Michigan Community Credit Union to Provide Down Payment Assistance
JACKSON, Mich. — Michigan Community Credit Union can now act as a conduit for members to the Federal Home Loan Bank of Indianapolis's Homeownership Opportunities Program.
HOP helps first-time homebuyers at or below 80% of area median income with a down payment and closing costs and improves their eligibility for mortgage financing.
"These funds will enable more members of the credit union and community to purchase homes, which will help to improve our local economy," said Beth Ploof, mortgage originator at Michigan Community CU.
Michigan Community CU is a full-service financial institution, serving people who live, work, worship or attend school in 16 counties in Southern Michigan. The CU has nearly 16,000 members across Southern Michigan with more than $120 million in assets.
The Federal Home Loan Bank of Indianapolis is a wholesale bank that provides grants and business services to member financial institutions in Indiana and Michigan.
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Minnesota CU Foundation offers $7,500 in financial education grants
ST. PAUL, Minn. — The Minnesota Credit Union Foundation is offering $7,500 in grants this fall to assist Minnesota CUs in implementing financial education projects.
Non-CU organizations may also apply for grant funding but must partner with a Minnesota CU and demonstrate how the project will affect CUs and their members.
Applications will be accepted, through Oct. 1. Grants will be evaluated by the Minnesota CU Foundation board, and recipients will be announced by mid-October.
"I am excited to see fresh, new ideas of how Minnesota credit unions can serve our communities by providing much-needed financial education," said chairman Dave Larson.
The Minnesota CU Foundation introduced its first Financial Education Grant Program last year.
The Minnesota CU Foundation is a non-profit organization founded in 1969 to serve as a charitable arm of the Minnesota CU movement.
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Carter Federal CU Chief Gibson to retire; Arnold to take the helm
SPRINGFIELD, La. — Carter Federal Credit Union president and chief executive James P. Gibson will retire effective Aug. 31, after more than 40 years in the industry.
The board has appointed Joe Arnold, executive vice president and a Carter employee since 2009, to succeed Gibson.
Arnold has more than 15 years of CU industry experience.
Gibson had been at the helm since 2005. Under his leadership, Carter more than doubled its asset size to more than $240 million.
"My time at Carter Federal has truly been a great experience and eventful," Gibson said.
Arnold described Gibson as a dynamic executive who has relentlessly pursued opportunities to improve the CU.
"I've been fortunate to learn from him. His progressive attitude is the reason I joined Carter," Arnold said in the statement.
Carter serves more than 31,000 members through its eight retail branches and contact center with locations throughout Northwest Louisiana and Southern Arkansas.
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Seminole State College of Florida Names CFE FCU Preferred Credit Union
SANFORD, Fla.--Seminole State College of Florida has named CFE Federal Credit Union its preferred CU.
"We recognize the valuable service Seminole State College provides to our community as an innovative educational institution working to prepare students for the global marketplace," Joseph A. Melbourne Jr., president and chief executive of CFE, said in a statement.
As part of the agreement, which the Seminole State College District Board of Trustees approved unanimously on Monday, CFE of Lake Mary, Fla., will develop on-campus financial literacy programs and customized financial products for faculty, staff, and students.
Additionally, CFE's annual contribution will be used to support various college initiatives.
CFE, which has 139,000 members and nearly $1.5 billion in total assets, was founded in 1937 by 23 educators.
Membership is open to anyone who lives, works, attends school, volunteers, or worships in Lake, Orange, Osceola and Seminole counties. Qualified businesses and other legal entities may also join.
