Bill Includes CU Appropriations
WASHINGTON-There were several funding provisions related to credit unions included in the fiscal year 2005 omnibus appropriations bill approved by Congress, including, a borrowing authority cap of $1.5 billion for NCUA's Central Liquidity Facility; a $55.52 million appropriation for the Community Development Financial Institutions (CDFI) Fund, and $1 million to the Community Development Revolving Loan Fund (CDRLF).
Navy Fed Makes Top 10 List
VIENNA, Va.-Navy Federal Credit Union has cracked the top 10 list of VISA check card issuers. Navy Federal began offering its VISA Sharechek Card to members in 1999, and in just under six years the credit union's check card program has grown to be among the largest in the nation. During second quarter 2004, Navy Federal's VISA check card sales/purchase volume increased 35% over the same period last year, with almost 87-million transactions for $3.5 billion in sales/purchase volume, year-to-date.
New York CU To Finally Get Home
CHEEKTOWAGA, N.Y.-The $8-million Town of Cheektowaga Federal Credit Union is finally getting a permanent home. During its life it has been housed in a car trunk, a dining room, and in a trailer. Now the credit union is set to open up operations in the former Forks Hotel, which was demolished after the credit union purchased the site in July 2003. Plans are to open the doors Dec. 1. The credit union was chartered in 1980.
Enron Whistleblower To Keynote
MADISON, Wis.-Sherron Watkins, the former vice president at the failed Enron who gained fame for blowing the whistle on problems within that company, will keynote the World Council of Credit Unions' (WOCCU) World Credit Union Conference in July of 2005. Watkins will speak on the importance of governance and the role of ethics in business. The meeting will be held in Rome, Italy.
For info: www.woccu.org.