make "Sweat Equity" Grants to Low-Income Family Homeowners

    WASHINGTON - The Department of Housing and Urban Development plans to make $25 million in "sweat equity" grants to low-income families that contribute at least 200 hours of their own labor to building or rehabilitating their own homes. HUD will award the $25 million to three organizations based on their...

  • Native American Housing Enhancement Bill Introduced

    WASHINGTON - Sen. Tim Johnson (D-South Dakota) introduced on Oct. 30 his Native American Housing Enhancement Act of 2003 (NAHEA), a five-pronged bill to foster housing development in Indian Country. "We must continue to break down barriers to homeownership and housing development in Indian areas, creating the sort of economic...

  • Women's Mortgage Industry Network Launches Initiative To Increase Number of Single Women Homeowners

    WASHINGTON - The board of directors of the Women's Mortgage Industry Network (WMIN), a national organization made up of leading women from several of the largest mortgage companies in the U.S., has released an action plan to address the substantial gap in the homeownership rate of single women with children...

  • HUD/FHA Implements "Appraiser Watch" Monitoring System

    WASHINGTON - As part of its on-going efforts to curb predatory lending, the Department of Housing and Urban Development announced its risk-based appraiser monitoring system - Appraiser Watch - is now fully operational. Using Appraiser Watch, HUD's FHA will be better able to identify appraisers who either knowingly or unintentionally...

  • HUD Streamlines Mortgage Insurance Certificate Process

    WASHINGTON - The U.S. Department of Housing and Urban Development on Oct. 20 announced that it will no longer issue paper Mortgage Insurance Certificates (MIC) with the endorsement of a single family mortgage for insurance. The agency said the decision "is another step in the Department's initiative to expand its...

Opinion

Letters to the editor

  • Matricula Cards Are Legal

    In reference to Mike Welch's Sept. 17 Column, "Are Matricula Consular Cards Good or Bad?" I offer this perspective: The U.S. Patriot Act says credit unions need to see ID (of any kind of photo identification from any country) and need to know the true identity of the person -...

  • NCUF Will Still Make Grants

    I would like to provide a bit of clarification to David Morrison's Oct 29, 2003 story on the National Credit Union Foundation, "NCUF Getting Out of the Grant Business, Letting State Arms Take Over." While our board has decided on a new grantmaking strategy for 2004, as accurately reflected in...

Publisher's Column

  • Merger of CUNA and NAFCU Not Good Idea

    Dan Mica, CUNA's very successful and highly respected CEO and President, has set many lofty personal goals in his ongoing efforts to make the industry's largest trade group a "world class trade association." He has made a remarkably high percentage of his goals. There is little comparison between CUNA pre-Mica...

Staking Out the Stats

  • Staking out the Stats

    As more consumers take advantage of record low interest rates by moving into new homes or making additions to their existing homes, the Insurance Information Institute (III) reports that rising construction costs and increasingly expensive natural disasters are expected to push the cost of homeowners' insurance up. According to the...

People

  • IN MEMORIAM

    Michigan First Credit Union, Detroit, has announced that former board president Dr. Eloise Anderson has died. She began her service to the credit union in 1962 as a member of the Supervisory Committee and was an active member for more than 35 years. In 1966, Dr. Anderson was the first...

  • MIDWEST

    Heritage Credit Union, Madison, Wis., has named Anita Rauch senior vice president/chief operating officer. Indiana Credit Union League, Indianapolis, has elected the following officers to its board: Roger Sepanski, chairman; Angela Dufour, vice chair; Jenny Budreau, treasurer; and Jeanette Moeller, secretary. In addition the Indiana CUL has named Loren Roth...

  • WEST

    Lacamas Community Credit Union, Wash., has appointed Kathleen Romane President/CEO. Wescom Credit Union, Pasadena, Calif., has promoted the following employees: Jane Wood to executive vice president of operations; Joel Chavarin to senior vice president of member services; Elizabeth Peters to vice president/controller; and Connie Knox to vice president of investment...

  • SOUTH

    IBM Southeast Employees Federal Credit Union, Boca Raton, Fla., has elected Stephanie Stevens supervisory committee director. Alabama Telco Credit Union, Hoover, has named Lynn Middleton Center Point branch manager.

Billlionaires Club

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