NCUA OKs Management Interlock
ALEXANDRIA, Va.-NCUA said its rules do not prevent an employee of the Farm Credit Administration, a government sponsored enterprise that provides funding for agricultural, from serving on the board of a federal credit union. But, the FCA's rules may prohibit such a management official interlock, the credit union regulator said in a new legal opinion issued to Centris FCU, Omaha.
Those rules prohibit any employee of a Farm Credit System institution from serving as an officer or director of any commercial bank, savings and loan, or other financial institution that is not part of the system, NCUA said.
CCU To Open In-Store Branch
PLANO, Texas-Community Credit Union is expanding its grocery store presence following an agreement with another grocery chain. The $1.6-billion CCU will open a branch inside a new Kroger store here this Spring.
The credit union already operates 17 in-store branches with Tom Thumb and Albertson's grocery stores.
CUES Awards 3 Scholarships
MADISON, Wis.-The Credit Union Executives Society has awarded three scholarships for its 2004 CEO Institute program.
The winners are Regina Barker, VP at King County Credit Union in Seattle; Robin Romano, CEO of MariSol FCU in Phoenix; and Susan Streifel, president O of Woodstone Credit Union in Federal Way, Wash.
The CEO Institute is held over three years at three different business schools.
For info: www.cues.org.
CU Changes Name To Discovery FCU
WYOMISSING, Penn.-The $81-million Reading Works FCU has changed its name to Discovery Federal Credit Union.
"The Discovery name change coincides with a strategic evolution of the organization's vision for growth in both membership and service capabilities," the credit union said. "Discovery has evolved significantly, with capabilities rivaling those of larger, for-profit banks and financial service providers." With the new name comes at new web address at www.discoveryfcu.org that offers expanded capabilities. Discovery recently expanded its membership to include all individuals, businesses and organizations in Berks County, Pennsylvania.
NYSCUL Launches 14 New Websites
LATHAM, N.Y.-The New York State Credit Union League has launched 14 new websites that provide in-depth information about credit unions within specific geographic areas, as well as resources for potential credit union members.
The sites can be found at www.nyscul.org and coincide with the 14 districts of the league and include. Each site features local district news, upcoming events, awards and certificate recognition, district leadership and League contact information, as well as a photo album. There is also a secure, password-protected area for district officials.