State Lawmakers Offered 0% Loans During Impasse
SPRINGFIELD, Ill.-Credit Union 1 is offering 0% loans to state lawmakers who won't be getting their $5,700 monthly paychecks starting this week as they grapple with the governor over another budget crisis. Legislators who are members of the credit union can get a 60-day loan worth up to half their $68,000 salary for 0% interest. Credit Union 1 lawmakers aren't getting special treatment as it has offered similar loan terms to state workers during past budget disputes and to union members when there's a labor strike.
SECU of Maryland Buys Arena Naming Rights
TOWSON, Md.-State Employees CU of Maryland has entered into a naming rights deal for Towson University's new $62 million arena, located about 15 miles from the CU's Linthicum headquarters. The SECU name and logo will appear on the basketball court, and on electronic signage in and outside the 5,200-seat arena, which has been known as Tiger Arena.
Visa, MasterCard Agree To Common Debit Solution
FOSTER CITY, Calif. and PURCHASE, N.Y.-Visa and MasterCard last week said they have agreed to license their respective common U.S. debit solutions to each other to meet the industry's need for a streamlined approach to route U.S. chip debit transactions over multiple, unaffiliated networks. Visa and MasterCard have made certain proprietary EMV chip technologies available to each other and other networks, enabling a debit chip transaction originating from a single chip application to be routed by the merchant to Visa, MasterCard or any other U.S. PIN debit network that elects to participate in these same solutions.
2,090 CUs Go Paperless
MADISON, Wis.-Some 2,090 credit unions have now signed up for CUNA Mutual Group's Go Paperless campaign and in the process will save 750,000 pages of paper annually-the equivalent of 90 trees. The campaign has also generated a $10,450 contribution from CUNA Mutual to the National CU Foundation as a result of a $5 donation for every CU that signed up through June 30.
New HQ Modeled On Airplane
WINSTON-SALEM, N.C.-A new 40,000 square-foot headquarters for $345 million Piedmont Advantage CU, the credit union for US Airways employees, will feature an atrium that looks like an air traffic-control tower and drive-thru teller lines shaped like airplane wings in celebration of the credit union's heritage.
Kelsey Named Exceptional Leader
MADISON, Wis.-The Credit Union Executives Society last week named William "Willy" K. Kelsey, EVP/COO with Texas Trust Credit Union in Mansfield, Texas as its 2013 CUES Exceptional Leader award winner. Among the many accomplishments during his 24-year career, Kelsey headed efforts to restructure the mortgage department at Texas Trust. Kelsey will be honored at CUES' CEO/Executive Team Network, Nov. 3-6, at the Rancho Bernardo Inn in San Diego.
Card Breach Affects Other CUs
NORTH HIGHLANDS, Calif.-Another credit union in the Sacramento, Calif., market reports that it, too, has been affected by a cards breach at Raleys Supermarket chain. Henry Wirz, CEO of SAFE Credit Union, said his CU also has had members whose cards were affected and which have had to be reissued. But the number of members affected at SAFE is smaller than at Redwood Credit Union, where some 200 members reported unauthorized activities. In Redwood's case, it has reissued 18,000 cards. SAFE has reissued 30,000 debit cards and another 1,000 credit cards. Members at SchoolsFirst FCU, Dow Great Western CU and Members 1st CU have been reporting similar issues.
