Corporate governance

STROUDSBURG, Penn. – NE PA Community FCU has hired CUSO Financial Services LP to develop a managed investment program for its members.

TOWSON, Md. – State Employees CU of Maryland is expected to announce a naming rights deal tomorrow for Towson University’s new $62 million arena, located about 15 miles from the credit union’s Linthicum headquarters.

DETROIT – Fifteen local credit unions this morning rolled out a local merchant funded rewards program with RewardsNOW to help bolster commerce in this financially strapped city.

One person believes credit unions need a new strategy for their websites—one that will actually help generate income.

One person believes that credit insurance and debt protection continue to be a strong opportunity for CUs to drive revenue.

While 10% of clients often account for up to 90% of an organization’s net income, one person pointed out that as much as 50% of an institution’s most valuable clients may be unknown to branch staff.

HIGHLANDS RANCH, Colo. – Fittingly, Red Rocks Credit Union has entered into a partnership with Denver-area concert venue Red Rocks Amphitheatre.

BARTLESVILLE, Okla. – 66 FCU, the one-time credit union for Phillips Petroleum, has changed its name to “Truity” CU, which it said is a play on the words trust and integrity.

BETHPAGE, N.Y. – Bethpage is raffling off a new Chevrolet as part of its month-long “All-American” celebration campaign aimed at underscoring the benefits of credit union banking.

LAKE JACKSON, Texas – TDECU has agreed to acquire seven branches in greater Houston previously slated for closure – along with $34 million of loans and $30 million of deposits at the branches – from Hancock Bank, as part of a sell-off of assets of the company’s Whitney Bank unit.

OTTAWA, Canada—A twenty-something branch manager with Canada’s Bayview Credit Union is offering suggestions on what it takes to recruit and retain people in her generation as employees.Cheryl McCormack told the World CU Conference the keys with Gen X and Gen Y as workers are development, motivation and empowerment. McCormack began in 2006 as a part-time MSR (when her goal was to be an electrician) before being named branch manager in 2012.

PHILADELPHIA – Freedom Credit Union is now paying a $25 bounty to members who refer new members – plus $25 to the new members – as part of its refer-a-friend rewards program.

ALEXANDRIA, Va. – The NCUA Board at next week’s meeting will review a request from San Francisco FCU to expand its community charter from serving the 810,000 residents of San Francisco County to also serve the 725,000 residents in San Mateo County to the south.

PLANO, Texas – InTouch CU, which recently acquired nearby Dr. Pepper Employees FCU, has applied to state regulators to serve the 19,000 employees of Dr. Pepper Snapple Group and its subsidiaries.

STAMFORD, Conn. – Stamford FCU has expanded its field of membership to southern Fairfield County, including the New York bedroom communities of Greenwich, Stamford, Norwalk, New Canaan, Darien, Weston, Westport, Wilton, Fairfield, Trumbull, Bridgeport, Easton, Shelton, Stratford and Monroe.

OTTAWA, Canada – Social media expert and strategist Charlene Li told the World Credit Union Conference here there are seven steps needed to make social media a success in any organization, and that one mistake made is the last one in importance often is the first (and only) step to get attention.

OTTAWA, Canada – A fundamental, cultural shift within First West Credit Union here is helping to chop costs across the enterprise and improve its efficiency ratio.

MADISON, Wis. – The Filene Research Institute with Del Norte CU and Dupaco Community CU have launched a new competition among 20 Visa cardholders to study the trajectory of a credit score with a six-month race to see who can improve their FICO score the most.

OTTAWA, Canada – The “Unite for Good” theme CUNA has created is aimed at CUs in the United States, but credit unions from around the world are being urged to use it, as well.

OTTAWA, Canada – Credit unions in four Atlantic provinces of Canada are in the midst of a significant self-evaluation that could change the way they operate.