Dames Comes Out Of Retirement For SWBC
SAN ANTONIO-Gordon Dames, who just retired as president of Mountain America Credit Union in Utah, has been named senior VP-national account development by SWBC. The company said Dames will be responsible for helping credit unions improve their revenue and efficiencies utilizing various products, services, and strategies that he had employed during his tenure as a credit union CEO. Prior to his tenure at MACU, Dames was CEO of San Diego County Credit Union for eight years and prior to that an NCUA examiner for 12 years.
Federation Reports Record Year For Capital
NEW YORK-Despite a tough economy, the National Federation of Community Development Credit Unions reported a record year for raising and renewing capital during 2008. The Federation said its Community Development Investment Program closed the year with more than $46.2 million in assets under management (including commitments) and a 24% growth in its investment portfolios, now totaling over $36.2 million in investments outstanding and committed to CDCUs.
For info: www.natfed.org.
Ticonderoga FCU Is Giving It All Away
TICONDEROGA, N.Y.-Ticonderoga FCU has an unusual bottom line for 2008-as in zero net income and zero losses. That's because the $68-million credit union gave all of its net income back to members as a bonus dividend - more than $300,000. This year's bonus was based on dividends paid on all share, or savings accounts during 2008. The minimum bonus $5 and the maximum was $750, and it was deposited into eligible members' accounts last week.
CUNA Mutual Joins Invest In America Program
MADISON, Wis.-CUNA Mutual has joined with the "Invest in America" program that has partnered with General Motors and Chrysler to make as much as $80-billion in loans available for vehicle purchases. In return, the automakers are offering discounts.
For its part, CUNA Mutual is offering free online auto loan applications (for credit unions) through its loanliner.com; discounts on quick, automated decisions on loan applications, and up to a 25% discount for participation in CUNA Mutual's target marketing program that identifies creditworthy members who may be in the market for a new vehicle based on the life of their existing auto loan.
