Blaine Featured On 60 Minutes II
RALEIGH, N.C.-Jim Blaine, CEO of State Employees Credit Union here, was featured during a segment on the CBS news magazeine 60 Minutes II last week. The segment highlighted the fast-growing payday lending industry, and began with a profile of a woman who paid $10,000 in interest and fees on a $2,500 loan. Blaine told reporter Scott Pelley SECU learned of the payday lenders when some of its members got into financial trouble. "It's not a fair fight," said Blaine. "It's the consumer getting in the ring with Mike Tyson. I mean, we all may know the rules. It may be legal, but it's going to be ugly the way it turns out," Blaine said. "A loan shark only charges about 150%. Why would you go pay 400%? Any other choice on the planet is better."
CUES Publishes New White Paper
MADISON, Wis.-CUES has published a new white paper, Credit Union CEO Leadership Profile 2000-2004. Free to all CUES members and authored by Lou Centini, senior director/executive education, Darden Graduate School of Business Administration, University of Virginia, the research report is based on the Leadership Practices Inventory administered to 188 credit union executives who attended CUES' CEO Institute III from 2000 through 2004.
For info: www.cues.org.
Louisiana CUL, Newtek To Partner
HARAHAN, La.-The Louisiana league (LCUL) has entered into an alliance with Newtek Business Services, Inc. to enable Bayou State credit unions to offer business loans and merchant processing to members who own a small business. Newtek Small Business Finance, a full-service, non-bank Small Business Administration (SBA) lender, provides a unique business loan referral program to credit unions. Newtek assists in loans in all business categories allowable under SBA.
UFCU Sponsoring Radio Event
BIRMINGHAM, Ala.-University FCU here will be the title sponsor of the Dave Ramsey "Total Money Makeover Live" event. Ramsey, a popular radio talk show host, will be bringing his live event to Birmingham. Ramsey is a financial counselor who gives advice to the listeners that call his show based on his findings during his journey of being a millionaire by the age of 26 and then bankrupt because of excessive debt within two years. The event will be held at UAB's Bartow Arena.