Corporates Paying Rebates
NAPERVILLE, Ill.--The $2.5-billion Mid-States Corporate FCU said it will pay in excess of 5.00% on balances in its Cash Management Account on Dec. 31, 2001. According to CEO Dave Preter, Based upon the market rates for Dec. 31, 2001, the formula used by Mid-States to determine rates paid on its CMA indicated the rate should be 1.70% for accounts with balances in excess of $5 million. That rate was tripled to 5.10%. Members with balances between $1 million and $5 million received 5.00%, and members with balances below $1 million received 4.90%.
The $843-million Missouri Corporate CU, St. Louis, meanwhile, has declared a bonus dividend of $126,000 to be paid to its 200 member credit unions. "We had been accruing all year for a bonus dividend, and then unexpectedly received a nice year-end dividend of $126,000 from U.S. Central," said CEO Dennis J. DeGroodt.
Register For Discovery Conf.
MADISON, Wis.- CUNA Mutual Group said it has opened registration for its Discovery Conference 2002, themed "Unlock the Power," to be held in New Orleans June 12-15, at the Marriott and Sheraton hotels. Those signing up before March 31, will receive a discounted registration of $750, with further discounts available when three or more from one institution. Rates increase to $850 on April 1. For more info: go to www.cunamutual.com, and click on "Resources," or call (800) 937-2644, x6891 to request a copy of the Registration Guide.
CUSO Financial Still Growing
SAN DIEGO-CUSO Financial Services, a full-service broker/dealer that serves credit unions exclusively, said that CommunityAmerica Credit Union, Kansas City, Mo., will now offer its services. CACU's membership brings to 63 the number of CFS credit unions investing in the company. CFS has 125 branches. For info: www.cusonet.com.
MBTA Chooses EasCorp
BOSTON-MBTA Employees Credit Union has renewed its agreement with Eastern Corpoate FCU (EasCorp) for check and statement processing services. MBTA ECU members will have online access to check images and statements through EasCorp's e*Checks and e*Statements service, respectively.