Corporate One Clarifies Position On Funding
COLUMBUS, Ohio-Corporate One FCU President said his corporate supports the intent of two NCUA proposals that seek to stimulate liquidity within the credit union system and help credit union members who are in danger of losing their homes through default or foreclosure, but Corporate One does not plan to ask for any funds because it has a strong liquidity position. In a letter to member credit unions, Butke said, "Fortunately, Corporate One continues to have ample liquidity to serve our members, and at this time will not be asking the NCUA to place CU (System Investment Program) or CU (Homeowners Affordability Relief Program) funds with us." Butke said Corporate One has $2.4 billion in liquidity sources, with $2.1 billion of it untapped.
Bank Losses Lead FDIC To Raise Rates
WASHINGTON-The FDIC last week raised its rates on deposit insurance as a result of the rash of failures. Effective in the first quarter of 2009, the increase in the risk-based assessment rates will be seven basis points on an annual basis. The FDIC currently charges banks between five and 43 basis points of their domestic deposits for coverage; that rate will now move to between 12 and 50 BPs on an annualized basis.
MECU, Scotland's CCU In Partnership
BALTIMORE-Maryland Employees CU (MECU) here and Capital Credit Union of Edinburgh, Scotland, signed a partnership agreement to work together. Represen-tatives of the CUs, both of which serve municipal workers, have met with each other in the past. The two CUs say the goal is to hare ideas and initiatives; identify mutual ways for each credit union to grow and better serve their members; enhance the knowledge base of boards and staff, and international brotherhood among credit unions.
Dora Maxwell Winners Are Announced
MADISON, Wis.-The 2008 winners of CUNA's Dora Maxwell Award winners are: Great Horizons FCU in Hammond, Ind.; Kekaha FCU in Kekaha, Hawaii; Evansville FCU in Evansville, Ind.; Education First CU in Southgate, Mich.; Class Act FCU in Louisville, Ky.; Rogue FCU in Medford, Ore.; Chartway FCU in Virginia Beach, Va.; and Flatirons Chapter of Colorado.
Winners of this year's Louise Herring Award are: Affinity First FCU in Minot, N.D.; Jersey Shore FCU in Northfield, N.J. and Credit Union 1 in Anchorage, Alaska.
