Corporate governance

Representatives from eight credit unions throughout Middle Tennessee have created a group that is working to continue the momentum created by Bank Transfer Day.

As banks and credit unions explore ways to create new revenue streams, a new Aite Group report indicates the daily deals market could generate over $1.4 billion in revenue for FIs on more than 300 million transactions by 2017.

VIRGINIA BEACH, Va. – Chartway FCU’s We Promise Foundation, which provides funding for children battling life-threatening illnesses, has raised $750,000 so far in 2012.

WESTFORD, Mass. – Jeanne D’Arc CU has vacated its branch in Nashoba Valley Technical High School after ten years and is being replaced there by Lowell Five Cent Savings Bank.

SAN JOSE, Calif. – Members of Tech CU were scheduled to meet in a special meeting last night to debate and vote the $1.6 billion credit union’s conversion to a mutual savings bank, the biggest credit union conversion to date.

TINTON FALLS, N.J. -- With two weeks still left in United Teletech Financial FCU’ Million Dollar Community Challenge, the $1 million dollar goal has been reached.

ALEXANDRIA, Va. – Pentagon FCU announced this morning it has returned its investment services program to CUSO Financial Services, L.P., after a year-and-a-half hiatus.

OGDEN Utah -- America First CU has teamed up with The Sweet Tooth Fairy Bake Shops to create a signature treat for "Cupcake Friday" events.

HARRISBURG, Penn. – Credit union member and potential members are invited to compete for Philadelphia Eagles or Pittsburgh Steelers tickets, as well as a travel grill, tailgating chair, fan gear, and iBelong logo wear, as part of the Pennsylvania CU Association’s iBelong Tailgating promotion being kicked off this morning in the Altoona/Johnstown and Berks/Lehigh Valley media markets.

May Get Rid of Overdraft Product

ISHPEMING, Mich. – A member of Ishpeming Community FCU won the $10,000 Michigan credit unions’ Own Your Money sweepstakes just by clicking on the credit union’s link.

FORT ATKINSON, Wis. – Fort Community CU has signed with Austin, Texas-based fisoc, Inc., to offer the company’s BuzzPoints local rewards program.

FERNDALE, Mich. – Credit Union ONE awarded $2,000 this summer by randomly giving members $50 bills instead of $20 bills when they visited the credit union’s Grand Rapids ATM.

BOSTON – The City of Boston CU is looking into how members’ relationships translate into profits in the hopes of moving to relationship-based pricing.

MADISON, Wis. – Filene Research Institute’s i3 incubator proposed a mortgage to help buy junior his first house with equity pledged by other relatives, plus a dedicated text message to help prevent member overdrafts, among eight new innovations for credit unions.

WYANDOTTE, Mich. -- Wyandotte FCU, the $90 million credit union serving 110 area companies, is changing its name to Nu Path Community CU as it converts from a federal charter to a state charter encompassing three million people in Wayne, Monroe, Allegan, Ottawa and Kent counties, one of the biggest community charters ever granted in Michigan.

LAKELAND, Fla. – Members at two credit unions, on Florida’s Space Coast and the Gulf Coast, have approved mergers into MidFlorida CU, the fast-growing $1.8 billion credit union.

ALEXANDRIA, Va. – Rather than slowing down, the membership drive spurred by last fall’s Bank Transfer Day sped up in the first and second quarters of the year to a record pace, NCUA reported Friday.

A new study from the Filene Research Institute suggests that fewer service and product offerings may be more efficient and beneficial for credit union members.

ALEXANDRIA, Va. – NCUA reported this morning it approved a request from Hawaii Central FCU to serve the one million residents on the island of Oahu, the fourth credit union cleared to serve all of metro Honolulu.