• Connecticut's Stamford Municipal Employees FCU converts to state charter

    STAMFORD, Ct. - Stamford Municipal Employees FCU was approved by the state Department of Banking to convert to a state charter. The credit union will be known as Stamford Credit Union. It is the first federal-to-state charter conversion to be approved by the Department of Banking since the former Sikorsky...

  • DONATIONS

    Heritage Community Credit Union, Sacramento, Calif., has raised $1,608 for Families United, a non-profit foster family agency that recruits and trains foster parents to care for children whose families can no longer do so. Families United also provides counseling services for the children and their foster families. To raise the...

  • Take expanded incidental powers slowly, advises NACUSO's Dorsa

    NEWPORT BEACH, Calif. - NACUSO President Bob Dorsa prefers to look at the glass half full when it comes to federal credit unions' expanded incidental powers. When he reflects on the NCUA Board's unanimous decision at its July 26 meeting to allow federal credit unions to apply for and add...

  • Social fund assets in the U.S. may top a trillion dollars over next decade, study reports

    NEW YORK - On Aug. 8, 1971, two ordained ministers, a lawyer and a businessman launched the first socially responsible mutual fund, the Pax World Fund, which is now the Pax World Balanced Fund. Pax World Funds celebrated its 30th anniversary on Aug. 9 by issuing a report on the...

  • CUES to conduct its first-ever credit union staff salary survey

    MADISON, Wis. - CUES' credit union executive compensation survey is well-known, but now the association said it is going to conduct its first-ever salary and bonus survey of credit union staff positions. CUES will partner with Survey Research Associates LLC, Madison, Wis., to survey more than 80 CU staff positions....

  • Dollar plans proposal to cut staff by 4%

    ST. PETERSBURG, Fla.-Acting NCUA Chairman Dennis Dollar told a group of agency managers last week that he would strive for a minimum 4% reduction in NCUA staffing. As autumn draws near, it's once again time for NCUA to consider its budget, which could be considerably affected by the move. Earlier...

  • 401k balances remain unchanged despite volatile markets, study reports

    WASHINGTON - The average account balance for participants in 401(k) plans in both 1999 and 2000 has remained essentially unchanged, according to a recent report by the Investment Company Institute (ICI) and the Employee Benefit Research Institute (EBRI). At year-end 2000, the average account balance of the 8.3 million individuals...

  • Paid staff avoid controversy

    Mike Welch's July 25th publisher's column on the lack of controversy at credit union conferences was right on. In my personal opinion, the reason so many conferences are now "sterile" and civilized, with less spirited discussion of issues, is because volunteers are disappearing from leadership roles and the paid staff...

  • Treasury provides guidance on fraud prevention regarding tax rebate checks

    WASHINGTON-The U.S. Secret Service Financial Crimes Division, a division of the Treasury Department, issued a memo to the Office of the Comptroller of the Currency to be distributed to all member institutions on fraud prevention with the issuance of the tax rebate checks. The memo warns financial institutions that cash...

  • CREDIT UNION TIMES, Vol. 7, No. 34, August 21, 1996

    Looking back five years ago finds credit unions able to offer their employees 401(k) retirement plans. "When we realized Congress, and particularly House Ways and Means Chairman Bill Archer (R-Texas), were definitely intent this year on moving ahead with 401(k)s for nonprofits, our staff and many leagues jumped right in...