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NCUA Releases Audited Financials

ALEXANDRIA, Va.-NCUA has released its 2010 audited financial reports for its four permanent funds, including the National Credit Union Share Insurance Fund (NCUSIF). The agency reported that all four funds received unqualified or "clean" audit opinions. The other funds include the Operating Fund, the Community Development Revolving Loan Fund, and the Central Liquidity Facility. KPMG LLP completed the audits. The report can be found at www.ncua.gov/Resources/OIG/AuditReports.aspx.

 

Minge Named CEO At Texas Trust

MANSFIELD, Texas-The $700-million Texas Trust Credit Union has named James Minge as its new president/CEO. Minge succeeds retiring CEO Jim Gray. Minge was previously with Randolph Brooks FCU, where he held a number of positions, including SVP/chief project officer.

 

Bill Would Make Conversions Easier

PEWAUKEE, Wis.-The Wisconsin Legislature's Joint Finance Committee has has voted to include language in the state budget bill that would make it easier to convert a credit union to a bank. The Wisconsin league said the provision was inserted into the bill "without any public hearings, without any notice to credit unions, and without seeking any input from credit unions or their members." The league said the provision "bypasses all the considerations and owner protections provided by the two currently available avenues" to conversion.

"It's no surprise that this anti-consumer provision was included at the request of the Wisconsin Bankers Association (WBA)," said WCUL CEO Brett Thompson, president/CEO of the Wisconsin league. "If the WBA thinks it's good policy to make it easier for a credit union to become a bank, then it should have a stand-alone bill introduced, permitting all interested and affected parties a chance to speak up and be heard in an open discussion.

 

Freiberg To Keynote At NY Meeting

ALBANY, N.Y.-Dr. Kevin Freiberg, recently named one of the "Top 30 Best Minds on Leadership" by Leadership Excellence Magazine, will present the closing keynote speech at the Credit Union Association of New York's Annual Meeting & Convention on June 5.

For info: www.cuany.org.

 

Muto, Stere Honored In Pennsylvania

HARRISBURG, Penn.-The Pennsylvania Credit Union Association has named Fran Muto, CEO of People First FCU in Allentown, as its 2011 William W. Pratt Professional of the Year. Jim Stere, a director with Wheatland FCU in Lancaster, was named winner of the Joseph A Moore Volunteer of the Year award.

 

Burks Named To CUES Board

MADISON, Wis.-Gerrianne D. Burks, president/CEO of Northwest FCU, Herndon, Va., has been named to CUES' board to fill the unexpired term of former director Carol A. Humenick of Citadel FCU, Thorndale, Penn.

 

Silver State Cuts Salaries 2%

LAS VEGAS-Silver State Schools CU reported last week that its 226 employees will see a 2% reduction in salaries as the credit union looks to cut expenses. The $725-million SSSCU projects the reduction will create $150,000 in annual savings. Silver State posted a $90,000 net in Q1, after nine consecutive quarters of losses.

 

CUES, MCUL In Partnership

SOUTHFIELD, Mich.-The Michigan CU League and the Credit Union Executive Society's Michigan Council said they have reached an agreement to support, promote and sponsor each-other's educational events. The effort will allow the organizations to coordinate their educational calendars and create complimentary opportunities for all levels of credit union staff," the groups stated, stressing the partnership does not integrate CUES Michigan Council and the Michigan league in any way.

 

Pen Air's Johnson Honored By LSCU

PENSACOLA, Fla.-The League of Southeastern Credit Unions has named Pen Air FCU Chairman Maurice Johnson as its 2011 Volunteer of the Year. Johnson, a board member of more than 30 years, will be honored in conjunction with the LSCU's Annual Convention and Expo on June 18 in Orlando.

 

Tourne, Vermander Are Honored

NEW YORK-The National Federation of CDCUs has named the winners of its 2011 Annie Vamper "Helping Hands" Awards: Mignhon Tourné, president/CEO of ASI FCU, Harahan, La., and Kim Vermander, SVP with Communicating Arts CU, Detroit.

"While presented to individual CDCU heroes, the Annie Vamper Helping Hands award not only recognize each awardees' selfless work to promote the credit union ideal of 'people helping people,' but they also honor the credit unions that have enabled these individuals to shine," said Federation President Cliff Rosenthal. The awards will be presented June 17 during the Federation's 37th Annual Conference on Serving the Underserved in Hollywood, Calif.

For info: www.natfed.org.

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