Five CUs Name New Leaders
LOVES PARK, Ill.-Five credit unions have named new CEOs. Michael T. Rosek has been named president/CEO of Rock Valley CU. Rosek was most recently with Patelco Credit Union, Pleasanton, Calif. In Poughkeepsie, N.Y., TEG FCU has named Ronald A. Flaherty as its new CEO, replacing Joseph T. Prokop, who retired after 32 years in the position. Flaherty has been with TEG since 2000, most recently as EVP/CFO. In Scranton, Penn., Sean Jelen has been named CEO of the $155-million Tobyhanna FCU, succeeding Jim Kanaley, who retired. Jelen had served most recently as COO of Palisades FCU in Pearl River, N.Y. In Laurel, Md., Laura Hassan has been named CEO of Market USA FCU, succeeding Robert McClosky, who had served as CEO since 2002. Hassan had been EVP with Market USA, and has been with the credit union since 1994. And in Burbank, Calif., the $200-million AFTRA-SAG FCU is marking its 50th anniversary with a new CEO, Roger Runyan. Runyan had been VP/CFO.
UK's Credit Unions Get New Powers
LONDON-The U.K's credit unions have been granted sweeping new powers to add members. CUs in the UK had been limited to FOMs comprised of one group of people, and only individuals were eligible, not organizations or companies. CUs no longer need to prove eligible members have something in common. In addition, CUs will be able to pay interest on deposits, rather than just a dividend. The Association of British Credit Unions hailed the long-sought changes as critical to CU growth.
Pizza Party for 1,600 People
AN 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.
People for People In Conservatorship
PHILADELPHIA -NCUA placed into conservatorship the $1.1-million People for People Community Development CU. The move came two months PPCDCU received a cease-and-desist order requiring it to add to its loan loss reserves and clean up its financials. The tiny CDCU had less than 1% net worth at the end of the third quarter.
Southeast Financial, First Ohio Merge
FRANKLIN, Tenn.-The $403-million Southeast Financial CU is absorbing First Ohio CU, Fostoria, via merger. FOCU was founded in 1948.
Save To Win On CBS Program
SOUTHFIELD, Mich.-CBS This Morning featured Michigan's prize-linked savings program, "Save to Win," in a national report. Among those interviewed were Michigan CU League CEO David Adams, and Communicating Arts CU CEO Hank Hubbard.
Bethpage CUSO Named As 'Best'
BETHPAGE, N.Y.-Bethpage Investment Strategies, a CU of Bethpage FCU, has been named Best Financial Planner on Long Island by the readers of Long Island Press. BIS offers products and services through Tampa-based INVEST Financial,
Edwards New WOCCU Counsel
MADISON, Wis.-Michael Edwards has been named chief counsel and VP-advocacy and governmental affairs for World Council of Credit Unions. The newly created position is designed to more effectively address the growing global advocacy needs of its member organizations, WOCCU said. Edwards was previously senior assistant general counsel with CUNA.
GOCU Sponsoring Club At Games
ATLANTA-The Atlanta Braves will debut an exclusive club for the 2012 season, the Georgia's Own CU Club, adjacent to the press box. It will feature valet parking, upscale food, in-seat wait service, $30 per seat food and beverage credit per game and a TV at each table.
"The new Georgia's Own Credit Union Club gives fans a chance to get valet parking, preloaded credit onto the ticket for food and beverage and covered reserved table seating, while watching Braves games from some of the best sightlines inside Turner Field," said Derek Schiller, EVP with the Braves. A private, air conditioned club is located behind the tables. Tables are now available for multiple year leases starting at $14,580 for a two-seat table or $27,540 for a four-seat table.
