More NCUA Guaranteed Notes Sold
ALEXANDRIA, Va.-NCUA last week said it closed the NCUA Guaranteed Notes Trust 2011-R4 offering, yielding approximately $1.525 billion in proceeds from sales of the Trust's Senior Notes. The coupon on the Senior Notes was priced at 38 basis points over LIBOR. Collateral for the transaction consisted of previously issued residential mortgage-backed securities. The latest transaction brings the total number of NCUA Guaranteed Notes (NGN) offerings to ten, with five deals completed in 2010 and five deals finished to date in 2011. NCUA said it has now securitized approximately 85% of the legacy assets originally targeted for securitization in order to fund deposits assumed by the bridge corporates with proceeds now totaling approximately $23.97 billion.
Arnold Forms Consulting Firm
CARROLLTON, Texas-Long-time credit union exec Mark Arnold has formed a new consulting firm, On the Mark Strategies. Saying his mission is "to help mark credit unions for success" Arnold said he will focus on speaking, branding and planning. For the past 12 years, Arnold served as SVP for Neighborhood Credit Union in Dallas.
For info: 214.538.4147 or visit markarnold.com
CU, Consul of Mexico In Partnership
BATTLE CREEK, Mich.-United Educational CU and the Consul of Mexico in Detroit will hold a ceremony this week to mark a partnership in which UECU will help promote use of consular identification cards (also known as matriculas) among Mexican nationals living in the U.S. The CU accepts matriculas, along with other forms of ID. CEO Fran Godfrey will represent UECU at the signing ceremony.
Three CUs Name New CEOs
GLOVERSVILLE, N.Y.-Three new CEOs have been named. Fulton County FCU has named Timothy R. Myers as its new president/CEO. In Portand, Ore., the $91-million Northwest Resource FCU has named Jim McCarthy as its new president/CEO. McCarthy was previously with TwinStar CU, Olympia, Wash. And in Sacramento, Calif., the $200-million Heritage Community has named former EVP/COO Celeste Martinez as its new president/CEO. Martinez joined HCCU in 2003, and previously was with The Golden 1 CU.
Young & Free Spreads To NM
ALBUQUERQUE, N.M.-The New Mexico CU Association is participating in the Young & Free program, and is currently seeking a "spokester" age 18-25 to reach out to Gen Yers of the same age using social media, special events and other activities. NMCUA said it has worked to make its program unique to the state.
For info: www.youtube.com/watch?v=HdYoUEqUDsA&feature=player_embedded
Help In Event of Teacher Lay-Offs
AUSTIN, Texas-With a state budget crisis ongoing and teacher layoffs in the offing, A+ FCU has launched mydream-job.org, a website aimed at building awareness amongst the education community of free resources, including ways to stretch a budget during unemployment, one-on-one financial coaching, lending assistance, career transitions, and how to become your own boss.
Checking Accounts Rebated $50K
CHELSEA, Mass.-Metro Credit Union awarded over $50,000 to its members at the end of 2010 in the form of a cash-back bonus to My Reward Checking account holders.
The total represents a reward for every debit card purchase made during 2010. This is the 3rd year that Metro has paid the bonus, which has totaled more than $75,000.
Phipps Winner of Levins Award
EVANSVILLE, Ind.-Mike Phipps, president of Evansville Teachers FCU, was named the 2011 recipient of the Buck Levins Award during CUNA's GAC. The award recognizes Phipps for his exceptional commitment to political action on behalf of credit unions. The award is named after Levins, who served as CUNA chairman during the fight to get HR 1151 passed.