Self-Help CU Acquires Carolina Mountains CU
DURHAM, N.C.-Self-Help CU has agreed to acquire Carolina Mountains CU, which will give the well-known community development credit union more than $400 million in assets. The $43-million Carolina Mountains CU, based in Penrose, N.C., will continue to operate as a division of Self-Help CU. Carolina Mountains is financially healthy, having reported operating net income of $250,000 and 8% net worth after three quarters. Carolina Mountains, located in western North Carolina, was chartered in 1974 to serve employees of the Brevard Dupont plant and their family members, then converted to a community charter in 2001.
Columbia CU Names Steve Kenny CEO
VANCOUVER, Wash.-Columbia CU announced that interim president Steve Kenny was made permanent CEO of the $770 million credit union.
Kenny, who was the credit union's chief financial officer, has been serving as interim CEO since Parker Cann left six months ago to be general counsel for BECU.
Cann, the former state credit union supervisor, took over Columbia CU four years ago amid turmoil caused by management's failed attempt to convert to a mutual savings bank.
Minnesota Foundation Revamps Website
ST. PAUL, Minn.-The Minnesota Credit Union Foundation revamped its website this fall, giving it "a fresh look, new features and a new organizational structure." The new site also has increased functionality as viewers will be able to look at grant summaries, fill out applications for grants and make contributions electronically. The foundation's two committees, Minnesota CUs for Kids and the Minnesota Family Involvement Council can also be found on the new site.
Visit: www.mncufoundation.org
MidFlorida CU Plans Expansion
LAKELAND, Fla.-MidFlorida CU, fresh off a conversion from federal charter, has asked state regulators for permission to expand into adjacent Hillsborough and Pasco counties.
Kevin Jones, president of the $1.4-billion credit union, said initial plans under the new state charter are to expand from the credit union's Polk County base into adjacent areas. Of particular attraction are the auto dealers in those areas which could provide indirect borrowers as potential new members, said Jones. "We've been able to do very well at picking up deposits in our small market, but we're running out of quality deposits," he said.
