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CU System briefs (06/27/2013)
  • WASHINGTON (6/27/13)--At 10 a.m. (ET) this morning, the Senate Banking Committee is scheduled to begin its hearing into the nomination of former Oregon State Sen. Rick Metsger (D) to become a member of the National Credit Union Administration board, as well as a host of other nominations.  Metsger was named by the White House in May as a candidate to fill the seat on the NCUA board left open since former member Gigi Hyland exited in October of last year. If confirmed, Metsger will join NCUA Chair Debbie Matz and board member Michael Fryzel to fill out the three-member board. Other nominees on the committee's agenda today include Rep. Melvin L. Watt (D-N.C.) to be director of the Federal Housing Finance Agency; Dr. Jason Furman of New York, to be a member and chairman of the Council of Economic Advisers; Kara M. Stein of Maryland, to be a member of the Securities and Exchange Commission; and Dr. Michael S. Piwowar of Virginia, to be a member of the Securities and Exchange Commission. Interested parties should be able to view the hearing at http://www.banking.senate.gov/public/ ...
  • LOWELL, Mass. (6/27/13)--NMTW Community CU, Lowell, Mass., will change its name to Align CU in September. NMTW, which stands for Northern Massachusetts Telephone Workers, was granted a community charter in 2005. Membership is now open to anyone who lives, works or goes to school in communities in eastern Massachusetts and southern New Hampshire (The MetroWest Daily News June 25). The new name is the result of more than a year of research, analysis and planning, the credit union said. The Align name reflects tailoring products and services to each member's needs, said Lauren Robinson, NMTW assistant vice president and marketing director ...
  • WASHINGTON (6/27/13)--Credit unions had an extra reason to celebrate being credit unions Wednesday. On June 26, 1934, President Franklin D. Roosevelt signed into law the Federal Credit Union Act to promote savings and make credit available through a nationwide network of not-for-profit credit unions. It authorized credit unions to be chartered either under federal or state law, a policy that still remains today, and established what is now the National Credit Union Administration, as a satellite of the Farm Credit Administration. The New Deal initiative was based on the Massachusetts Credit Union Act of 1909, said NCUA on its website. At the beginning of 2013, there were more than 6,819 federally insured credit unions with more than $1 trillion in assets and nearly $600 billion in outstanding loans ...
  • NEW BERLIN, Wis. (6/27/13)--Barb Campbell, president of  Dodge Central CU, a division of Landmark CU in New Berlin, Wis., will retire effective Nov. 30. Rodger Mattson, former board chair for Dodge Central CU, made the announcement Tuesday. During Campbell's 18-year tenure as president/CEO, Dodge Central grew from a $2 million asset credit union with a single branch into a $55 million, five-branch operation, including a branch in Beaver Dam High School to help students learn the value of money. Campbell will remain a member of a local community board consisting of all former Dodge Central board members. While serving in her position, Campbell also has been active in charitable organizations--including Children's Miracle Network-- that involved the help of employees and members of Dodge Central. Jay Magulski is president/CEO of Landmark CU ...
  • WOODBRIDGE, Va. (6/27/13)--Tisha Wallace, chief operations officer of Woodbridge, Va.-based Belvoir FCU, was elected to serve a three-year term on the Credit Union Auto Loan Network (CUALN) Board of Directors.  The board consists of nine senior executives from participating credit unions who meet quarter to approve annual budgets and strategy, determine new product offerings, discuss the geography of CUALN's operation, and determine how to better serve credit union members. CUALN is a program where members of participating credit unions can obtain auto financing from the credit union directly at the dealerships.  It was established in 1998 to serve the Maryland, Northern Virginia and the District of Columbia market ...


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