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CU System briefs (02/27/2012)
  • SAN DIEGO (2/28/12)--A man dubbed by the Federal Bureau of Investigation (FBI) as "the well-dressed bandit" pleaded guilty on Feb. 21 to a string of holdups in San Diego area credit unions and banks (The San Diego Tribune Feb. 26). Anthony Pernelle Burgess, 30, of San Diego faces up to 20 years in prison at his sentencing, set for May 14. He pleaded guilty to three San Diego holdups in 2010 and four in 2011. One Carmel Valley bank was robbed three times, and a Solana Beach credit union was robbed twice …
  • ST. JOSEPH, Mich. (2/28/12)--Leaders from credit unions in the Greater Southwest Chapter in Michigan convened in St. Joseph, Mich., Feb. 22 with U.S. Rep. Fred Upton (R-Mich.) to discuss H.R. 3993, which would permit credit unions access to supplemental forms of capital. Participants pointed out that credit unions stand out as the only depository institutions in the U.S. without the ability to augment retained earnings to build capital. Two credit unions in Upton's district--United FCU and First Community FCU--merged failing institutions into their credit unions last year. The mergers, approved by the National Credit Union Administration, resulted in lower capital ratios at the acquiring institutions, said the Michigan Credit Union League (Michigan Monitor Feb. 27). The credit unions asked Upton to consider sponsoring HR 3993. Upton, second from left in the front row, said he appreciated the information and would take a closer look at the legislation. (Photo provided by the Michigan Credit Union League) …
  • DEWITT, Mich. (2/28/12)--Astera CU member Lee Preston, left, his son Mike Preston, and Sheila Mitchell, senior member service representative for Astera's DeWitt, Mich., branch, hold a check for the $100,000 Grand Prize Lee Preston won in Michigan credit unions' Save to Win program designed to encourage credit union members to save their money.  He was randomly selected in a computerized statewide drawing from more than 16,500 credit union members who deposited money into Save to Win accounts in 2011. Preston said he will use the money to help four grandchildren with college expenses. "You've taken a lot of worry off this old retiree," he told the credit union. He is retired from General Motors' former Fisher Body plant in Lansing. His advice for those who are not credit union members:  "I would say get involved in a credit union." As of Dec. 31, about 175 of Astera's members saved more than $300,000 at the credit union. Other Mid-Michigan area credit unions participating in the program reported these savings:  CASE CU, more than $678,725 saved by 261 members; CP FCU, more than $1.8 million saved by 731 members; EECU, more than $361,506 saved by 130 members; Lake Trust CU, more than $8 million saved by 1,821 members; and Portland FCU, more than $883,456 saved by 225 members. The program was launched in 2009 by the Michigan Credit Union League, the Filene Research Institute and the Doorways to Dreams Fund. The league also has a video of the event. (Photo provided by the Michigan Credit Union League) …
  • DEARBORN, Mich. (2/28/12)--Donald J. MacKinnon Jr., former CEO of what is now DFCU Financial in Dearborn, Mich., died Jan. 25, the Michigan Credit Union League has learned. MacKinnon was 93. He helped organize more than 100 credit unions and is a member of the Credit Union Hall of Fame in Washington. He was CEO of the then Dearborn FCU. Ken Bixby, who served as league president/CEO from 1982 to 1996, said he met MacKinnon in 1959 while Bixby was serving as an NCUA regional director. Bixby "was a hero of mine in the history of credit unions…and, a mentor in many ways even when we were in disagreement over what the law would permit." "Improved member service was at the forefront of any of his concepts," said Bixby (Michigan Monitor Feb. 27) …


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