NCUA Town Hall Set For July 18
ALEXANDRIA, Va.-NCUA Board Chair Debbie Matz will host a free town hall webinar open to all CUs on Thursday, July 18, at 3 p.m. EDT. The webinar will feature updates on a range of subjects, including: industry performance; NCUA's Regulatory Modernization Initiative and efforts to provide regulatory relief; proposed rule on derivatives; emerging risks; low-income CUs; emergency liquidity and the CLF, and guidance on credit ratings and risk management. Participants may submit advance questions at WebinarQuestions@ncua.gov. For info: www.ncua.gov.
NC CUs Press For Immigration Reform
RALEIGH, N.C.-Credit unions in attendance at the North Carolina CU League's Annual Meeting have approved a resolution calling on Congress to join with President Barack Obama to pass a comprehensive immigration reform law. The resolution, which was drafted and submitted by Self-Help Credit Union, was unanimously approved during the league's business meeting. The resolution details the impact immigrants have on the state's economy, including an impressive $22.9 billion in consumer purchasing power, and the more than $10 billion in receipts generated by and 63,000 jobs provided at North Carolina immigrant-owned businesses. In approving the measure, the delegates also called on credit unions and their national organizations to also voice support for immigration reform.
More Mergers In The Works
BREA, Calif.-The $28 million Lutheran CU is being absorbed via merger by America's Christian CU. In Anaheim, $16 million Firestone Financial Services CU is being absorbed via merger by Credit Union of Southern California. In Eugene, Ore., $33 million Greater Oregon FCU is merging into SELCO CU. In Wethersfield, Conn., $200 million Dutch Point CU is absorbing via merger $30 million Capitol Region FCU. And in Parchment, Mich., First Community FCU announced plans to combine with E&A CU in Port Huron to create Michigan's ninth billion-dollar credit union. Cheryl DeBoer, president of First Community, will become the president and CEO of the new entity, while Janice Rose, head of E&A, will take on the role of chief community relationship officer.
Also in California, state regulators are reviewing applications that merge three more credit unions out of existence. Provident CU, a $1.8 billion credit union in Redwood, has agreed to acquire Alameda CU, a one-time $43 million CU. Valley First CU, a $500 million Modesto credit union, is seeking to merge into $2 million State Employees #84 CU in Tracy. And Mendo Lake CU, a $135 million Ukiah credit union, has applied to acquire Fort Bragg Community FCU, a $32 million credit union.
WECU Now Under Pathways Umbrella
COLUMBUS, Ohio-The $26 million WECU Credit Union is the latest CU to merge into the $193 million Pathways Financial CU and will operate under merger model that Pathways has utilized in 2012, where each merging credit union continues to utilize the trade name associated with their former credit union.
Excellence In Lending Awards Open
MADISON, Wis.-Entries are being accepted for the 14th annual Excellence in Lending Awards, which recognizes outstanding lending results and practices. The Excellence in Lending Awards identify and share examples of lending excellence by recognizing individual CUs. The awards are sponsored by CUNA Mutual and the CUNA Lending Council. For info on the categories and how to enter: www.cunalendingcouncil.org/awards/excellencelending.html.
80,000 Copies Of Book Distributed
MADISON, Wis.-The National CU Foundation (NCUF) reported that over the past six months more than 80,000 copies of "Money Rules: The Simple Path to Lifelong Security" have been distributed to CU members and employees. Authored by Jean Chatzky, the book contains "smart, actionable, engaging rules that, if followed, will allow readers to enjoy a lifetime of financial security and eliminate their stress about money." Copies have been distributed free to both CUs and CU organizations. For info: www.ncuf.coop.
Ohio Catholic Expands FOM
CLEVELAND-NCUA has approved the expansion of Ohio Catholic FCU's charter to now include all Catholic Dioceses in the state of Ohio. The expansion covers more than 1.3 million parishioners, students and employees in Catholic churches in Columbus, Steubenville, Youngstown, Toledo and Cincinnati and is one of the biggest faith-based expansions ever granted.
Graham Named CEO of Year
BILOXI, Miss.-Lisa Graham, president/CEO of Gulf Coast Community FCU, Gulfport, Miss., has recently named "CEO of the Year" by the Mississippi CU Managers Association, a professional organization consisting of credit union leaders from throughout the state. The award recognizes an individual's organizational leadership abilities, staff development, and personal service to the credit union movement and the community their credit union serves.
