More CUs Enter Into Mergers
OTTUMWA, Iowa-The $359-million Community 1st CU has absorbed via merger the $2.2 million M.H.I. CU, Mount Pleasant, Iowa. The latter will continue to operate its branch inside the Mental Health Institute. In Worcester, Mass., the $550-million Webster First FCU has absorbed via merger the $22-million Fitchburg Municipal Employees FCU. And in Pennsville, N.J., the $1.5-million Salem County Federal Employees FCU is merging into the $74-million asset Deepwater Industries FCU. Finally, in Abilene, Texas, the 1,500-member People's Credit Union of Abilene is merging into Abilene Teachers FCU.
Family Wins $10K in Contest
SANTA ROSA, Calif.-A family who recently moved from Los Angeles so their infant son could grow up in rural Sonoma County won $10,000 in Redwood CU's inaugural Amazing Savers contest. The Jaworksis and four other families who are CU members worked closely with financial coaches from Redwood to improve their finances by budgeting, refinancing, reducing debt and investing. Chosen from more than 100 applicants, the five teams have taken part in the reality-entertainment-style contest since February and represented a range of financial situations. The other four competing families all won $1,000.
Farver Scholarship Is Endowed
SAN ANTONIO-San Antonio Credit Union (SACU) has made a $100,000 contribution to endow a scholarship in the name of Jeff Farver, who is retiring as president of the credit union. The Jeffrey H. Farver Endowed Scholarship will benefit Alamo Colleges students. The scholarship was announced during a special dinner to honor Farver at which colleagues, friends, local leaders and credit union leaders, including CUNA CEO Bill Cheney, were on hand. During his career, Farver oversaw growth from $500 million in assets to $2.9 billion.
White Paper On Online Tactics
MADISON, Wis.--The CUNA Marketing & Business Development Council has released a new white paper, "Online Marketing Tactics." Authored by Mark Arnold, the paper shares current technology trends. examines online marketing elements and the essentials of an online marketing strategy.
For info: www.cunamarketingcouncil.org.
Mellin Elected Head of AACUL
PALM BEACH, Fla.--Bill Mellin, president and CEO of the Credit Union Association of New York, has been elected chairman of the American Association of Credit Union Leagues (AACUL). Other members of the board include: 1st Vice Chairman, Wendell Lyons, CEO of the Kentucky league; 2nd Vice Chairman, Tracie Kenyon, CEO of the Montana CU Network; Treasurer, John Radebaugh, CEO of the North Carolina CU League, and Secretary, Mark Cummins, CEO of the Minnesota CU Network. As Chairman of AACUL, Mellin will also be an ex-officio member of the CUNA board.
Two CUSOs Join World Council
MADISON, Wis.-The World Council of Credit Unions has approved membership applications submitted by two CUSOs, U.S-based CU Direct Corp., and Scotland-based CUSSCO, Ltd.
Superhero Theme is Chosen
MADISON, Wis.--"Be a Credit Union Super Saver" has been chosen as the 2012 theme for National Credit Union Youth Week, to be held April 22-28, 2012. According to CUNA, the Super Saver theme "draws upon the powers of superheroes that also apply to saving at a credit union." The superhero theme was suggested by both Jennifer Moser, MSR at Union Pacific of Arkansas FCU, North Little Rock, Ark., and Kelsey Balcaitis, community education specialist at A+ FCU, Austin, Texas.
Charitable CIF Option Debuts
MADISON, Wis.--Through an alliance with MEMBERS Trust Co., the National CU Foundation has expanded its Community Investment Fund (CIF) options to include a Charitable Lead Trust, an option through which NCUF will receive annual payments calculated as a percentage of the market value of the assets held in the trust for a three- to five-year period. Unless donor credit union elects to renew the trust at the end of this payout period, the remaining assets in the trust will be returned to the credit unions, the NCUF said. The first investors in the Charitable Lead Trust option are GTE FCU in Tampa, Fla., and BECU in Seattle. For info: www.ncuf.coop.
Financial Counseling Guide Published
LANSING, Mich.-Financial counselors at Michigan's CUs have come together to create a guide called "Financial Counseling Best Practices," which is available at www.mcul.org. The guide was compiled by a working group of credit union financial counselors who are members of the MCUL & Affiliates' Financial Education Council. The guide includes program details and real-life operational experiences of several Michigan CUs (see related story, page 4).
SACU A Top Place To Work
SAN ANTONIO-Employees of Security Service FCU voted the credit union into a spot as a top workplace in San Antonio as compiled and reported by the San Antonio Express-News in its annual Top Workplaces edition. The credit union was ranked sixth out of the top 15 large companies in the city. In an opinion survey, employees were asked to share their views on six key areas: values and strategy, communication, career opportunities, work environment, quality of management and pay and benefits. The surveys were collected online and the top 50 workplaces named in late October.
