NCUA: $9.5 Million Is Available
ALEXANDRIA, Va.-NCUA said it will be making $9.5 million in loans from the Community Development Revolving Loan Fund available to low-income CU in 2013. Operated by NCUA's Office of Small Credit Union Initiatives (OSCUI), the Revolving Loan Fund assists LICUs in providing financial services to low-income members to stimulate economic activities in their communities. The agency generally makes five-year loans up to $300,000, but the loan may exceed this amount on a case-by-case basis. The interest rate on the loans is 0.4%. For info: www.ncua.gov.
Two CUs Make Workplace Lists
VIENNA, Va.-FORTUNE Magazine has named Navy Federal Credit Union to its 2013 list of "100 Best Companies to Work For." It is Navy Federal's third appearance on the list and it remains the only CU ever included. Navy Federal has more than 10,000 employees and 229 branches. "We value employees who want to be part of a winning team and will embrace our corporate culture," said CEO Cutler Dawson. Meanwhile, in Arvada, Colo., Partner Colorado CU was ranked #3 among Denver's "Best Places to Work" in the medium-size company category by the Denver Business Journal. It is the eighth year in a row that PCCU has been named in the top ten "Best Place to Work" in Denver.
Van Frank Named Share One CEO
MEMPHIS, Tenn.-Share One, Inc. has named Teri Van Frank as its new president/CEO, succeeding the retiring Daryl Tanner. Van Frank had previously been SVP/COO and has been with the CUSO for 30-years, beginning as an administrative assistant. Share One serves 89 credit unions with its NewSolutions core system.
Xceed Pledges $25K To Filene
EL SEGUNDO, Calif.-Xceed Financial Credit Union has increased its support to become the first natural-person credit union to support the Filene Research Institute as a Silver Benefactor by contributing $25,000 annually to the Institute. XFCU is a long-time supporter of Filene.
MSUFCU Donates $1 Million
EAST LANSING, Mich.-Michigan State University FCU has donated $1 million to Michigan State to endow a jazz artist-in-residence program. The university said the residency program will bring established musicians such as Branford Marsalis as well as rising figures in the jazz world to East Lansing for a week at a time. They'll work with students and perform.
$16K Donated To Kenya Centre
MADISON, Wis.-Credit unions and individuals throughout California and Nevada contributed more than $16,000 in funds, of which the leagues matched $10,000, to support the construction of a new facility for Busia Compassionate Centre, an orphanage in rural western Kenya supported by World Council of Credit Unions. CUs that donated funds include Greater Nevada, CoastHills, Keypoint, Kinecta, Meriwest, Mission FCU, North Island, Redwood, San Mateo, United Health and Xceed.
Three CUs Name New CEOs
FARMINGTON, Maine-The $72-million Franklin-Somerset FCU has named Karen Greenleaf as its new president and CEO. Greenleaf was previously VP-accounting manager and had also been acting CEO following the death of then-president Cass Hirschfelt in August, 2012. Meanwhile, in Ft. Wayne, Ind., 3Rivers FCU has named Don Cates as its new president/CEO. Cates was previously EVP-sales and lending. And in Albuquerque, N.M, the $740-million U.S. New Mexico FCU has named Marsha Majors as president/CEO, succeeding James Raquet, who is retiring after 10 years. Majors was previously VP/COO.
Booker To Speak At THINK
RANCHO CUCAMONGA, Calif.-Cory Booker, the mayor of Newark, N.J. who has championed an urban transformation of that city, has been named as one of the speakers at CO-OP Financial Services THINK 13 conference, April 29-May 2 in Chicago. Booker will speak to "How to Change the World With Your Bare Hands." For info: www.co-opthink.org.
O'Neill Named To NASCUS Board
ARLINGTON, Va.-Mary Ellen O'Neill, director of the Financial Institutions Division of the Connecticut Department of Banking, has been appointed to the board of NASCUS. O'Neill is filling the unexpired term previously held by Mary Hughes, Financial Institutions Bureau Chief, Idaho Department of Finance. O'Neill's term will end in September, 2015.
Generations Hosts Japanese Group
SAN ANTONIO-Generations FCU hosted a delegation of researchers from the Tokyo-based Center for Financial Industry Information Systems, which seeks out FI best practices across the world, and provides recommendations on how those practices can be incorporated into the Japanese industry. The group toured a new GFCU branch that different technologies.
