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CU System briefs (11/14/2011)
  • LANCASTER, S.C. (11/15/11)--Founders FCU, based in Lancaster, S.C., announced last week it will return $10 million to its members in dividends.  Members will receive an average $100 in their savings account on Nov. 30, with the amount depending on the members' account balances as of Oct. 31 (Associated Press Newswires Nov. 11).  The dividend is to thank members who have struggled during the economic downturn, said President/CEO Bruce Brumfield, saying that members need the money more than the credit union does now (Charlotte  Observer Nov. 11).  The credit union is paying the dividend because its financials are $6 million better than budgeted.  Also, the credit union's board decided to give its 490 full-time employees a $1,300 one-time bonus. Part-time employees received $650.  The member dividend marks the fifth time in 11 years that members have received a dividend. This year's was the largest …
  • TRENTON, N.J.  (11/15/11)--City of Trenton Employees CU President David G. Tallone, who is also president of AFSCME Local 2286, was charged Thursday with fraudulently obtaining $51,000 in city contracts by using impersonation and forgery ( Nov. 11). He allegedly used his sister's name on contracts to provide food for city and election campaigning events on at least five occasions between April 2007 and May 2011, according to the charges. The Faulkner Act prohibits city employees from contracting with the city to provide goods and services. He faces up to five years in prison and a $15,000 fine for each charge …
  • NAPERVILLE, Ill. (11/15/11)--The Illinois Real Solutions program conducted its secondin-person meeting for the year for its credit union partners to update credit unions on a number of products and services it offers in the realm of youth financial education, credit counseling and other areas. Attendees heard about and tried out a smaller-scale version of a reality fair that can be conducted in a classroom in about 45 minutes.  They also learned about free tools on website for financial counseling through and learned about, a budgeting program for kids ages five through 16 and, an online budgeting tool. Shown here discussing the student loan programs they offer are, from left: Greg Anderson, senior vice president/chief operating officer of University of Illinois Employees CU, Champaign; Lisa Anderson, Great Lakes CU, North Chicago; and Matt Hancock, consumer and business lending manager, Motorola Employees CU, Schaumburg.  (Photo provided by the Illinois Credit Union League) …
  • ALBANY, N.Y.  (11/15/11)--The Credit Union Association of New York's CEO/Manager Roundtable in Syracuse, N.Y., for credit unions with assets up to $50 million, attracted 40 credit unions. The event focused on compliance, social media strategies and lending. George Towle, partner with The Rochdale Group Inc., spoke about issues important to CEOs and the future of their credit unions.  John Bricker, sales executive with CUNA Mutual Group, discussed  CUNA Mutual's strategic direction and initiatives to help smaller credit unions grow and thrive. Other updates included were provided by New York Credit Union Foundation Executive Director Diane LaVigna-Wixted; Jessica Herishko from Columbia Greene FCU about the association's Young Professional Commission;  Jackie Carlson of Alloya Corporate FCU; and CUANY's director of compliance, Michael Carter, who discussed vendor due diligence and online member authentication rules.  (Photo provided by the Credit Union Association of New York) …


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