27 Mergers In August Make 202 For Year
ALEXANDRIA, Va.-NCUA said it approved 27 credit union mergers last month, making a total of 202 combinations through the first eight months of the year. Last month's approvals included 18 with one or more small credit unions under $5 million in assets, making 134 small credit unions erased through merger so far in 2004.
The biggest mergers approved in August were: GTE FCU, Tampa, Fla. ($1.8 billion) with NOME FCU, New Orleans ($24 million); Texas Dow Employees FCU, Lake Jackson, Texas ($780 million) with Texas Crossroads CU, Victoria, Texas ($75 million); Pioneer CU, Green Bay, Wis. ($212 million) with Fox Point CU, De Pere, Wis. ($23 million); and Numerica CU, Spokane, Wash. ($500 million) with Coeur D'Alene Teachers FCU, Coeur D'Alene, Idaho ($11 million).
CUs Continue To Add Low-Income Areas
ALXANDRIA, Va.-NCUA said it approved an application from Xerox FCU last month to serve almost half-million residents of the San Jose, Calif., area by adding several low-income communities of its field of membership. The $750-million El Segundo, Calif.-based multiple group credit union has been carefully expanding into what amounts to a community charter by adding low-income communities in Rochester, N.Y., and in Illinois and Texas, and other markets where it has branch offices, over the past two years.
Several other multiple group credit unions received large low-income expansions last month, including Transtar FCU (formerly Transco FCU), Houston, to serve 160,000 in Houston; Greater Texas FCU, Austin, 215,000 people in the Austin area and Air Academy FCU, Colorado Springs, Colo., to serve 160,000 residents in certain areas of Colorado Springs.
Iowa CUL Sponsors Quarter Launch
DES MOINES, Iowa-The Iowa Credit Union League and Community Choice Credit Union partnered with the state of Iowa to launch the new Iowa commemoriative quarter this month. An estimated 3,000 people gathered at the Iowa state capitol for the official launch ceremony. NCUA Chair JoAnn Johnson, who is also a former Iowa state senator, and Iowa CU Superintendent Jim Forney were on had for the event as well as Gov. Tom Vilsack, U.S. Mint Director Henrietta Holsman Fore, and U.S. Rep. Leonard Boswell. Following the ceremony, attendees had the opportunity to exchange cash for $10 rolls of the Iowa quarter, with Community Choice CU handling the exchange. By mid-day, the CU had exchanged 4,000 rolls of quarters worth $40,000.
9/11 Marked By Blood Drive
SAN DIEGO-Employees and members from area credit unions donated more than 265 pints of blood during a "11 Days in September," a blood drive the first 11 days of the month to commemorate those killed on September 11, 2001. The 11-day event, which benefited the San Diego Blood Bank, included a variety of promotions, like Financial 21 Community CU's blood drive fiesta featuring music, dancing, child identification and face painting. Thirty-three credit unions participated.