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CU System briefs (02/14/2012)
  • COLUMBUS, Ohio (2/15/12)--Three credit union executives from Northeast Ohio traveled to Capitol Hill in Washington, D.C.,  last week to encourage lawmakers to back legislation that would enable credit unions to do more member business lending (MBL), according to Crain's Cleveland  (Feb. 13). They were accompanied by representatives from small businesses and discussed raising the MBL cap to 27.5% from 12.25% to provide more business lending to small businesses when they need it the most. The current cap deters credit unions from seriously pursuing MBL activities, the group said. In the article, Paul Snyder, vice president for marketing at CSE FCU, Canton, told lawmakers it is building a fourth branch but not expanding its MBL or related staff because of the cap.  The Ohio Credit Union League was quoted in the article saying a handful of credit unions in the state are close to bumping the current cap.  The Credit Union National Association and credit unions are urging Congress to raise the cap so credit unions can inject $13 billion in loans into the economy and create 140,000 new jobs, at no expense to the taxpayer …
  • LEXINGTON, Ky. (2/15/12)--The Lexington, Ky.-based University of Kentucky FCU's  (UK FCU) "Lipstick on a Bank" campaign, with the slogan, "You can put lipstick on a bank, but it's still a bank," is attracting attention. To get across the message that UK FCU is a better value than a bank and that consumers can kiss bank fees goodbye, the campaign uses bright pink lipstick marks on  billboards around the city, in-branch signage, post cards, and buttons for sales staff. It also gives away Chapstick and has a microsite, www.lipstickonabank.com. Since the campaign began at the beginning of the year, the site has had more than 2,600 unique visitors …
  • SOUTH BURLINGTON, Vt. (2/15/12)--NorthCountry FCU, based in South Burlington, Vt., has selected its executive vice president, Bob Morgan, to succeed John Benoit as CEO, announced Kathy Sweeten, chair of the credit union's board of directors. Benoit, who  will retire after 30 years at the credit union, will officially step down in March but will retain the title of president through the completion of several large projects this year, said the Association of Vermont Credit Unions (Newslines Express Feb. 10). His official departure date has not been determined. Under his leadership, the credit union grew from $6 million in assets to more than $350 million, with six branches serving members. Morgan has worked with the credit union since 2000. He serves on the Association of Vermont Credit Unions' board of directors, where he has chaired the Social Responsibility Committee since 2006  …


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