Mortgage Registration System Open
WASHINGTON-Federal agencies for banks, thrifts and credit unions, along with the Farm Credit Administration, announced last week that the Nationwide Mortgage Licensing System and Registry has begun accepting registrations. Under the recently enacted Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act), residential mortgage loan originators employed by banks, thrifts CUs and the Farm Credit System must register with the registry, obtain a unique identifier from the registry, and maintain their registrations. Deadline for registration is July 29.
For info: www.ncua.gov
Amazing Savers' Being Sought
SANTA ROSA, Calif.-Redwood Credit Union has launched a new "Amazing Savers Contest" in which five contestants will work to transform their finances as they compete for $10,000. The contestants selected to participate in the Amazing Savers Contest will meet regularly with a personal financial coach from RCU who will help them create budgets, reduce debt, and transform their finances.
For info: www.rcuamazingsavers.org.
Speaker of House Speaker At GAC
WASHINGTON-CUNA said that Speaker of the House John Boehner will address its Governmental Affairs Conference (GAC) in Washington on March 2. For details on the conference, which runs Feb. 27-March 3 go to cuna.org.
Ohio CUs Outpace Nation
DUBLIN, Ohio-For a seventh consecutive quarter, Ohio credit unions recorded gains in membership, netting 34,547 members during the 12 months ended Sept. 30, 2010, according to the Ohio CU League. The 1.3% increase during the 12-month stretch was nearly triple the national average, the league noted. Other stats: share balances were up 6.2% over the same period, the average member relationship was up 2.1% to $11,346, total member business loans were up 15% to $383 million, and capital averaged 11.7%.
PEARLS Now Available Online
MADISON, Wis.-The World Council of Credit Unions (WOCCU) has released a web-based version of PEARLS, its relational financial database designed to monitor financial trends and help credit unions improve their performance.
The program, first developed in the 1980s, has been streamlined for easier access through a web-based version available as a benefit of membership to WOCCU member organizations.
PEARLS stands for Protection, Effective financial structure, Asset quality, Rates of return and costs, Liquidity and Signs of growth. A series of related webinars can also be found at www.woccu.org/bestpractices/pearls.
Prohibition Orders Are Issued
ALEXANDRIA, Va.-NCUA has issued prohibition orders against:
* Christopher Allen, a former employee of First Service CU, Houston, was convicted of bank fraud. Allen was sentenced to 32 months imprisonment, three years probation, and ordered to pay $31,303 in restitution.
* Keona Blagburn, a former employee of Newport News Neighborhood FCU, Newport News, Va., plead guilty to embezzlement and obtaining money under false pretenses.
* Arden Marie Rohrer, a former employee of Henrico FCU, Richmond, Va., was convicted of grand larceny. Rohrer's five years imprisonment was suspended on the condition she keep the peace and be on good behavior, and she was ordered to pay $1,500 in restitution.
* Kelly J. White, a former employee of Sussex County FCU, Seaford, Del., was convicted of theft and sentenced to two years of supervised release and ordered to pay $33,062 in restitution.
New Jersey CUL Rebating Dues
HIGHTSTOWN, N.J.-The New Jersey Credit Union League (NJCUL) is paying a one-time, 10% dues rebate for 2011.
The NJCUL said it was making the payment in recognition of the difficult economy. League members have the option of foregoing the dues rebate and pledging the funds to the league's statewide ad campaign.
CEO Named to Fed Panel
CHESTERFIELD, Mo.-Glenn D. Barks, president/CEO of First Community CU, has been named to the Community Depository Institutions Advisory Council of the Federal Reserve Bank of St. Louis, an advisory panel created by the Federal Reserve.
Combined Council Plans Meeting
INDIANAPOLIS-The Combined Council of Americas Credit Unions has announced its 30th annual meeting will be held in Savannah, Ga., Sept. 14-17.
For info: www.ccacu.com.