Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU System briefs (01/12/2010)
* TRENTON, N.J. (1/13/10)--Ruben Rosado, 32, of Rahway, N.J., was sentenced to more than 27 years in prison for 11 violent robberies committed by the "Route 35 crew" against credit unions and banks along Route 35 in Middlesex and Union counties. The holdups netted $288,000. U.S. District Judge Joel A. Pisano in Trenton rendered the sentence for those robberies plus three other armed robberies in 2006 and 2007. Among those incidents were a home invasion in Allentown, Pa., where he bound and gagged a woman and put a gun to her child's head, and a holdup at a gift store, where he beat an elderly courier. Rosado, the gunman of the group, also assaulted employees at the banks. The Federal Bureau of Investigation considered the group so dangerous that it offered a $35,000 reward. The judge also ordered Rosado to pay $374,570 restitution to the victims and to serve five years of supervised release after leaving prison. He also was sentenced to seven years for use of a firearm during a violent crime. That sentence will run consecutively to the armed bank robbery sentence. Four other co-defendants have pleaded guilty and are awaiting sentencing (The Star-Ledger Jan. 11) ... * HARRISBURG, Pa. (1/13/10)--Pennsylvania credit unions met Monday in separate meetings with U.S. Rep. Jason Altmire (D-Pa.) at a breakfast in Pittsburgh and the staff of Sen. Robert P Casey Jr. (D-Pa.) at the senator's district office in Harrisburg, said the Pennsylvania Credit Union Association. Thirty-five credit union leaders and friends were updated by Altmire on health care initiative. He asked for input on credit union issues, including member business lending (MBL), interchange revenue and overdraft protection, and said he is a strong supporter of increased MBL for credit unions. He requested more information on the other issues. At a meeting with Casey staffers Richard Spiegelman, legislative director and chief counsel, and, via telephone, Will Hansen, financial services legislative aide, the discussion centered on the Consumer Financial Protection Agency, credit card regulations, overdraft protection, MBL, and interchange (Life is a Highway Jan. 12) ... * ST. GEORGE, Utah (1/13/10)--The U.S. Small Business Administration (SBA) honored SouthWest Community FCU, St. George, Utah, for its member service and diversity in lending programs for 2009 (Main Street Business Journal Jan. 12). The Utah District of the SBA presented the Blaine Andrus Memorial Award, named for a late Utah SBA office leader, for the credit union's commitment to Utah small businesses. SouthWest Community funded loans such as SBA Express, Patriot Express for veterans, ARC loans for economic recovery, SBA 504 loans for commercial real estate and SBA 7A loans for working capital. The credit union also increased the amount of dollars lent out in SBA products over the same period last year, said the credit union ... * TALLAHASSEE, Fla. (1/13/10)--Ray Cromer, founding chairman of the Credit Union 24 board of directors and a key driver behind the credit union-owned ATM and point-of-sale (POS) network, has retired from the board. Cromer also has retired from his position as president/CEO of Envision CU, Tallahassee Cromer, who was the inaugural chairman of the board in 1997, worked with the network for 25 years and with credit unions for 43 years. Bob Fischer, president/CEO of Grow Financial FCU, Tampa, Fla., since 1992, has been appointed to fill Cromer's remaining term on the Credit Union 24 board. Fisher also served on the network's inaugural board ... * FARMERS BRANCH, Texas (1/13/10)--Milt Durham, former Texas Credit Union League (TCUL) director and CUNA Mutual Group vice president, died Jan. 9, according to the league (LoneStar Leaguer Jan. 12). In 1953, Durham began organizing credit unions and served as treasurer of the Fort Worth credit union. From 1969 to 1974, he was president of Hereford Texas FCU and then of Sears Employees CU. He also served as a leader in the Fort Worth, Amarillo and Dallas chapters of credit unions. He served on the TCUL Services board in 1970-1971 and was elected to the league board for a two-year term beginning in 1973. Durham also was employed by CUNA Mutual Group during 1965-1969 and 1974-1994. When he retired from CUNA Mutual, he was vice president of the Southwest district office in Dallas. He then continued as a board member of Metroplex CU, Carrollton, and served as interim president. Funeral services are today at 10 a.m at First Baptist Church Hurst, in Hurst, Texas ...


News Now LiveWire
Final field-of-membership rule tops April 30 NCUA agenda
7 hours ago
.@CUNA's @Nussle speaks to @VonnieQuinn about #StoptheDataBreaches and reg. relief.
9 hours ago
RT @NCUFoundation: .The Foundation's @hylandhighway with @NatlJumpStart President/CEO Laura Levine at #FLHillDay2015 today:…
11 hours ago
Seriously underwater homes rise, new-home sales tumble News Now:
11 hours ago
#NewsNow Cornerstone Foundation awards $71K in grants
13 hours ago