LAS VEGAS - (07/19/05) -- Just as outgoing NAFCU Chair DianeFurnas was preparing to adjourn an uneventful annual businessmeeting, one voting delegate brought up a sticky issue: the lack ofvolunteers in the national leadership of the credit union movement."Credit union volunteers are partners in this movement," saidMarlene Schwartz, a director at State Department FCU who had run,and lost, for the NAFCU board. "We, the volunteers, are what setscredit unions apart, yet we are not represented proportionately [inthe national leadership of the movement]." NAFCU is currently theonly major national trade association that has a volunteer on itsboard, but Schwartz was joined by several other directors whosuggested this isn't good enough and that neither NAFCU, CUNA norCUES has created an 'inclusive' environment for board members tocome to the helm of the movement's national leadership. Followingthe meeting, Schwartz said NAFCU's incoming chair, Summit FCU CEOMike Vadala, asked her to call him this week to discuss how NAFCUcan help ensure better representation of volunteers on itsboard.
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First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.
September 12 -
The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.
September 12 -
The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
September 12 -
City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.
September 12 -
The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
September 12 -
The world's largest stablecoin issuer is preparing to launch USAT, its U.S.-regulated, dollar-backed stablecoin, by the end of the year, Tether CEO Paolo Ardoino told reporters at an event in New York. Bo Hines was also named CEO of USAT.
September 12