Eastman CU To Pay $4M Dividend
KINGSPORT, Tenn.-Eastman Credit Union will pay members a $4 million extraordinary dividend early in 2010. The payout will reward both savers and borrowers and is based on how much business each member did with the credit union in 2009. ECU reported a $13.5 million net for the first three quarters of the year, even after recording an $11.9 million charge for the corporate assessment. This bonus dividend the 13th consecutive year that the $2.3 billion credit union has declared such a payment.
Connecticut League Thanks Membership
MERIDEN, Conn.-Management and staff of the Credit Union League of Connecticut have visited each of the league's affiliated CUs to thank them for their membership and to hand-deliver dues notices for 2010. "Providing uncommon, superior member service during a tough economy often means simple, good business, setting an organization apart from its competition," said CEO Tony Emerson.
NMA FCU Acquires Shore Memorial FCU
NASSAWADOX, Va.-The $2-million Shore Memorial FCU is being absorbed via merger by the $54-million NMA FCU, Virginia Beach, Va.
Firefighters Coalition Announces Summit
ST. LOUIS-The Firefighters Coalition of Credit Unions said it will hold its annual Firefighter's National Credit Union Summit in San Antonio, Oct. 3-6, 2010.
WCUL Staffer Appointed To SBA
OLYMPIA, Wash.-Calvin Goings, senior policy adviser to the Washington Credit Union League and former Washington state senator, has been appointed by the Obama Administration as regional administrator for the Small Business Administration (SBA), overseeing Region X headquartered in Seattle with offices in Washington, Oregon, Alaska and Idaho.
New Low-Income CU In NY Receives Charter
QUEENS, N.Y.- East Side Development Alliance FCU here has received its charter, just the second CU to be chartered by NCUA in 2010. The low-income charter will serve the 325,000 people who live in Queens districts one and two and New York City. It plans to open its doors in April 2010.
The only other credit union chartered by NCUA or state regulators this year was First Bergen FCU, chartered in January in Hackensack, N.J., making 2009 the slowest year for new charters in more than 75 years, since the signing of the Federal CU Act, according to experts.
The credit union was organized by the East River Development Alliance located in Long Island, New York. ERDA is a non-profit organization whose mission is to transform and improve New York City public housing neighborhoods by providing residents with the tools and opportunities necessary for self-sufficiency and economic mobility. Established in 2004, ERDA provides educational, support, counseling, and referral services to encourage youth development, workforce development, wealth building, and community revitalization.
