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Buying Spree: OSI Acquires Remittance Specialist Omega Systems

Peter Westerman | August 03, 2004

GLASTONBURY, Conn. - Open Solutions Inc. is continuing its acquisitive ways, this time buying remittance/lock box specialist Omega Systems Corp. of North America for $2.5 million in cash. The Dryden, N.Y., company will become part of OSI's imaging and item processing business unit, imagic, as OSI, like other firms in...

DONATIONS

Peter Westerman | August 03, 2004

Pacific Service Credit Union, Walnut Creek, Calif., donations have helped enable Sonoma County Regional Parks Foundation to provide a summer education and leadership program for disadvantaged youth ages 6 to16. The SAFE Summer/Swim Safe program is offered free of charge to children from low-income neighborhoods in Santa Rosa in collaboration...

The Disclosure Statement

Peter Westerman | August 03, 2004

The following is the proposed statement, with formatting, that NCUA proposes that all credit unions seeking to convert include prominently in their conversion communications with members. The National Credit Union Administration, the federal government agency that supervises credit unions, requires [insert name of credit union] to provide the following disclosures....

FAIRWINDS CU Makes Billion Dollar Cut

Peter Westerman | August 03, 2004

ORLANDO, Fla. -FAIRWINDS Credit Union is the latest member of the credit union billion dollar club. In just five years the credit union has nearly doubled its assets and now serves some 115,000 members. The milestone was celebrated by FAIRWINDS "crewmembers" at the Ballroom at Church Street in downtown Orlando....

NCUA Continues to Clarify Waivers for State Member Business Lending Rules

Peter Westerman | August 03, 2004

ALEXANDRIA, Va. - The Texas Credit Union Department recently sought clarification on its authority to apply a general lending rule to waive requirements found in the state's member business lending rule. In a July 9 opinion letter to Harold Feeney, the state's commissioner, NCUA Associate General Counsel Sheila Albin wrote...

Private Insurer ASI Adds $647 Million Silver State Schools CU to Fund; ASI's Second Largest CU Client Behind Patelco

Peter Westerman | August 03, 2004

LAS VEGAS - Nevada's largest state chartered credit union converted from federal insurance to private insurance, becoming American Share Insurance's second largest client. Silver State Schools Credit Union, with $647 million in assets, is the third credit union to join American Share Insurance this year. ASI President and CEO Dennis...

Lawmakers Kick Off August Recess with DNC, End with RNC

Peter Westerman | August 03, 2004

WASHINGTON - Members of Congress fled Washington, D.C. last week for the start of the August recess, which is typically used for district work. The Democrats are spending their first week outside the Beltway in Boston for the Democratic National Convention, where representatives of the credit union movement are taking...

MGI Taps Hartung to Head Madison Operations

Peter Westerman | August 03, 2004

MADISON, Wis - Malahat Group International (MGI), the advertising agency behind the national brand campaign for America's Credit Unions since 1998, is moving into Madison with former CUNA Director of National Marketing Annette Hartung. Hartung is the new U.S. Account Director for the 26-year-old agency, which has done work for...

CU Leagues to Descend on Washington During `National Hike the Hill' Month

Peter Westerman | August 03, 2004

WASHINGTON - CUNA has designated September as `National Hike the Hill' month, and CUNA's tallies at press time show more than 40 state credit union leagues have indicated they will be bringing representatives to Washington for the month-long event. The focus on September's `National Hike the Hill' will be to...

NCUA Issues Reg Alert on Blocked Persons List Updates

Peter Westerman | August 03, 2004

ALEXANDRIA, Va. - Last week, NCUA alerted credit unions to changes to Treasury's Office of Foreign Assets Control's Specially Designated Nationals and Blocked Persons List. "All credit unions remain responsible for ongoing review of the SDN list, which includes both individuals and countries," Regulatory Alert 04-RA-10 read. A current SDN...

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Buying Spree: OSI Acquires Remittance Specialist Omega Systems

DONATIONS

The Disclosure Statement

FAIRWINDS CU Makes Billion Dollar Cut

NCUA Continues to Clarify Waivers for State Member Business Lending Rules

Private Insurer ASI Adds $647 Million Silver State Schools CU to Fund; ASI's Second Largest CU Client Behind Patelco

Lawmakers Kick Off August Recess with DNC, End with RNC

MGI Taps Hartung to Head Madison Operations

CU Leagues to Descend on Washington During `National Hike the Hill' Month

NCUA Issues Reg Alert on Blocked Persons List Updates

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