NCUA Outlines Other Initiatives
ALEXANDRIA, Va.-NCUA Chairman Debbie Matz said the agency is exploring other regulatory initiatives, including allowing credit unions to buy Treasury Inflation Protected Securities; increasing the maximum application fee for short-term, small-amount loans, and approving the use of video teller machines in order to comply with FOM rules for serving underserved areas.
FD Community FCU Is New Name
WATERBURY, Conn.-Waterbury Firefighters CU has changed its name to FD Community FCU to reflect expansion to a community charter for the city of Waterbury.
CUAD Honors Three People
BISMARCK, N.D.-Three people have been recognized by the Credit Union Association of the Dakotas for their contributions. Michael J. Janke of Dakota Plains CU in Edgeley, N.D., has been honored as the North Dakota Volunteer of the Year. Janke has served on the credit committee since 2003. Robert Feller, a volunteer at Black Hills FCU in Rapid City, S.D, was honored as the South Dakota Volunteer of the Year, recognized for his 26 years of service. Deborah Larson, branch manager of Dakota Plains CU in Enderlin, N.D., was honored as the Professional of the Year. Larson has been especially active in providing financial education for local teens.
Bauges Named CEO At East Idaho
IDAHO FALLS, Idaho-East Idaho Credit Union has named Brad Bauges as its new president/CEO. Bauges has more than 12 years' experience in financial services, most recently as SVP/COO with Columbia Credit Union, Vancouver, Wash.
Northeast, Woodlands CUs in Merger
PORTSMOUTH, N.H.-The $720-million Northeast CU, New Hampshire's third-largest credit union, is picking up five branches in the state's north country with the merger of the $112-million Woodlands CU in Berlin, N.H. Woodlands serves the timber industry.
Neiswonger Named CEO At EFCU
WESTERVILLE, Ohio-The $87-million Education First Credit Union has named Tara Neiswonger as its new president/CEO. Neiswonger had previously served as EFCU's CFO for the past 12 years, and replaces Richard Maslyk, who retired after 15 years.
White Paper on 'Juggling Priorities'
MADISON, Wis.-The CUNA Operations Sales & Service Council has released a new white paper, "Juggling Priorities in Branch Operations Management." The white paper explores the tactics used by managers to balance a wide variety of demands, and is based on information gathered from a variety of sources, including six operations and branch managers at four CUs.
For example, operations and branch managers must meet member needs, nurture employees, reinvent processes, pursue strategic goals, introduce new initiatives and serve a critical role on special teams and task forces.
"Operations and branch managers believe the branch will survive the increasing emphasis on electronic interaction because members still want and need face-to-face interaction in some situations," the paper notes.
For info: go to the white paper section of www.cunacouncils.org.
Trinity CU In Conservatorship
TRINIDAD, Colo.-The Colorado Division of Financial Services has placed the $4-million Trinity CU into conservatorship. Trinity had a $134,000 loss for 2011 and a $23,000 loss for the first quarter of 2012. NCUA has been appointed as conservator.
Silver States Has Postive Q2 Net
LAS VEGAS-The $645-million Silver State Schools CU, the troubled one-time $1 billion credit union, reported a second quarter net of $1.2 million, but still had a loss of $2.3 million for the first six months of the year. The privately insured credit union attributed the improvement to both external and internal factors, especially improving financial conditions in Las Vegas. Regulatory capital at June 30 was $25.1 million, all of it an emergency loan provided to it from its private insurer, ASI Inc., of Dublin, Ohio. ASI has loaned Silver State Schools a total of $26.4 million.
Ill. Governor Signs CU Act Amendment
CHICAGO-Illinois Gov. Pat Quinn has signed S.B. 3217, which amends Illinois Credit Union Act to clarify that the surviving CU in a merger is a successor-in-interest and may enforce mortgages and other loans acquired from the merging CU, in addition to other things. Quinn signed the bill during the American Association of Credit Union Leagues' (AACUL) summer meeting in front of 150 credit union leaders from across the country.