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CU System briefs (02/11/2014)
  • PORTSMOUTH (2/11/14)-- Peter Kavalauskas, president/CEO of $918 million-asset Northeast CU, Portsmouth, N.H., died as the result of a snowmobiling accident early Saturday morning. Police say Kavalauskas, 62, was snowmobiling with his son and friends when he lost control and crashed near Washington, N.H. ( Seacoastonline.com Feb. 9). He was pronounced dead at the scene. Kavalauskas and Northeast CU had announced that Thursday he was retiring as president/CEO after 35 years of service. He was a former member of the Association of Vermont Credit Union's (then Vermont Credit Union League) board of directors while employed by the former Windsor-Orange CU in White River Junction before joining Northeast CU in 1978. "The thoughts and prayers of our Vermont credit union family go out to Peter's family and Northeast CU," said Joe Bergeron, president/CEO of the Association of Vermont Credit Unions ...
  • WASHINGTON (2/11/14)-- The U.S. Treasury Department's Community Development Financial Institutions Fund (CDFI Fund)  announced that the 2014 National Interagency Community Reinvestment Conference will be March 30-April 2 at the Hyatt Regency in Chicago, Ill.  The CDFI Fund, an event co-sponsor, said the program will feature innovations in community development policy and practice, Community Reinvestment Act--CRA--examination training, the National Community Development Lending School, and community development tours of Chicago. Participants must register by March 14 ...
  • MADISON, Wis. (2/11/14)- -A new book, "Development of the Modern U.S. Credit Union Movement 1970-2010," explores the transformation of many American credit unions from small, limited service institutions run largely by volunteers to today's full-service, professionally staffed institutions serving more than 98.9 million members.  Author Paul Thompson won the 2013 Individual Achievement Award of the Credit Union Development Education Program of the National Credit Union Foundation for his work on the book. He is a journalist and student of credit union history. He served as speechwriter for the leadership of the Credit Union National Association from 1986 to 1998. The 379-page book chronicles the factors that have moved credit unions into the mainstream of American life ...
  • WASHINGTON (2/11/14)-- The Consumer Financial Protection Bureau will convene a Small Business Review Panel, as required by the Small Business Regulatory Enforcement Fairness Act . Specifically, the CPPB will use the panel to seek early feedback from small lenders, including feedback on how data can be updated to better reflect what is happening in the market. While this information would be reported to regulators, not all of it would be disclosed in the public Home Mortgage Disclosure Act dataset. Potential changes under consideration by the CFPB include improvements required by Dodd-Frank; new developments in the market; monitoring access to credit. A factsheet about the changes the CFPB is considering is on its website ...
  • POCATELLO, Idaho (2/11/14)-- Idaho State University CU, with $140 million in assets, Pocatello, Idaho, donated $7,000 to the university's cheer team to replace the team's mats. The team previously practiced on an area that only covered two-thirds of a competition-sized area, making routines difficult. The old mats also were heavy and difficult to move. The new mats will be used at basketball games and for performances and competitions. ISU CU is the first credit union in the U.S. to have its logo featured on cheer mats of this type ( Idaho State Journal Feb. 9) ...
  • HELENA, Mont. (2/11/14)-- Ranel Smith, director of education services at the Montana Credit Union Network, recently completed the requirements and testing to become a certified meeting professional (CMP), becoming only the fifth person in Montana to hold the certification. Smith, a Great Falls native, has worked in the credit union industry for more than two decades. She started at MCUN in 2004 and previously worked at $88 million asset Embark CU, Great Falls, Mont. Smith also assists the Credit Union Association of Dakotas with its conference planning ...


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