CUs Go On Tour With Sen. Murray To Tout Financial Literacy Efforts
FEDERAL WAY, Wash.-Credit union advocates are touring the state with Sen. Patty Murray (D-WA) to help her tout the importance of her Financial and Economic Literacy Improvement Act of 2009, an effort to teach young and old alike how to take control of their financial future.
Murray has asked at least three credit union executives to participate in her media blitz, including Washington CU League President John Annaloro, who spoke at Foster High School; Gesa CU CEO Christina Brown, who appeared in Pasco at Columbia Basin College, and STCU CEO Steven Dahlstrom.
Starting at Tukwila's Foster High School, which was recently designated at the nation's most diverse secondary public school, Senator Murray has crisscrossed the state speaking to a variety of groups about the importance of her legislation co-sponsored by Sen. Thad Cochran, R-Miss. It seeks to promote age-appropriate courses and activities for two levels of students: K-12 and in two- and four-year colleges.
The bill funds financial literacy to the tune of $250 million a year for five years. The money is distributed as grants to states, funding programs at the K-12 level, and at two- and four-year colleges.
Sunmark Sets Out To Teach Members Ecological Benefits Of Online Banking
LATHAM, N.Y.-Sunmark FCU, as part of its Earth Day activities, has launched an initiative to teach members the environmental benefits of online banking and e-statements.
The initiative will also point out how these electronic services can also help the CU save money.
In addition to promoting online banking, the credit union will also be offering members free reusable grocery tote bags for enrolling in e-statements or online banking. The bags are made out of recycled material and allow consumers to shop without paper or plastic.
The new initiative also ties in with the credit unions ongoing Members Helping Members program and its energy awareness platform. That program, launched in the fall of 2008, created a network for members to assist one another with energy preparedness. The program created a network between Sunmark's members and businesses to foster cooperation in dealing with economic and energy issues facing residents of the Capital Region.
For info: www.memberhelpingmember.org
Aurora Catholic, Nations Heritage, Steinbeck All Find Merger Partners AURORA, Colo.-The $13.7-million Aurora Catholic FCU here is being absorbed via merger by the $5-billion Security Service FCU, San Antonio. ACFCU has 2,200 members.
Meanwhile, in Attleboro, Mass., $88-million NationsHeritage FCU will be absorbed by the $1.7-billion HarborOne CU. The three NHFCU branches will become part of HarborOne's network.
Similarly, in Salinas, Calif., Steinbeck Credit Union, named after the author who chronicled the struggles of many in the Golden State during the 1930s, said it will be absorbed by the Golden 1 Credit Union via merger. The $50-million SCU serves 7,700 members and has two branches. The $7-billion Golden 1 has 690,000 members.
Hiway FCU Announces Plans To Absorb Snelling FCU Via Merger
ST. PAUL, Minn.-The $780-million Hiway FCU here is absorbing the $33-million Fort Snelling FCU via merger. FSFCU serves government employees and their families; military and non-military personnel and federal employees working on the Fort Snelling base, at the VA Medical Center and at the Bishop Henry Whipple Federal Building. HFCU serves a variety of serving federal, state and local government agencies, including employees of the Minnesota Department of Transportation. The merged CU will serve more than 60,000 members.
Alabama League Helps Get Data Security Bill Up For Consideration
BIRMINGHAM, Ala.-The Alabama Credit Union League (ACUL) has helped to introduce a data security bill in to the state legislature. Sen. Roger Bedford has introduced the bill in the state Senate, Rep. Tammy Irons in the House. The bill was first introduced in 2008 but did not pass. ACUL CEO Gary Wolter said the league expected it would require multiple sessions in the legislature to get the measure passed, but noted that new data breaches, most recently the Hearland breach, are expected to help the bill gain momentum and traction. The bill's three major provisions are: A requirement that entities that experience a data breach must notify consumers (Alabama currently has no such requirement); a prohibition on the retention of sensitive consumer financial data, and a requirement that any entity that experiences a breach and held such prohibited data must reimburse the issuing financial institution for the cost of reissuing cards and or taking appropriate steps to protect accounts at risk.
Texas Gov. Rick Perry Appoints 2 People To State CU Commission
AUSTIN, Texas-Texas Gov. Rick Perry has appointed two people to the Texas Credit Union Commission. Appointed were David J. Cibrian, a partner in the law firm Strasburger and Price, San Antonio, and A. John Yoggerst, owner of financial services firm AJY and Associates, also San Antonio. If approved, the terms would run through 2015.
Meanwhile, Carol Malecki, who spent 27 years in credit unions including a term as CEO of Educational Credit Union, was named to a three-year-term on the Kansas Credit Union Council by Gov. Kathleen Sebelius.
Three Long Island CUs Exploring Their Potential Merger Options
JERICHO, N.Y.-Three Long Island credit unions have entered into discussions regarding a potential merger. Considering the combination are the $56-million North Shore LIJ Health System FCU, the $23-million LIJ Employees FCU and the $14-million Hillside Hospital FCU, all of which serve health care industry-related fields of membership, currently totaling about 17,000 members. Gary P. Leonard, board president at NSLIFHS FCU, said the move would provide expanded branch networks and other offerings that would otherwise take years to achieve. D. Hilton Associates, The Woodlands, Texas, has been retained to consult on the merger. Meanwhile, in Dubuque, Iowa, the $2.76-million Cryovac Employees CU is being absorbed via merger by Dupaco Credit Union. CECU's sponsor closed its local plant, idling 257 employees.
Paragon Consulting Group Schedules Volunteer Leadership Institute
SAN DIEGO-With fresh educational content aimed at board members and members of the supervisory committee who are relatively new to their positions, the Paragon Consulting Group has scheduled its Volunteer Leadership Institute-Mainland for June 28-July 1. To be held at the Loews Coronado Bay, the meeting will include foundational training in duties and responsibilities, regulatory requirements, asset and liability management, risk management and other topics. There are separate learning tracks for board members and supervisory committee members, with beginning and intermediate courses.
For more info: www.theparagongroup.com
NAFCU Advanced Leadership Symposium To Be Held In July
WASHINGTON-NAFCU has introduced the NAFCU Advanced Leadership Symposium (NALS), an advanced course that builds on the group's Management Development Institute (MDI). The first NALS will be held July 22-25 at the Gaylord National on National Harbor, Md. as part of NAFCU's annual meeting, and will include sessions such as press management, disaster recovery, crisis management, bankruptcy, and HR issues. To register: www.nafcu-annual.org/NALS.html or 800-344-5580.
Retail Employees CU Changes Its Name To SharePoint Credit Union
HOPKINS, Minn.-The $151-million Retail Employees CU has changed its name to SharePoint CU. The credit union, chartered in 1933 as Red Owl Employees CU, has 18,500 members.
CUES Names Winners Of Its 2009 Golden Mirror Marketing Awards
MADISON, Wis.-CUES has named the winners of its 2009 Golden Mirror Marketing Awards. The top prizes were: GMA Best of Show to Sunova Credit Union, Selkirk, Manitoba, Canada; GMA Rookie of the Year to Boulder Valley Credit Union, Boulder, Colo., and GMA Golden Shoestring to Seattle Metropolitan Credit Union, Seattle.
Forinfo: cues.org/gma
Davenport And Day To Kenoted NAFCU's CEOs Conference
MONTEREY, Calif.-Authors Tom Davenport and Kathleen Day keynoted NAFCU's CEOs Conference, April 22-24 at the Hyatt Regency Monterey. Davenport, who manages the Institute for Process Management at Babson College, will speak to how credit unions can compete on the basis of their analytical capabilities and fact-based decision-making to build competitive strategy in the current economic climate. Day, author of "S&L Hell: The People and Politics Behind the $1 Trillion Savings-and-Loan Crisis," will explore what the savings and loan fiasco of the 1980s teaches us about today's crisis and how credit unions can respond to members in need.
For info: www.nafcu.org
