Bonds Resigns From CACU; Brokerage' May Follow

IRONDALE, Ala.-Thomas Bonds has resigned as CEO of Corporate America CU, a post he held for the past 11 years.

"It is clear that the corporate credit union industry is changing," said Bonds in a released statement. "As such, I believe I can better use the skills I have acquired over the past 25 years to assist credit unions with brokerage services."

Dan Buckley, SVP-risk management at CACU, will serve as interim president/CEO while a successor is sought. Corporate America issued a statement noting that under Bonds Corporate America suffered no losses, either in membership capital shares or paid-in capital, during the recent corporate crisis.

Catalyst Consolidates

Western Bridge Operations

PLANO, Texas-Catalyst Corporate FCU reported it has completed its consolidation with Western Bridge Corporate following the transfer of core systems, billing, wire services and Internet connectivity.

The consolidation has included a series of service conversions that have taken place over the past several months. As a result of the item processing transition, for instance, Catalyst Corporate's daily check processing volume has jumped to nearly 700,000 items per day from from approximately 420,000 items per day in April, with a high of more than 1.2 million checks processed in a single day.

'My CU Is Everywhere' Is Launched

LITTLE ROCK, Ark.-The Arkansas CU League said it will begin using the "My Credit Union is Everywhere" video developed by CU*Answers as part of a statewide cooperative ad campaign. That effort is designed to raise awareness of CUs in Arkansas. A committee formed by the league selected the video, created by the CUSO CU*Answers and Fulview Productions in Grand Rapids, Mich., to run as 30- and 60-second commercials on TV. There will also be additional ad support using radio and billboards, along with social media. The ads are recognizable for the character in the commercial known as the "Green Shirt Guy."

$21K Paid In Disclosure Suit

BIRMINGHAM, Ala.-A federal court here awarded $19,000 to a law firm suing Guardian CU for failure to post ATM disclosures and a lesser amount, $2,500, to the named plaintiff in the case who filed suit under the Electronic Funds Transfer Act on behalf of non-member users of two credit union-owned ATMs. The Montgomery credit union had agreed to a settlement of the class action that would pay the plaintiff, Patrick Hart, $2,500 as class representative and set aside $42,500 to pay other claimants up to $100, but the payment of legal fees was still at issue.

Fairbanks Joins NCUA's PACA

ALEXANDRIA, Va.-NCUA has named John Fairbanks as its new Public Affairs Specialist in its Office of Public and Congressional Affairs. Fairbanks was previously with the Brookings Institution, and prior to that was with the Vermont Housing Finance Agency.

Man Arrested While Depositing Funds

SAN ANTONIO, Texas-A man believed responsible for a robbery at Chase Bank was arrested after he walked into a Security Service CU branch in the same shopping center and tried to deposit the stolen money.


In the June 25 edition, the logo for Financial Partners CU was erroneously published as part of a story about Financial Partners FCU. The correct logo is shown here.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.