SW Bridge Reports $5.7M Net
DALLAS-Southwest Bridge Corporate is reporting a $5.7 million net through May. Southwest Bridge Corporate CU is in the process of merging with Georgia Corporate CU to form Catalyst Corporate FCU, and is reminding members they will continue to earn dividends through maturity on CD investments according to their original terms. CDs also will continue to be covered by the Temporary Corporate Credit Union Share Guarantee Program (TCCUSGP) through Dec. 31, 2012.
THINK Prize Deadline Aug. 31
RANCHO CUCAMONGA, Calif.-Aug. 31 is the deadline for entries into the CO-OP THINK Prize 2012, which offers a $10,000 grand prize. "The CO-OP THINK Prize is designed to initiate and reward new thinking on how to propel the credit union movement forward," said Stan Hollen, President/CEO, CO-OP Financial Services. More information and an entry form can be found at: www.co-opthink.org/think-prize.
Missouri Corp Exceeds Capital Needs
ST. LOUIS, Mo.-The $450-million Missouri Corporate CU reported it has exceeded the capitalized level required under NCUA's rules, having raised $21.4 million. Its goal was at least $17.5 million. MCCU said CUs in Missouri, Illinois, Oklahoma and North Dakota all made capital commitments, and more commitments are expected.
DCUC Plans To Honor Trio
WASHINGTON-The Defense CU Council will honor three people when it holds its annual meeting later this month: Ralph Story, VyStar CU board member and past DCUC chairman; Roger McTighe, military liaison at North Island CU; and Jean Howard, SAC FCU board member. All will be inducted into DCUC's Hall of Honor. For details on why each person is being honored:www.dcuc.org.
NCUF Report Focuses On Education
MADISON, Wis.-The National Credit Union Foundation has released its 2010-2011 Annual Report titled "Building Consumer Financial Capability through Financial Education." The report details the NCUF's new focus on financial education. For info: www.ncuf.coop.
Georgia CUs Document Outreach
DULUTH, Ga.-Georgia Credit Union Affiliates has issued a new report that shows how CUs in the state are using community outreach and financial education initiatives to help Georgians achieve their financial goals. Among the findings in the "2011 REAL Deal Outreach Report": 84% of the state's CUs offer used vehicle loans for low-credit score borrowers; 79% offer a small-value loan of less than $500; 70% offer free checking (no monthly or per-check fees and no minimum balance requirements); and 69% offer a program to help modest-income members save. The report further stated that members saved an average of $180 per year on interest expense when financing a $25,000 new auto for 60 months at a CU versus a bank.
CPCU Collects Donations For Teen
CHARLOTTE, N.C-Carolina Postal CU here has become a collection point for donations on behalf of Kelly Blanton, a young teen from the Hickory, N.C., area who suffered a neck and spinal injury during the International Finals Youth Rodeo competition in Shawnee, Okla.
Prohibition Order Issued By NCUA
ALEXANDRIA, Va.-NCUA has issued a prohibition order against Amy Shufelt-Cure, a former employee of Columbia Greene FCU, Hudson, N.Y., was convicted of petit larceny. Shufelt-Cure was sentenced to probation and ordered to pay $29,160.69 in restitution.
In Wisconsin, Education At Work
MADISON, Wis.-The Wisconsin league is offering the Investor Education in Your Workplace (IEiYW), a free, online financial and investment education program made possible due to a grant from the Investor Protection Trust. The WCUL said some 3,600 employees across the state have signed on, with more than 4,000 expected to participate by year-end. The program is part of the WCUL's REAL Solutions program.
Fla., Ala CUs Report Good Growth
TALLAHASSEE, Fla.-Numbers from Q1 for CUs in Alabama and Florida show new and used auto loans up 10% in the former, 2.5% in the latter, according to the League of Southeastern States CUs. Other data: Florida CU assets were up $1.1 billion, while Alabama CUs increased $763 million, while membership was up by 15,000 in Florida and 6,000 in Alabama. Collectively, both states saw a 5% ($54 million) increase in MBLs.
CU Assn. Of Dakotas Gets New Name
BISMARCK, N.D.-The Mid America CU Association has changed its name to the Credit Union Association of the Dakotas, and also unveiled a new logo designed to represent North and South Dakota, advocacy efforts, and the three tiers of the CU system.
Federation of CDCUs Elects Board
NEW YORK-The National Federation of CDCUs has elected its board officers: Chair, Lynda Milton of Team Financial FCU; Vice-Chair, Deyanira DelRÃo of Lower East Side People's FCU; Treasurer, Edgar Cosner of The United FCU; Recording Secretary, Shirley Spruill of Renaissance Community Development CU, and Corresponding Secretary, Michael Chan, of Northeast Community FCU. Also on the board are Pam Murphy, Mignhon TournÃ©, Gary Bell, Robin Romano and Sheilah Montgomery.