ON DEADLINE

Published September 12, 2008, 1:41 p.m. EDT

Updated August 27, 2020, 1:03 a.m. EDT

3 Min Read

Ike Forces Evacuations, Branch Closures

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DALLAS-As Hurricane Ike zeroed in on the Lonestar State's coastline late last week, credit unions in the storm's path scrambled to batten down the hatches and get out of town if necessary. Texas Credit Union League president Dick Ensweiler said that nearly 100 credit unions and their 800,000 members were in Ike's path as it churned through the Gulf of Mexico. More than a tenth of the state's entire credit union membership were expected to face the fury of the major hurricane over the weekend.

"We have plans in place to handle the challenges hurricanes bring," he added in a statement, which reminded members that deposits up to $100,000 are secure by NCUSIF.

A number of CUs, including Mobiloil FCU, shut down branches as early as Thursday as they were forced to leave the area due to a mandatory and voluntary evacuations ordered by Gov. Rick Perry's office. Branch operations for several credit unions in those areas were to be restored by Monday. As members and credit unions alike begin to recover from Ike's weekend landfall, the Texas league reiterated its preparedness to "serve as a valuable resource" for all CUs across the state.

Nielson To Succeed Dames At Mountain America CU

SALT LAKE CITY-The board of Mountain America CU announced it has promoted Sterling Nielson to succeed Gordon Dames as president and CEO of the $2.8-billion credit union.

Dames, who has headed the state's second-largest credit union for 16 years, is retiring Dec. 31. He built the credit union from $280 million in assets and 13 branches to a projected $3 billion by year-end and 60 branches in Utah, Arizona, New Mexico and Nevada.

Nielson has been EVP, chief administrative officer of Mountain America prior to this appointment. He joined Mountain America in 1995.

Before joining Mountain America, Dames was president of San Diego County CU from 1983 to 1991. He was a principal examiner for the NCUA for 12 years before that.

Savings Contest Targets Students

EL PASO, Texas-GECU is launching the third round of its popular Savings Challenge, but instead of focusing on families, this year's round will be geared toward teaching college students the basics of personal finances.

Last year, two families won $10,000 and four families $2,500 each, as part of Greater El Paso Credit Union's Savings Challenge.

This year, six college students will compete for a grand prize of $10,000, while the others will get $2,500 each for participating. Prize money will go toward paying college expenses and existing debt. No more than 10% will be paid in cash that the students can spend.

Applicants must submit a video audition not more than five minutes long. Two public auditions will be held.

'Blue Collar Bandit' Sought

FORT LAUDERDALE, Fla.-Police are searching for a hard hat-wearing robber who has held up four area credit unions in recent weeks, three of them branches of Eastern Financial Florida CU.

The robber, who usually wears a hard hat, a safety vest and dark glasses, has been dubbed the Blue Collar Bandit.

The bandit waits in lobby areas, letting other members in line go ahead of him until there is nobody around, according to police. He typically gives the teller a note demanding money and warning that he has a gun.

He is believed responsible for the June 27 robbery at Broward Healthcare FCU in Fort Lauderdale; and hold-ups on July 18, Aug. 6 and Sept. 5 at branches of Eastern Financial Florida.

The FBI warns that the robber is armed and dangerous and may have an accomplice who acts as a getaway driver.

Redstone Offers 'Xtreme ATMs'

HUNTSVILLE, Ala.-Redstone FCU said it has opened its fourth Xtreme ATM, this one at its headquarters branch.

The Xtreme ATM allows members to deposit cash or checks without an envelope and receive an image receipt of their check or cash deposit. Enhanced features on all five Xtreme ATMs include a "no hold" on cash deposits and "immediate credit" to an account.

The $2.4 billion credit union also has enhanced the features of three existing Xtreme ATMs, and is scheduled to open a fifth Xtreme ATM at its South Parkway branch office in October.