WASHINGTON - A dramatic increase in liquidity and fallout from the Federal Reserve's interest rate cuts saw credit unions experiencing higher than normal numbers in short-term investments, according to the just-released Callahan & Associates 2002 Credit Union Directory. Figures for the year ending June 30 show a "dramatic" increase in...
* Launched: October, 2000 * Credit unions: CommonWealth One FCU, Department of Veteran Affairs FCU, Arlington Virginia FCU, Transportation FCU, Genesis FCU, Fairfax County Employees CU, Fort Belvoir FCU and Wright Patman Congressional FCU * Total members serving: 250,000 * Assets under management: $15 million * Aggregated assets: $1.2 billion
ALBANY, N.Y. - The $3.9 billion Empire Corporate FCU has added Victor A. Vrigian, Jr., to its senior management team as SVP of PR/Marketing & Sales. Coming from the banking industry, Vrigian was formerly SVP, District Manager for Fleet Bank. Prior to that we was an EVP, General Manager, with...
* Assets: $6 billion * Member CUs: Approximately 1,200. Most are located in Texas, Arkansas, Loiusiana, Oklahoma and Florida. * FOM: National * President/CEO: Francis Lee * Lee on the failed merger: "We are disappointed with this unfortunate turn of events, but we understand and respect the decision...Their decision was...
WASHINGTON-U.S. Treasury Secretary Paul O'Neill signed a tax agreement with United Kingdom Ambassador sir Christopher Meyer and Cayman Island Governor Peter J. Smith CBE to exchange information with the Cayman Islands. O'Neill noted that the Caymans, a well-known tax haven for many off-shore accounts, have been working with the U.S....
MADISON, Wis. - What are the emerging trends among CUSOs and what solutions do CUSOs have to develop to maintain strong relationships with their members? Twenty CUNA Mutual CUStOm Program managers tackled these questions recently during a three-day conference. CUNA Mutual's CUStOm Program is a financial management services program designed...
It seems like someone is forever predicting what will, or won't happen to credit unions, if they do, or don't do certain things. For example, here are just three of many current predictions being made: If credit unions don't serve those of "modest means," they will get taxed. Expanded fields...
MSU Federal Credit Union, East Lansing, employees and members have donated their time to raise $455 for Ele's Place, a counseling center for grieving children. Working with the Lansing Chapter of Credit Unions, MSUFCU management volunteered to wash cars as part of the fundraising effort. A fun day was had...
WASHINGTON - All indicators show e-commerce is gaining in popularity, but don't shred those paper checks yet. Paper checks are likely to continue as a dominant form of consumer payments, says the Fed, and the agency is readying to implement a check modernization initiative to develop more efficient ways to...