NYIB To Meet In Pittsburgh July 25-28
PITTSBURGH-The National Youth Involvement Board (NYIB) will host its 2011 Annual Meeting here July 25-28 at the Marriott City Center. Challenging participants to "Up Your Youth," the event is a focused effort to support participants' youth outreach and help lower credit unions' average member age.
For more info on the agenda: www.nyib.org.
More Mergers Announced
PORTSMOUTH, N.H.-Members of Seacoast Credit Union have voted in favor of merging into the $1.8-billion Service Credit Union. In Bethalto, Ill., the $5-million, 1,100-member Alton Area Employees FCU is being absorbed via merger by the $450-million 1st MidAmerica Credit Union.
CIF Hits $10M Threshold
ARLINGTON, Va.-NCB, FSB, a federally chartered savings bank that serves cooperatives nationally and which has been partnered with the National Credit Union Foundation (NCUF), reported it has reached more than $10 million in Community Investment Fund (CIF) deposits at the bank. The philanthropic program enables a customer/institution to donate the interest earned on a deposit at NCB to the National Credit Union Foundation in support of its national and state community impact programs. To date, more than 60 credit unions from 21 states have participated in the unique deposit donation program with NCB. A donation designation form and deposit account application can be found www.cifwithncb.coop.
Mid Cities Financial Now Mid Cities
COMPTON, Calif.-The $25-million Mid-Cities Financial Credit Union has been approved to shorten its name to Mid Cities Credit Union. With the new name has also come a new logo and look, which the credit union said followed several months of research.
NCUA Webinars Now Archived
ALEXANDRIA, Va.-NCUA said webinars it hosted earlier, "Current ALLL Exam Issues and Practical Ways to Factor Q&E Adjustments into the Methodology," and "Voluntary Prepaid Assessments Program", and now both archived and available for viewing. In the former webinar, the agency's Office of Examination and Insurance in conjunction with the Office of the Chief Economist works to deepen understanding of the agency's 2006 Interagency ALLL Policy Statement. In the latter webinar, Chairman Debbie Matz and senior NCUA staff offer insights into a voluntary prepaid assessments proposal first unveiled May 19. The archive can be found at www.ncua.gov/NewsPublications/News/Webcasts2011.aspx#top.
NACUSAC Elects Board, Honors Duo
DEL MAR, Calif.-NACUSAC has held its board elections, with Robert Butler, Supervisory Committee Chairman at PrimeWay FCU in Texas, Maureen McCabe, Audit Committee Member at Fairwinds CU in Florida, and Tom Suter, Supervisory Committee Chairman at Wescom Credit Union in California elected to three year terms. Gerald Dunning of Caltech FCU will serve as chairman; Michael MacFeeters of Credit Union of New Jersey will serve as vice chair, and Cecil Short of Educational Systems FCU will serve as secretary.
Ostrowski New CEO At STCU
SPRINGFIELD, Mass.-STCU Credit Union has named Michael S. Ostrowski, a 30-year banking veteran, as its new President and CEO. Ostrowski will replace William (Bill) Brothers, who has retired. Ostrowski was previously with Barre Savings Bank, where he served as SVP-lending.
Prohibition Order Is Issued
ALEXANDRIA, Va.-NCUA has issued a prohibition order against Aimee Rattiff, a former employee of Fort Campbell FCU, Clarksville, Tenn., who was convicted of theft of property. Rattiff was sentenced to probation, ordered to perform 150 hours of public service work and pay restitution in the amount of $4200.
PCUA OK's New Dues Structure
HARRISBURG, Penn.-The Pennsylvania CU Association has OK'd a new dues structure for 2012 that does not include a mandatory iBelong assessment. iBelong is a statewide credit union awareness campaign. In 2012, the dues structure will be based on the square root of a CU's assets times a factor of 1.1165. CUs of less than $10 million in assets will see no increase or perhaps even a small decrease in dues, while larger CUs will see an increase, the PCUA reported.
Comptroller Keynotes MCU Meeting
NEW YORK CITY-New York City Comptroller John C. Liu was the keynote speaker at Municipal Credit Union's annual meeting here. Liu commended MCU on providing an invaluable service to its membership and the City of New York as a whole. More than 1,200 members attended the meeting.
MCU closed 2010 with net worth of 11.17%, while assets grew $76 million to $1.6-billion.