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Eastman CU Gives Back $3.5M

KINGSPORT, Tenn.-The $1.2-billion Eastman Credit Union here has declared a $3.5-million dividend to members to be paid this month. The funds will be deposited into members' share accounts and will be calculated on the amount of business a member has done.

Each eligible member will receive approximately $4.56 in Extraordinary Dividends for every $100 of interest the member earned or paid at ECU during 2003. The dividend marks the seventh straight year ECU has paid such a dividend, which have totaled $15.6 million since 1998.

COFCU Joins Business Partners

LAS VEGAS-Community One FCU said it will become an equity owner in Business Partners, LLC., a CUSO chartered by Telesis Community Credit Union in Chatsworth, Calif., that has begun selling equity ownership interests. Business Partners is a turnkey, member business lending CUSO specializing in business real estate and small business lending.

The CUSO has recently introduced small business services model geared toward the SBA Express and small business loan products.

CUES Teams Up With Harvard

MADISON, Wis.-CUES said it will join with the Harvard Business School (HBS) to offer the Advanced Leadership Institute, a progressive executive education program for credit union leaders.

The ALI is scheduled for July 25-30 at the HBS campus in Boston. CUES said that at its Advanced Leadership Institute credit union executives and board members will be challenged to examine and reframe their organizations, and develop a strategic outlook to improve the effectiveness of their credit union.

Participants at the custom-designed executive program will work with HBS faculty members and credit union colleagues during interactive discussion sessions to develop new insights and best practices to succeed in today's industry.

For info: www.cues.org.

CenCorp Declares Annual Dividend

SOUTHFIELD, Mich.-Central Corporate Credit Union (CenCorp) has declared a special patronage dividend to members equal to approximately $400,000. The dividend will be paid as part of the dividend on Member Capital Share Deposit (MCSD) accounts in December 2003.

The December dividend on this account will be 6%. Including the patronage dividend, the rate by CenCorp on the MCSD account averaged about 50 basis points over a three-year US Treasury security during 2003. The $2.7-billion CenCorp serves 440 CUs.

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