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CU System briefs (03/05/2008)
* WASHINGTON (3/6/08)--National Credit Union Foundation (NCUF) Executive Director Steve Delfin presents a check for $79,657 to African-American Credit Union Coalition (AACUC) Chairwoman Barbara Stephens, president/CEO of Houston Municipal Employees FCU. The check represents the most recent of four quarterly dividends from the Pete Crear Fund, a donor-designated fund within the Community Investment Fund named for the CEO of the World Council of Credit Unions. Credit unions that invest in the Crear Fund designate the dividends to benefit the AACUC. (Photo provided by the National Credit Union Foundation) … * DUBLIN, Ohio (3/6/08)--The Ohio Credit Union Foundation (OCUF) granted an additional $30,000 to the Biz Kid$ television series about financial literacy and entrepreneurship sponsored by America's Credit Unions. The gift brings OCUF's total gift to $60,000, making it the program's third-highest contributor, behind the Washington Credit Union Foundation and California's RMJ Foundation. All nine of Ohio's Public Broadcasting Service (PBS) stations are airing the show, which began broadcasting nationally in January. It runs for 26 weeks on 300 PBS stations nationwide. "Credit unions should be major players in taking Biz Kid$ into classrooms across Ohio and making educators aware of this tremendous resource," said Kathy Kanipe, chair of OCUF and CEO of Parish FCU, Toledo … * WASHINGTON (3/6/08)--Allen Chew is the recipient of the second Kelly J. Purcell Credit Union Memorial Scholarship, named for the former director of federal government affairs at the California and Nevada Credit Union Leagues. Chew is a legislative affairs graduate student at The George Washington University Graduate School for Political Management, where Purcell received her master's. He has worked with the Credit Union National Association in Washington, D.C., for four years. From left are: University Professor Dean Christopher Arterton; Dr. Steven Billet, director of the university's legislative affairs program; Chew; and Bill Cheney, president/CEO of the leagues (Photo provided by the California and Nevada Credit Union Leagues) … * BURNSVILLE, Minn. (3/6/08)--US FCU's new "Borrower Resources" services encourage members to get early access to financial education and loan restructuring, instead of waiting until a crisis. "Borrower Resources" has four components. Financial Counseling offers complimentary one-to-one financial counseling through Lutheran Social Service of Minnesota (LSS). Loan Consolidation provides opportunities to combine loan balances into a single monthly payment to reduce debt more quickly. Loan Restructuring includes custom-designed loan modifications and can include loans from other institutions. Referral Programs provide awareness of and access to resources offered through local civic groups or charities. "This is a very proactive approach," said Jeff Olson, assistant vice president of asset protection, "and one that encourages our members to take control of their financial situation. If they see difficult times ahead, we want to have those conversations with our members early, allowing us to work together to reduce or eliminate future financial hardship" … * HARRISBURG, Pa. (3/6/08)--Belco Community CU introduced three new above-market interest rate accounts. The Sizzling Savings account offers members 7% annual percentage yield (APY) on new money balances up to $500, with a minimum balance of $5 required. The new Savvy Senior checking account for members 50 and older offers 1.25% APY, with a minimum balance of $500 required. The account also offers free basic checks and a one-time certificate rate increase coupon on 0.25% for new or refinanced certificates. The new Cha-CHING! Checking account offers 3.25% APY with a $1,000 minimum-balance requirement, plus free basic checks …


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