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CU System
CU System briefs (10/13/2009)
* HARRISBURG, Pa. (10/14/09)--Pennsylvania Gov. Ed Rendell signed the state budget Friday night. The $27.8 billion plan ends a 101-day state budget stalemate that prompted credit unions to offer special assistance programs to their members affected by the impasse. The plan is more than $500 million less than last year's $28.3 billion budget. A key provision involving table games legislation is expected to pass this week, said the Pennsylvania Credit Union Association (Life is a Highway Oct. 13) … * WESTBORO, Mass. (10/14/09)--Tina M. Sbrega has been appointed to the Massachusetts Credit Union Share Insurance Corp. board of directors (Telegram.com Oct. 11). Sbrega is president/ CEO of GFA FCU, a $298 million asset credit union based in Gardner. It has eight branch offices. Sbrega also is a trustee for Mount Wachusett Community College and Heywood Hospital, both based in Gardner … * PHOENIX (10/14/09)--Desert Schools FCU and Phoenix police are seeking the public's help in identifying a man who is running scams against financial institutions and businesses in the area. The $3.346 billion asset credit union said Monday a man has entered three of its branches asking to exchange $20 bills for larger denominations in multiple transactions. He then claims he was short-changed and tries to get that money from the tellers. He has hit two branches in Mesa and one in west Phoenix. (Phoenix Business Journal and abc15.com Oct. 12) … * SYRACUSE, N.Y. and ROCHESTER, N.Y. (10/14/09)--Syracuse (N.Y.) FCU said its members voted Oct. 7 to merge with Summit FCU, Rochester, N.Y. On April 1, the credit unions will do business under the name of The Summit--which will have 80,000 members, 18 locations and $625 million in assets (The Post-Standard Oct. 10) … * TAMPA, Fla. (10/14/09)--Invest Financial Corp.--a full-service broker-dealer based in Tampa--appointed former CUNA Mutual Group executive Steve Dowden to be Invest’s new president/CEO. Dowden succeeds Lynn Niedermeier who retired in July. Dowden was senior vice president of distribution and president/CEO of CUNA Brokerage Services, quarterbacking a sales force of 550 advisers and responsible for all sales in CUNA Brokerage’s asset accumulation division (Tampa Bay Business Journal Oct. 12) …


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