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News Now

CU System
CU System briefs (04/01/2009)
* SHREVEPORT, La. (4/2/09)--National Credit Union Administration (NCUA) Vice Chairman Rodney Hood is scheduled to speak at the 2009 Annual Membership Meeting for Shreveport (La.) FCU Tuesday, announced Helen Godfrey Smith, president of the credit union. "Mr. Hood has a thorough understanding of the needs of credit unions during these times of economic uncertainty," said Godfrey Smith. "He recognizes the opportunities facing the credit union industry going forward. Our members and guests will gain an in-depth understanding of financial issues and the safety and soundness of credit unions," she added … * CEDAR RAPIDS, Iowa (4/2/09)--The shutdown of a Sealed Air Cryovac manufacturing plant in Cedar Rapids, Iowa, has prompted the merger of Cryovac Employees CU with Dupaco Community CU, based in Dubuque. Cryovac's office in the plant closed Tuesday after the merger was approved overwhelmingly by members at a special meeting Saturday. The merger was effective Wednesday, with Cryovac members having access to Dupaco's full products and services. State and federal credit union regulators approved the merger. Cryovac had 638 members and more than $2.7 million in assets. A full-time employee at Cryovac has joined the staff at Dupaco, which has $546.1 million in assets (Cedar Rapids Gazette March 31) … * WESTBROOK, Maine (4/2/09)--Maine CUs' Campaign for Ending Hunger made its largest, one-time donation--$19,000--to the Good Shepherd Food-Bank. The amount represents the 19 years the credit unions have raised funds for ending hunger. The contribution, made in memory of JoAnn Pike, founder of the food bank, brings the total raised in her memory to $81,000 and the total raised over the 19 years of the campaign to more than $375,296, a record. From left are Luke Labbe, president/CEO of PeoplesChoice CU and chair of the Maine Credit Union League's Social Responsibility Committee, and Rick Small, executive director of Good Shepherd Food Bank. (Photo provided by the Maine Credit Union League) … * GREENVILLE, Tenn. (4/2/09)--A woman convicted of embezzling $105,900 from member accounts at the Rogersville, Tenn., branch of Kingsport-based Appalachian Community FCU, has been sentenced to 30 months in prison, followed by five years of supervised release. Trena Bledsoe, who pleaded guilty to embezzlement and making a false statement in connection with a bankruptcy, faced a maximum sentence of 30 years in prison and $1 million in fines. The embezzlements occurred between April 2006 and August 2007. Court records indicated Bledsoe placed an electronic flag on three members' accounts, which prevented the credit union from mailing statements to the members. (TimesNews.net March 31) …


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