The CU Journal Daily
CUs' CEO Confidence Plummets
DALLAS-Southwest Corporate FCU said its credit union CEO Confidence Index plunged again to a new low.
The survey of nearly 500 CEOs during December 2004 found the index fell to 38.75, from 41.06 in September and 47.40 a year ago.
In the survey, CEOs are asked to rate their confidence in the economy as positive, somewhat positive, neutral, somewhat negative, and negative.
The survey asks credit union executives to assess the current financial condition of their credit unions and their credit union members as well as expected conditions six months from now.
CPCU Spreads Wings Across State
CHARLOTTE, N.C.-Charlotte Postal CU said it has obtained approval from state regulators to expand statewide, serving all current and retired postal employees in the Tarheel state.
The $46-million credit union also said it has reached an agreement to merge with Triad Postal CU in Winston-Salem and has changed its name to Carolina Postal CU.
Triad Postal CU has four offices in North Carolina and $17 million in assets.
Deal Lands In Chicago Airports
CHICAGO-A consortium led by LaSalle Bank and including several credit unions won a contract to place 14 ATMs in Chicago airports, including 10 at O'Hare International and four at Midway.
The other participants in the consortium are American Airlines FCU, Alliant CU (formerly United Airlines CU) and Seaway National Bank. All four institutions will have a brand presence on the machines. The current contract is held by Harris Bank.
Unbanked Can 'Bank On New York'
NEW YORK-More than two dozen credit unions and banks joined with the State Department of Banking in a campaign aimed at enrolling the city's 800,000 unbanked in a traditional financial institution account.
Through the month of January the credit unions and banks participating in the Bank on New York campaign will use targeted advertising and consumer education in multiple languages to promote low or no-fee accounts and distribute information about the Earned Income Tax Credit.
Ads will be placed in credit union and bank lobbies, on bus shelters and in newspapers throughout the city in English, Spanish and Chinese.
"The money saved by opening basic bank accounts and avoiding more expensive options, will help New Yorkers expand their financial opportunities," said Meagan van Harte, spokesman for Lower East Side People's FCU, one of the participants in the program.
New York state law requires all credit unions and banks to offer so-called lifeline accounts that meet certain criteria, including low minimum balances ($25), low monthly charges ($3 maximum), and a minimum of eight free withdrawals (including ATM transactions).
Other credit unions participating include: Bushwick Cooperative FCU, Montauk CU, Union Settlement FCU, as well as the National Federation of CDCUs.
Mo. Gets First New CU In Years
JEFFERSON CITY-The Department of Economic Development approved a charter for Missouri Farmers Union CU, the first new state chartered credit union in seven years.
The new credit union is still awaiting word from NCUA on whether it will be approved for federal deposit insurance.
The credit union will begin making small consumer loans but eventually plans to make operating loans for the state's farmers.
Georgia CUs Launch Ad Campaign
DULUTH, Ga.-Credit unions in Georgia unveiled their first coordinated television ad campaign.
The commercials feature everyday people to convey the idea that credit plays an important role in members' lives and in the communities.
The ads-themed "Georgia's Credit Unions: You'll Like Us Better"-also direct non-credit union members to the state's match-up website to locate a credit union they are eligible to join.
The ads will run for seven weeks in the state's six major markets of Atlanta, Albany, Augusta, Columbus, Macon and Savannah.