SSFCU Reaches $5 Billion
SAN ANTONIO, Texas-Security Service FCU has reached more than $5 billion in assets, making it the largest CU in the city, the second largest in Texas and 10th largest in the nation.
Established in 1956 at Kelly Air Force Base with eight members and $25 in deposits, today the credit union exceeds more than 680,000 members and has more than $4.1 billion in deposits and $4.5 billion in loans. Additionally, Security Service FCU currently operates 45 service center locations in Texas and Colorado.
"We are pleased to have reached such a significant milestone despite current economic conditions," said David Reynolds, CEO.
For info: www.ssfcu.org
FSCC Pays Patronage Refund
SAN DIMAS, Calif.-Financial Service Centers Cooperative Inc. (FSCC), operator of a shared branch network, said it will pay a $1.1-million Patronage Refund to participating credit unions for transactions performed during 2008. The dividends will be distributed to patrons following the completion of FSCC's annual audit this spring, and will be paid out for acquired transactions performed in their branches and shared branch kiosks owned by the credit unions. FSCC announced earlier that its board approved the 2009 Patronage Dividends strategy, which will again be based on acquired transactions.
"This dividend rewards those credit unions that are committed to providing shared branching to millions of members nationwide," said CEO Sarah Canepa Bang.
Cornerstone Awards Given
WASHINGTON-Eldridge Etienne and Barbara Stephens have been named recipients of NAFCU's 2009 Cornerstone Awards. Created in 2005 to provide members of the African-American CU Coalition with the opportunity to attend, free of charge, one of three NAFCU conferences, both winners will attend the CEOs Conference April 22-24 in Monterey, Calif. Etienne is COO with Southern Teachers and Parents FCU in Baton Rouge, La., and Stephens is CEO at Municipal Employees FCU in Houston.
Employees Drop Teamsters
WEST MIFFLIN, Penn.-Twelve employees of United Community FCU here have voted to drop their representation by a labor union. After 25 years, the dozen employees of the former Auto Workers FCU severed their relationship with Teamsters Local 249 of Pittsburgh, making the $35.3-million credit union a non-union shop. CEO Mike Pastirik told the Pennsylvania CU Association, "I can't tell you how proud I am of the employees for making this important and trustworthy decision as we move forward."
CU Branch Wins 2 Awards
MISSOULA, Mont.-Missoula FCU has won a bit of unique recognition - for its use of concrete. MFCU's newest branch has won two awards from the Montana Contractor's Association Concrete Division, including a first place award in the "New Green Concrete Applications" category, as well as a "Concrete Judges Choice Award." Missoula Federal completed construction on its platinum-level LEED certified branch in November 2008. All of the concrete used in the construction of the building was made from a mixture of 100% fly ash and 100% recycled glass, instead of Portland cement and gravel.
CUDE Program Dates Set
MADISON, Wis.-The National CU Foundation is reporting that registrations for its Credit Union Development Education program May 13-19 is already half full, and marketing has yet to start. This year the program will be held for the first time at the Lake Lawn Resort in Delavan, Wis., about 50 minutes from either Madison or Milwaukee, or less than two hours from Chicago. The DE program is aimed at educating new CU execs or "recharging" veteran CU execs about the CU business model and the power of working cooperatively.
For info: www.ncuf.coop. Information on scholarships is available by contacting Tom Decker at tdecker@ncuf.coop or 800-356-9655, ext. 4374.
