CUES' Johnson To Retire At End of '12
MADISON, Wis.-After leading the Credit Union Executives Society for more than 22 years, Fred Johnson will retire Dec. 31, 2012. "I am proud beyond words at what we have been able to accomplish since I came to CUES in 1989," said the CUES president and CEO. "Our membership numbers have doubled and our revenues have tripled. And, in accomplishing this, we have remained true to our mission: to educate and develop credit union CEOs, directors and future leaders." Prior to joining CUES, Johnson spent 27 years in the U.S. Army, including time on the faculty at the U.S. Military Academy at West Point, N.Y. He served as a director of West Point Federal Credit Union for six years. He also commanded infantry and Ranger units in Vietnam and was decorated for heroism and wounds received in action.
4 Leaders Recognized In West
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 Visits CU Branch
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.
Video Highlights Office of Small CUs
ALEXANDRIA, Va.-NCUA's Office of Small Credit Union Initiatives (OSCUI) has released a free training video, "An Introduction to OSCUI." This half-hour video provides an overview of OSCUI's role within NCUA, and highlights four programs for small credit unions: Direct Assistance (one-on-one consulting); Training (classroom and online); Financial Assistance (grants and loans), and Partnerships with government, non-profit and private organizations.
For info: www.ncua.gov.
Shared Branching Merger Gets OK
ONTARIO, Calif. -Shareholders in shared branching network Financial Service Centers Cooperative, Inc. (FSCC) have voted to approve a merger with CO-OP Financial Services. The transaction is expected to close in early 2012, unifying the two largest CU shared branch networks in the country. The two networks represent more than 1,700 credit unions nationally, including 4,400 physical branch locations in addition to 2,200 Vcom kiosk locations at 7-Eleven stores. Plans for the merger were first announced in September.
Two CUs Name New CEOs
DACATUR, Ill.-Ann Wildman has been named as the new president of the $16-million ADM Credit Union, replacing the retiring Don Tewell. Wildman was most recently president of Community Healthcare CU in Urbana. In Frederick, Md., meanwhile, the $217-million COMSTAR FCU has named Victoria M. Johnston president and CEO. Johnston has been serving as the interim president and CEO for nearly a year. She previously spent five years as VP-finance at COMSTAR. Prior to that, she worked as CEO of Eastalco FCU and comptroller for Public Health Service FCU, NAPUS FCU and Monocacy FCU.
Destinations Is UMEFCU's Destination
BALTIMORE-The $7-million United Maryland Employees FCU is being absorbed via merger by Destinations Credit Union. UMEFCU had voluntarily sought a merger partner.
Cost of Funds Report Launched
ARLINGTON, Va.-NAFCU has launched a Cost of Funds Report, a quarterly summary of aggregated funding cost data for federally insured credit unions (FICUs) that will help credit unions manage their cost of funds more efficiently, the association said.
It aggregates quarterly call report data from NCUA. The aggregate third quarter annualized cost of funds (as a percentage of average total assets) for FICUs is 0.94%, a decrease from the June 2011 figure of 0.96%, and below FDIC-insured institutions' figure of 0.75%, a decrease from 0.79%for June 2011.
For info: www.NAFCU.org.
Marketing Service Debuts In Penn.
HARRISBURG, Penn.-The Pennsylvania CU Association is piloting a new program through subsidiary Pacul Services that will provide a fee-based marketing consulting service. Services willinclude implementing and tracking marketing strategies, advertising and more.
News updates at www.cujournal.com.
SAN DIEGO-San Diego County Credit Union reported that its "Shred Your Big Bank Debit Card" campaign, which was tied to Bank Transfer Day, resulted in a near-doubling of the normal number of new checking accounts opened monthly. Using social media, the campaign offered members who opened a new SDCCU checking account and posted a photo of themselves shredding their big bank debit card a chance to win $1,000. More than 125 photo entries were received and SDCCU increased its Facebook "likes" by nearly 25% during the campaign, with Monica Padilla winning the grand prize. SDCCU reported it opened 4,049 checking accounts during November, which was 65% higher than the credit union's average during the first six months of the year. In addition, during October and November total membership growth was up 235% (to 223,980 members).
KALAMAZOO, Mich.-Consumers Credit Union said it will open two branches in 201, one here and another in Mattawan, Mich., the latter part of the City Center Project. Both offices are scheduled to open in June of 2012, and will be approximately 3,100 square feet in size.
