IMCU Inks 2-Year Deal With NBA's Indiana Pacers
INDIANAPOLIS-Indiana Members CU announced it will extend its partnership with professional basketball's Indiana Pacers, making the credit union official sponsors for the 2010-2011 and 2011-2012 seasons.
The agreement includes player and mascot appearances, a Pacers debit card, courtside signage, radio spots, hospitality and use of the Conseco Fieldhouse practice court for community relations initiatives.
"Our members have enjoyed meeting the Indiana Pacers players in our branches," said Ron Collier, president of the $1.2 billion credit union. "We are now able to extend this benefit, bringing the Indiana Pacers to their fans and our members through continued personal appearances at IMCU branches."
IMCU and the Indiana Pacers began their corporate partnership with the 2009-10 season.
Mortgage Lending Reported To Be Slumping At Navy Fed
VIENNA, Va.-Record-low mortgage rates failed to boost lending at Navy FCU during the second quarter, as single-family loans funded dropped by 56% from the previous year's period, to $944 million.
Based on its current "run rate," the credit union could produce less than $4 billion of mortgages this year, compared to $6.2 billion last year. In March the $42 billion credit union made a commitment to lend $7 billion to its members this year, a goal that now looks tough to achieve.
As of June 30, Navy Fed serviced $28.3 billion of home mortgages, a slight increase from the same period a year ago. It enjoys a relatively healthy delinquency ratio of 2.17% compared to a national average of about 10%.
Teller Used Mother's ID To Steal Funds
REDWOOD CITY, Calif.-A former teller at San Mateo CU pleaded innocent to charges she used her mother's identity to get her job at the credit union, where she allegedly transferred tens of thousands of dollars that had belonged to her 74-year-old aunt into her own account.
Arcelia Aguilar, 28, also is charged with stealing funds from a 16-year-old girl who had received a sizeable inheritance from her dead mother.
Prosecutors said the teller transferred $40,000 of her elderly aunt's funds into her own account, and $33,000 of the 16-year-old girl's money.
Aguilar was arrested in July after a family member reported her to authorities for using her mother's Social Security number. Prosecutors said she spent all of the stolen money.
Tech CU Launches Student Banking
SAN JOSE, Calif.-Technology CU has introduced a suite of student banking products for high school and college age kids it hopes will help tap into the youth market.
The package includes: Click Checking, Connect Credit Line, a VISA credit card, student loans, auto loans, and online banking and bill pay. In addition, students receive a debit card that gives them access to more than 60,000 surcharge-free ATMs nationwide.
Tech CU said its Plug In website (www.techcu.com/students) offers advice on everything from buying a first car to affording an apartment.
Hawaii Central CU Holds Text Contest
HONOLULU-Hawaii Central CU is holding its second annual Hawaii's Fastest Texter contest on Sept. 5. The texter who types with the least amount of errors in the fastest time wins $1,000. It will take place at the Kapiolani Park bandstand as part of the Okinawan Festival.
Ala. CU Sponsors Secret Meals
TUSCALOOSA, Ala.-Alabama Credit Union has launched its second annual Secret Meals For Hungry Children to feed Tuscaloosa County and city students on weekends.
School counselors help identify the need by looking at behavioral signs such as hoarding or weight loss for the program, known as "Hushed Up." Then, on Fridays, they sneak a three-pound plastic bag of non-perishable foods into backpacks during recess. It's just enough to tide them over until Monday. Food includes fruit cups, cereal and canned spaghetti.
The program fed 400 needy students by the end of the last school year.