ESL FCU Pays Members $7 Million Bonus
ROCHESTER, N.Y.-ESL FCU delivered special owners' dividends to 288,000 members last week, a total of $7.25 million.
An ESL owners' dividend is determined by adding the total dividends earned on share accounts at ESL to the total interest paid on ESL loans throughout the year. The total amount is then multiplied by a percentage determined by the board of directors each year. This year, a member with a typical mortgage will receive a payout of more than $227. All dividend payouts were made to members via direct deposit on Jan. 21.
WOCCU Accepting Nominations Until April 5
MADISON, Wis-World Council of Credit Unions is calling for nominations for its Distinguished Service Award (DSA), the highest honor bestowed by the international credit union system. Nomination forms are due no later than April 5, 2010. The DSA honors the outstanding support of the worldwide credit union movement. Award presentations this year will be made at The 1 Credit Union Conferencem July 11-14 in Las Vegas.
For info: www.woccu.org/recognition.
Michigan CU Figure Richard Lowe Passes
DETROIT- Richard Lowe, former CEO of Detroit Postal CU and a well-known figure among the state's credit unions, passed away Jan. 13. Lowe was a long-time director at Southeast Michigan State Employees FCU. He also served as chairman of the former state trade association, MACU, after working as an examiner in the CU Division of the state Financial Institutions Bureau.
CU Takes Its Name To Mainstreet
LENEXA, Kan.-The $232-million Credit Union of Johnson County is changing its name to Mainstreet Credit Union. The CU made the name change to reflect an expanded FOM, and plans to advertise the new moniker during the Super Bowl pregame show.
Nebraska Intro's Better Your Money
OMAHA, Neb.-The Nebraska CU League has launched BetterYourMOney.org, a microsite aimed at increasing membership by improving perceptions and knowledge of credit unions. The site includes money tips, a directory of CUs in the state, a blog and other information. Members will also be able to tell their own CU story by posting videos and blogging on the site.
DATCU Pays Out 1% Bonus Dividend
DENTON, Texas-DATCU Credit Union members will be receiving an additional dividend as the board recently approved a one-time 1% bonus due to the CU's "strong financial year" in 2009. The additional dividend gives members a 1.75% rate for the last quarter. The 73 year old institution also received a perfect score on its financial performance from IDC Financial Publishing; one of only three credit unions in the U.S. to do so in the category of $250 million assets or above.
