X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MILWAUKEE – So, what happened to the credit union that was founded by Rep. Gwen Moore (D-Wis.), the legislator who initially backed CURIA but then withdrew her support? According to several legislative tracking Web sites, Moore founded Cream City Community Development Credit Union while serving as a VISTA volunteer. According to an article in the October 2005 issue of Essence magazine, an incident involving “the exorbitant interest rates” from a local rent-to-own center “angered her enough” to “mobilize her community to march on banks” and organize a CDCU. It appears that credit union would go on to merge with First Service CU, said John Udvare, president/CEO, who said the merger took “place before his time” and suggested calling Bob Fouch, president/CEO of Corporate Central CU, who was CEO of First Service when the merger occurred. “We merged the credit union with us at the time but I can’t recall the details surrounding why,” Fouch said, adding he was fuzzy on the merger year. A spokeswoman from the Wisconsin Credit Union League said Cream City was a member back in 1987 but their records list it as Cream City Community FCU and it merging with First Service. A search on NCUA’s site produced no hits. According to Rafael Morales, communications officer at the National Federation of Community Development Credit Unions, there is no record of the credit union being a member. Suzanne Cowan, director of the Office of Credit Unions, Wisconsin Department of Financial Institutions, also checked back to 1965 but didn’t turn up anything. Udvare, who said he would have to go back and look at minutes to see if there were any details surrounding why Cream City was merged into First Service, did not have the information available by press time. Several calls to Moore’s offices over the past few weeks were not returned. [email protected]

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.