The CU Journal Daily
DC League Seeks To Fill 3 Seats
WASHINGTON-The board of the D.C. Credit Union League has appointed a committee tasked with selecting nominees for the three new seats on the board of the newly formed Maryland and District of Columbia Credit Union Association. These directors will be elected before the official opening of the new association on Jan. 1, 2006.
D.C. League Chair Theresa Mann will chair the nominating committee made up of Laura Eacho, CEO of DCVA FCU; Miriam Lieb, CEO of Transportation FCU, and Will Yarborough, CEO of USPS FCU. Nominations should be faxed to 410-290-7832 and must be submitted by Sept. 15.
CU's Program Targets Women
SALT LAKE CITY-Mountain America FCU said it introduced a new service, called Women's Financial Services Network, to target the financial needs of females, especially for small business services. The concept was prompted by the fact the majority of Utah businesses are owned by women and Mountain America is the second most active SBA lender in the state.
The credit union also plans to focus the network on female financial needs for family and household managers, young adults just graduating from high school or college and professionals in the corporate world, as well as small businesses.
The credit union plans to hold educational seminars and presentations at various women's groups, sponsor local women's events and recently awarded four scholarships to female undergraduates at the University of Utah's School of Business.
Local Schools Get CU Assistance
JACKSON, Tenn.-Leaders CU said it donated $8,000 to Jackson-Madison County schools to help offset budget cuts for this year. Credit union officials visited area schools last week and gave out separate donations.
The size of the donation was based on the number of teachers on staff. The $75 million credit union was chartered in 1957 as Jackson-Madison County Teachers CU.
NCUA OKs Big Minn. Community
ALEXANDRIA, Va.-NCUA said it has approved one of its largest community fields of membership ever for City-County FCU, in Brooklyn Center, Minn.
The grant will allow the $450-million credit union to serve more than 2.7 million people in seven Minnesota counties, making it one of the five largest fields of membership ever approved by NCUA.
NCUA also approved the continued expansion of Newport Beach, Va.-based Chartway FCU into new markets with authorization to serve an underserved area of Cleveland, Ohio. Over the past two years the $1-billion credit union has utilized NCUA's underserved program to expand its markets in Florida, Rhode Island and Texas.
Man Pleads Guilty To $2M Theft
SAN DIEGO-An outside contractor for Mission FCU pleaded guilty to stealing more than $2 million in cash he was supposed to be transferring from the credit union's vaults to its ATMs.
Under a plea agreement, Jacob Johnson, a former employee with Advanced Networks Inc., agreed to repay the stolen funds to the credit union. Prosecutors said Johnson stole the cash between December 2002 and October 2004, then falsified documents to cover his tracks.
Navy Fed To Pilot Insurance
VIENNA, Va.-Navy FCU said its Navy Federal Financial Group CUSO has signed with Newtek Business Services for a one-year pilot program to promote homeowners' and business insurance. Newtek Insurance Agency, a wholly owned unit of Newtek Business Services, will provide access to the insurance products through more than 40 carriers via a web-based referral system.