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CU System briefs (05/08/2008)
* ST. LOUIS (5/9/08)--The Missouri Credit Union Association (MCUA) has sponsored a series of white papers about the subprime mortgage industry and its impact on Missouri consumers (CourierNet May 7). The state ranks fifth in the nation in mortgage delinquency rate and foreclosure rates are skyrocketing. While credit unions aren't part of the subprime mortgage problem in the state, they can be part of the solution, said MCUA. Authors of the papers are Robert O. Weagley, Personal Finance Department chair at the university of Missouri, and Nancy Pierce, president, Tipton Research Group. Pierce is former CEO of Mazuma CU and former board chairman of the Credit Union National Association. The papers discuss the state's situation, the impact on its consumers and credit unions, and how credit unions can assist consumers … * BIRMINGHAM, Ala. (5/9/08)--Bob Steensma, president/CEO of Five Star CU, Dothan, has been seated as the newest member of the Alabama Credit Union League's Board of Directors, reported the league. He has served as president/CEO of the $152 million asset credit union since July 2007. Prior to that, Steensma served as president/CEO of Georgia Heritage FCU, Savannah, Ga. He has 21 years' experience with credit unions. Steensma was elected to a four-year term … * ARVADA, Colo. (5/9/08)--The Credit Union Associations of Colorado and Wyoming (CUAC and CUAW) have hired two new staffers--Andrew Guthrie and Debra Larrabee. As the new association consultant, Guthrie will serve as liaison among credit unions, state and national supervisory authorities, and the association and its affiliates. He has worked for eight years in a variety of positions, including overseeing branch operations, at Elevations CU, Boulder. Larrabee serves as the government affairs administrator and works with the associations' government affairs department to help facilitate daily operations of the team. She has more than 20 years' experience in office administrative support at divisional and local levels and was an administrator for CUNA Mutual Group for more than 10 years... * LEVIS, Quebec (5/9/08)--One in three of Quebec residents--roughly two million people--use Desjardins AccesD internet and telephone services for financial transactions. Desjardins, the largest financial institution in Quebec, is the largest integrated cooperative financial group in Canada. During 2007, members carried out 672 million transactions, a 14% increase from 2006. Desjardins holds 56% of the market share for an area surveyed by NETendances 2007 (Canada News Wire May 8) … * ST. PAUL, Minn. (5/9/08)--A former city employee of St. Paul--who admitted stealing more than $34,000 in coins from parking meters--was sentenced to 90 days in jail and 10 years of probation, and ordered to pay restitution of between $25,000 and $62,000. Vincent Schettner, 63, pleaded guilty in March to one count of felony theft of public funds. He was arrested after a teller at City & County CU told an off-duty police officer that a member regularly deposited large amounts of coins. Schettner deposited $1,000-$1,500 a week and received $800-$900 cash back. The final amount of restitution will be determined by probation officials (Star-Tribune May 3) …


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