NCUA Changes Board Meeting Date...
ALEXANDRIA, Va.-The December closed meeting of the NCUA Board has been rescheduled from Dec, 16 to Dec, 17 at 9 a.m. A revised agenda is available: www.ncua.gov/GenInfo/BoardandAction/Calendars/Meetings/2010.aspx. The NCUA Board will meet in open session Thursday, Dec. 16th at 10 a.m.
...Extends Corporate Proposal Comment
ALEXANDRIA, Va.-NCUA has extended the comment period to Jan. 28, 2011, on the proposed corporate rule amendments issued at the Nov. 18th NCUA Board meeting. The proposed amendments would require corporates to establish new internal control reporting requirements, form an enterprise-wide risk management committee staffed with an independent risk management expert, conduct all board of director votes as recorded votes, and disclose CUSO compensation received by certain employees who are dual employees of corporates and corporate CUSOs.among other things.
Two CUs Name New CEOs
RIDLEY PARK, Penn.-Boeing Helicopters Credit Union has named Philip Travaglini as its new CEO. A 30-year veteran of financial services, Travaglini was previously CEO OF Sentry FCU in Brookhaven, Penn., and prior to that was CFO with Keystone Bank. In Boulder, Colo, Premier Members FCU has named Carlos Pacheco as CEO. Pacheco was most recently EVP with Desert Schools FCU.
NAFCU Board Meets With Fed
WASHINGTON-NAFCU's board last week met with the Federal Reserve to discuss CU issues and present the findings of its 2010 Report on Credit Unions. The meeting was hosted by Federal Reserve Governor Elizabeth Duke. The NAFCU report focused on four key areas: CU financial conditions, regulatory issues, CU service to members and use of Fed services;, and FCU service to low and moderate-income people. Details of the report can be found at: www.nafcu.org/2010ReportOnCreditUnions.
Crashers Meet In Rochester
ALBANY, N.Y.-Twenty-three young CU professionals, representing 10 credit unions, including five members of the Credit Union Association of New York's Young Professional Commission (YPC), gathered recently at Lovin' Cup coffee in Henrietta, N.Y., for the third Crash meet-up in the state. The meeting was part of the larger, national "Crash" effort in which young CU professionals meet with each other for networking and dialogue.
VT Survey Probes Board Policies
SOUTH BURLINGTON, Vt.-A survey conducted by the Association of Vermont Credit Union has found that most credit unions in the state have an aging director population, no term limits on boards, and few CUs have a formal description of expectations or qualifications of their volunteers. Among the findings in the AVCU survey: 50%of the state's CU's have seven directors and one-third have nine; 83% reported no term limits; others are limited to two or three terms; About half of CU directors are in their 40s, one-third are in their 60s; 84% have no job board member description other than specified in the bylaws; 83% of nominating committees receive no particular direction.
Planning For Year of Cooperatives
MADISON, Wis.-Even though 2011 has yet to arrive, the World Council of Credit Unions (WOCCU) has started to lay the groundwork to make sure credit unions play a highly visible role in the United Nations' International Year of Cooperatives (IYC) in 2012.
The year-long designation will commence following a kick-off event at the end of October 2011, at the U.N.'s New York City headquarters. The 2012 theme is "Co-operative enterprises build a better world." Organizers are preparing to name a full-time New York-based U.N. secretariat responsible for managing the development and promotion of IYC activities.
Council Forum Honors Leaders
MADISON, Wis.-The Council Forum, made up of representatives of the CUNA Councils, has recognized outgoing chair, Nader Moghaddam, president & CEO of Financial Partners FCU, for his leadership of the Forum during the past two years. Erin Mendez, EVP & COO of SchoolsFirst FCU, has now taken over as the new chair of the Council Forum, and Rudy Pereira, SVP Operations and Technology at Alliant CU, takes over as vice chair.
3 CUs Recognized For Outreach
SAN FRANCISCO-Two long-time community development credit unions (CDCUs) were among the recipients of Community Outreach Awards from the California and Nevada Credit Union Leagues at its recent annual meeting.
Urla Abrigo, CEO of Episcopal Community FCU in Los Angeles was the recipient in the individual category, while Mission SF FCU in San Francisco won in the under $100-million-assets category, and Travis Credit Union in Vacaville, Calif. won in the over $100- million-assets category.
Registration Open For CDCU Meeting
NEW YORK-Early bird registration has opened for the National Federation of Community Development Credit Unions' 37th Annual Conference on Serving the Underserved June 15-18 in Hollywood, Calif.
NAFCU Adds 2011 Fee Calcuator
ARLINGTON, Va.-NAFCU has created and posted an online 2011 Operating Fee Calculator that FCYs can use to estimate the fees they are required to pay the NCUA by April 15 to fund next year's NCUA operating budget. The calculator can be accessed at www.nafcu.org/2011OpFeeCalculator.