Tool IDs Hispanic Potential Members
MADISON, Wis.-CUNA has rolled out a tool for CUs targeting Hispanic consumers. "El Poder es Tuyo" (the power is yours) is the customizable, personal finance website developed by CUNA and Coopera Consulting, a subsidiary of the Iowa Credit Union League. For info: tuyo.cuna.org/1/index.php
Southeastern League Officially Launches
BIRMINGHAM, Ala.-TALLAHASSEE, Fla.-The League of Southeastern Credit Unions officially debuted its new look, direction and mission as 2010 kicked off. The league is a combination of the Alabama and Florida credit union leagues, which approved of the resource combination in 2008. The league also has a new website, www.lscu.coop, that will help members keep up with and comment on the latest regulatory and compliance issues, register for conferences, attend webinars and find new product offerings. LSCU will retain its management teams from both state leagues and keep its offices in both states as well.
OH CUs Rack Up Strong Auto Loan Numbers
COLUMBUS, Ohio-Despite a decline in vehicle sales, total auto lending market share increased to a record 18.2% at Ohio credit unions from September 2008 to September 2009. Similarly, first mortgage originations increased 51.9% during the same time period, totaling $1.37 billion in 2009 versus $904 million in 2008. Membership also grew during the 12-month statistical period, as more than 53,000 Ohioans joined credit unions, according to the Ohio CU League. Over the same period capital levels averaged 11.9%; overall lending increased 6.64%; delinquencies rose to 1.37% in September, up from 1.21% the previous year, and member business loans were up 11.2% to $333 million in outstanding loan balances. The data is based on performance at 90 credit unions in the state.
Associated, CSRA Complete Merger
ATLANTA-Associated CU, a $1.2-billion credit union, completed the merger of CSRA FCU on Nov.1. Associated CU is now operating the merged entity as CSRA Credit Union, a division of Associated CU. The $53-million institution, which boasted more than 12,300 members, provides Associated CU an opportunity to enter the Augusta metro area as CSRA FCU has four offices in that city. Associated CU's CEO C. Lin Hodges said the merger will provide expense reduction through economies of scale, but noted that there will be no layoffs.
New Year, New CEO: CUs Tap Top Execs
PORT NECHES, Texas-Several credit unions all announced they have tapped new CEOs, including:
* J. Angelle has taken the reins at MCT CU, here, following the departure of Lee Robinson. Robinson has 25 years of experience in the financial services industry and has worked at MCT since 2004.
* First City CU, Los Angeles, appointed Terry O'Steen to become the next CEO. O'Steen has 35 years of experience in financial services and has worked at First City since 1995.
In other news, Securityplus FCU said CEO Timothy Carney is retiring after 21 years with the CU.
