SSFCU Named A Top Workplace
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.
New Mergers And Liquidations
YORK, Penn.-The $57-million White Rose Credit Union has submitted a request with the Pennsylvania Dept. of Banking to absorb via merger $4.2-million Central York FCU. CYFCU has 900 members. In Dyersville, Iowa, meanwhile, members of the $12-million RACOM Community CU have voted in favor of merging with the $505-million DuTrac Community CU, Dubuque. Meanwhile, in Endicott, N.Y., the $2.7-billion Visions FCU has assumed the $41.3-million BCT FCU in Binghampton following the latter's conservatorship.
In Eugene, Ore., NCUA has liquidated O.U.R. FCU, a one-time $5-million operation it has been running under conservatorship since October, and assigned the remnants to Northwest Community CU, a $675-million credit union in nearby Springfield, Ore. O.U.R., which served the residents of Lane County, Ore., lost $2.3 million for the first nine months of 2011 and had negative net worth of $2.1 million.
Broad FOM Expansions Are OK'd
BELTSVILLE, Md. - N.A.R.C. FCU, which serves a handful of federal agencies, was approved by NCUA to convert to a TIP charter serving more than 350,000 federal employees and their family members in the greater Washington area. The $27-million credit union currently serves employees in the SDA George Washington Carver Center, Agricultural Research Center and the Patuxent Research Refuge for the Fish and Wildlife Service at Beltsville, Md.; employees of the U.S. Plant Station who work at Glenn Dale, Md.; employees of the National Arboretum; Soil Conservation Service employees and a variety of select groups. The TIP, which stands for tradewide, industrywide or professionwide, charter, is identical to one NCUA granted Constellation FCU in Washington last year.
Meanwhile, in Corpus Christi, Texas, NCUA said it has approved the conversion of Navy Army FCU to a state charter, the biggest conversion to state charter ever approved. The Texas charter will allow the $1.3-billion credit union to convert to a community FOM and serve 1.2 million people in surrounding Hidalgo and Cameron counties. The new name of the credit union will be Navy Army Community CU.
Conn. CUs Donate $25K To Help
MERIDEN, Conn.--The Connecticut Credit Union Charitable Foundation has presented checks totaling $25,000 to Connecticut Gov. Dannel P. Malloy's Care & Share Holiday Food Drive program for benefit of the Connecticut Food Bank and Foodshare.
CU Cleared To Acquire Bank
ST. JOSEPH, Mich. - NCUA has cleared the acquisition by United FCU of Griffith Savings Bank, the first purchase of a bank by a federally chartered credit union, and the deal now awaits approval by the FDIC.
"It's been approved, with stipulations, by NCUA," Gary Easterling, president of the $1.3-billion UFCU told Credit Union Journal. He said he expects the FDIC to rule on the acquisition soon so depositors of the $81-million Griffith, Ind., savings bank have the required 15 days notice before the completion of the deal, projected for Dec. 31.
Among the stipulations in the NCUA approval are the divestiture of certain loans held by Griffith that are non-permissible for federally chartered credit unions and FDIC approval. Terms of the deal call for the sole branch of the 73-year-old savings bank to become a branch of the Michigan CU, which is located about 90 miles away.
Assessments Hurting CU Health
WILMINGTON, N.C.-The credit union community's "HealthScore" declined during Q3 to 2.341 from 2.432, according to Glatt Consulting here, which publishes the score each quarter. The new score is a -3.78% change from Q2 2011 but a 0.47% change from Q3 2010. The industry's highest score, 3.321, came in Q1 2001. The lowest industry HealthScore was Q4 2010's score of 2.263. The company said its HealthScore is a composite performance score reflecting the overall financial health of U.S.-based CUs, and is based on a five-point scale, with 5 being the most healthy. Glatt Consulting said the ongoing NCUA assessments continue to negatively affect the score.
MWCUA Honors Four People
DENVER--The Mountain West Credit Union Association has recognized four people: Christine McClatchey of College Credit Union as its Volunteer of the Year in Colorado; Liz Luce of First Education FCU as its Volunteer of the Year in Wyoming; Mike Williams of Colorado Credit Union as its Professional of the Year in Colorado, and Steve Higgenson of Reliant FCU as its Professional of the Year in Wyoming.
Stanley Cup In CU's Lobby
LOWELL, Mass.-- Jeanne D'Arc Credit Union partnered with the University of Massachusetts Lowell to bring the National Hockey League's championship trophy, the Stanley Cup, to the CU's hometown. The trophy is currently in possession of the NHL Champion Boston Bruins. Jeanne D'Arc reported that thousands of hockey fans lined up to have their photo taken with the Cup, which was on display inside the CU's offices for three hours.
