3 Gunmen Plead Guilty to $360K Armored Car Heists
ALEXANDRIA, Va.-Three men-two of them cousins-pleaded guilty to a string of armored car hold-ups that netted them more than $360,000.
Among the heists was one on Feb. 1, 2008 outside Navy Fed's ATM in Fairfax, Va., where they overpowered a Loomis armored car driver and made off with $120,000.
The biggest take was on April 1 when they stole $160,000 from a Loomis driver who was replenishing ATMs at a Bank of America branch in Lake Ridge, Va.
Two of the defendants, Christopher Blakeney, 21, and Michael Blakeney, 20, are cousins and pleaded guilty to firearms charges while committing a robbery. The third man, Carlic Brown, 25, pleaded guilty to using a firearm in two armed robberies.
FHLB Atlanta Cancels First Quarter Dividend
ATLANTA-The Federal Home Loan Bank of Atlanta, which lost $1.5 million in the first quarter, cancelled its first quarter dividend.
"The bank acknowledges the importance of paying a dividend to our members, and we are working diligently to balance the dividend's value with our ongoing risk management efforts," said CEO Richard Dorfman. "The Bank continues to manage operations conservatively as it provides liquidity to members, actively monitors credit and collateral requirements in a difficult economy, and institutes significant accounting changes within its operations."
The Atlanta Bank, which has more than 1,200 member banks and CUs, saw its net income plunge 43% in 2008 to $253.8 million.
ECU's Used Car Dealership May Get A Reprieve
RACINE, Wis.-Educators CU's used car sales business, shuttered by state regulators last year, may get a reprive under new state budgeting legislation.
According to local news reports, Wisconsin's Join Finance Committee included a provision in the budget allowing the CU to continue operating its used car auto lot. But the bill still has a ways to go, and the auto dealer lobby has indicated it will fight the amendment.
The Wisconsin Automobile and Truck Dealers Association was the same group that successfully lobbied the Office of Credit Union to order Educators to get out of the car sales business.
UW CU Rolls Out Payday Loan
MADISON, Wis.-UW CU has introduced a payday loan product that will give members in good standing access to a short-term loan without the traditional loan application process. The CU's new Paycheck Advance has a fixed interest rate of 21.75%; no application fee; no monthly service fee; no prepayment penalty; and can be used multiple times without reapplying. The program will offer loans in amounts from $50 to $500, and require a $50 minimum payment per month.
Survey: Texans More Optimistic
FARMERS BRANCH, Texas-Texans have become somewhat more optimistic about the economy, according to a study released by the Texas league. Not surprisingly, those surveyed indicated the economy and jobs are the top issues facing the state, according to the poll conducted by Public Opinion Strategies, a Republican firm based in Virginia, and Hamilton Campaigns, a Democratic organization based in Florida.
The poll found 55% of Texas voters believe the state is heading in the right direction, up from 46% in 2004. Fifty-percent described the economy as "good," 36% as "not-so-good," 10% as "poor," and 3% said "excellent." Some 45% foresee economic improvement in the next two years, 29% see it staying the same, and 22% see it worsening.
While the economy and jobs was the top (42%) concern of those polled, other issues of concern included illegal immigration (35%), education (35%), health care (25%) moral values (21%), property taxes (17%) and state spending (10%).
President Barack Obama received a 49% approval rating and a 40% negative approval rating.
When pollsters asked, "Who is to blame for the national financial crises," 16% said former President George W. Bush, 14% blamed Congress, 14% blamed banks, 14% blamed greed, 10% blamed the federal government, and 3% blamed President Obama.
SECU Gives $300,000 To Hospice
RALEIGH, N.C.-State Employees CU said its SECU Foundation, which has been generously funding local hospices, has contributed $300,000 to the Mountain Valley Hospice and Palliative Care project in the town of Dobson, N.C.
The funds will be used to offset operating costs at the facility, the Joan and Howard Woltz Hospice Home.
The hospice residence, which opened in March, is the first free-standing hospice facility in Surry County and serves 16 counties.
