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CU System briefs (09/25/2009)
* MONTPELIER, Vt. (9/28/09)--Steven D. Post, CEO of Vermont State Employees CU (VSECU), a $472 million asset, Montpelier, Vt.-based credit union, was profiled in the September issue of Vermont Business People magazine. When Post replaced retiring General Manager Clyde Coffrin Jr. in the early 1990s, the credit union had roughly $80 million in assets, 20 employees and about 16,000 members. Today VSECU has 45,000 members and employs more than 130 people. “The purpose of the credit union is to have it run for the benefit of its members, not for stockholders or making profits,” said Joe Bergeron, president of the Association of Vermont Credit Unions, who also was interviewed. “[Post] just naturally has that in front of his mind at all times” … * DURHAM (9/28/09)--Latino Community CU, Durham, N.C., has launched its first annual essay writing and photo contest that emphasizes savings. The contest is offered in three age categories: 13-14, 15-16, and 17-18 ( Sept. 16). The credit union will award $1,000 to first place winners, $500 to second place winners and $250 to third place winners. The money, made possible through a grant from the National Credit Union Foundation, will be given to winners in 24-month share certificates. Submitted photos and essays will be displayed in the credit union’s branches and published online. Latino Community CU said it hopes the contests will raise awareness about the importance of building wealth. The credit union has $75 million in assets ... * VANCOUVER, B.C. (9/28/09)--The merger of two Canadian credit unions will result in the third largest credit union in British Columbia (Vancouver Sun Sept. 23). Envision Financial and Valley First CU announced the members approved the merger. The combined credit union--which will have $5.6 billion in assets, 167,000 members and 1,250 employees--will be known as First West CU. The merger will take effect Jan. 1. Evision President/CEO Gord Huston will be First West's CEO during the transition, while Valley First President/CEO Harley Biddlecomb has been appointed special adviser … * PORTLAND, Ore. (9/28/09)--A paroled credit union robber was sentenced in a federal court Wednesday to 115 months (more than nine years) in prison for a string of credit union robberies in Eugene, Ore., and the Portland area. Marc Timothy Rzegocki also was sentenced to three years of supervised release and ordered to pay $23,124 in restitution to the credit unions (Targeted News Service Sept. 23). When the eight robberies at six credit unions occurred between June 27, 2007 and Aug. 20, 2007, he was out on parole from a sentence related to two unarmed robberies stemming from nine credit union robberies in 1986. The new sentence will run concurrently with a parole revocation sentence on the earlier charges …


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