The CU Journal Daily
CCUL Endorses Both Candidates
DENVER-The Colorado CU System has made an unusual endorsement in the race for the state's third congressional district-they have decided to endorse both candidates, less they offend either one who may represent the district in the next Congress. Both Democrat John Salazar (Guadalupe Parish CU) and Republican Greg Walcher (Western Rockies FCU) are long-time credit union members and support credit unions on the issues, according to Terri Johnson, spokesman for the league.
"We're in the business of making friends, not enemies," Johnson told The Credit Union Journal, of the league's election guide touting both opponents.
Florida credit unions had a similar dilemma choosing between Democrat Betty Castor and Republican Mel Martinez for Senate, so they too are backing both. "We feel both candidates are very strong supporters of credit unions, so credit unions are going to be winners, no matter which one comes out on top," said Mark Ivester, spokesman for the Florida CU League. Both the league and credit unions have participated in fundraising events for both opponents.
Six New England CUs Form CUSO
MARLBORO, Mass.-Six New England credit unions have formed a CUSO to provide centralized underwriting and servicing of small business and commercial real estate loans for credit unions in the six-state region. Called MBL Services LLC, the new CUSO will be headquartered here at Digital FCU, one of the owners; with former banker Fred Hashway serving as CEO. Other owners are: Eastern Corporate FCU, Woburn, Mass.; First Citizens' FCU, New Bedford, Mass.; Jeanne D'Arc CU, Lowell, Mass.; Northeast CU, Portsmouth, N.H. and Rockland FCU, Rockland, Mass.
Ex Fed VP Pleads Guilty
SAN ANTONIO, Texas-A former vice president with the Federal Reserve Bank of Dallas pleaded guilty Friday to issuing phony checks on H-E-B FCU. Taylor Barbee, 52, confessed that between Oct. 2003 and March 2004 he issued 38 bogus checks worth $16,500 on the credit union using fictitious names of "T.H. Arbeer" and "Del. R. Taylor." Sentencing is scheduled for Jan. 21.
Members Chase Down Suspect
SUSQUEHANNA TOWNSHIP, Penn.-A Members 1st FCU member who witnessed an armed robbery at the credit union, chased down the suspect and dragged him from a departing taxi cab as the thief was making his getaway, and then held him until police arrived.
The suspect, identified as John Madigan, 40, of Gettysburg, took a cab with two other men to the branch at 9:15 am and told his companions he was going inside the cash a check, police said.
Instead, Madigan told a teller he had a gun and made off with $4,000.
A member who watched the robber chased Madigan and pulled him from the waiting cab, then held him with another member while they waited for police to arrive.
Tax Credits Help Fuel CU Affiliate
JACKSON, Miss.-Six area companies have pledged to invest $5.5 million in Enterprise Corporation of the Delta and its Hope Community CU affiliate to help fund affordable housing and create jobs in the economically depressed areas in the Mississippi Delta under the federal government's New Markets Tax Credits program.
Under the tax credits program, private investors receive federal income tax credits in exchange for investments in eligible institutions, like the community development credit union. Hope Community CU is currently the only credit union in the country receiving funding under the program. The area companies investing in the company are: BankPlus, Beau Rivage Resort and Casino, Trustmark Corp., AmSouth Bancorp., Entergy Corp., and Bank of the Ozarks.
Robber Gets 17 Years For Heist
GREENVILLE, S.C.-A Rocky Mount man who was arrested returning home after robbing Telco CU in 2003, was sentenced last week to 17 years in prison for his role in the heist. LaKendrick Fobbs, 28, was one of four men to burst into TCU brandishing handguns and a shotgun, one of whom pistol-whipped a teller. One of the accomplices was tracked down and arrested in Indiana, while the other two were captured in the community. One other man pleaded guilty, while two others are awaiting trial.