Callahan Named Wegner Winner
MADISON, Wis.-Edgar Callahan has been named as this year's recipient of the Herb Wegner Memorial Lifetime Achievement Award by the National Credit Union Foundation. Callahan was selected in recognition of many achievements, including overseeing as CEO growth to $2.8-billion in assets at Patelco CU, San Francisco, from $280- million, and his approval while chairman of NCUA to permit single-service credit unions to serve multiple groups. The awards will be presented Sunday, Feb. 23 at the Herb Wegner Memorial Awards Dinner at the Marriott Wardman Park Hotel. For info: www.ncuf.coop.
Two More CUs Pay Bonuses
ORLANDO, Fla.-Fairwinds Credit Union said it will return to members more than $1 million in the form of bonuses and rebates. A bonus dividend of 2.34% is being paid on members savings accounts, while an interest rebate of 2.34% is being paid to all borrowers, excluding credit cards. Meanwhile, in Freemont, Mich., during December Gerber FCU paid a year-end bonus via an increase on regular savings accounts 3.50% (3.55% APR) and on share draft accounts to 2.25% (2.27% APR). Rates climbed to 4.00% (4.06% APR) on super six accounts. IRA shareholders were also paid a bonus. In all, the CU paid out an additional $90,000.
Austin Metro Now Velocity CU
AUSTIN, Texas-Austin Metropolitan Financial Credit Union (AMFCU) has made a quick name change-to Velocity Credit Union. Over the past decade the credit union has grown 285% and it said the name is being changed to reflect its expansion to serve more than 250 groups. Velocity CU was founded in 1947 as Austin Utilities FCU. VCU is also redesigning its branches and seeking sites on which to open two new branches.
CUMS Name Changed In S.C.
COLUMBIA, S.C.-The South Carolina league has renamed its service corporation from CUMS, Inc. to Palmetto Cooperative Services, Inc., effective immediately. Palmetto Cooperative Services, Inc. provides printing, mailing, check processing, and other services to credit unions nationwide. The palmetto tree is the state tree of South Carolina.