CUs Increasing Training Budgets
MADISON, Wis.-The amount of money credit unions are budgeting for training is increasing, according to the 2008-2009 Staffing and Space Survey published by CUNA's Center for Research and Advice. The study found that 70% of credit unions with $10 million or more in assets have a 2008 training budget, up from 64% in 1999. Among these credit unions, the average 2008 training budget was $46,561-a substantial increase over the average $26,348 budget reported in the 1999 study. CUNA found training dollars were distributed fairly evenly in 2008, with 35% allocated to management, 36% to non-management employees, and 29% to train volunteers.
For info: advice.cuna.org or call 800-356-8010, press 3.
Kutchey Named Deputy Director
ALEXANDRIA, VA.-John Kutchey has been appointed deputy director of the Office of Examination and Insurance (E&I).
Kutchey most recently served as director of risk management in E&I. As Deputy Director, Kutchey will assist Examination & Insurance in overseeing the agency's supervision and examination program, risk management and data collection programs.
Kutchey joined NCUA in 1990 as an examiner in Baltimore. During his career with NCUA, he has served as a Problem Case Officer, Supervisory Examiner, Director of Supervision in Region II, and Director of Risk Management.
Kutchey graduated Magna Cum Laude from the University of Baltimore in 1990 with a bachelor's degree in business administration and a concentration in accounting.
The Heat Is On Thanks To CU
LEOMINSTER, Mass.-With winter on the somewhat distant horizon, Leominister Credit Union is getting its members ready to pay heating bills that could be as much as 30% higher than last year by starting a new Home Heating Loan program. The average household heating oil bill could hit as high as $3,000 for Massachusetts residents, a sum that could pose problems for working families. The CU has committed to making up to $1 million available to its members through this program, which is aimed at removing any uncertainty about paying heating bills.
For info: www.leominstercu.com.
Redstone Ranked Top SBA Lender
HUNTSVILLE, Ala.-Redstone Federal Credit Union has been recognized as the top SBA lender in the state, based on the number of loans approved this year through July. Small Business Administration loans are federally-backed loans given to businesses that are otherwise unable to secure financing; Redstone, a $2.4-billion credit union, was approved to be a statewide SBA lender in 2003.
"Small businesses are very important to the economy here in Huntsville and the Tennessee Valley," said a Redstone vice president. "Huntsville has been recognized as one of the best cities in the nation for entrepreneurs and the economy is strong in this region."
For more info: www.redfcu.org
Legacy Gifts Fund Intro'd
MADISON, Wis.-The Filene Research Institute has introduced a Legacy Gifts Fund designed to support the "long-term research and innovation activities of the credit union community."
Filene Research Institute said the fund offers a number of methods for participation, including memorials and honorariums, gifts through a donor's will, retirement funds, life insurance, and financial accounts, and cash donations.
For info: Lois Belekevich, Director of Membership, at 608-231-8552 or loisb
