Federation Hosts Lending Confab
CHICAGO-The National Federation of Community Development Credit Unions hosted a two-day Affordable Mortgage Lending Seminar at Fannie Mae's headquarters here, bringing together some of the biggest mortgage industry players to encourage credit unions of all sizes to get into the mortgage business.
The seminar, which was presented in collaboration by the Federation's CDCU Institute and its CDCU Mortgage Center, was made possible by the generous support of Fannie Mae, the National Credit Union Foundation, Genworth Financial, ACUMA, Prime Alliance, CU Members Mortgage, CU Partners, and Shore Bank.
Topics included mortgage lending basics; mortgage fraud prevention; non-traditional mortgage lending and lending to new immigrants; the mortgage secondary market; private mortgage insurance; affordable housing options and programs; and the establishment of mortgage lending partnerships.
Two Long-Time Leaders To Retire
OKLAHOMA CITY-Two long-time CU CEOs, both with unique ties to their credit unions, have announced retirement plans. Marvin D. Cottom, who has served as WEOKIE CU's only CEO since it opened its doors in 1970, will retire April 20. Under Cottom's leadership, WEOKIE has grown to more than $517 million in assets and 54,000 members.
Cottom is a member of CUES' Hall of Fame and the treasurer and a charter director for the Oklahoma Credit Union Service Centers. He has also served on the board of the Oklahoma League and has been active in both CUNA and WOCCU. Brent Taylor, Executive Vice President at WEOKIE, has been tapped to succeed Cottom as CEO.
Meanwhile, in Nashville, Tenn., Betty Hobbs, CEO of The Tennessee Credit Union, has said she plans to retire on Dec. 26 after 40 years at the credit union. TTCU's first employee, Hobbs has seen growth from $1.8-million in assets to $220-million. During her career Hobbs was active with a number of credit union organizations, serving on the boards of the Filene Research Institute, Tennessee league, CUES and CUNA.
