Worth Noting

Register now

NCUA Under Budget, On TV

ALEXANDRIA, Va.-NCUA reported that expenses were under budget by 8%, or $2 million, during the first two quarters of 2010. NCUA, which is projecting it will spend $198.9 million in 2010, said the savings will mean a reduction in operating fees assessed CUs in 2011.

Meanwhile, the agency's Office of Public and Congressional Affairs is preparing to roll out a major consumer education campaign to raise awareness of the federal share insurance program. The nationwide campaign is projected to cost $1.7 million and will launch in September and feature CNBC's personal finance expert Suze Orman. It will include TV ads.


Likens Honored By WCMS

CLAREMONT, Calif.-James. D. Likens, president of the Western CUNA Management School, was honored for his 35 years of leadership during the 2010 WCMS graduation ceremony at Pomona College. WCMS Board Vice Chairman and Travis CU CEO Patsy Van Ouwerkerk presented Dr. Likens with the special award, which commemorated the influence he has had on the thousands of students that have attended the school through the years.

Separately, RaAnn Wood, deputy commissioner of CUs for the California Department of Financial Institutions, was named as the 20th recipient of the James D. Likens Alumni Recognition Award, which is given to a graduate who has made significant achievements in credit unions since graduation.


Data Offers Insights Into Performance

WASHINGTON-Callahan & Associates' said data from its FirstLook program, in which approximately 40% of CUs participate, shows CUs posting a second quarterly decline in both delinquency (1.68%) and charge-offs (1.17%) for the first time since early 2006. FirstLook CUs reported that interest income declined as a percent of assets to just 4.61%, but there was good news in that operating expenses and interest expense as a percent of average assets each declined four basis points to 3.00% and 1.36%, respectively. CUs in the program also posted annualized ROA of 0.68%%.


Webcast On Preventing Failures

ARLINGTON, Va.-NAFCU will host a webcast on Aug. 19 titled "Steps to Preventing Credit Union Failure in the New Regulatory Landscape," from 2-3:30 p.m. EDT. It is open to members and nonmembers and will be led by Robert Rutkowski, a parner in Waltman, Weinberg & Reis Co.


Corporate Central Raises $50M In PIC

MUSKEGON, Wis.-Corporate Central CU reported last week its members have contributed more than $50 million in paid-in capital (PIC) since capital-building efforts began April 20. CCCU reported it is also projecting it will be at or above 1% in retained earnings by the September 2010 date NCUA has targeted for the new regulations.


There's An App For That Meeting

HARAHAN, La.-The Louisiana CU League has created a new convention application for smart phones for its convention and annual meeting that includes educational program updates, maps, speaker bios and more. Sponsored by CU Cooperative Branching, apps are available for Apple and Blackberry.


Arizona Victims Offered Loan Help

FLAGSTAFF, Ariz.-Arizona Central CU is offering a Disaster Relief Loan for members affected by recent wildfires and flooding the area. Loans up to $1,500 are available, with a 12-moth term and rates as low as 5.99% APR.


Massachusetts CU Pioneer Dies

BOSTON-Long-time credit union pioneer Al LaRiviere has died. Mr. LaRiviere, who was 93, had a 58-year career in credit unions beginning at Chapman Valve CU, serving in both professional and volunteer roles at both natural-person CUs and with the Credit Union League of Massachusetts.


Tom Davis To Step Down At NACUSO

LAS VEGAS-After 20 years of service on the board and nearly four years as CEO, Tom Davis said he will leave the National Association of CUSOs on Dec. 31 to become the CEO of CUSO Development Co. LLC. CDC is a CU-owned, national holding company that provides mortgage loan origination, business services and other solutions through subsidiaries. A search committee has been formed to find a replacement.


Bland Named CEO at The Golden 1

SACRAMENTO, Calif.-The $7-billion Golden 1 Credit Union has named Donna Bland as its new CEO. Ms. Bland has been with the Golden 16 years, most recently as SVP/CFO, and replaces Teresa Halleck, who is taking over as CEO of San Diego County CU.


DEs to Lead Year Of Co-Op Effort

MADISON, Wis.-The World Council of Credit Unions (WOCCU) board has adopted a resolution stating that Development Educators (DE) will act as a key role in helping to educate CUs about their roles as financial co-ops leading up to 2012. The United Nations has designated 2012 as the International Year of Cooperatives. The resolution also calls upon CUs to more actively cast themselves as financial cooperatives. The DE program is offered through the National CU Foundation.

For reprint and licensing requests for this article, click here.