The CU Journal Daily
CUSO Aids Housing Efforts
EL PASO, Texas-The Affordable Housing CUSO has joined several other community groups in a project that will help homeowners secure the deed to 22 rundown trailer homes and build new homes in their place.
The coalition, known as the El Paso Empowerment Zone, recently received an $800,00 grant from the U.S. Department of Housing and Urban Development that will be used to secure the deeds on the property.
The El Paso Collaborative, another partner in the coalition, will provide interim financing, and the CUSO, comprised of eight area credit unions, will provide permanent financing, as well as financial literacy training and help in securing the deeds, according to Larry Garcia, head of the CUSO. Fannie Mae has committed to buying all of the loans.
The University of Texas El Paso has also agreed to provide each homeowner with a $700 grant to provide energy efficiency in the new homes.
CUSO members are: West Texas CU, GECU, Ft. Bliss FCU, Mountain Star FCU, Golden Key FCU, El Paso Area Teachers FCU, El Paso Employees FCU and El Paso Bell FCU.
Truliant FCU Registers New Voters
WINSTON SALEM, N.C.-Truliant FCU is holding voter registration drives at its branch locations, its website, and even a minor league baseball game.
Truliant is also displaying "Get Out And Vote" posters in its branches. "As a democratically-governed cooperative, we encourage our members to exercise their right to vote for their board of directors," commented CEO Marc Schaefer. "Our philosophy matches citizens' right to vote for government officials and we want to encourage our members to exercise that right," said Schaefer.
TSCU Joins FHLB Mortgage Program
TEMPE, Ariz.-Tempe Schools CU said it has been approved by the Federal Home Loan Bank of San Francisco to join the Mortgage Partnership Finance secondary mortgage market program.
The $150-million credit union is the fourth credit union to join the San Francisco bank's version of the secondary market program and first in Arizona. Under the San Francisco bank's program financial institutions share in the credit risk of the loans and are compensated for taking on that risk through a credit enhancement fee.
Mid-Atlantic To Market MoneyPass
HARRISBURG, Pa.-Mid-Atlantic Corporate FCU said it has signed with Genpass Inc., to market the company's surcharge-free MoneyPass electronic funds transfer network to its 1,100 credit union members.
Under the deal, Mid-Atlantic will also market and promote Genpass processing services, which include ATM terminal driving, debit card processing, ATM maintenance and payroll cards. Mid-Atlantic has members in 42 states and Guam.
Texas CU Giant Moves Into Denver
DENVER-San Antonio-based Security Service CU said it has acquired Diakonia CU, expanding its Colorado presence and giving it its first Denver branch. The $3.4-billion credit union already operates six branches in Colorado. Security Service acquired the financially ailing Diakonia, a $38-million credit union serving 13,200 members that had been taken under conservatorship by the Colorado Division of Financial Services, under a purchase and assumption agreement.
Defendant Set Free In CU Hold-Up
JACKSON, Mich.-A 25-year-old suspect in last year's post-Christmas armed robbery at Jackson-City County CU was found not guilty after 10 hours of deliberations by the jury. The jury apparently dismissed tainted testimony by several witnesses that alleged to tie Dequan Hall to the Dec. 26 hold-up, including DNA evidence found on a knife the robber left behind at the CU. The tellers could not identify the robber, who wore a cap and hood and a bandana over his face during the hold-up. The robber made off with $14,750.
'Presidential' Robber Charged In Bank Heist
DES MOINES, Iowa (10/11/04) -- A man charged with the August 4 robbery at Ralston and Community CU while townspeople were blocks away for a campaign visit by President Bush was charged Thursday with last April's armed robbery at U.S. Bank. James Lewis, 30, who has been in awaiting trial on the credit union charge, was identified by the bank clerk who was robbed. A third bank area bank was also robbed that day while visits by President Bush and Democratic Presidential Candidate John Kerry, with an hour of each other, drew police away from their regular rounds.