Worth Noting

Register now

CUNA Tech Council Elects Board

MADISON, Wis.-Elected to the CUNA Technology Council board for 2003-2004 were: Jim Morrell, VP- information systems, Clark County School Employees CU, Vancouver, Wash., chairman; Tom Kroen, director of information technology, First Technology CCU, Beaverton, Ore., vice chair; Brian Warfel, SVP-sales and service, Power 1 CU, Hialeah, Fla., secretary/treasurer; Gail Koehler, VP-technology and retail delivery, Purdue Employees FCU, West Lafayette, Ind.; Lester Warby, VP-CIO, Seattle Metropolitan CU; Annette Zimmerman, SVP-CIO, Mountain America CU, Salt Lake City and Dan Kinne, VP-information technology, Silver State Schools Family CU, Las Vegas.

Dollar: More Disclosure Needed

LAS VEGAS-NCUA Chairman Dennis Dollar said last week the agency will consider a plan to strengthen the member disclosure requirements when a credit union's membership is considering a vote to convert to a thrift. Speaking to the National CU Director's Conference, Dollar reiterated concerns that "demutualization of many credit unions could occur unwittingly by members who are not fully informed that they could be losing their member- ownership status in just two years if the thrift were to become a stockholder-owned bank."

"I believe without question in the right of credit union member-owners to change the structure and charter of their institution," said Dollar. "They would not be true owners if they could not do so."

Dollar said NCUA has heard from "countless" former members of former credit unions that they wish they had known what they were voting on.

KitSap To Build New Headquarters

BREMERTON, Wash.-Kitsap Community FCU has announced plans to build a 52,000-square-foot headquarters in this city's downtown. The $9.5-million, four-floor building will include 4,000 square feet for a branch, and will be built directly across from a new $46-million conference center that is under construction.

The 68,000-member KCFCU said the move will allow it to consolidate administrative staff. The new building will include 50 parking spaces on the ground floor, half of which are to be used by Kitsap Transit and the city for a "kiss- and-ride facility."

For reprint and licensing requests for this article, click here.