ASI Announces New Premium
DUBLIN, Ohio-Private deposit insurer ASI announced last week it will be charging its credit unions a special premium for the third straight year of 15 basis points. The premium will be assessed on all primary insured credit unions of record on Sept. 30 and based on the total shares reported as of June 30.
Subject to final regulatory approvals, the Special Premium Assessment is expected to be billed on or about September 30. The premium will cost ASI's 125 primary insured credit unions around $15 million.
The premium assessment does not apply to excess share insurance policyholder credit unions insured by Excess Share Insurance Corporation.
"Lower yields on our high-quality government bond portfolio and a hesitant economic recovery have strained our earnings, while weaknesses in a small number of member credit unions in select markets have required a more aggressive posture when funding our loss reserves," said ASI President Dennis Adams.
More CUs Enter Into Mergers
MELROSE, Minn.-Central Minnesota CU, with $580 million in assets, has agreed to merge into it Heart of Lakes CU, a $22-million CU based in nearby New York Mills, Minn. In conjunction with the merger, Heart of Lakes President Harold Siirila will retire as planned after 36 years of service with the credit union.
In Chelsea, Mass., meanwhile, Metro CU, which recently entered 14 area college campuses with the acquisition of Boston's University CU, will get another metro-Boston branch with the planned merger of the $22-million Secure CU in Melrose. Metro CU will have $910-million in assets when the merger is complete.
Cheney Named To Assn. CEO
WASHINGTON-CEOUpdate, a Washington-based newsletter for association and nonprofit executives, has included CUNA President/CEO Bill Cheney on its list of "Top Association CEOs of 2011." "In just his first year as CEO, he gets credit even from adversaries for nearly scoring a major upset in the debit card swipe-fee battle," the publication said. Cheney called the recognition a "nice acknowledgement of the association's focused team effort on behalf of our member credit unions."
Three CUs Name New CEOs
PUEBLO, Colo.-Pueblo Government Agencies FCU has named CFO Susan McKay as the new president and CEO of the $25-million credit union. Meanwhile, in Ogden, Utah, Shelley Clarke, who built Goldenwest CU into a $775-million credit union over the past 10 years, is retiring at year end and will be succeeded by vice president Kerry Wahlen.Wahlen has 33 years of experience in the financial industry. He has been with Goldenwest since 1986.
And in Livermore, Calif., UNCLE Credit Union has named Harold Roundtree as its new president/CEO. Roundtree was most recently SVP-Retail Banking Division of Technology Credit Union, San Jose, Calif.
NJ Campaign Materials In Spanish
HIGHTSTOWN, N.J. -The New Jersey Credit Union League's "Banking You Can Trust" Toolkit, which allows member CUs to create customized marketing materials and advertisements, now has a Spanish language option. For info: www.njcul.org.
Grants Awarded In Illinois
NAPERVILLE, Ill.--The Illinois Credit Union Foundation has awarded $37,207 in Small Credit Union Development (SCUD), Community Service, Marketing and Business Development, and Financial Independence & Revitalization Effort (FIRE) grants, bringing the total awarded for the year to nearly $68,000. The eight recipients of SCUD grants will use the funds to purchase computer hardware and software, equipment and upgrades, and other operational needs. The $500 Community Service Grant went to Hawthorne Credit Union to help support "Families Helping Families," a local social service organization that provides apartments and volunteer mentors to homeless families while they are working to reclaim their lives through education. The Marketing and Business Development grants will be used by five recipients to help underwrite bill pay and courtesy pay implementation, e-marketing campaigns, software for ATM cards, and more.
An $8,000 FIRE grant went to Streator Onized Credit Union to provide assistance to credit unions to open a new student-run credit union branch at a local high school.
'Talent Management' Paper Released
MADISON, Wis.-The CUNA HR/Training & Development Council has published a new white paper: "Tools, Techniques, and Technology Improve Credit Union Talent Management."
The white paper discusses measures that credit unions can take to improve their practices throughout the talent management life cycle, including improving the bridge between hiring and training, known as "onboarding," making life-long learning part of a CU's culture, and adopting software solutions that tightly integrate all the components of acquisition, training, management, promotion, and knowledge transfer in one interface.
For info: go to the white paper section of www.cunacouncils.org - select the "HR/TD" tab for both. The white papers are free to members of the CUNA Councils; non-members can get a copy for $50 per white paper.
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