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CU System briefs (02/28/2012)
  • SUITLAND, Md. (2/29/12)--Andrews FCU joined with the Armed Forces Financial Network to donate $3,000 in gift cards and then donated an additional $3,000 in gift cards from the credit union to Joint Base Andrews Fisher House. Chris McDonald, left, Andrews FCU president/CEO,  presented the donation to Janet Grampp, Fisher House director; and Walt Serafin, Fisher House board president. Wounded soldiers and their families use Fisher House as a home away from home during medical treatment. The gift cards are used to pay for travel costs as well as the necessities of daily living  (Photo provided by Andrews FCU) …
  • RALEIGH, N.C. (2/29/12)--Students and parents in every county of North Carolina got help completing the Free Application for Federal Student Aid (FAFSA) on Feb. 18 through a partnership among State Employees' CU (SECU), the College Foundation of North Carolina and the North Carolina Association of Student Financial Aid Administrators. SECU opened its 240 branches statewide from 9 a.m. to noon for the FAFSA Day event, with employees and volunteers helping more than 2,100 students complete the FAFSA application that is required for college aid. Statewide, 4,700 FAFSA applications were completed. SECU employees also helped 3,700 high school students complete college applications during North Carolina College Applications Week last November …
  • LANSING, Mich. (2/29/12)--The Michigan Credit Union League (MCUL) & Affiliates recently hosted U.S. Rep. Bill Huizenga (R-Mich.), a member of the House Financial Services Committee, for a discussion of H.R. 1418, which would increase the member business lending (MBL) cap. Huizenga (left), met with MCUL President George Isola and MCUL CEO David Adams as well as other credit union leaders, who cited the importance of increasing access to capital for Michigan small businesses (Michigan Monitor Feb. 27). Huizenga is not currently a co-sponsor of the bill, which lists eight members of Michigan's congressional delegation among its 130 co-sponsors, said the league. The Credit Union National Association (CUNA) says that increasing the MBL limit to 27.5% of assets from the current 12.25% would help generate $13 billion for new small business loans and 140,000 new jobs, with no cost to the taxpayer.  H.R. 3993, which would give credit unions access to supplemental forms of capital, was also discussed. It would allow credit unions to raise capital from sources other than retained earnings, while maintaining their 'one member, one vote' principle and improving their safety and soundness, said CUNA . (Photo provided by the Michigan Credit Union League) ...
  • WOODBRIDGE, Va. (2/29/12)--Belvoir FCU offered a 10% annual percentage yield (APY) certificate to active duty military members for the second year as part of the Military Saves program from Feb. 21-25. More than 24 servicemen and women took advantage of the high-earning certificate offered by the Woodbridge, Va.-based Belvoir FCU as a way to thank active duty military for their service. Military Saves is part of the America Saves program and aims to encourage military families to build wealth by saving more and borrowing less. America Saves Week was Feb. 19-26  …


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