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CU System briefs (08/14/2009)
*ALBANY, N.Y. (8/17/09)--The Credit Union Association of New York's annual auction has raised nearly $7,000 for political advocacy. More than 300 credit union people surveyed more than 70 items up for bid, including iPods, jewelry, elaborate baskets and tickets to sporting events. Hot items at the event were orchestra tickets to see "West Side Story" on Broadway and a painting of a lighthouse on the Hudson River. "Charitable events like this auction are a great way to raise political awareness among credit unions," said Cheryl Frantzen, the association's political action coordinator. In the photo, Mario Shortino, board member from Teachers FCU, Farmingville, takes time out from the evening's festivities to bid on one of the items.(Photo provided by the Credit Union Association of New York) … * RIVERTON, Utah (8/17/09)--Even robbers can be impressed with a credit union's services. A man with manners and a semi-automatic handgun in the waistband of his pants robbed a Riverton branch of Sandy, Utah-based Jordan FCU Wednesday, thanking tellers as he took their money. The robbery occurred at about 3:30 p.m. Wednesday. He walked into the $194 million asset credit union, told everyone not to panic and approached two tellers. After he took the money, he thanked the tellers for "doing a good job." The Salt Lake County Sheriff's Office believes he fled on foot (Deseret News Aug. 13) … * REDWOOD CITY, Calif. (8/17/09)--A San Mateo, Calif. bride-to-be spent what would have been her wedding night in jail after being charged with stealing $35,000 from San Mateo CU to finance her wedding. Briana Nicole Balancier, 26, pleaded no contest Tuesday to forgery, grand theft and commercial burglary in exchange for avoiding a state prison sentence, said a prosecutor. She faces up to nine months in county jail, but may get a reduced sentence if she pays back the money before her Oct. 9 sentencing. In March she deposited a check for $35,000 drawn from her day care business into her credit union account. A few days later she tried to withdraw some funds, and the credit union told her there was an 11-day hold while the check cleared. That same day, Balancier wrote a phony letter from a bank, saying the check was good. and faxed it to the credit union. During the next two days she withdrew $20,000 to cover wedding expenses. When the check bounced, officials called the police. She was arrested March 19, two days before the wedding date (InsideBayArea.com Aug. 12 and CBS News Aug. 13) … * WILLISTON, Vt. (8/17/09)--New England FCU (NEFCU) CEO David T Bard will retire, effective
. in January, announced Geoff Akiki, board chair of the $740 million asset credit union based in Williston, Vt. Bard will be succeeded by NEFCU President/Chief Operating Officer (COO) John J. Dwyer Jr. Bard has been CEO since 1986, when the credit union employed 30 people in a single branch, had $48 million in assets and less than $10 million in serviced first mortgages. Today NEFCU has 170 employees in six counties with seven branches, has surpassed $740 million in assets, and has more than $1 billion in serviced mortgages, making it one of the . It is one of the top 50 credit unions in the U.S. for first mortgage balances. At the end of 2008 NEFCU enjoyed a capital-to-assets ratio in excess of 10%. As part of a carefully planned transition, Dwyer, who has been with NEFCU since 1987, became president/COO in 2006. He has held a variety of positions of increasing responsibility at NEFCU. Prior to that he was a certified public accountant with KPMG in Boston …


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