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News Now

CU System
CU System briefs (03/27/2012)
  • ALBANY, N.Y. (3/28/12)--National Credit Union Administration (NCUA) Board member Michael Fryzel will address attendees June 8 at the Credit Union Association of New York's (CUANY) annual convention, which will be held June 7-10 in Lake George, N.Y. "Since he joined NCUA's board, he has proposed and passed the Corporate Stabilization Plan, addressed liquidity problems facing credit unions and promoted the Credit Union Homeowner Affordability Relief and System Investment Programs," said William J. Mellin, president/CEO of CUANY.  Fryzel was appointed by President George W. Bush to the board on Nov. 30, 2007 and took office on July 29, 2008. His term expires Aug. 2, 2013 …
  • WILMINGTON, Del. (3/28/12)--Ronald Tate, 42, of Middletown, Del.,  was  sentenced to two years in prison on charges related to filing fraudulent mortgage applications and cashing six loan checks totaling more than $240,000 from credit unions around the nation (The Daily Times March 26). Tate pleaded guilty in June to one count each of mail fraud and wire fraud.  He allegedly submitted a fraudulent mortgage application to fund the purchase of a home valued at nearly $1 million in North Wilmington. The application allegedly included false information about his employment and income and a false verification of funds on deposit. Tate allegedly cashed the checks from the credit unions between May and September 2009. The checks were loans to be used to fund the purchase of a car. However, the money went elsewhere and no payments were made on the loans …
  • DUBLIN, Ohio (3/28/12)--Ohio Healthcare FCU (OHCFCU)  is reaching out to current and potential members throughout Ohio with its new full-service online branch, WebCU. WebCU provides 24/7 access to healthcare professionals who can open accounts online, manage money and communicate with credit union staff. Money management services include remote depositing, account to account transfers, account alerts, bill pay, automatic transfers and mobile banking. The credit union is also cross-promoting upcoming events in the Ohio healthcare community in its "Community" area. "We hope our members will turn to us for more than just financial services," said Bill Butler, CEO of OHCFUC. "WebCU is intended to be the portal for a wealth of healthcare community-related information," he added …
  • DALLAS (3/28/12)-Dallas-based Neighborhood CU celebrated reaching the $300 million assets milestone during its 82nd Annual Meeting Thursday.  "While other financial institutions are struggling to stay afloat, the active participation by 30,000 North Texans has allowed our credit union to flourish and remain relevant," said Gerald Townsend, chairman of Neighborhood CU's board.  He noted the milestone is the result of proactive change and the addition of new products and services--such as Kasasa, a free checking account that gives members extra money every month and MPower, an auto loan service--to meet the changing demands of members. The products have a strong financial education focus, he said. Neighborhood CU also announced it will open a new branch in Grand Prairie in the fall; is redeveloping its technology platform to include mobile apps for iPhone, Android and iPad; and will serve as "The Official Bank of Six Flags Over Texas" this year …


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