May Takes Over As CUNA Chair
WASHINGTON-Harriett May has become the new chairman of CUNA. May, president/CEO of GECU in El Paso, Texas, had been serving as vice chair before moving up to fill the chairman's seat vacated by Kris Mecham, who has left to do church missions work in Mongolia (CU Journal, May 31). May's term will expire in February, 2011.
NCUA Extends Guarantee Program
ALEXANDRIA, Va.-NCUA has extended the expiration date of its Temporary Corporate Credit Union Share Guarantee Program (TCCUSGP) to Sept. 30, 2012, meaning new investments with maturities of two years or less in participating corporates made before Sept. 30, 2012, will be fully covered by the guarantee program. This is in addition to the existing deposits already covered.
Miracle Match For CMN Is Back
RANCHO CUCAMONGA, Calif.-CO-OP Financial Services is again offering its "Miracle Match" program for CUs raising funds for Children's Miracle Network. The program awards $1 million in matching funds annually for Credit Unions for Kids events.
For info: www.co-opfs.org or e-mail miraclematch@co-opfs.org
NASCUS Comments On Proposal
ARLINGTON, Va.-In a comment letter to NCUA on its proposed rule 708a and 708b (mergers and conversions), the National Association of State Credit Union Supervisors (NASCUS) reiterated its position that the agency should defer to state law for merger and conversion issues of federally insured, state-chartered CUs. "A show of regulatory deference by NCUA to explicit state law in this arena, without regard to whether that state law or regulation was more restrictive than NCUA's proposal, would be consistent with the dual role played by NCUA as both a chartering and a share insurance regulator," wrote NASCUS. "With respect to state credit unions, NCUA is only the share insurer, not the chartering authority. Vindication of the members' rights and other governance issues are properly left to the chartering regulator-in these cases, the states."
White Paper Examines CUSOs
MADISON, Wis.-A new white paper from the CUNA Lending Council examines how a credit union-CUSO relationship can leverage expertise, innovation, economies of scale and the aggregate power to make services available to members at reduced cost. Those elements and others are explored in, "Finding the Right Shoe: Guidelines for A Successful CUSO Fit," and is based on interviews with CU lending execs and CUSO owners. For info: white paper section of www.cunacouncils.org-select the "Lending" tab.
College Savings Option Offered
RALEIGH, N.C.-State Employees' CU is now offering an investment option for the state's National College Savings Program in conjunction with the North Carolina State Education Assistance Authority.
ecoChecking Account Is Launched
CHICAGO-KCT CU has launched is ecoChecking Account, which gives members more Internet banking features in an effort to generate less paper and decrease the carbon footprint. The new product features no paper checks or statements, free online bill pay, eStatements, 24/7 online banking and a debit card made from 86% recycled plastics.
For info: www.kctcu.org.
Health Care Webinar On Tap
MADISON, Wis.-CUNA Mutual Group's will host a free Discovery Webinar, "Health Care Reform: Maneuvering the Compliance Maze," from 1:15 to 2:15 p.m. EDT on June 29. It will provide a timely and comprehensive overview of the expectations the law places on employers, the risks of being out of compliance and practical steps to meet obligations the new law requires, CUNA Mutual said.
For info: cunamutual.com
Yolo Recognizes Hall of Famer
WOODLAND, Calif.-Yolo FCU hosted more than 80 people representing regional cooperatives for a reception honoring CU vice chairman and cooperative leader David J. Thompson at a branch recognizing Thompson for his induction into the Cooperative Hall of Fame at a ceremony at the National Press Club in Washington.
AEFCU Launches Donor-Advised Fund
EAST HARTFORD, Conn.-American Eagle FCU established a Donor-Advised Fund with the Hartford Foundation for Public Giving to serve as the $1.3-billion CU's primary charitable investment vehicle, and to provide ongoing financial support to the Greater Hartford area. The Fund will work to recommend grants to qualified nonprofit organizations. The Hartford Foundation holds and administers over 1,000 funds, including 135 donor-advised funds.
Longest-Serving Officer Retires
MADISON, Wis.-Don Davidson, VP-CU System Relations, has retired after 37 years with the company-the longest-serving officer in CUNA Mutual's 75-year history. During his career Davidson held numerous positions with CUNA Mutual, including as its first recruiter in HR, as a leader in negotiating four labor contracts, rebuilding its international sales team, and numerous other functions.
