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CU System
CU System briefs (07/27/2009)
* BUFFALO, N.Y. (7/28/09)--The Summit FCU, Rochester, N.Y., is acquiring Kenton FCU, Tonawanda, N.Y. Kenton members voted in favor of the merger Thursday. The resulting credit union will have 10 branches and more than 59,000 members. The Summit also will gain $11.8 million in assets as a result of the merger. All Kenton employees will join The Summit and will begin doing business under The Summit Oct. 1 (Buffalo News July 25). Kenton serves American Axle and O Cello Sponge Corp. employees and employees of other companies in Buffalo, N.Y. Kenton has $11.8 million in assets. The Summit has $427 million in assets ... * HONOULU (7/28/09)--Ariel Chun, University of Hawaii FCU president/CEO, is set to retire at the end of the year (Honolulu Advertiser July 24). The credit union has created a search committee for Chun’s replacement. University of Hawaii FCU has $57.5 million in assets ... * MERIDEN, Conn. (7/28/09)--The Credit Union League of Connecticut’s Small Task Force has authorized the availability of ten $500 scholarships to cover the cost of registration for the league’s 2009 leadership conference Sept. 11-13. To be eligible, credit union representatives must be from a credit union with less than $20 million in assets and be affiliated with the league. The scholarships will be awarded on a first-come, first-served basis. One scholarship will be given per credit union, the league said ...


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