Aventa CU Takes Over SCCU
MOFFAT, Colo.-The $135-million Aventa CU has reached an agreement with NCUA to purchase-and-assume the members and assets of $17-million Saguache County CU, which the state regulator had earlier placed into conservatorship, with NCUA named conservator. The total combined membership is approximately 21,000.
NCUA Video Has Economic Update
ALEXANDRIA, Va.-NCUA has released its third installment in its YouTube series of videos. The latest video features NCUA Chief Economist John Worth, who offers an economic update and also discusses the agency's new interest rate risk rule. For info: www.youtube.com/ncuachannel.
More CUs Undergo Mergers
HOUSTON-Space City CU is absorbing via merger Independence Parkway Federal Credit Union. The combined credit union will have 8,200 members and assets of more than $56 million.
In St. Joseph, Mich., Honor Credit Union has completed its merger with Allegis Credit Union. The former Allegis CU facilities have been rebranded as the Allegis offices of Honor Credit Union. Honor offices are designated as Allegis branches.
REAL Solutions Session Is Held
NAPERVILLE, Ill.-The first of two in-person meetings in 2012 for participants in the Illinois REAL Solutions program has been held, with the meeting focus on "Attracting Younger Members, Eco-Friendly Loans, and Comparison of Popular Pre-Paid Cards." The second meeting will be held Oct. 16. For info: www.iculeague.org/leagueservices/realsol.htm.
Adams 1st CU Person Honored By SBA
LANSING, Mich.-The U.S. Small Business Administration has recognized David Adams, CEO of the Michigan Credit Union leaue, as the 2012 National Financial Services Champion for his "advocacy and work to increase small business lending at a time when access to capital is a national challenge." It is believed to be the first time someone from within CUs has been honored by the SBA. Adams had earlier also received the state-level Financial Services Champion award from the Michigan Celebrates Small Business organization. During Adams' tenure, Michigan CUs' small business loans have increased by an average of 21% in each of the past five years.
Step Up, Speak Up, Win $5,000
MIRAMAR, Fla.-Tropical Financial CU will pay $5,000 each to five people to step in front of the camera and tell viewers for a future ad campaign how the credit union has helped them or could help them achieve their financial goals. During April and May Tropical Financial is setting up a camera at three different locations to hold auditions for people over 12 years old who volunteer to participate. Five winners who best articulate the credit union's message will be chosen and asked to share their messages in TV, radio and print ads in exchange for $5,000.
12 Named To Western Catalyst Council
PLANO, Texas-Catalyst Corporate FCU has named 12 people as members of the western region Catalyst Councils. The western regional members are now part of the 36-person Catalyst Council program which was created to provide additional member perspective into planning and decision-making at Catalyst Corporate. The new members are: Scott Waite of Patelco CU, Ron Neumann of Oregon Community CU, Roger Ballard of NuVision FCU, Brian Hall of Foothill FCU, Bonnie Humphrey-Anderson of OSU FCU, Doug Kileen of Safe 1 CU, Patrick Vaughn of Idaho Advantage CU, Mark Morrison of MountainCrest CU, Rick Hanan of SMW104 FCU, Charles Papenfus of Inland Valley FCU, Elizabeth Lipke of Bourns Employees FCU, and Valerie Jensen of EW401 CU.
31 Nominated For CFPB Board
WASHINGTON-NAFCU has nominated three people and CUNA has nominated 28 people for the new Consumer Financial Protection Bureau Consumer Advisory Board.
Wis. Governor Signs 3 Bills
MADISON, Wis.-Wisconsin Gov. Scott Walker has signed three pieces of legislation affecting CUs. The first allows credit unions to double the amount of charitable contributions that can be made annually. The second allows public entities to place their deposits at credit unions and other depositories, and the third updates language in the Uniform Commercial Code.
WOCCU Urges Scaling Of Rules
PARIS-The World Council of Credit Unions (WOCCU) issued a statement saying it strongly supports revisions to regulations developed by the Financial Action Task Force (FATF) designed to combat money laundering and terrorist financing. It said it further supports the FATF's revised due-diligence recommendations, providing the rules are scaled to acknowledge CU members' relative lack of risk in these areas.
Johnson Honored By AACUC
MADISON, Wis.-The African-American Credit Union Coalition (AACUC) said it will offer the "Fred Johnson CEO Institute Scholarship" to honor CUES CEO Fred Johnson's long-time support of the organization. The scholarship will be awarded to a member of AACUC to attend CUES' CEO Institute and will cover up to half of the tuition annually. Johnson announced he will contribute the other 50% of the tuition, and that CUES will provide airfare for the scholarship winner.
