Cohenour Named CEO By MCUA

ST. LOUIS--The Missouri Credit Union Association has named Don Cohenour as its new president/CEO. Cohenour, an 18-year veteran of the MCUA, had been serving as interim CEO and succeeds Mike Beall, who left the association to become CEO of National Cooperative Business Association in Washington.

Gilbody Exits After 4 Months

LEOMINSTER, Mass.-Paul D. Gilbody, who took over as CEO of Leominster Credit Union in September, 2012, has resigned the position. SVP Carol Southworth has been named interim CEO. A spokesperson for the CU was quoted in local media saying the resignation followed a difference with the board.

Paper On Managing Expenses

MADISON, Wis.-The CUNA CFO Council has released a white paper, "A New Era in Expense Management," which delves into expense management practices that "go beyond budgeting to encompass strategic planning, process improvement, and revenue generation." Credit union leaders stress that expense management should focus on adding value to operations." For info: www.cunacouncils.org.

Rio Grande, NM Central Merge

ALBUQUERQUE, N.M.-The $203-million Rio Grande CU has acquired via merger $25-million New Mexico Central CU and its 2,500 members.

Four New CEOs Are Named

BETHALTO, Ill.-Alan Meyer, EVP/COO with 1st MidAmerica CU, has been named CEO at the credit union effective June 1, following the retirement of Don Reedy. Reedy has been with the CU for 35 years, and has overseen growth to $482 million from $15 million in assets. Meyer has 29 years in financial services and part of 1st MidAmerica since 2002. In Miami, South Florida Educational FCU has named Mike DiBenedetto, EVP-adminstration with FirstLight FCU in El Paso, Texas, as its new president/CEO. DiBenedetto will succeed William Page, who has served athe $800-million SEFCU for 30 years-the last eight as CEO. In Bowling Green, Ky., Service One CU has named Garth Griese as president/CEO of the $115-million CU. Griese, former CEO at Arizona State CU and Southeast Financial FCU, and COO at Arizona FCU, will succeed Valerie Brown, who retired after 14 years of service. In New Berlin, Wis., the $2-billion Landmark CU has named president/COO Jay Magulski as its new CEO, succeeding Ron Kase, who will remain on the board of directors.

CO-OP Reports Records Set

RANCHO CUCAMONGA, Calif.-CO-OP Financial Services reported it established new annual, monthly and daily transaction volume records during 2012, including 2.5 billion transactions for the year. The 2.5 billion transaction figure for 2012 represents a 13.6% increase compared to the 2.2 billion processed in 2011, including cardholder debit, credit, ATM and shared branch payments. CO-OP has 3,500 credit unions as clients, which includes 30 million credit union cardholders. CO-OP also reached a new single month transaction record in December 2012 with 230 million, and on Dec. 22 set a new single day transaction record with nine million payments processed.

Ostrowski To Lead Worldwide Fndtn.

MADISON, Wis.-Calyn Ostrowski has been named director of the Worldwide Foundation for Credit Unions, the charitable arm for World Council of Credit Unions. Ostrowski has most recently led program, operational and fundraising initiatives for the Global Health Initiative (GHI) at the Woodrow Wilson International Center for Scholars in Washington.

More Special Dividends Paid

HARRISBURG, Penn.-PSECU here is paying a $10-million "Relationship Reward" to its members based on usage of eligible products and services, which earns a fixed dollar amount depending on the product or service, and based on a percentage representing the amount the individual member and the entire membership received in total dividends earned and interest paid in the past year. Every qualified member received at least $10. In Edwardsville, Ill., Scott CU has paid a bonus dividend of $1.2 million to members, giving active members an additional 3% APY bonus on deposits and rebating borrwers 3% of interest paid during 2012. And in Arvada, Colo., Partner Colorado CU has paid its members a $700,000 bonus as part of a "Give Back Day" that included sponsorship of a community food drive with Food Bank of the Rockies and events at each of the credit union's six branches. "

League Execs Relocate To Capital

RICHMOND, Va.-The Virginia Credit Union League is relocating some members of its staff to a newly purchased office building two blocks from Capitol Squire here. Five of the league's 24 staff members, including league President Rick Pillow and three of the VCUL's five management team members will be making the move from its current Richmond, Va., headquarters.

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.