NCUA Takes Over Two More CUs
ALEXANDRIA, Va.-NCUA liquidated two more credit unions, bringing the year-to-date total to 13. Shuttered were the $1.8-million TEXDOT-WF CU in Wichita Falls, Texas, which had 530 members and was found to be insolvent, and the $6-million N&W Poca Division FCU in Bluefield, W.V. TEXDOT-WF CU‚s assets have been assumed by the $50-million Postal Family CU In Wichita Falls, Tex., while the 1,194 members of N&W Poca Division will receive checks from NCUA representing their insured funds.
NCUA Grants Third New Charter
ALEXANDRIA, Va.-NCUA has approved a charter for Oak Cliff Christian FCU, only the third new credit union approved this year, putting 2008 on pace for the fewest new credit unions in decades. The Dallas CU will serve members and employees of the Oak Cliff Bible Fellowship Church and its subsidiaries as well as students of the fellowship Christian Academy, all based in Dallas. The credit union office will be located on the campus of the Oak Cliff Bible Fellowship Church in Dallas. This field of membership totals 8,500 potential members.
CU Hosts Diversity Summit
TAMPA, Fla.-Grow Financial CU hosted a "Diversity Summit" for the local community at its Bloomingdale Operations Center. Led by National Diversity Council founder and CEO Dennis Kennedy, and Dr. Rita S. Boags, principal consultant for Leadership Technologies LLC, the summit was organized by the Florida Diversity Council and focused primarily on the advancement of women. "Why aren't there more men at these summits?" Kennedy asked of an audience comprised primarily of women who represented companies and municipalities throughout the Tampa Bay area. "In a multi-cultural corporate environment, everyone has value. But if the leadership doesn't get it, the organization won't get it."
Kennedy spoke to the issue of the "glass ceiling," noting that women earn 76 cents for every dollar a man makes. But in his remarks, he did not place all the blame on men, saying women need to be stronger negotiators and actively seek out opportunities for education and mentoring traditionally reserved for men. "You have to invest in yourself," said Kennedy. "We are each responsible for our development opportunities."
Boags spoke to the related issue of mentoring, saying the glass ceiling is a system which operates automatically to produce the same results. "There is no one barrier," she said.
Boags suggested the retirement of the baby boomers and the transfer of knowledge to the next generation of business leaders, women and minorities have the opportunity to break the glass ceiling and finally change the face of American corporate leadership.
CU Pledges $1 Million
FARMINGTON, Mich.-Community Choice CU introduced the Community Choice Foundation recently, which will provide a minimum of $100,000 to high-school seniors starting college in the fall of 2009.
The goal of the foundation is to provide $1 million in scholarships between 2009 to 2012, through support from the credit union and its members.
The credit union will provide $100,000 per year, contributing $400,000 in scholarship funds between 2009 to 2012 and hopes to raise the remaining funds through its newly formed foundation. The foundation's annual fundraising goal is to collect an average of $5 for each of the 50,000 Members, or a total of $750,000 from 2010 to 2012.
Lending Council Studies Released
MADISON, Wis.-Two new white papers have been released by the CUNA Lending Council.
"Developing Members From Indirect Borrowers: Lessons Learned" examines findings from CUNA Mutual Group's Indirect Borrower's Pilot Project, and includes information on the overall project and its results, the indirect lending environment, profiles of participating credit unions, and the project's findings and conclusions.
The second paper, "Serving New Americans," examines how to reach and better serve resident and non-resident aliens and first generation (foreign-born) immigrants. The paper diagrams certain areas of consideration to achieve a successful long-term investment, including: policies, operations, products, services, and marketing.
For info: www.cunalendingcouncil.org; select the "White Papers" link located in the "Tools and Resources" drop-down menu.
DOL FCU Featured On Local News
WASHINGTON-Department of Labor FCU was featured in a TV news report on the local NBC affiliate on payday lending. After profiling a woman whose $300 loan led to a $5,000 outstanding balance and ultimately, bankruptcy, members of DOLFCU who had benefited from its StretchPay program were interviewed, as was CEO Joan Moran.
California To Honor CU Leaders
RANCHO CUCAMONGA, Calif.-Several California credit unions and individuals will be honored for their work in fostering diversity, while others will be recognized for their work on behalf of smaller CUs during California CU League's Annual Meeting and Convention at the Marriott in San Francisco this November.
Diversity Awards will be awarded to Ricky Tolbert, branch manager, Spectrum FCU in San Francisco, (individual), Northeast Community FCU (CUs under $100 million), and Orange County's CU (CUs over $100 million). The Kim Bannan Eternal Flame Awards will be awarded to Cheri Mora, consultant for San Mateo CU, in Redwood City, (individual) and The Golden 1 CU, in Sacramento (credit union).
NYCUL Wins Communicator Award
ALBANY, N.Y.-The Credit Union Association of New York's TV commercial, CreditUnionsForYou.com, and its quarterly four-color magazine, Connection, have been selected to receive awards of distinction from the Communicator Awards.
The commercial, part of a statewide awareness campaign, took the honors in the Financial Services (non-bank) category. Connection was recognized in the Print/Association Magazine category. The Communicator Awards is an international awards program honoring creative excellence for communications professionals.
The awards are judged and overseen by the International Academy of the Visual Arts.(c) 2008 Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/
