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CU System
CU System briefs (09/26/2008)
* FAIRBORN, Ohio (9/29/08)--Wright-Patt CU's eight-month Savings Race begins Wednesday. The race involves five families, chosen from more than 80 member applicants. They who will work with credit union coaching teams to improve their spending and savings habits, and work toward a family-specific goal to increase savings and net worth, and reduce debt. The family closest to its goal will be awarded $10,000 upon completion of the race in May 2009. The four runner-up families will receive $2,000 each. The race was designed to benefit not only the participants, but the entire Miami Valley, said Doug Fecher, president/CEO. The event will get people to talk about their finances, he said. Community members can follow the families' progress and initiate their own savings plan by viewing blogs, Web updates and local news vignettes, and by attending free credit union financial planning courses along side the race participants … * SPRINGFIELD, Ohio (9/29/08)--The husband of Carol Aranjo--former CEO of the defunct D. Edward Wells CU who was convicted of embezzling $1.5 million from the credit union--was sentenced Thursday to one year and one day in prison for his part in the embezzlements (Associated Press Newswires Sept 25). His sentence came a few hours after Aranjo was sentenced to 4.5 years in prison and ordered to pay restitution of $1.4 million (News Now Sept. 25). Smith was convicted on 10 charges and acquitted on others. The credit union was closed by federal regulators in 2003 … * DULUTH, Ga. (9/29/08)--The annual golf tournament to benefit the Georgia Credit Union Foundation netted $40,000 for Brenden Welch, vice president and general manager of Jones Lang LaSalle Americas Inc., a real estate firm, when he sank a hole in one on his first try. Welch was teamed with Jeanne Kucey, president of Retail Employees CU and vice chair of the foundation. Welch had the choice of a new Lexus GS3000, provided by Enterprise Car Sales, or the cash. He opted for the cash. From left are Welch, holding son Luke, age 1, and wife Sheri, holding son Nicholas, age 5. Welch sank the drive on Luke's one-year birthday, using a golf ball onto which he had written "Nicholas' dad." (Photo provided by the Georgia Credit Union Affiliates) …


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