NAFCU Webcast On Reg Z Compliance Issues
ARLINGTON, Va.-NAFCU will host a webcast on issues related to compliance with changes to Regulation Z rules for advertising loan products. The webcast will air Nov. 4, from 2-3:30 p.m. EST. The deadline for early bird registration is October 28. For info: www.nafcu.org/novemberwebcast or 800-344-5580.
3 CUs Sign On To 'Bank on Rockford' Effort
ROCKFORD, Ill.-Three credit unions here have joined the Bank on Illinois program, which offers unbanked residents from underserved and minority communities free and/or low-cost accounts with mainstream financial institutions. The goal is to sign up 1,000 residents over the next year. It is being estimated that the average unbanked household in Illinois pays $574 a year just to cash payroll checks. Participating are First Northern CU, Generations CU and MembersAlliance CU.
Indiana CUs Now Boast Most Locations
INDIANAPOLIS-The Indiana league reported last week that participants in Credit Union Centers of Indiana's network have access to 201 locations, more than any other financial institution that does business in the state, including large regional players JP Morgan Chase, PNC/National City and Fifth Third. CUCI is part of the national Credit Union Service Centers network.
Ohio Bill To Permit Deposit Of Public Funds
COLUMBUS, Ohio-Legislation that would permit Ohio credit unions to become eligible depositories for public funds was introduced last week in the Ohio General Assembly. Ohio CUs are currently barred from accepting such deposits. The Ohio league, which supports the bill, said numerous local governments have also expressed support.
Univ. Of Hawaii CU Names Morse CEO
HONOLULU-The Unversity of Hawaii Credit Union has named Jeanine Morse, director of sales and marketing since 2007, to succeed Ariel Chun as president and CEO of the $420-million credit union. Chun is retiring at the end of the year after 23 years with UHCU. Morse previously worked as COO for Premier Community CU and EVP for The Golden One CU.
Name Changes & Mergers At Credit Unions
GUAM-Government of Guam Employees FCU has changed its name to Coast 360 FCU. The credit union cited its conversion to a community charter in 2008 as the reason for the change. In Rusk, Texas, the $29.5-million Southern Cherokee FCU has changed its name to Cherokee County FCU, reflecting an FOM expansion to all of Cherokee County, Texas. And in Lawrenceville, Ga., the $18.8-million Clarke Community FCU is being absorbed via merger by the $148-million Gwinnett FCU, but will retain its name and operate as a division of GFCU. In Topeka, Kan., Credit Union 1 of Kansas and Credit Unions United are merging to create a $250-million CU. Both have reported positive net income during 2009.
