OSWEGO, N.Y. - The president of Oswego Teachers’ Employees FCU, whose body was found on a secluded country road near here last summer, had apparently stolen more than $282,000 from the credit union and was about to be detected. The theft was only discovered after the apparent suicide of 67-year-old Carol Russo, who had run the credit union for almost 20 years, authorities said. Russo told co-workers she was leaving for a doctor’s appointment on June 29, then was reported missing the next day after she failed to show up for work. Her body was found three days later in a remote area and the death was ruled a suicide. The missing funds were discovered during an NCUA audit before the suicide, then were confirmed by an independent auditing firm. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

POMONA, Calif. - Consumer advocate Ralph Nader (left) greets CUNA & Affiliates Managing Director Herb Wegner (right), while California Credit Union League managing director Wil Wyatt looks on. Nader addressed delegates at the League’s December 1971 annual meeting, encouraging them to become more active and involved in consumer issues. Nader also suggested that credit unions be surveyed to see what they’ve done and what their interests are in consumer protection.

WASHINGTON - The economic stimulus packaged passed by Congress will add some much-needed liquidity in high-priced mortgage markets by allowing Fannie Mae and Freddie Mac to buy larger mortgages from credit unions and banks.

CUBUS Deploys CUDeposits

WHAT:

TAMPA, Fla. -

KENSINGTON, Md. -

PORTSMOUTH, N.H. -

LAS VEGAS -

VERNON HILLS, Ill. -

TOPEKA, Kan. -

SEATTLE -

BROCKTON, Mass. — HarborOne Credit Union learned over the years that reaching out to newly arrived immigrants and marketing products to them is a long, slow process that involves building relationships of trust.

PEMBROKE PINES, Fla. -

Nish Shah, chief technology officer, IMM, Linden, N.J.

SUNNYVALE, Calif. -

ST. LOUIS -

Recent Credit Union Journal articles reporting negative earnings for some credit unions in California are missing an important perspective. California credit unions, with more than 11% capital, are well positioned to manage the effects of the current economic downturn, and the amount of losses reported represent only a small percentage of total assets for most credit unions.

Although not-for-profit, “service-profit chain” analysis can and should be utilized in credit unions for the same reasons many other industries have implemented the strategy.

The most powerful research methodology sweeping credit unions today is based on a simple survey question: How likely is it that you would recommend ABC Credit Union to a friend or family member? Survey participants rate their responses on a scale from 0 to 10. Nines and 10s are “promoters” of the organization, 0-6 scores are “detractors,” and responses in between are disregarded.