More Rebates, Bonuses Paid
KINGSPORT, Tenn.-Eastman CU said it will distribute a $5-million extraordinary dividend payments to eligible members in February. Eastman has awarded a total of $50 million in extraordinary dividends to eligible members since 1998. Meanwhile, Detroit Metropolitan CU announced it is paying an 8% rebate on any loan interest paid by borrowers during 2011, while also paying a 50-basis-point bonus on deposits during the fourth quarter. And in Texas City, Texas, AMOCO FCU is returning $1 million in bonus dividends and loan interest refunds to members.
More Millionnaires In Maryland, DC
GLENEIG, Md.-The Credit Union Foundation of Maryland and DC has expanded its "Millionaire's Club" financial literacy program aimed at high school students to the Applications Research Lab in Howard County, Md. It is currently operating in eight schools.
Lessons From U.S. In Lobbying
WASHINGTON-The World Council of Credit Unions and CUNA hosted a two-day workshop at Credit Union House here for CU and trade association representatives from nine Latin American and Caribbean CUs to learn ways to improve their lobbying skills. Participants came from Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Mexico, Paraguay, Peru and the U.S. territory of Puerto Rico.
$1 Million Donated To BizKid$
MADISON, Wis.-Three CUs have collectively donated $1 million to underwrite BizKid$, the credit union-backed TV series on money management that airs on PBS and is backed by credit unions. Committing the funds are BECU, Tukwila, Wash.; SECU in Raleigh, N.C., and SchoolsFirst FCU in Santa Ana, Calif. The TV series is overseen by the National Credit Union Foundation.
New Charter For Lakota Indians
KYLE, S.D.-Organizers have received preliminary approval for a CU to serve the Lakota Indians, also known as the Sioux, at their Pine Ridge Reservation here, which covers 70,000 square miles in the western third of South Dakota and is home to 40,000 Native Americans, but which does not have a single bank or CU. The Native American charter is being funded by a $150,000 grant from the Treasury Department's CDFI fund to the Lakota Funds, a CDFI sponsored by the Lakota Nation.
White Paper On Lifetime Value
MADISON, Wis.-The CUNA Operations, Sales & Service Council has released a white paper titled "Building Member Lifetime Value," which discusses five strategies used to leverage MLV to drive revenue and profitability. Author Jeff Rendel provides real-world examples of credit union successes and shares the tools each used to build their MLV. For info: www.cunacouncils.org.
Building Rededicated To Former CEO
MARGATE, Fla.-City County Credit Union here has rededicated its main office building in the memory of William "Bill" Marquardt, who was president and CEO for 17 years prior to his death. During his career Marquardt oversaw growth to $375 million in assets from $67 million, and initiated a number of innovative services, including its AutoBranch. Marquardt's wife, Donna, and family were on hand for the unveiling of building plaques and the planting of a tree in his honor.
UWCU's Literacy Efforts Recognized
MADISON-The Governor's Council on Financial Literacy has named University of Wisconsin CU as one of the winners of the 2011 Wisconsin Financial Literacy Award. UWCU was recognized for reaching more than 8,000 people during the year with its financial literacy programs.
MFCU 'Best To Work For'
LATHRUP VILLAGE, Mich.-Michigan First CU has been named one of the nation's "Best and Brightest Companies To Work For" by the National Association for Business Resources. The award recognizes internal practices that are considered to be leaders in employment standards.
Autotruck FCU Moves To State Charter
BOWLING GREEN, Ky.-The $84.4-million Autotruck FCU is dropping the "Federal" but not the "FCU" in its name, after being approved by Kentucky's DFI to change its name to Autotruck Financial Credit Union.
SDCCU Sponsors Big Bay Balloons
SAN DIEGO-San Diego County Credit Union was the presenting sponsor of the San Diego Big Bay Balloon Parade, which it has sponsored for the past nine years. The parade attracted more than 100,000 people and included more than 20 giant character balloons - more than appear in any other parade in the country, including the more famous Macy's Thanksgiving Day Parade. Among those balloons SDCCU's 30-foot-high sailboat inflatable.
Pizza Party For 1,600 People
SAN ANTONIO-Security Service FCU threw a pizza party for more than 1,600 people to celebrate donating more than $660,000 and 7,000 hours of volunteer times to community organizations during 2011. SSFCU reported that 1,536 employees (96% of all staff) donated $274,267 to United Way in Texas, Colorado and Utah, and raised another $191,000 for the Leukemia and Lymphoma Society, along with other funds raised during 2011.
Rosek named CEO At Rock Valley
Has Mug: Rosek LOVES PARK, Ill.-Michael T. Rosek has been named president/CEO of Rock Valley CU. Rosek was most recently with Patelco Credit Union, Pleasanton, Calif., and has more than 25 years credit union experience.
