NCUA Plans June Town Hall Webinar
ALEXANDRIA, Va.-NCUA Chairman Debbie Matz said she will host a national Town Hall webinar Monday, June 28, from 3-4:30 p.m. (EDT) during which current issues will be discussed. Matz will also take questions.
More Than $135K Is Raised
VANCOUVER, Wash., and ONTARIO, Calif. -The 2010 Oregon and Washington Credit Unions for Kids Wine Auction raised more than $135,000 at the event, which raises money for 170 Children's Miracle Network hospitals. The NW Wine Auction has now raised more than $1 million. The event is co-sponsored by Financial Service Centers Cooperative and CO-OP Financial Services, along with Southwest Corporate, Columbia CU, CUNA Mutual, BECU, OnPoint Community CU and Allied Solutions.
PFCU Is Independent Again
CUDAHY, Wis.-Prime Financial CU has resumed independent operations with a new board and an improved balance sheet, following a year under the control of the Wisconsin Office of Credit Unions. Christine Dawe, who was appointed by the state as interim CEO of Prime Financial last year, will continue to lead PFCU as it returns to normal operations. The $144-million CU has 32,000 members.
UTFCU Helping Flood Victims
KNOXVILLE, Tenn.- UTFCU has partnered with the American Red Cross and the Salvation Army to help provide relief to victims of the recent floods that swept through Middle and Western Tennessee. The flood damaged the home of one UTFCU employee, and numerous members. UTFCU has placed collection bins at its offices for tangible items, and created account for donations.
Remittance Lessons Are Shared
MADISON, Wis.-The World Council of Credit Unions (WOCCU) has published a 32-page report, "Reaching the Hispanic Market through Remittances," that draws on lessons learned through its International Remittances Network and Credit Union Remittances Outreach Program. The report offers best practices and is based partly on a program sponsored in conjunction with theIowa Credit Union League (ICUL) and Coopera Consulting, and three Iowa CUs that participated in the pilot CUROP program. For info: www.woccu.org/publications/researchpub.
Three More Mergers Take Place
WAUSAU, Wis.-Several CUs have announced mergers. The $3-million Wausau City Employees CU is being absorbed by the $312-million Connexus Credit Union. The $1.8-million IFA Employees FCU, Salt Lake City, is merging into the $2.8-billion Mountain America Credit Union. In Saginaw, Mich., Generations Family FCU is absorbing Saginaw Veterans Administration Hospital FCU. And in Bettendorf, Iowa, Ascentra CU has completed its merger with Members Choice Community CU in Clinton, to create one of the largest credit unions in the state, with $245 million in assets.
Auto Dealer's CU Ties Disputed
AUGUSTA, Maine-State regulators are investigating a Portland auto dealer that ran an advertising insert in the Portland Press Herald by Yankee Ford that was boldly headlined, "ATTENTION ALL CREDIT UNION MEMBERS," and listed 12 credit unions implying they were offering 0% car loans. But none of the credit unions had approved the use of their names or inclusion in the ad, according to the Maine CU League, which is investigating the incident, along with the Maine Bureau of Financial Institutions. A lawyer for the league sent a letter to the dealer asserting unfair and deceptive trade practices, noting that several credit unions received calls inquiring about the 0% loans. The state regulator has also contacted the dealer.
Swartzentruber Is Recognized
BOISE, Idaho--Brad Swartzentruber, president/CEO of Northwest Christian Credit Union, has been named the 2009 Outstanding Credit Union Professional of the Year by the Idaho Credit Union league. Swartzentruber was recognized for a 19-year career, "unwavering integrity," and the near doubling of assets during the 11 years he's been CEO. He is also active in his local community.
NCUA Issues Prohibition Orders
ALEXANDRIA, Va.-NCUA has issued prohibition orders against:
* Mia Frances Chaney, a former employee of Magnolia FCU, Jackson, Miss., who was convicted of bank fraud and sentenced to 12 months and a day imprisonment, three years supervised release, and ordered to pay $46,063 in restitution.
* Jolene Constantine, a former employee of Peoples 1st Choice FCU, Glen Rock, N.J., without admitting or denying fault, signed an order of prohibition to avoid the time and cost of administrative litigation.
* Tammy Law, a former employee of Pioneer Credit Union, Mountain Home, Idaho, who was convicted of embezzlement and sentenced to 46 months imprisonment, three years supervised release and ordered to pay $564,215 in restitution.