CUNA Raises Concerns On Corp Plan
WASHINGTON-CUNA has raised a number of concerns with NCUA and its corporate proposals in a letter to the agency. While generally supportive of NCUA's plan, CUNA suggested that the capital plan requirements addressed in the proposed corporate CU chartering guidance should provide greater flexibility to newly chartered corporates. CUNA also asked the agency "to clarify how a new corporate would be able to meet the specific requirement to maintain capital of at least 4% of its moving daily average net assets under the new corporate rule, 'beginning on the date the board issues the charter.'"
National Maxwell Winners Are Named
MADISON, Wis.-CUNA has recognized national winners of the Dora Maxwell Award: La Crosse Area Postal CU in La Crosse, Wis.; Mission SF FCU in San Francisco; Greater Pittsburgh Police; Grossmont Schools FCU in El Cajon, Calif.; Cross Valley FCU in Wilkes-Barre, Penn.; Erie FCU in Erie, Penn.; Directions CU in Sylvania, Ohio, and Austin Chapter of CUs, Texas. National winners of the Louise Herring Award are: Superior CU in Collegeville, Penn.; Central Macomb Community CU in Clinton Township, Mich., and State ECU in Raleigh, N.C.
Illinois League Recognizes CUs
NAPERVILLE, Ill.-The Illinois CU League has presented Desjardins Youth Financial Education Awards to NuMark CU, Argonne CU, Financial Plus CU, Community Trust CU, Great Lakes CU, and Scott CU. Dora Maxwell Awards went to Cornerstone CU, Streator Onized CU, Financial Plus CU, NuMark CU, GCS FCU, Great Lakes CU and Scott CU. The Louise Herring Award went to Scott CU.
CMN Fundraiser Now Underway
SALT LAKE CITY-Credit Unions for Kids has launched a fundraising campaign benefiting Children's Miracle Network hospitals that provides CUs with a variety of seasonal paper icons that can be purchased by members for as little as $1. In addition, holiday campaign kits-including the icons, campaign info, donation reporting form, and pre-addressed envelope to submit donation-can be ordered now through Dec. 1, 2010 at no cost.For info: www.cufkholidayicon.org.
Webinar On Political Changes
BIRMINGHAM, Ala.-Dollar & Associates will host a webinar offering analysis of what last week's elections will mean to credit unions, the economy, the legislative and regulatory agenda and more, on Nov. 16 from 3 p.m. to 4:15 p.m. Cost is $195. For info: www.dollarassociates.com.
One CU Gets Rid of 'Employees'
WEST LAFAYETTE, Ind.-Purdue Employees FCU is dropping the "Employees" from its name to avoid any confusion on membership eligibility, as it acquires $6-million Members United FCU of nearby LaPorte, Ind. As the $620-million CI expands into the new market, it will also change its logo.
Collins Named CEO At O Bee
TUMWATER, Wash.-James Collins has been named president/CEO of O Bee Credit Union, effective Dec. 31, Bruce Cramer, who has held the position for the past 24 years. Collins has been with O Bee for eight years.
Blake Named Director of Year
MADISON, Wis.-CUES has named Ertis Blake, president of C&WJ (Communications & other Workers of Jamaica) Co-operative Credit Union as its 2010 CUES Director of the Year. Blake will be honored during the CUES Directors Conference, Dec. 5-8 in Phoenix. Blake, who is the first CUES Director of the Year from outside the US., has overseen transformation of C&WJ CU from an employee-based to a community-based CU, and seen assets increase over an eight-year period to $36 million from $14.4 million.
NCUF, NCB In Partnership
MADISON, Wis.-The National CU Foundation has partnered with the National Cooperative Bank to offer a new two-year certificate as part of its Community Investment Fund. The investment is similar to the certificates already available through the CIF, and contribution levels to NCUF and state CU foundations (SCUFs) can be 50%, 75%, and 100% of the interest earned on the account.
WOCCU Expanding Into Tanzania
MADISON, Wis.-The Bank of Tanzania's has asked the World Council of Credit Unions (WOCCU) to begin developing and implementing a regulatory framework for the country's savings and credit cooperative societies, or credit unions. WOCCU's program will involve training regulators from the Cooperative Development Department (CDD) of the Ministry of Agriculture, Food Security and Cooperatives on risk-based supervision and regulatory systems and policies, as well as effective operational and financial standards for SACCOS.
For info: www.woccu.org.
More Mergers Are Planned
HOUSTON-First Service CU and Right Choice CU here said they plan to merge, creating a $304-million CU serving 51,000 members. David Blezard, CEO of the $120-million Right Choice, would be CEO of the merged institution, which will operate under the First Service brand. Meanwhile, in Syracuse, N.Y., the$900-million Empower FCU will absorb the $10-million Providers FCU, also Syracuse, effective Jan. 1.