WASHINGTON -- CUNA and the American Association of Credit Union Leagues announced last week that Patricia Sowick has been named the new vice president of league relations.

"It was clear that Pat's broad experience in senior management at CUNA, her strong political background, her outstanding interpersonal and leadership skills as well as commitment to member service made her a terrific fit for this position," Susan Newton, executive director of AACUL and CUNA senior vice president for league relations, said.

Formerly vice president/Washington operations for CUNA, Sowick was responsible for overseeing the human resources, IT, office management and facilities staff in the association's national capital offices. She also managed the staff and operations for Credit Union House, which is owned and directed by the Leagues. Sowick serves as the Credit Union Legislative Action Council treasurer and has worked closely with CUNA's political affairs department.

She joined CUNA in 1997 after more than 15 years of government service, including four years as a legislative assistant to Congressman Ray McGrath (R-N.Y.). Sowick also served as congressional liaison for a variety of federal government broadcasting agencies, including the Voice of America, Radio Free Europe/Radio Liberty, Board for International Broadcasting and International Broadcasting Bureau.

Sowick succeeds Scott Earl, who is now president/CEO of the Arizona Credit Union System.

Fitch Rates CUNA Mutual's Restructuring 'Very Strong'

MADISON, Wis. -- CUNA Mutual Group's operational restructuring recently earned strong ratings from Fitch Ratings, the company said.

The "AA-" (Very Strong) rating and "Stable" outlook apply to the principal companies of CUNA Mutual Insurance Society: CUMIS Insurance Society, Inc., a property and casualty subsidiary and affiliate CUNA Mutual Life Insurance, which is expected to merge with CUNA Mutual Insurance Society by year-end.

In reaffirming the "AA-" rating, Fitch recognized CUNA Mutual's strong relationships and market position within the credit union marketplace and good overall balance sheet fundamentals, CUNA Mutual said. Fitch also identified concern over the decreasing number of credit unions and increased price competition among insurers serving the credit union marketplace.

"We find it encouraging that Fitch views favorably our operational restructuring," said Jeff Holley, executive vice president/CFO, CUNA Mutual. "Our three-year transformation is focused on preparing the company for the future--including positioning CUNA Mutual for expansion into new markets that can support growth for the company and credit unions."

Fitch said CUNA Mutual's improvements in year-to-date 2007 results are "a reflection of better commercial fidelity product results, investment returns and direct financial results from the operational restructuring."

DFCU Financial Members To Receive Record $17 Million Dividend

DEARBORN, Mich. -- DFCU Financial announced on Oct. 23 that it is issuing for the second consecutive year an annual dividend in excess of $17 million--one of the largest dividends in the history of the credit union industry.

Nearly 134,000 people will receive a dividend payment; 125,000 of which are Michigan residents, the $1.8 billion CU said. The 2006 dividend was the first patronage dividend given to members in more than 20 years.

Eligible members will receive a 0.5% dividend on their 2007 average loan and deposit balances. Though the amount paid depends upon balances, each eligible member will receive at least $50, which will be deposited to members' accounts the week of Jan. 7, 2008.

"Given the continuing economic challenges our state is facing, the DFCU Financial Federal Credit Union board of directors is pleased to provide this patronage dividend to members as an added benefit of membership at Michigan's largest credit union," said Mark Shobe, president/CEO of DFCU Financial.

DFCU Financial said it has invested more than $50 million in southeastern Michigan since 2003 through branch expansions, jobs creation, dividends and investments in our schools and communities. On Nov. 5, the credit union will open its 12th branch in Madison Heights with more expansion planned for 2008 and 2009.

"The entire DFCU Financial team has worked very diligently to establish an efficient credit union that is able to give back to its members," Shobe said. "While it is not guaranteed, it is our intent to keep issuing dividends annually. This is a benefit to our members and a boost to our local economy."

CULA Announces Hybrid Vehicle Residual Values And Leases

SAN DIEGO -- Beginning in November, Credit Union Leasing of America (CULA) will begin leasing hybrid vehicles after the release of residual values for hybrid vehicles on CULA consumer leases, commercial leases, and consumer balloon loans.

According to hybridcars.com, the hybrid has been available to consumers at different points in history since the late 1800's but it has taken CULA until 2007 to finally begin leasing hybrid vehicles. CULA waited on leasing hybrid vehicles due to unknown resale values. "We knew it was going to take some time to see how the hybrid vehicles preformed related to remarketing," stated Greg Gandolfo, vice president of business development at CULA. "Now there is enough historical evidence which supports adding hybrid vehicles to CULA's program offerings."

All 2007 and 2008 hybrid vehicle makes and models will be available on CULA's three alternative finance programs in November for both indirect and direct lending markets. For more information on CULA's programs, contact the Business Development Department, at 800-878-5400, x302.

Thinking 'Outside the Bank' Earns NJ Gateway FCU Accolades

MONMOUTH JUNCTION, N.J. -- NJ Gateway Federal Credit Union recently walked away with the New Jersey Credit Union League's first place award for its 2007 "Think Outside the Bank. Think Credit Union." advertising campaign.

Created by NJ Gateway Vice President Administration/Marketing Pat Darcey and designed by Princeton-based Red Wolf Design Group, the winning concept was developed to create awareness about the many benefits offered by credit unions. Media included regional newspaper and community theater playbill ads, direct mail postcards and payroll envelope stuffers.

"If our budget had allowed, I would have used this theme for outdoor advertising as well," said Darcey. "I believe the message is clear and strong enough to be successful in that medium."

NJ Gateway FCU was also the 2007 3rd place recipient for best Web site design and the 2006 first place recipient for GATEWAYS, its quarterly newsletter, both also presented by the New Jersey Credit Union League.

In what turned out to be a happy coincidence, NJ Gateway Board Chairman Robert Phillips accepted the award from NJ Gateway FCU CEO and NJCUL Chairman Rina Pantano at the NJCUL convention in Atlantic City.