FDIC Charges 5BP Premium; More To Come
WASHINGTON-After approving a five-basis point premium-based on assets for insured banks, the FDIC adopted a rule to give itself flexibility to charge another special assessment in the third and fourth quarters and said at least one further special assessment is "probable." Even with the special assessment, the Deposit Insurance Fund is likely to be close to zero by year-end necessitating another premium levy, the FDIC said.
New Nat'l Member Study Offers Insights
MADISON, Wis.-When asked what they would like to see from their credit unions, 45% of members said higher savings rates, 27% said lower loan rates, and 22% said more ATMs, according to the 2009-10 National Member Survey from CUNA. For info: advice.cuna.org
SAFE CU To Absorb ARH FCU Via Merger
SACRAMENTO, Calif.-The $1.5-billion SAFE CU is absorbing via merger the $230-million ailing American River Healthpro FCU, which reported a $5-million loss for 2008 and a $7.5-million loss for the first three months of 2009. SAFE, which lost $21.7 million in 2008, bounced back in the first quarter with a $946,090 operating net (excluding charges for the corporate bailout or its investment in WesCorp FCU).
Trio Of CU Reps Recognized By The Hill
WASHINGTON-Three CU representatives were named as top lobbyists by The Hill, a Capitol Hill political publication. Recognized were CUNA CEO Dan Mica, along with NAFCU's SVP-Government Affairs Dan Berger and Director of Legislative Affairs Brad Thaler. The Hill said those on its list are "good at finding consensus among their members and then communicating their message on Capitol Hill.
OpSS Council Seeking BP Nominations
MADISON, Wis.-Nominations are being sought for the CUNA Operations, Sales and Service (OpSS) Council's Best Practices Awards, recognizing innovative solutions that optimize credit union performance. A winner will be chosen without regard to asset size in each of the following four categories: Sales and service management; Branch design; Call/contact center, and Operational efficiency and productivity. Deadline is July 30.
For info: www.cunaopsscouncil.org
Cards Raise Funds For Breast Cancer
MELBOURNE, Fla.-Space Coast CU has launched Pink Platinum Visa credit and Pink Visa debit cards that give members the option of donating to the Florida Breast Cancer Coalition Research Foundation. As part of the initiative, the $1.6-billion SCCU also donated $1,000 to FBCCRF. The card features SCCU's Scorecard Rewards program, and the CU estimates at least $2,000 will end up being donated to the foundation.
For info: www.sccu.com
