Branch Named CEO At World Council

SAN ANTONIO-The way to growth is innovation, but the problem at most small to midsized companies-including credit unions-is innovation is seen as "slow" and "risky."

WASHINGTON-Consumer advocates and bankers both called on Congress last Thursday to set national guidelines on mortgage servicing to help resolve millions of pending home foreclosures.

A Small Credit Union Roundtable hosted by NAFCU was marked by pessimistic views regarding the "predatory" intentions of larger credit unions, the overwhelming burden of compliance and regulation, and a conviction most regulators would rather see small CUs merged out of existence than have to continue to examine them.

I spent an hour and 15 minutes at a roundtable discussion during NAFCU's annual meeting in San Francisco. Attitudes that had always been so Winnie the Pooh-like in finding the positive have, I'm afraid, become much more like those of Eeyore. Or, just plain poo.

WASHINGTON – A federal appeals court Friday issued a ruling upholding a lower court decision to dismiss MShift’s claim of patent infringement against Intuit and several credit unions and banks for mobile banking technology used by hundreds of Intuit’s financial institution clients.

MEMPHIS, Tenn. – Memphis Area Teachers CU, a $500 million credit union widely known as MATCU, is hanging out new signs to reflect its name change to Orion FCU.

UTICA, N.Y. – The owner of a tobacco store on the nearby Akwesasne Mohawk Reservation was convicted Friday of laundering more than $2.6 million of deposits in Seacomm FCU and Community Bank to evade Currency Transaction Reporting.

HUNTINGTON BEACH, Calif. – NuVision FCU is rolling out a new promotion aimed at attracting more young people with the message, “It’s not your father’s credit union.”

EAST LANSING, Mich. – Michigan State University FCU, sponsor of the Millionaire for a Day and Cash for the Bash high school prom contests, is holding a contest to attract savings from a much younger demographic – toddlers.

FRANKLIN, Va. – Bronco FCU on Friday said it promoted Brian Hedgepeth, director of retail services for the past four years, to be president ad CEO of the $200 million credit union.

RIDGELAND, Miss. – Members Exchange CU has implemented accountWORKS 2G for online account opening for both existing and new members.

MADISON, Wis. – Dane County CU said it has selected Geezeo to provide a Personal Financial Management solution platform.

SATELLITE BEACH, Fla. – Navy FCU, which is expanding its non-Navy membership base, will open its first branch here to serve Department of Defense personnel stationed at Patrick Air Force Base.

LAS VEGAS – A federal bankruptcy court last month agreed to lift the automatic stay in Chapter 11 bankruptcy and allow NCUA to foreclose on a speculative downtown office building it inherited after the 2009 liquidation of Ensign FCU, one of the biggest credit union failures of the past few years.

ST. PAUL, Minn. – With Minnesota’s government shutdown entering its second week, credit unions across the state are prepared to assist members affected by the work stoppage. But many people interviewed by Credit Union Journal said that the shutdown’s effect – at least so far – had been minimal.

WASHINGTON – NCUA on Friday shuttered Borinquen FCU, a $7 million community development credit union it had conserved just two weeks before, the 11th credit union failure of the year.

SEATTLE – One of two foreign national arrested in the skimming of hundreds of thousands of dollars from BECU cash machines last fall was sentenced Friday to five years behind bars.

ALEXANDRIA, Va. – NCUA barred a former middle school vice principal who managed a tiny credit union out of his school offices for stealing $308,000 of the credit union’s funds.

OSWEGO, N.Y. – Compass FCU has contributed a $6,777 pediatric apnea monitor to help caregivers track breathing and heart irregularities in newborns and other babies.