NAFCU Holds Board Elections
ARLINGTON, Va.-Elected to three-year terms on the NAFCU board were Jeanne Kucey, president/CEO of JetStream FCU, Miami Lakes, Fla.; Randy Smith, president/CEO of Randolph-Brooks FCU in San Antonio; Michael Lussier, CEO of Webster First FCU in Worcester, Mass., and Frank Berrish, CEO of Visions FCU in Endicott, N.Y.
Georgia United, SECU Merge
ATLANTA-The $655-million Georgia United CU has completed a merger with the $205-million State Employees CU. The combined entity will create a network of 13 branches serving more than 112,000 members.
2 CUs In Bank of Yakima
YAKIMA, Wash.-Catholic Credit Union and Yakima Valley CU are among six financial institutions here participating in Bank on Yakima, which is being sponsored by the Yakima County Asset Building Coalition and is designed to help the unbanked find access to affordable financial services and financial ed. For a limited time, if new account holders complete a two-hour financial management class and keep their Bank On accounts open and in good standing for 60 days, they receive a $50 incentive.
Delaware Leaders Are Honored
NEW CASTLE, Del.-The Delaware CU League has named as its 2010 Outstanding Credit Union Professional John Watson, CEO of Seaford FCU. The 2010 Outstanding Credit Union Volunteer was awarded to Robert "Breezy" Brown, board member at Delaware FCU. Meanwhile, elected as board officers were: chairman, Jerry King of DEXSTA FCU; vice chair, Sharon Schaeffer of Delaware First; secretary, Meredith Jeffries, treasurer, Cheryl Chilcutt, Louviers FCU.
Ellis Named CEO at Meijer CU
GRAND RAPIDS, Mich.-Cathy Ellis has been named president/CEO Meijer Credit Union. Ellis joined MU in 1992 as a member, began volunteering on the Supervisory Committee in 1996, became a board member in 2006, and has served as CFO since 2009. Ellis replaces former CEO Brad Swee, who was named CEO at Iron Mountain-Kingsford Community FCU.
Four CUs In Mergers
PLYMOUTH, Minn.-The $664-million TruStone Financial FCU has absorbed via merger $6-million Ukrainian Credit Union of Minneapolis. Meanwhile, in State College, Penn., $66-million SPE FCU is absorbing via merger $12-million Huntingdon County FCU.
Tuma To Texas CU Commission
HOUSTON-Gary Tuma, president/CEO of Smart Financial CU, has been named to the Texas Credit Union Commission. The Commission consists of four members who are directors, officers, or committee members of a Texas state credit union or FCU with a principal office in Texas, as well as five members who are representatives of the general public.
Prohibtion Order Is Issued
ALEXANDRIA, Va.-NCUA has issued a prohibition order against Rhett B. Rowe, a former employee of Premier Members FCU, Boulder, Colo. Rowe has agreed and consented to the issuance of Order of Prohibition and to Cease and Desist with Restitution in the amount of $9,306 to be paid to PMFCU.
Corps' Biz Plan, Logo OK'd
BAKERSFIELD, Calif.-Western Bridge Corporate FCU reported it has received notification from the NCUA Office of Corporate Credit Unions that it has approved its business plan, which clears the way for distribution of the capital offering materials. The 80-page business plan projects the launch of a corporate credit union with total assets between $4-$5 billion and a capital ratio goal of 5%. Western Bridge plans to operate as United Resources FCU. Meanwhile, Catalyst Corporate FCU, which is the result of the merger between Southwest Bridge Corporate and Georgia Corporate FCU, has introduced its new logo.
Youth Week Draws $3.2M For CU
RALEIGH, N.C.-State Employees' CU said its National CU Youth Week's "Money Rocks at My Credit Union" promotion attracted $3.2 million in new deposits from 17,500 of its young members. SECU's 237 branches opened more than 700 new youth accounts. The credit union promoted the challenge with a variety of displays and games. Branch personnel encouraged financial education during the challenge week through statewide youth presentations within branches and in area schools.