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CU System briefs (03/30/2012)
  • DES MOINES, Iowa (4/2/12)--A Des Moines-based credit union wired $14,000 to an account in Australia to help out a member who wanted to pay for funeral expenses for a nephew and had requested the wire transfer. However, the request was bogus. A crook had hacked into the member's e-mail account and sent the request via e-mail to the credit union. Financial Plus CU has reimbursed the member's account and is trying to recover the funds that went overseas, police said. The member's nephew is alive and does not live in Australia (Des Moines Register and CBS 2 March 30) …
  • EL PASO, Texas (4/2/12)--El Paso Mayor John Cook is the latest Texas city official to sign an "International Year of Cooperatives" proclamation, signifying the critical role played in the community by nine Texas credit unions making up the El Paso Chapter of Credit Unions. Pictured are credit union representatives who attended the signing ceremony Tuesday.  "Credit unions are among the most recognizable and widely embraced cooperative businesses in Texas," said Texas Credit Union League President/CEO Dick Ensweiler. He noted the proclamations help the public understand that by joining a credit union, they are actually earning money.  El Paso joins Corpus Christi, Del Rio, Fort Worth, Galveston, Houston, Kingsville, Tyler and other communities that have made proclamations that stress the opportunities that cooperatives provide for local economic development and people from a variety of socioeconomic backgrounds (LoneStar Leaguer March 30). (Photo provided by the Texas Credit Union League) …
  • WYOMISSING, Pa. (4/2/12)--Utilities Employees CU (UECU), a credit union serving the energy and utility industry nationwide, has passed the $1 billion asset range, the Wyomissing, Pa.-based credit union announced Friday. UECU is a virtual credit union that provides financial services to employees for 600 utility companies and their families. The milestone makes the credit union one of the 200 largest credit unions in the U.S. in terms of asset size. "Our operating expenses are consistently less than half those of the typical credit union our size," said Glen A. Yeager, president/CEO at UECU. "We have developed a virtual business strategy that allows us to run efficiently and return profits to our members, while providing a superior level of personal service," he added. For more than 75 years, UECU has operated without a branch system, initially handling its long-distance transactions by mail. Today members can manage their accounts 24 hours a day through its online home banking system and other electronic services, or by phone …


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