The CU Journal Daily
Cash Not King At This CU
WHITEFISH, Mont.-Don't tell members of Whitefish CU that cash is king. The $565-million credit union, the biggest in the state, plans to open its second cashless branch next week.
Charles Abell, president of the credit union, said they have found with the success of their first cash-less branch that it cuts down on problems, including bounced checks, the risks involved with the daily counting of cash, and the potential for robbery.
"There's several problems with handling cash," Abell told The Credit Union Journal. "Several people join the credit union just to cash checks. We've been abused in that regard." Members will be able to make deposits at the new branch in the low-income community of Thompson Falls, which will, in turn, be deposited in the local bank.
Woman Gunned Down At ATM
RALEIGH, N.C.-A 26-year-old Raliegh man was charged with the recent killing of a member of State Employees CU in the credit union parking lot here after she made a withdrawal from the ATM.
Shaudria Barfield, 24, was found dead in her car. Larry Carter, Barfield's former boyfriend who was already in custody on other charges, was charged with the shooting, police said.
The surveillance video outside the ATM shows Barfield withdrawing cash prior to the attack.
CO-OP Network Adds Minn. CUs
ONTARIO, Calif.-The CO-OP Network said it expanded its Midwest footprint with two more Minnesota credit unions, expanding the number to eight in the state.
The two new CO-OP members are Twin City Co-ops FCU, in Falcon Heights ($470 million) and City & County CU, in St. Paul ($300 million).
Members of the two credit unions now have access to 678 ATMs in Minnesota and more than 19,000 nationwide.
Maine CUs To Disburse Grants
WESTBROOK, Me.-The Maine CU League said it has awarded $65,000 in small grants to its member credit unions to be used to help finance community programs aimed at combating hunger.
The money was part of the $209,000 raised by the state's credit unions in the league's annual anti-hunger fundraising campaign and were disbursed to the top 25 fundraising credit unions.
The remaining $145,000 was awarded by the league to various community programs fighting hunger.
JDCCU Awards Diversity Grants
WATERLOO, Iowa-John Deere Community CU is accepting applications for its annual Diversity Alliance Grants, awarded to non-profit organizations that support diversity efforts in the community.
The credit union expects to award $25,000 in small grants this era. The credit union has awarded the diversity grants since 1999.
July 4th Float Wins CU A Prize
ORCHARD PARK, N.Y.-A float with an animated flying American eagle won OPCS FCU first prize in the annual Independence Day Parade here celebrating the town's 200th anniversary.
The eagle, made from recycled materials and built by credit union board members and volunteers, survived a torrential rain storm prior to the parade. The credit union donated its $150 prize winnings to the Boys' and Girls' Club.
ATM Maker Settles With Shareholders
HOUSTON-Financially ailing ATM manufacturer Tidel Technologies Inc. has agreed to pay $3 million to settle a shareholders lawsuit claiming it issued misleading financial statements.
The company said the funds to pay for the settlement will come from directors' and officers' liability insurance and the issuance of two million of the company's shares, which recently closed at 75 cents each.
The company, which was delisted from the Nasdaq last year, has never recovered from the bankruptcy of its biggest customer Credit Card Center, once the operator of the biggest independent fleet of ATMs in the country.
Tidel has not filed financial disclosures for more than a year but reported in December it had incurred "substantial" losses for both 2002 and 2003.
Robbery Plagues Buckeye State CU
AKRON, Ohio-Buckeye State CU was held-up Tuesday morning, for the third time in less than two months.
The latest robbery occured at 10 am Tuesday when an undisclosed amount of money was stolen. The credit union was also hit on June 26 ands May 10.