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CU System briefs (01/26/2009)
* HARRISBURG, Pa. (1/27/09)--A former CEO of the now-defunct Greater Harrisburg (Pa.) Community CU was sentenced Friday to five months in federal prison and five months' house arrest. Carl Payne, 67, who also was CEO of the Harrisburg Housing Authority until his indictment in 2007, pleaded guilty to making false statements to the U.S. Department of Housing and Urban Development with intent to defraud and conspiracy to make the false statements. He also was ordered to pay a $10,000 fine plus $50 in fees. U.S. Middle District Court Judge John E. Jones III noted that this was the only blot on Payne's 35-year career of helping low-income people (Life is a Highway Jan. 26 and PennLive.com Jan. 23) ... * MONTPELIER, Vt. (1/27/09)--NorthCountry FCU, South Burlington, Vt., and Vermont FCU, Burlington, are the first Vermont institutions to join the CO-OP Network's national shared-service center program (Newslines Express Jan. 23). "This is a landmark event in Vermont's financial services industry," said Association of Vermont Credit Unions President Joe Bergeron. He added, "You won't find this cooperative spirit and collaboration anywhere else in the financial services industry." The two credit unions already have begun processing shared-branch transactions on a limited basis, with full service expected in the upcoming weeks. Pictured are Vermont FCU President/CEO Bernard Isabelle, left, and NorthCountry FCU President/CEO John Benoit. (Photo provided by the Association of Vermont Credit Unions) ... * WICHITA, Kan. (1/27/09)--Boeing Wichita CU will change its name to Meritrust CU, effective Feb. 1. The credit union had considered changing its name since 1994, when it first opened membership to non-Boeing employees. When Boeing sold its commercial division and became Spirit AeroSystems, people were confused. To combat that confusion, the credit union became known as BWCU. The change to Meritrust was announced earlier this year, but the credit union decided to take advantage of a tie-in with media attention surrounding this weekend's Super Bowl, President/CEO Bob Corwin told The Wichita Eagle (Jan. 25). The $587.5 billion asset, Wichita-based credit union started as Stearman Employees CU in 1936 Jan. 25) ... * LUTHERVILLE, Md.(1/27/09)--First Financial of Maryland FCU plans to open its third student-run high school branch, this time at Eastern Technical High School in Baltimore County, said the Maryland and District of Columbia Credit Union Association. The Maverick Branch, named for the school's mascot, will open at the start of the 2009-2010 school year. The school recently was deemed a Silver Medal School by U.S. News & World Report in an article, "America's Best High Schools." The student run branches operate in an off-line environment with final processing of transactions taking place at the main office of the credit union. The credit union's other student-run branches are in Dundalk High School and Lansdowne High School (FOCUS Newsletter Jan. 26) ...


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