CEFCU, Peoria, Ill., announced that a record extraordinary dividend of $9 million has been distributed to CEFCU members. The dividend was based on members’ savings and loan activity during, with $4.5 million going to borrowers and $4.5 million going to savers.
As the recession snaked its way into the economy in 2008, credit unions braced for the impact it would have on members in unemployment, rising debt and underwater mortgages.
Lending solution provider CU Direct Corp. said its board of directors recently approved a 3% cash dividend to its 102 shareholders.
To help credit unions and members affected by Hurricane Sandy, CU Direct Corp. said it has donated $10,000 to CUAid.
The $3 billion Catalyst Corporate FCU announced Oct. 29 the completion of its purchase and assumption of the Phoenix-based First Corporate Credit Union, a so-called pass-through corporate that struggled to gain enough scale to replace services provided by U.S. Central FCU.
Forty two of the 48 former FirstCorp members elected to stick with Catalyst, a number the Plano, Texas-based corporate said exceeded the expectations.
Northern Credit Union in Sault Ste. Marie, Ontario, has joined the 46 other organizations certified to create custom core extensions for Open Solutions Inc.’s DNA platforms.
The Credit Union Executives Society has named Martin D. Gillis, board chairman at Windsor Family Credit Union, Windsor, Ontario, as the 2012 CUES director of the year.
A 36-year veteran of the Canadian credit union industry wins top honor; five American credit union directors added to Volunteer Hall of Fame.
Just like the 14,000 member credit unions it supports, the World Council of Credit Unions in Madison, Wis., must intermittently reevaluate its structure and programs in order to best meet the needs of those it serves.