CU*Answers Pays $1.2M Dividend
GRAND RAPIDS, Mich.-CU*Answers, a CUSO provided core data processing services and other solutions, is paying its CU-owners at $1.2-million Patronage Dividend. The return is over a 71% increase from last year's Patronage Dividend of $700,000. CU*Answers presently has 91 stockholders, including nine new CUs in 2010.
CU Protection Webinars Scheduled
MADISON, Wis.-CUNA Mutual Group has released the schedule for its 2011 Credit Union Protection Webinar Series to help reduce risk exposures for CUs. The free seminar topics and schedule are: ATM Fraud: A Growing Threat, Feb. 16; Survive the Unthinkable: Disaster preparedness and response are key, April 13; Employees Gone Bad: Preventing losses from employee dishonesty, May 18; Risk Management Open Mic (a Q&A), July (date to be determined); ACH Fraud Hits a Nerve: Transactional procedures can minimize risk, Aug. 17; What You Need to Know About Employment Practices Liability: How to spot issues, eliminate hurdles and reduce risk, Oct. 5; and The Many Faces of Fraud: A look back and ahead (Nov. 16).
For info: www.cunamutual.com/CUProtectionWebinars.
Member Surprised With $25K
DALLAS-When the Rev. Marl Walz, a 62-year-old pastor at the Unitarian Universalist Church of Oak Cliff, Texas, answered his front door, Chet Kimmel, CEO of Neighborhood CU, was there to present him with a $25,000 check. The check represented the winnings from the $250-million CU's annual Prize Savings Account, in which members are entered monthly. Walz said he will use the funds to help his son pay for his honeymoon. Neighborhood CU members receive one drawing entry for every $25 monthly average balance in their Prize Savings Accounts. Each quarter, the CU also awards a plasma TV and $1,000 in cash.
Certificates Available To Volunteers
ARLINGTON, Va.--NAFCU said it will issue a certificate to CU volunteers who complete its training designed to help directors meet NCUA's new financial literacy requirements. NAFCU has recently added a new financial literacy module to its Online Training for Volunteers & New Staff.
For info: www.nafcu.org.
Novel Dramatizes Early CU Days
MADISON, Wis -A new novel has been published to dramatize the early days of the U.S. CU movement. "The Credit Union Lady," has been published by Paul Thompson, a former CUNA employee. The novel, available at Lulu.com or Amazon.com., covers four decades in the life of a family involved in credit union work in the fictional Wisconsin town of Brighton Falls.
CFPB's Warren To Speak At GAC
WASHINGTON--Consumer Financial Protection Bureau architect Elizabeth Warren has been added as a speaker to Governmental Affairs Conference Feb. 27 until March 3 at the Washington Convention Center.
Stumpf Named CEO At Blackhawk
JANESVILLE, Wis.--Sherri Stumpf has been named president/CEO at the $322-million Blackhawk Community Credit Union here. Stumpf most recently was COO at TruStone Financial FCU, Minneapolis.
More CUs Announce Bonus Dividends
WILLIAMSVILLE, N.Y.--Western Division FCU has paid a Patronage Dividend of more than $750,000 to members. Each member who paid interest or received dividends in a sufficient amount to warrant a Patronage Dividend received 12% of interest paid on loans and 50% of dividends received on savings during the year. In Schaumburg, Ill.,Motorola Employees has paid a $1 million special patronage dividend to its members. Most of the MECU's 39,000 members received the special dividend and, on average, were paid $31. The top 10% of active members-those who made the greatest use of the credit union's services-received an average of $158, MECU said. In Ogden, Utah,GoldenWest CU paid $600,000 to members in a bonus dividend.
Comala CU, Gaurdian CU In Merger
MONTGOMERY, Ala.-Comala Credit Union has been absorbed via merger by Guardian Credit Union, creating a $202-million CU serving 28,277 members.
Bonnot To Head Mo. DFI
JEFFERSON CITY, Mo.-Ken Bonnot has been named by Gov. Jay Nixon as director of the Missouri Division of CUs on Jan. 4. Bonnot is a 15-year veteran of the agency.
Greylock Donates $100K To Center
WILLIAMSTOWN, Mass.-Greylock FCU and subsidieary Greylock Insurance Agency presented the Williamstown Youth Center with two grants totaling $100,000, which will be used to support the development of the new WYC facility planned for construction this year. GFCU has pledged $75,000 and Greylock Insurance Agency has pledged $25,000, each to be paid over five years.