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CU System
CU System briefs (05/21/2008)
* PEWAUKEE, Wis. (5/22/08)--The Wisconsin Credit Union League Board approved the sale of the league's office building in Pewaukee. It also approved a corresponding lease for about one-third of the building for the league's continued use, said the league's newsletter (The League May 19). The number of league staff had diminished over the years and the building had grown too large for its current and future needs, the league said. It expects the sale to close this summer and the space to be occupied by the league will be available in late fall … * NEW YORK (5/22/08)--The Institute for American Values honored Rita Haynes, former chair of the National Federation of Community Development Credit Unions and CEO of the Faith Community United CU, Cleveland, Ohio, with the institute's New Thrift Award at a conference in Washington, D.C. The federation and institute have built an alliance to promote thrift and confront the "debt culture," and an accompanying research report on the topic. The report cites the programs of several federation members, including North Side Community FCU, Chicago; Faith Community United CU, Cleveland; and ASI FCU, New Orleans. Also cited were Community Development Partner State Employees' CU, Raleigh, N.C., and Prospera CU, Appleton, Wis. (Photo provided by the National Federation of Community Development Credit Unions)… * LA PORTE, Texas (5/22/08)--Jack V. McAdoo has been appointed the new president/CEO of Beacon FCU, the credit union's board announced. The appointment was effective April 14. McAdoo has more than 20 years of financial services experience and previously served as president/CEO of StarTrust FCU, Houston. During his ll years there, the credit union grew from $21 million in assets to nearly $100 million. Beacon, based in La Porte, has $90 million in assets and 15,000 members (Pasadena Citizen May 20) … * NORTH HIGHLANDS, Calif. (5/22/08)--Richard Ditzel, a former finance and account manager at Sacramento-based Capital Power CU, pleaded guilty Tuesday to embezzling more than $400,000 from the credit union between 2001 and 2007 (Sacramento Business Journal and Sacramento Bee May 20). He admitted he diverted checks, made false entries in the credit union's general ledger, and used the proceeds to acquire collectible coins. The credit union discovered the embezzlement during its merger last summer into SAFE CU, which is based in North Highlands. Sentencing was scheduled for Aug. 5. He faces up to 30 years in prison and a fine of $1 million plus restitution orders … * BAKU, Azerbaijan (5/22/08)--The Azerbaijan Credit Unions Association (ACUA) has launched a website: http://www.alia.az. The site, which works in Azeri, Russian and English, will inform users about ACUA, its managers, members, partners and development strategy, and international credit cooperatives in general (Turan Information Agency May 15). Also, a two-day international conference was held May 15-16 in Baku, dedicated to the fifth anniversary of ACUA. Elchin Baghirov, ACUA chairman, addressed the conference, reported on ACUA's progress and handed out awards to those who helped the association’s development. Delegates from similar associations in Russia, Lithuania and Kyrgyzstan took part in the conference ... * FARMERS BRANCH, Texas (5/22/08)--Art Shaw, who came to the credit union movement in 1952 as a volunteer and organized numerous Texas credit unions, died. Shaw was inducted into the Texas Credit Union Hall of Fame in 2003. He was elected to the Texas Credit Union League board of directors in 1980, where he served for 14 years. He also served on the Supervisory Committee of Southwest Corporate FCU, Plano, Texas. A lifetime member of the Permian Chapter of Credit Unions, he served as chapter president for three terms. Shaw was the chapter’s CUNA Mutual policy owner’s representative for more than 20 years and was selected as the league’s policy owner representative for the state (LoneStar Leaguer May 21) ...


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