Long-Time CU Critic To Retire
WASHINGTON-Edward Yingling, who as head of the American Bankers Association fought every major credit union initiative, announced he is retiring at year-end after 25 years with the lead banking lobby. Yingling, 61, began with the ABA as a lobbyist and became its chief lobbyist, leading the fight against HR 1151, the landmark 1998 CU Membership Access Act. He became its president and CEO a decade ago. Yingling comes from a family of banking lobbyists, as his father, Jack Yingling, represented Citicorp after working as staff director of the Senate Banking Committee. Yingling said he plans to stay active in the industry, perhaps by returning to the practice of law.
Ohio CUs See Member Surge
COLUMBUS, Ohio-More than 17,000 Ohioans joined credit unions in the state during the year ended March 31, 2010. The Ohio CU League reported that Q1 of 2010 also marked the fifth straight quarter in which membership in Ohio credit unions has grown, including 10,000 during Q1 alone.
"This should not come as a surprise anymore. Membership growth at credit unions has moved beyond just a trend and is now a regular occurrence," said OCUL President Paul Mercer.
The OCUL also reported that during Q1 member business lending was the fastest growing loan category, with Ohio's 392 CUs with outstanding MBL balances reporting a 12.7% increase from the previous March.
Yolo Extends Offer To Help
YOLO COUNTY, Calif.-Yolo FCU said it is offering a special payroll loan program for state employees affected by the state of California budget impasse. The Golden 1 CU, Sacramento, is also offering such a program.
ATM Deal In Landmark Bldg.
YPSILANTI, Mich.-Washtenaw FCU has signed with the city to place an ATM in the renovated Ypsilanti Freighthouse. Under the deal, the CU will provide an ATM with a five-year lease agreement that includes a $10,000 advance payment. Profits will be split equally. The Ypsilanti Freighthouse is a landmark building that was part of the Michigan Central Railroad Complex in Depot Town.
