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CU System
CU System briefs (08/14/2008)
* BLOOMFIELD HILLS, Mich. (8/15/08)--Members of T&C FCU based in Bloomfield Hills, Mich., have approved a merger of the credit union with USA CU, Auburn Hills, with 91% of voters approving the merger. The merger already had been endorsed unanimously by both credit unions' boards, and approved by state and federal regulators. "We are absolutely delighted so many of our members agreed with our plan to merge," said Dianne Addington, T&C president/CEO and the CEO-designate of the merged credit union, Genisys CU. "We did everything we could to ensure that our members understood the reasons behind the merger and what it will mean to them, and they obviously listened." Genisys will have 130,000 members and $1.2 billion in assets, making it the fourth largest credit union in Michigan … * OGDEN, Utah (8/15/08)--The Federal Bureau of Investigation (FBI) has placed on its Most Wanted List a man accused of the armed robbery of Goldenwest CU July 3. Curtis Brad Cordery allegedly forced two tellers into the vault and filled a bag with money, then left in one teller's car. Authorities found the abandoned car four blocks from the credit union. A teller, Jeffery Lyle Nay, who was a friend of Cordery, admitted to being part of the heist, the FBI said. Cordery made a call to Nay from the San Francisco area afterward. Both men are charged with armed robbery. Nay faces a maximum of 25 years in prison and a $250,000 fine, but prosecutors believe there may be a plea deal in the works (ksl.com Aug. 13) … * LOS ANGELES (8/15/08)--Albert Talton, 45, of Lawndale, Calif., pleaded guilty to federal conspiracy and counterfeiting charges related to a large-scale ring that produced more than $7 million in fake currency. He is among six people charged with making bogus bills using an inkjet printer, newspaper and special paper, computer software, and hairspray. The ring had brokers sell the bogus bills. A raid by federal agents on Talton's home yielded nearly $250,000 in completed bogus bills and about $825,000 in partially completed bills. Co-defendants David Goldberg, Paul Tracy McCorry, Cory Nero, Troy Stroud and Ernest Alexander are charged with conspiracy, and distributing and manufacturing counterfeit currency. Stroud pleaded guilty. The trials for Goldberg McCorry and Nero are Sept. 16. Alexander is still at large (The Mercury News and DailyBreeze.com Aug. 11) … * HARRISBURG (8/15/08)--Leaders from two State College, Pa.-based credit unions--SPE FCU and Penn State FCU--meet with Glenn Thompson (seated at right), a candidate in the Fifth District congressional race. Christina Milhalik, Pennsylvania Credit Union Association (PCUA) assistant vice president, also attended the event at SPE FCU (Life is a Highway Aug. 14). Russ Brooks (standing), CEO of SPE FCU and member of PCUA's Governmental Affairs Committee, discusses credit union history during a Meet and Greet. Thompson, a long-time credit union member, said credit unions provide a launching pad of affordable services for new and existing members. He said credit unions will be needed more than ever during the credit crunch. (Photo provided by the Pennsylvania Credit Union Association) …


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