CU Trade Groups Remind Congress of CU Loans
WASHINGTON-Both CUNA and NAFCU last week took steps to ensure members of Congress are aware credit unions are making loans and that loan volume has actually increased during 2008. The outreach was prompted by hearing related to the U.S. Treasury Department's Troubled Asset Recovery Program (TARP), during which several members of Congress remarked that constituents are having difficulty get small business and other loans from banks. In his letter to Congress, CUNA CEO Dan Mica noted that "I want to assure you that credit unions continue to lend, even in these difficult times. Total lending by credit unions continued to rise through October...Moreover, through September, the fastest growing type of credit union lending was business lending."
Video Of First Day of U.S. CU Is Now Available
WEST PALM BEACH, Fla.-Video of the re-enactment of the creation of, and then initial deposits into, the first credit union in the United States is now available on www.cujournal.com. This extraordinarily unique re-creation is in commemoration of the 100th anniversary of credit unions in the United States and was filmed in the same office, with many of the same furnishings, where the first credit union began operating in Manchester, N.H. in 1908.
Sponsored by Credit Union Journal and CO-OP Financial Services, along with that first credit union, St. Mary's Bank, the video shows period re-enactors bringing to life some of the early pioneers of credit unions.
To view the video, go to www.cujournal.com and click on the headline, "Watch The Founding of America's First Credit Union" on the right-hand side.
Southeast Corp., Viewpointe Agree
TALLAHASSEE, Fla.-Viewpointe, the national check and image exchange owned by a handful of large banks, said that Southeast Corporate FCU has signed to become its first Pointe2Pointe Internet connectivity customer. Point2Point Internet provides an Internet gateway to the company's check and image exchange, allowing smaller credit unions and banks to connect. The system allows those institutions to connect without the expense of a dedicated telecom line.
Viewpointe is one of four major image exchange networks and is owned by JP Morgan Chase, Bank of America, SunTrust, U.S. Bank, Wells Fargo and IBM.
CUANM Freezes Dues (Again)
ALBUQUERQUE, N.M.-The Credit Union Association of New Mexico (CUANM) has frozen membership dues for 2009. The CUANM has not raised dues since 2004.
Students Asked To Design Website
SAN BERNARDINO, Calif.-San Bernardino School Employees FCU is asking the area's youth to design a Web page that will attract Gen Yers.
The credit union is inviting San Bernardino County high school and college students age 21 and younger to submit a design.
The winning design will get $500 and the credit union will use the design for one year. The winner's school also will receive $500. The winner will be announced in January.
Connex Awards $10K In Contest
NORTH HAVEN, Conn.-A West Haven couple won $10,000 in Connex CU's first savings contest, besting three other families.
The winners were graded on the efforts to change their lifestyles to improve their financial condition, reduce living costs and build their savings. "We are incredibly excited and surprised that we won," said James Eichler. "Working with Connex, we were able to re-examine our financial situation and identify plenty of areas where we could cut costs and make a significant impact on our savings," said James Eichler, who was top saver, along with his wife Carla.
