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Australian CUs have experienced strong growth in retail deposits at the expense of their regional banking rivals. http://ow.ly/goIE
Yakima Valley CUs have benefited from larger banks troubles as membership, deposit growth, and overall presence expand. http://ow.ly/goHD
Florida Central CU names CUNA board member Laida Garcia as president, CEO. Garcia succeeds the late Ed Gallagly. See http://ow.ly/gnw7
WesCorp detailed cost-saving initiatives-- including roughly 90 layoffs--that aim to roll back expenses to 2003 levels. See July 6 NN.
Wash. State CUs have seen a 313% mortgage loan increase over the last 10 years, with lower car loan, savings deposit increases. See Mon. NN.
Michigan governor signs financial ed law
LANSING, Mich. (1/6/09)--Michigan Gov. Jennifer Granholm has signed into law a Michigan Credit Union League (MCUL)-supported bill that would allow a financial education course to satisfy part of the state's high school math requirements.
Senate Bill 834, now Public Act 316 of 2008, was signed into law Dec. 17. It was introduced in October 2007 by State Sen. Michael Switalski (D-Roseville), said MCUL.
"This amendment to the Michigan high school math curriculum demonstrates how lawmakers and schools are recognizing the increasing importance of financial education," said Patrick La Pine, league executive vice president, in the league's newsletter (Michigan Monitor Jan. 5).
"Financial literacy is an integral part of the credit union social mission, and the introduction and approval of this bill has been a priority of the MCUL. To see it signed into law with strong support is encouraging and serves as a significant step toward teaching students the money management skills that will serve them their whole lives," La Pine told the publication.
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