Events

SACRAMENTO, Calif. - The $6.7-billion Golden 1 Credit Union has created a $20-million fund to help members in foreclosure due to a subprime loan to get back into their home.

TALLAHASSEE, Fla. - Fitch Ratings has affirmed the long-term Issuer Default Rating (IDR) and short-term IDR for Southeast Corporate Federal Credit Union at “AA-” and “F1+”, respectively. The Rating Outlook for Southeast Corporate is “Stable.”

KINGSFORD, Mich. - Norbert “Bing” Emond, who served as a volunteer for Iron Mountain Kingsford Community FCU for 47 years, the last 43 as chairman, passed away March 15 at 79.

ATHENS, Penn. - Ingersoll-Rand FCU said it has promoted its chief financial officer, Michael Viselli, to be the new president and CEO of the $46 million credit union.

BATAVIA, Ill. - In just a matter of weeks, a CUNA-backed candidate twice has lost a bid for a House seat–the same House seat that was vacated by long-time credit union supporter and ex-Speaker of the House Dennis Hastert.

The Daily Item in Lynn, Mass. provided coverage of Brotherhood CU’s partnership with the Massachusetts Coalition for the Homeless to help 29 local households pay for heating costs during February. BCU has offered to pay a portion of the heating costs incurred by these families, “some of whom are a paycheck away from becoming homeless,” the newspaper said. BCU President James Sherman was quoted as saying, “At Brotherhood Credit Union, we know that many of our neighbors are struggling to stay warm during the winter.”

MADISON, Wis. - Compliance-related issues, and even core questions surrounding “ethics” have moved to the front of the stage for many businesses, including credit unions. For those reasons and others CUNA Mutual Group recently named Steve Koslow as senior vice president, chief ethics and compliance officer.

IRVING, Texas - Despite the fact that credit unions held a relatively small percentage of all repossessed auto loans, 0.1% according to CUDL, some credit unions are looking at various ways to stem a steadily rising tide of delinquencies brought on by the credit and mortgage crises.

When it comes to auto lending, we plan:

LOS ANGELES - With the advent of spring comes the traditional car-buying season, and Los Angeles FCU is one of many credit unions that will be holding special promotions in tandem with the season.

SAN DIEGO - A proud Nancy Tinkler, center, shows off her awards won as Miss Credit Union of California 1969. Joining Miss Tinkler, a Whittier College sophomore and stenographer at Conservative Baptist Credit Union, Whittier, Calif., are (from left) Janet Smuland, Miss Friendship; Jane Everett, first runner-up; Miss Tinkler; Patricia Redmon, second runner-up; and Sharon Patterson, Miss California Credit Union 1968. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

SCARBOROUGH, Maine - Hannaford Bros. grocery store chain is placing the financial burden related to the giant cards breach initiated at its stores squarely on the backs of card issuers. A spokesperson for Hannaford, which is the core sponsor for Hannaford Associates FCU, told the Associated Press that it had already lived up to its only responsibilities in the case: identifying and fixing the breach, notifying its own customers and alerting the credit card companies and financial institutions.

MADISON, Wis. - Premier Members FCU in Boulder, Colo., won “Competition’s Best” – the highest “Best of Show” award in the CUNA Marketing and Business Development Council’s Diamond Awards competition.

SACRAMENTO, Calif. - A data security bill sponsored by the California CU League once again is working its way through the California state legislature. The California Assembly’s Judiciary Committee unanimously approved the legislation and sent it on to the Assembly Appropriations Committee, where it is slated to be considered before Aug. 31.

BOX ELDER, S.D. - One credit union has taken the “if you can’t beat ‘em, join ‘em” approach by opening a financing office inside an auto dealership.

WACO, Texas – A man who robbed First Central CU at gunpoint last August, then broadcast the robbery weapon on his MySpace Internet page, on Wednesday was sentenced to 12 years in prison.

LYNN, Mass. – An unemployed Iraq War veteran was arrested Wednesday and charged with robbing the same branch of St. Jean’s CU four times over the past two months.

McLEAN, Va. – Rates for adjustable-rate mortgages climbed this week, even as the Fed continued to ease short-term rates last week, according to Freddie Mac.

DETROIT – In one of the most ambitious in-school expansion plans ever, Michigan First CU said it plans to add 10 student-run branches this year to its network of 11 in-school facilities.