United Airlines CU Hires CEO
CHICAGO-The $4-billion United Airlines Employees' Credit Union last week named David W. Mooney as its new president and treasurer. Mooney had most recently been a senior vice president at J.P. Morgan Chase & Co. Mooney will officially begin in the position on May 12. Mooney succeeds Board Chairperson Donna S. Fridrych, who has been interim CEO and acting president and treasurer since September 2002. Mooney has a 26-year banking career, primarily at Chase. In a released statement, the credit union said that among Mooney's early tasks will be focusing on a membership development strategy, including diversifying the membership beyond current groups.
Income Soars At Harland
ATLANTA-John H. Harland Co. said strong growth in its software and services unit pushed first quarter net income up 50% to $13.2 million, or 46 cents a share, from $8.8 million, or 29 cents a share, for last year's first quarter. This, despite tepid 4% growth in revenues to $193.4 million, over the same period last year. The company's software and services unit reported a 30% rise in first quarter revenues to $40.7 million. Harland's core printed products operation continued its slow decline with revenues falling 3% to $127.1 million. The company's Scantron unit reported a 9% rise in quarterly revenues to $26 million. Earnings per share were aided by the anti-dilutive effect of the company's share repurchases, resulting in an 8% decline in shares outstanding to 28.4 million.
Mid-Atlantic Adds Broker/Dealer
MIDDLETOWN, Pa.-Mid-Atlantic Corporate FCU said it will partner with CU Investment Solutions, Inc., a subsidiary of U.S. Central CU, to offer broker-dealer services to credit unions. The new brokerage services will be provided through ISI's new Corporate Agent Program and will offer Mid-Atlantic's member credit unions NCUA-approved investments including; U.S. Treasuries, agencies and corporate bonds.
Repo Men Are Shot At
FORT SMITH, Ark.-A local man was arrested this week and charged with shooting two men who came to his house to repossess a car for Rheem Arkansas CU. Kelly Alverson, 40, was charged with aggravated assault after he threatened the two repo men, then fired shots as they left his property. Alverson told police the repo men did not identify themselves, but the two men said they did. Even so, police said the shooting was illegal because nobody's life was threatened.