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CU System briefs (08/31/2012)
  • WACO, Texas (9/4/12)--A former church treasurer whose hay operation encountered financial difficulties worsened by recent droughts was placed on deferred felony probation Wednesday for allegedly stealing $66,000 from the church and improperly selling more than $40,000 in tractors and other equipment he had used to secure loans at a credit union. The deferred probation places Michael Lynn Hooper, 64, of Robinson, Texas, under court supervision for five years. He also was ordered to pay restitution of $16,000 to Bethel Methodist Church of Robinson and $42,000 to Educators CU, Waco. Hooper had already paid back $50,000 to the church before pleading guilty to felony theft and hindering secured creditors. In deferred probation cases, there is no final judgment of guilt if the defendant completes the probation  (Waco Herald-Tribune Aug. 30) …
  • DES MOINES, Iowa (9/4/12)--A credit union in Des Moines, Iowa, was robbed Wednesday for the second time within a month. Employees at the $40 million asset Edco Community CU told Des Moines police that a man entered the credit union before 10 a.m. and demanded money. He escaped with an undisclosed amount. On Aug. 1, a man entered the credit union and produced a note demanding money to the teller. He, too, left with an undisclosed amount, said police. Police have released surveillance images from both robberies (Des Moines Register Aug. 30) …
  • DALLAS (9/4/12)--Dallas-based Neighborhood CU dropped by long-time member Laura Dawson's home in Grand Prairie with a big surprise--an oversized check for $10,000, a reward for saving money.  "Holy Macanoli! How did this happen?" said the shocked Dawson.  Neighborhood CEO Chet Kimmell and Senior Vice President Carolyn Jordan explained she was the big quarterly Prize Savings Account winner. The credit union created the account to encourage members to save money and plan for their future by rewarding good savings habits with drawings on a monthly ($1,000), quarterly ($10,000) and annual ($25,000) basis. Dawson's name was drawn from among all Prize Savings Account holders. Members receive one drawing entry for every $25 monthly average balance in their account. Dawson and her husband, William, have been members of the credit union for 37 years (LoneStar Leaguer Aug. 31) …
  • HIGHTSTOWN, N.J. (9/4/12)--Two key staffers of U.S. Sen. Robert Menendez (D-N.J.) Thursday met with New Jersey credit union advocates who pressed the case for member business lending (MBL) reform, said the New Jersey Credit Union League (The Daily Exchange Aug. 31). Legislative Counsel Michael Passante and Constituent Outreach Coordinator Catherine Best visited the league offices for an update of credit union concerns. The league and the advocates have met a number of times with Passante during Hike-the-Hill visits. The Credit Union National Association, leagues and credit unions are urging Congress to pass legislation that would raise credit unions' MBL cap to 27.5% of assets from 12.25%. Doing so would inject $13 billion into the economy through new small business loans and contribute to the creation of 140,000 new jobs, all without costing taxpayers a dime. "We are at a critical juncture when it comes to MBL reform," said league President/CEO Paul Gentile. "A vote could come at any time after Congress returns from its August recess. It's extremely important we keep up the pressure." From left: Chris Abeel, league director of governmental affairs; Eddie Daniels, CEO, Newark Board of Education Employees CU; Lourdes Cortez, president/CEO, North Jersey FCU; Andy Jaeger, president/CEO of Credit Union of New Jersey and CULAC trustee; Lou Vetere, president/CE, Garden Savings FCU and league chairman; Gentile; Passante; Mark Sovelove, senior vice president, lending, and David Bell, MBL loan officer, Financial Resources FCU; and Linda McFadden, president/CEO, XCEL FCU and league board member. (Photo provided by the New Jersey Credit Union League) …


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