CU Pitches In After Tornado
RIEGELWOOD, N.C.-While its hometown continues to recover from a devastating tornado last month, Riegelwood FCU's disaster relief fund has raised more than $30,000 to help the town rebuild.
The storm killed eight people-including two credit union members-and injured many others. The credit union itself was a mile outside of the twister's path of destruction.
"So far, we've gotten $37,000 donated from people and businesses," said Riegelwood FCU Director of Marketing Elaine Williams.
Empire, Power Merger Approved
SYRACUSE, N.Y.-The merger of Empire FCU and Power FCU has been approved by the NCUA, the FTC and 85% of the voting members of Empire FCU, creating a new credit union to be called Empower FCU.
John D. Wakefield, CEO of Power FCU and J. Raymond Curtin, CEO of Empire Federal Credit Union, will act as co-CEOs for the new financial institution, which will have 12 branches throughout Onondaga, Oswego, Oneida, Broome, and Erie counties, including a Syracuse headquarters.
Empire currently serves a membership of more than 48,000, employs 145 and has assets of over $295 million. Power serves a membership of more than 31,000, employs 110, and has assets over $299 million.
SBA Adds First Va. CU
RICHMOND, Va.-UVA Community Credit Union has become the first CU in the state to participate in the U.S. Small Business Administration's loan guaranty programs that help entrepreneurs gain access to commercial financing.
UVA Community Credit Union submitted its first SBA loan request seeking a guaranty on a $75,000 loan to assist a startup business in the area.
Growth Aids Children's Museum
SAN JOSE, Calif.-Each time Tech CU signs a member at its Dublin branch the Valley Children's Museum will benefit. To celebrate opening of the branch, the credit union will donate $10 for the museum for every new account or membership opened between Dec. 1 and Jan. 31. The goal is to raise at least $2,000 for the museum.
