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News Now

CU System
CU System briefs (03/10/2010)
* ST. LOUIS (3/11/10)--Rep. Russ Carnahan (D-Mo.) met with 15 Missouri credit union
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representatives at Neighbors CU, St. Louis, to discuss credit union issues, with a focus on member business lending (MBL). Carnahan, a co-sponsor of H.R. 3380, which would raise the MBL lending cap, said, "I've always believed in what credit unions offer the community, but credit unions are especially critical in this turbulent financial climate. Credit unions are uniquely equipped to help make loans to small businesses, and credit unions are going to be part of the solution going forward. He also listened to credit unions' concerns about interchange fees, overdraft protection, mortgage cramdown and the proposed community reinvestment act. Most of the detrimental issues facing credit unions don't have traction in Congress, he said. From left: Mike O'Brien, St. Louis Community CU; John Servos, Neighbors CU; Brian Eyestone, Southpointe CU; Laura Alfeldt, First Community; Charlie Waalkes, American Eagle; Rep. Carnahan; Rosie Holub, Missouri Credit Union Association (MCUA); Larry Giesing, Neighbors, Nina Pilger, lst Financial FCU; Dennis Sommer, Alliance CU; Lisa Farnen, Electro Savings CU; Hubert Hoosman Jr., Vantage CU; Micki Milonas, West Community CU; Jana Wolfe, First Missouri CU; and Doug Macias, MCUA. (Photo provided by the Missouri CU Association) ... * LATHRUP VILLAGE, Mich. (3/11/10)--Michigan First CU last week launched its online business banking website, MichiganFirstBusiness.com, for small businesses (Investment Weekly News March 6). The new program, branded as the Business+Community business banking program, offers financial tools and resources that businesses need to grow. It offers products traditionally found at big banks plus other more unique products such as flexible loans, low-cost business checking or an innovative financial solution ... * HUTCHINSON, Kan. (3/11/10)--The board of directors at Hutchinson (Kan.) CU voted to distribute a combined $83,000 to members in the form of a member participation bonus. The bonus was paid Feb. 28 and based on the amount of dividends a member earned and/or interest that was paid on loans during 2009. "The credit union's volunteer leadership is credited with having the spirit to make the bonus decision, balancing it against the demands of regulatory requirements, growing expenses and today's economic uncertainties," said a letter in TheKansan.com March 9) ... * FLINT, Mich. (3/11/10)--Robert C. White of Mt. Morris, Mich., died Feb. 18 at the age of 81. He was general manager of the Flint (Mich.) Area School Employees CU for more than 30 years, said the Michigan Credit Union League (MCUL) (Michigan Monitor March 9). White began his career with the credit union as a part-time employee in 1957 and was hired as the credit union's first, full-time general manager in 1959. Under his management, the credit union grew from $1.9 million in assets and less than 2,500 members to a $120 million institution with nearly 20,000 members before he retired in 1993. According to Pat Hagedorn of the credit union, White was"instrumental in laying the groundwork for the credit union and "taught many of us through his example" about the credit union philosophy. White was active in the credit union movement and heavily involved in MCUL committees and Flint Chapter activities. Funeral services were held in Mt. Morris. White is survived by his wife, five children and many grandchildren, nieces and nephews ...


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