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CU System briefs (06/13/2014)

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  • ARLINGTON, Va. (6/13/14)-- Rose Conner has been named administrator of the North Carolina Credit Union Division , a branch of the North Carolina Department of Commerce, the National Association of Credit Union Supervisors reported. Conner served as the acting administrator the previous 17 months ...
  • FAYETTEVILLE, N.C. (6/13/14)-- Fort Bragg FCU, Fayetteville, N.C., with $390 million in assets, presented a $3,000 check to Support Military Spouses, the nation's only program dedicated to collecting and distributing shoebox gifts to military spouses , the Carolinas Credit Union League reported ( In the Loop June 12). The Shoeboxes for Military Spouses event was held at the Cross Creek Mall in Fayetteville, NC. Approximately 2,000 shoeboxes were delivered to military spouses. In addition to the check, Fort Bragg FCU also donated items that were included in each box. Gifts included Bibles, personal bath items, candles, hand sanitizer, gift cards, jewelry, scarves, coffee, mugs, magazines and flashlights ...

HOPE, Habitat partnership to build 41 homes

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JACKSON, Miss. (6/13/14)--Hope Enterprise Corp. (HOPE), which works hand-in-hand with Hope FCU, Jackson, Miss., with $187 million in assets, has formed a partnership with Habitat for Humanity to build 41 affordable homes for low-income families.
HOPE used $5 million in New Markets Tax Credits (NMTC), a program managed by the U.S. Treasury CDFI Fund, to support the project. Capital One purchased the federal tax credits, which provided financial resources to purchase materials and to cover other costs associated with building the high-quality, energy-efficient homes.
"Following Hurricane Katrina, our partnership with NeighborWorks played an instrumental role in building HOPE's capacity to serve residents of the Gulf Coast" said Bill Bynum, president/CEO of HOPE and Hope FCU. "NeighborWorks investments positioned HOPE to help more than 10,000 people rebuild their homes and businesses."
The announcement was made at the construction site of the home of Ednearl Epps, a lifelong resident of Moss Point, Miss., where she and her late husband raised five children. Epps found herself in need of a new home after hurricanes, termites and mold made her existing home uninhabitable.
The announcement was also made in conjunction with NeighborWorks Week. During the week, NeighborWorks America and its network of local organizations come together to celebrate successful partnerships that bring about neighborhood change.
This is the third NMTC transaction that HOPE has structured to develop affordable homes for low-income families with a Habitat affiliate, and the second on the Gulf Coast.

La. league forms marketing council

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HARAHAN, La. (6/13/14)--The Louisiana Credit Union League has taken the first steps in forming a statewide Marketing and Business Development Council.

The inaugural advisory committee met this week in Baton Rouge to build the foundation for the council and shape the purpose, structure and goals. The inaugural committee was selected based on chapter, asset size and CUNA Marketing and Business Development Business Council participation. Members of the advisory committee are:

Members of the Louisiana Credit Union League's Marketing and Business Development Council advisory council include, from left, Kelli Green, Centric FCU, West Monroe; Emily Beatmann, Section 705 FCU, Lafayette; Jill Skaggs, Bossier FCU, Bossier City; Heather Escott, Lafayette (La.) Schools FCU; and Ashley Varnam, Louisiana FCU, LaPlace. (Louisiana Credit Union League photo)
  • Emily Beatmann, marketing coordinator, Section 705 FCU, Lafayette, with $32 million in assets;
  • Heather Escott, marketing supervisor, Lafayette (La.) Schools FCU, with $173 million in assets;
  • Kelli Green, marketing director, Centric FCU, West Monroe, with $112 million in assets;
  • Jill Skaggs, marketing and events coordinator, Bossier FCU, Bossier City, with $156 million in assets; and
  • Ashley Varnam, marketing communications specialist, Louisiana FCU, LaPlace, with $183 million in assets.

Mich. league celebrates CUs with awards at AC&E

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GRAND RAPIDS, Mich. (6/13/14)--The Michigan Credit Union League (MCUL) and the Michigan Credit Union Foundation (MCUF) named the winners of the 2014 MCUL and MCUF Awards last week during the league's Annual Convention and Exhibition ( Monitor June 10).

Award winners exemplified those credit unions and credit union professionals who made a significant contribution to the industry in Michigan over the past year.

The awards and winners were:
  • Credit Union Professional of the Year: Denise Fox, CEO, Education Plus CU, Monroe, with $94 million in assets;
  • Outstanding Credit Union of the Year: Frankenmuth (Mich.) CU, with $306 million in assets;
  • Distinguished Service Award: Hank Hubbard, CEO, Communicating Arts CU, Detroit, with $33 million in assets;
  • MCUL Chapter Effectiveness Award: Blue Ox Chapter;
  • Young Professional of the Year: Nick Montie, CEO, Thunder Bay Area CU, Alpena, with $22 million in assets;
  • Credit Union Advocate of the Year: Sheryl Hogle, HarborLight CU, Whitehall, with $94 million in assets;
  • Excellence in Consumer Education: Kathy Cypher, Frankenmuth CU;
  • MCUF Credit Union Community Volunteer Award: Heather Luciani, Marshall (Mich.) Community CU, with $155 million in assets; and
  • MCUF International Credit Union Development Award: Frankenmuth CU.
To see a summary of the work done by each of these credit unions and credit unions professionals, use the resource link.

eMarketer: Hispanic millennials show increased buying power

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MADISON, Wis. (6/13/14)--Numbering 21 million, Hispanic-Americans make up about 21% of the millennial population; certainly a demographic with buying power, and one credit unions must focus on to remain competitive in the market.

A report by eMarketer, a digital marketing research firm, recently dug into just how much buying power Hispanic millennials in the United States have.

Apparently, they carry more than previous generations of Hispanic-Americans, according to Stephen Amendt, digital service manager at EC Hispanic Media.

"Their buying power often surpasses that of older Hispanic adults," Amendt said. "We see that reflected in the different ads that they view--especially in the automotive sector. We see them interested in buying newer cars than their parents are interested in."

But it's not only older generations who Hispanic millennials outspend. Despite earning less than non-Hispanic whites on average, Hispanic millennials spend 10% more.

That trend may only increase, as Hispanics now pursue higher education at a faster clip than non-Hispanic whites, with 49% of Hispanics enrolled in higher education compared with 47.2% of non-Hispanic whites.

Other findings in the report that credit unions should note, meanwhile, were that Hispanics have taken to mobile technology just as much as other demographics.

The reason? Privacy, and independence.

"There's often one computer at home shared by the entire family," said Nancy Tellet, senior vice president of research and consumer insights at Viacom's Tr3s Digital. "They don't want to wait in line to get on the computer. And privacy, you don't want someone else to see what you're doing. If it's a shared computer, that's hard to avoid. To them, smartphones are a form of digital independence."

And with those mobile devices, Hispanic millennials are participating in social media networks at a high rate as well. Nearly 85% of Hispanic Internet users between the age of 18 and 29 use Facebook, Twitter or some other social networking site.

This trend is especially apparent when comparing social media activity during award shows, which often attract high rates of social media use.

"You can't compare the number of tweets from the Academy Awards to the Latin Grammys because the audiences are different, but if you divide tweets by audience, our viewers are significantly more prone to tweeting than non-Hispanics," said Roberto Ruiz, senior vice president of Univision Communications.

P.F. Chang's looking into data breach claim

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LONDON (6/13/14)--The popular Chinese food restaurant chain P.F. Chang's China Bistro announced this week it has launched an investigation into claims of a data breach involving debit and credit card information stolen from its restaurant locations in the United States ( June 10).

Card information posted on an underground website was discovered Monday, with the common tie that the cards had all been used at a P.F. Chang's sometime between March and May, according to , a computer security and cybercrime watchdog.

"P.F. Chang's takes these matters very seriously and is currently investigating the situation, working with the authorities to learn more," said Anne Deanovic, a spokeswoman for the restaurant chain ( .

Owned by the private equity firm Centerbridge Partners, P.F. Chang's operates 211 restaurants throughout the country.

The Credit Union National Association continues to ask lawmakers to develop legislation that would ramp up data security standards for merchants, who aren't obligated to meet the same criteria as credit unions and other financial institutions.

CU SacTown Ten-Mile Run raises more than $200K

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SACRAMENTO, Calif. (6/13/14)--With assistance from a CO-OP Miracle Match to $30 million-asset Diablo Valley FCU, Concord, Calif., the 2014 Credit Union SacTown Ten-Mile Run raised more than $200,000 for Children's Miracle Network Hospitals, the California and Nevada Credit Union Leagues reported Thursday.

CO-OP Miracle Match is a matching program from CO-OP Financial Services that helps credit unions maximize their fundraisers.

The $25,000 Miracle Match funds will be distributed to these Children's Miracle Network hospitals: 
  • Children's Hospital of Central California, Fresno, Calif.;
  • Rady Children's Hospital, San Diego;
  • Renown Children's Hospital, Reno, Nev.;
  • Children's Hospital Orange County, Orange, Calif;
  • UC Davis Children's Hospital;
  • Children's Hospital Los Angeles; and
  • UCSF Benioff Children's Hospital, Oakland.
"Many thanks to CO-OP for this wonderful program that will help sick or injured children have access to the resources they need for healing," said Diablo Valley FCU CEO John Pamer. "More than $171,000 of the money raised in this year's event will go to Children's Miracle Network hospitals--and this was only our third year."
The "SacTown" race--which took place April 6 in downtown Sacramento, Calif.--was sponsored by CU Miracle Day Inc., along with 55 credit unions and credit union businesses, including the California and Nevada Credit Union Leagues.
The race--which includes a three-person relay and other lively festivities, and is also designed to increase national awareness of credit unions--took place the same day as the 41st Annual Credit Union Cherry Blossom Ten-Mile Run in Washington, D.C., followed by the Credit Union Freedom Runs for troops overseas. Combined, the "Family of Races" raised $487,000 for CMN Hospitals across the country.
More than 1,200 runners--including more than 500 credit union employees and members--participated in the race, which started and finished in front of the state Capitol building, with a $15,000-prize purse awarded. About 170 credit union staff and members worked the event as volunteers.

Launched in 2008, CO-OP's Miracle Match Program is a philanthropic matching program that encourages credit unions, chapters and leagues to create and participate in local CMNH fundraisers. In 2013, the program---along with 154 participating credit unions--helped raised more than $3 million for 98 Children's Miracle Network Hospitals in 34 states.

CUNA Volunteer Network offers special 18-month membership

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MADISON, Wis. (6/13/14)--The Credit Union National Association announced a limited-time offer: Any new CUNA Volunteer Network membership purchased for 2015 will also include free membership for the rest of 2014.
"This special offer will be a huge benefit to volunteers across the movement who want to get more involved in their roles immediately," said Kevin Smith, CUNA director of learning events. "Especially those who take full advantage of the opportunity by acting fast and extending their one-year membership to a full 18 months."
CUNA Volunteer Network is a nationwide professional organization designed to keep credit union volunteers informed, involved and connected. Membership provides credit union boards, supervisory committees and CEOs with the opportunities to:
  • Interact with fellow leaders and volunteers anytime and from anywhere;
  • Demonstrate accountability with the Certified Credit Union Volunteer (CCUV) designation;
  • Access exclusive white papers, case studies and digital publications;
  • Receive discounts on CUNA training and events; and
  • Participate in CUNA Training-on-Demand volunteer courses.
"This is really a case where everybody wins," said Smith. "For the duration of the offer, every new member will receive extra months of access while furthering the reach and effectiveness of the network as a whole."