CU Changes Name To Liberty Bay
BOSTON–The $529-million Telephone Workers’ Credit Union here has changed its name to Liberty Bay Credit Union. Community chartered since late 2005, CEO Kenneth Dyer said the move reflects its more diverse membership beyond the core of telephone workers. With the name change, Liberty Bay is relocating two of its offices, one in Boston the other in Braintree, Mass. The former TWCU is one of the oldest CUs in the country having been founded in 1917.
Young Artists To Hang Show In CU
ALEXANDRIA, Va.–Heart of Louisiana FCU has a new idea to energize young members: it is inviting members between the ages of 3 and 12 to help redesign their lobbies. The young members are invited to join credit union officials at the branch to design custom artwork for all of their branches. Lunch and art supplies will be supplied. There will be face painting, popcorn and snow cones as well as prizes and games. All artwork will be hung in one of the CU’s branches.
Homes In Foreclosure Pass 1M
NEW YORK–The number of homes in foreclosure in the U.S. has passed the one-million mark for the first time in history–and the number is expected to go higher. The Mortgage Bankers Association’s reported that 2.5% of mortgage loans being serviced were in foreclosure during the first quarter of this year, representing approximately 1.1 million homes. That’s up from 2% at year-end. Separately, the MBA said that nearly three-million home loans (6.4%) have missed at least one payment, and another 737,000 are at least three months past due but not yet in foreclosure.
Mid-Atlantic FCU Wins Award
GERMANTOWN, Md.–Mid-Atlantic FCU here was selected as a Workplace Excellence Award Winner by the Alliance for Workplace Excellence. It is the second year MAFCU has won the award, which requires nominees to complete a comprehensive and rigorous assessment that is reviewed by a panel of experts. Winners had to demonstrate exemplary commitment to supportive corporate culture and management practices; family and employee friendly practices, and more.
Conn. Passes Emergency Bill
WALLINGFORD, Conn.–A bill that would allow Connecticut’s credit unions to open temporary offices in state facilities during an emergency has been signed into law, effective Oct. 1. The state is defining an emergency as conditions that arise from enemy action, riot or extreme weather conditions.(c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com http://www.sourcemedia.com
