Vantage West Chairman Honored
TUCSON, Ariz.-Dale Whittaker, Chairman of the Board for Vantage West Credit Union and a 56-year veteran of the credit union movement, was presented the "Gene Ball Award" at The National Association of Credit Union Chairmen (NACUC) Conference in Savannah, Georgia. This award is presented annually to an individual who has demonstrated outstanding commitment to the Credit Union Movement and the NACUC. Whittaker, who is also a 39-year military veteran, oversaw his board's conversion to an electronic board packet, a financial indicators spreadsheets and a number of other innovations at Vantage West.
Two CUs Get New CEOs
SEATTLE-School Employees CU of Washington announced the hiring of Scott Adkins, vice president of lending at Spokane Teachers CU, as president and CEO of the $950 million credit union.
Adkins will succeed Sandra Kurack, who is retiring after heading the credit union for the past 20 years.
At Credit Union 1, Anchorage, Alaska, Tom Newins has been tapped to succeed Leslie Ellis, who is stepping down as president and CEO of the $857 million CU at the end of the year.
Suit On Retirement Benefits Nixed
WILMINGTON, Del.-A federal court has ruled against the former CEO of Diamond State FCU who claims the successor to her credit union, Sussex County FCU, owes her more than $535,000 in retirement and health care benefits after it terminated her. In her suit, Paula Campbell claims that Sussex County FCU is responsible to abide by the terms of a retirement plan she had with the board of Diamond State, which she left in 2007 to go to work for Sussex County FCU. Sussex County FCU eventually acquired Diamond State FCU in a March 2009 merger, but terminated Campbell from her $66,611-a-year job six months later, in October 2009.
In asking for a summary judgment, Sussex said Campbell's Diamond State FCU retirement plan is unenforceable because it did not did not require her to work for any additional period of time, something she did not do. "Any promise set forth in the Campbell Plan was not enforceable because there was no bargain for her to perform in light of her admission that she was not required to work for any additional period of time and could have retired immediately after the Plan was adopted," argued the CU.
In addition, Sussex argued that it is not obligated to provide Campbell with health insurance because her termination makes her ineligible to enroll in the health insurance plan Sussex maintains for its employees.
The court granted the motion for summary judgment in favor of Sussex County FCU.
'Carry Larry In Your Wallet'
PHOENIX-Desert Schools FCU has teamed up with Arizona Cardinals Wide Receiver Larry Fitzgerald for a special edition debit card featuring Fitzgerald's likeness. This is the sixth year that the NFL star has signed on with Desert Schools to be part of its ongoing ad campaign that spotlights three professional sports teams: the Arizona Cardinals, Phoenix Suns and Phoenix Coyotes. In its current campaign, Desert Schools encourages members to "Carry Larry In Your Wallet."
NCUA Bans 2 From Industry
ALEXANDRIA, Va.-NCUA has banned two former credit union employees from working at any federally insured financial institution:
* Mary Jane Arroyo, a former employee of Monterey County Employees Credit Union in Salinas, Calif., pleaded no contest to the charge of embezzlement. Arroyo was sentenced to 90 days in prison, three years of probation, and ordered to pay restitution and court costs.
* Cynthia Mercer, a former employee of Hamlet Federal Credit Union in Hamlet, N.C., pleaded guilty to the charge of embezzlement. Mercer was sentenced to one year in prison, five years supervised release and ordered to pay $169,261.79 in restitution.
Connexus Acquires FILO
WAUSAU, Wis.-Connexus CU reported it has purchased Mukwonago, Wis.-based Financial Institution Lending Options, LLC, which was formed to provide financial institutions in Wisconsin the opportunity to purchase automobile loans.
FILO provides financial institutions auto loans through pool sales, participation pools or whole loan flow sales. Connexus said there are currently 22 CUs that participate in FILO's lending programs, and plans call for expanding FILO's reach into other states.
In the 12 years since its inception, FILO has reached well over $1 billion of auto loans, financed from their 400-plus dealer network.
