News

The Ohio Credit Union League, pressing its emphasis on legislative advocacy, is undertaking a revamp of its annual meeting format to include a Columbus “Hike the Hill” at the yearly conclave.

Despite the back-office burden of handling thousands of pennies for a local charity drive, Terry Belcoe, president/CEO of the $137 million North Coast Credit Union in Bellingham, Wash., insists his CU is showing the way in demonstrating community commitment.

Around Valentine’s Day three years ago, holders of auction rate securities fell completely out of love with the debt instruments, causing a market freeze and a slew of lawsuits against the banks with claims of misrepresentation. The fallout continues.

After hearing both sides, a Financial Industry Regulatory Authority panel recently denied all claims made by the estate that was seeking more than $2 million against an investment adviser that worked for a broker-dealer acquired by SECU Brokerage Services Inc.

With gas prices continuing to climb, members who got caught in the big truck mania years ago are probably regretting their purchases as they shell out hundreds of dollars for fuel each week.

With the exception of an impromptu clash over the credit union tax exemption, the Federal Reserve Bank information seminars that joined credit union and community bank CEOs finished the month with a wary but shared camaraderie.