Haiti's CUs Launch Remittances
PORT-AU-PRINCE, Haiti-Seven credit unions affiliated with the Le Levier network in Haiti have launched remittance services through the World Council of CUs' International Remittances Network (IRnet). Haitians can now receive remittances at their local CU through money transfer operator (MTO) Ria Financial Services Inc., a 100,000-agent network in 131 countries across five continents. According to the World Bank, Haiti annually receives $1.5 billion in remittances.
Ripco CU Absorbs Nicolet CU
RHINELANDER, Wis.-The $77.8-million Ripco Credit Union here is absorbing the $20-million Nicolet CU via merger.
Hazen To Step Down In 2012
WASHINGTON-Paul Hazen, president of the National Cooperative Business Association, said he will step down in 2012. Hazen has been with the NCBA for 25 years, the past 12 as president.
UECU Named Top Place To Work
READING, Penn.-Utilities Employees CU has been named one of the "Best Places to Work in Pennsylvania" for 2011, the second consecutive year it has been recognized in the awards program sponsored by the Team Pennsylvania Foundation, the Pennsylvania Department of Community and Economic Development, the Pennsylvania State Council of the Society for Human Resource Management and the Central Penn Business Journal. The program recognizes the 100 best places to work in the state based on a number of criteria.
Former CEO Barred From CUs
ST. CLAIR SHORES, Mich.-David Russell, former CEO of the defunct $12-million Shores Area CU, has been barred from working in credit unions again by the state's Office of Financial and Insurance Regulation. The regulator said Russell engaged in unsafe and unsound practices, including improper loan administration, inaccurate financial reporting and more. SACU was merged into Unity CU, Warren, Mich.
UFCU Donates $1.7M To School
AUSTIN, Texas-University FCU has donated $1.7-million to renovate the gym at St. Edward's University, which will rename the building University Federal Credit Union Alumni Gym. UFCU has contributed more than $2 million to St. Edward's since 1991.
NavyArmy Seeking To Expand
CORPUS CHRISTI, Texas-The $1.2-billion NavyArmy FCU has applied to convert to a state charter and to add an estimated 1.2 million residents in nearby Hidalgo and Cameron counties to its FOM.
HRCU Breaks Ground On Center
CORINTH, N.Y.-The $160-million Hudson River Community CU, the credit union for International Paper Co., has broken ground on a new operations center on the grounds of its corporate sponsor. The $3 million, two-story, 16,000-square-foot headquarters will be built on a 10-acre portion of the IP property. Completion is slated for fall 2012.
Chetco FCU In Conservatorship
HARBOR, Ore.-NCUA has placed Chetco FCU into conservatorship. The one-time $375-million CU lost $212,000 for the first six months of this year after a $17 million loss for 2010. Its assets had declined to $333 million and net worth to 5% at June 30.
FAIRWINDS To Sponsor Racing Truck
ORLANDO, Fla.-FAIRWINDS CU has signed with NASCAR's Rosarius Racing to sponsor its No. 18 Chevrolet truck driven by Jason Rosarius. "This is a new sponsorship avenue for FAIRWINDS and we are excited to be exposed to the highly popular racing market," said Dianne Owen, EVP-marketing at FAIRWINDS. Rosarius will move up to the NASCAR K&N series in June.
White Paper On E-Services
MADISON, Wis.-The CUNA Operations, Sales & Services Council has released a white paper on how to develop an organization-wide strategic plan for delivery of e-services, including sub-plans at the functional level listing projects that align with organizational goals. The paper also discusses likely future e-services trends and includes six case studies of credit unions with sophisticated, effective e-services solutions. For info: go to the white paper section of www.cunacouncils.org and select the "OpSS" tab.
Kansas CUA Makes Move
WICHITA, Kan.-The Wichita office of the Kansas Credit Union Association has a new address:
2872 North Ridge Road Suite 122 Wichita, KS 67205.
