One-Third of CUs On 'Weakest List'
JUPITER, Fla.-Weiss Ratings, which rates the health of financial institutions, released analysis last week that placed 2,725 credit unions, or 34.3% of all U.S. CUs, on its, "Weakest List," while listing 760 (10.1%) on its "Strongest List." Weiss Ratings said its analysis is based on capitalization, asset quality, profitability and liquidity.
The largest credit unions on the Weiss Ratings Weakest List (receiving ratings of D+ or lower) are: Suncoast Schools FCU, Tampa; America First FCU, Riverdale, Utah; Kinecta FCU, Manhattan Beach, Calif.; Space Coast CU, Melbourne, Fla.; Desert Schools FCU, Phoenix; Mountain America CU, West Jordan, Utah, and Wescom Central, Pasadena. The strongest: Navy FCU, Vienna, Va.; Alliant CU, Chicago; Star One CU, Sunnyvale, Calif.; San Diego County CU, San Diego; CEFCU, Peoria, Ill., and Randolph Brooks FCU, Live Oak, Texas.
Kelly Named New CEO At PSCU
ST. PETERSBURG, Fla.--PSCU Financial Services has named Michael J. Kelly as its new president/CEO. Kelly was previously the general manager of Payments Network for Fiserv, Inc. in Morris Plains, N.J.
PSCU-FS is owned by 680 member credit unions.
Corporate Central Posts Robust Stats
MUSKEGO, Wis.--Corporate Central Credit Union reported it has achieved the "well capitalized" mark across all capital measures of the new NCUA corporate credit union regulations. Its Tier 1 (Core) Capital ratio stands at 5.10%; its Tier 1 (Core) Risk Based Capital ratio is 30.87%, well above the 6% well-capitalized mark; its Total Risk Based Capital ratio is at 61.37%, well-above the 10% measure; its Total Capital ratio stands at 10.13%, and its Retained Earnings ratio stands at 1.30%. In addition, it has a base-case NEV ratio of 11.25%, well above the minimum NEV ratio requirement of 2%.
Westerra, Soccer Team In Partnership
COMMERCE CITY, Colo.-Westerra Credit Union has signed on as a "presenting sponsor" for the Major League Soccer Cup Champion Colorado Rapids. The partnership marks the first of its kind in club history, and features a new "composite" logo that incorporates both the Rapids and Westerra Credit Union brands that will appear in all marketing and promotional campaigns the Rapids execute during the 2011 season.
Young Leaders Board Created
RANCHO CUCAMONGA, Calif.-Credit Unions for Kids has created a Young Leaders for Kids Advisory Board it said is "to help credit unions expand participation in fundraising events and develop strategies to better engage the next generation of credit union leadership." New members include: Jaime Crooks, Ohio HealthCare FCU; Brent Dixon, Filene/Crash Network; Brooke Gilchrist, Enterprise Car Sales; Tina Hall, Verity CU; Ronaldo Hardy, La Capitol FCU; Theresa Hilinski, Filene/Crash Network; Jennifer Johnson, CO-OP Financial Services; Jill Nowacki, MaPS CU; Samantha Paxson, CO-OP Financial Services; Jessica Perschon-Rhodes, Washington State ECU; Lisa Stokman, iQ CU.
New Executives Announced At 2 CUs
COLORADO SPRINGS, Colo.-The $3.1-billion Ent FCU has named Randy Bernstein as its new president. Charles Emmer remains as CEO. Bernstein was previously EVP/COO and has been with Ent for the past 14 years and in credit unions for the past 34 years. Meanwhile, in Cincinnati, New Horizons CU has named Gary Hesse as its new president, succeeding LeRoy Wilder, who is retiring. Hesse had previously served as CFO/director of information technology for Cintel FCU, Cincinnati.
NCUF Collecting Financial Ed Data
MADISON, Wis.-The National Credit Union Foundation said it is now collecting data for its 2011 Credit Union Member Education Inventory. The data will "enable the credit union movement to demonstrate the power of financial education and counseling on the lives of members and communities across the country," NCUF said. The data will be provided to state leagues for advocacy efforts. In addition, CU best practices will be published in conjunction with the report.
The NCUF said that roughly 700 CU CEOs/presidents will receive an e-mail from Lois Kitsch in the coming weeks requesting their participation in the Inventory, but it is open to all CUs at https://vovici.com/wsb.dll/s/f49dg49018.
Bright Horizon Awards Sponsored
NORTHGLENN, Colo.-Horizons North CU is again sponsoring the Bright Horizons Award program to recognize achievement of goals and milestones in their local school district in the 2010/11 school year. Elementary Schools in Adam 12 Five Star School District are eligible for the award, which will recognize everything from increases in test scores to individual accomplishments by a teacher or student.