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CU System briefs (01/17/2014)
  • MADISON, Wis. (1/17/14)--Feb. 1 is the deadline to purchase tickets for the National Credit Union Foundation dinner, which will be Feb. 24 in Washington, D.C., in conjunction with the Credit Union National Association's Governmental Affairs Conference. "The top two tiers of sponsorships are already sold out, and tickets overall have been selling twice as fast as last year," said Executive Director Gigi Hyland. The dinner includes the award ceremony for recipients of the Herb Wegner Memorial Awards. Lifetime achievement honorees are Gary Oakland, retired president/CEO, BECU, Tukwila, Wash.; Jim McCormack, retired president/CEO, Pennsylvania Credit Union Association, Harrisburg, Pa.; and Tim Haegelin, retired president/CEO, Generations FCU, San Antonio, Texas. The individual achievement award will go to Sarah Canepa Bang, president/COO, CO-OP Shared Branching-FSCC, and chief strategy officer, CO-OP Shared Branching ...
  • FARMERS BRANCH, Texas (1/17/14)--The Cornerstone Credit Union League is moving its Principles & Philosophy Conference to May 12-14. The conference was originally scheduled for Feb. 10-12, but there was some concern that the event was too close to the Credit Union National Association's Governmental Affairs Conference, which is Feb. 23-27 in Washington, D.C. (Leaguer Jan. 14).  The conference, themed "Leveraging the Credit Union Difference," will be in Dallas ...
  • MADISON, Wis. (1/17/14)--The Filene Research Institute is hosting a free webinar on social media compliance 11 a.m. CT Jan. 29. Titled "Critical Considerations," the webinar is part of Filene's Social Media Advisory program. In December, the Federal Financial Institutions Examination Council (FFIEC) released guidance to help financial institutions understand how existing requirements and supervisory expectations associated with the use of social media apply to them (See News Now "CUs, FIs Get Social Media Guidance," 12/12/13) ...
  • VANCOUVER, Wash. (1/17/14)--Two southwest Washington credit unions announced their plans to merge--a move that coincides with the retirement of their respective leaders. iQ CU, with $503 million in assets, will consolidate with $196 million-asset Lacamas Community CU in July. Roger Michaelis, president/CEO of the Vancouver-based iQ CU, plans to retire in July. In Camas, President/CEO Kathleen Romane is set to retire at the end of the year from the $196 million-asset credit union. The combined institution will have 15 branch locations and 240 employees ...
  • CLEVELAND, Ohio (1/17/14)-­-The former CEO of Taupa Lithuanian CU was charged with one count of conspiracy to commit bank fraud that resulted in $15 million in losses at the now-defunct credit union. On Wednesday, the FBI released details of the charges against Alex Spirikaitis, 51. Spirikaitis personally embezzled about $4.2 million from the Cleveland, Ohio, credit union between 2001 and 2013, according to the information. The release said Spirikaitis used the embezzled funds to buy firearms and vehicles and to build a home. Spirikaitis went into hiding in July after the credit union was liquidated by the National Credit Union Administration and was arrested in October.  In related news, John Struna, 51, was charged in federal court Tuesday with one count of conspiracy to commit theft or embezzlement from a credit union. Former teller Michael Ruksenas pleaded guilty Dec. 2 to embezzling more than $481,000 from the credit union. At the time of its closure, Taupa Lithuanian CU had $23.6 million in assets and 1,154 members ...
  • PUTNAM, Conn. (1/17/14)--Charter Oak FCU, Groton, Conn., pledged $50,000 over five years to build a regional community YMCA facility in Putnam, Conn. The YMCA will serve the towns of Brooklyn, Eastford, Killingly, Plainfield, Pomfret, Putnam, Thompson and Woodstock (Norwich Bulletin Jan. 13). The $784 million-asset credit union contributed to the roughly $13.2 million that has been raised by the Newell D. Hale Foundation, the YMCA of Greater Hartford, the state of Connecticut, and individual and corporate donors . . .


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