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CU System briefs (03/25/2014)
  • LIVONIA, Mich. (3/25/14)-- Credit union tax status and international wire transfers were two of the topics discussed during a visit by U.S. Rep. Tim Walberg (R-Tipton) to LAFCU , Lansing, Mich. Walberg, left, spoke with employees of the $560 million-asset credit union and representatives of the Michigan Credit Union League. According to the league's March 24 Monitor , Walberg noted that his daughter, who is a missionary in Uganda, depends on wire transfers. The increased regulatory burden on wire transfers has prompted some credit unions to stop providing the service to their members. The group also thanked Walberg for his support of the federal credit union tax exemption. (Michigan Credit Union League photo) ...
  • BELFAIR, Wash. (3/25/14)-- U.S. Rep. Derek Kilmer (D-Port Angeles ) was a key proponent of getting prize-linked savings program legislation passed into law while a Washington state representative. On March 31, Kilmer will be at the Belfair branch of Peninsula Community FCU, $147 million in assets, when it launches its "Save to Win" program. The Shelton, Wash.-based credit union is the seventh in the state to offer prize-linked savings, where members receive chances to win prizes for making deposits in their savings accounts ...
  • APPLETON, Wis. (3/25/14)-- Two Wisconsin credit unions--Capital CU, $469 million, Kimberly, and Pioneer CU, $609 million, Green Bay, will merge in July. Operating under the name Capital CU, the credit union serve nearly 90,000 members in Wisconsin. None of its 360 employees will be laid off, and no branches will be closed ( Post-Crescent March 23). Together, the new credit union will have 24 branches in the Fox Cities and Green Bay markets. According to Tom Young, president, Pioneer CU, the credit unions will install a new data-processing system. "We're probably saving $2 million because we're buying one system vs. each of us buying our own," he noted ...
  • HARRISBURG, Pa. (3/25/14)-- Grace F. Meighen, founding member of Washington (Pa.) Area Teachers FCU, died March 18 ( Life is a Highway March 21). She was 94. Meighen was a longtime manager and board member of the $60 million-asset credit union. Washington Area Teachers FCU was chartered in 1959 by a group of 10 school employees with $5.25 each ...


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