Redwood CU Enters Napa Market With a Big Bang
NAPA, Calif.-Redwood CU celebrated its entry into the local market with a flare. The $1.5-billion credit union footed the $25,000 bill for last week's Fourth of July fireworks to help mark its arrival after acquiring Napa FCU last month. The credit union agreed to pay for the show after city fathers had trouble finding a corporate sponsor. Because of financial problems, the city hasn't paid for the community celebration since 2003.
Three Get Life Terms For 2005 Shootout After Heist
SAN ANTONIO-Two brothers and an accomplice in the 2005 armed robbery at San Antonio FCU and the shoot-out with police that followed were sentenced to life in prison. The three, Michael Hurtado, 24, Liborio Hurtado, 26, and Armando Contreras, 26, pleaded guilty to attempted capital murder in connection with the three-county, high-speed chase that culminated in a shoot-out with police.
The incident began when the three, wearing ski masks, bulletproof vests and carrying semi-automatic weapons, walked into the credit union on Dec. 22, 2005, made off with cash, then fled in a vehicle, they set on fire, before stealing another pickup truck. The three fired on police while leading them on a high-speed chase, hitting numerous vehicles, before crashing the pickup. Police found four semi-automatic handguns, a shotgun, and two SKS assault rifles in the pickup.
iQ CU To Demolish Building For HQ
VANCOUVER, Wash.-iQ CU plans to take down the city's former Citizen Service Center and build a new headquarters at the site. The $375-million credit union bought the property and the adjacent site from the city in May for $3.2 million. The credit union plans to renovate the adjacent site for either office space or an athletic training facility.
VyStar Buys AmeriCredit Call Center
JACKSONVILLE, Fla.-VyStar CU has acquired the former call center for AmeriCredit on Fleming Island. The 85,000 square-foot building will become the credit union's call center for North Florida. Financial terms of the deal were not disclosed. The six-year-old building was originally an AmeriCredit call center for up to 500 employees. It sold for $14.4 million in 2005 to Lexington Jacksonville LP and became a temporary call center for First Coast Service Options, a unit of Blue Cross and Blue Shield of Florida.
Piggybanc At Your Shared Branch
SAN DIMAS, Calif.-Financial Service Centers Cooperative, the shared branching network, has signed with Piggybanc to offer the company's children's savings accounts through its credit union participants. Piggybanc allows parents to open online savings accounts for their children and add to it any time of the day or night.
Public Official Makes Restitution
MONTROSE, Calif.-Glendale Area Schools FCU will push ahead with its civil check-fraud charges against a well-known public figure, even though she has paid back more than $21,000 it alleged she stole. Stephanie Mines, a director of the Glendale Educational Foundation and former president of the Chamber of Commerce, announced the restitution of $21,323 in a public statement, but the credit union said it plans to proceed with the civil charges to recoup almost $2,000 in legal fees and costs, and to file criminal fraud charges against Mines. Credit union officials said Mines engineered a kiting scheme between her credit union account and Citibank, and bounced $21,323 worth of checks.
Triton Enters ATM Market
LONG BEACH, Calif.-Triton Corp. has introduced a through-the-wall ATM for the credit union and bank market. The company's FT7000 ATM features an envelope depository and expansion bay for future upgrades such as check scanning. The machine is fully XFS compliant and run's Triton's ATM software with Diebold 912 Emulation support, allowing for seamless integration and compatibility into existing networks.
