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CU System briefs (05/28/2009)
* SAN FRANCISCO (5/29/09)--Scott Waite, senior vice president and chief financial officer at the San Francisco-based Patelco CU, has accepted an invitation to join the Financial Accounting Standards Board's (FASB) and International Accounting Standard Board's (IASB) Financial Instruments Resource Group. The group, comprising 10 individuals from the U.S. and 10 from the international community, will be an informal channel for feedback to staff on ideas related to a project on financial instruments: improvements to recognition and measurement. Waite has worked with FASB and its Small Business Advisory Committee (SBAC) since 2003. "The objective of this new international group is to significantly improve the decision usefulness of financial instrument reporting to users of financial statements. I think it's incredible to have U.S. credit unions represented in this group of 20 individuals," Waite told News Now … *
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HANSCOM AFB, Mass. (5/29/09)--Hanscom FCU contributed to the success of the Massachusetts Credit Union League's 2009 statewide children's book drive. The credit union collected 2,139 books for the drive. This year 41 participating credit unions collected and donated 19,241 books, which the Massachusetts Coalition for the Homeless will deliver to shelters, hospitals and other nonprofits in the state. The league's project has collected 190,326 books in the past nine years. Hanscom FCU volunteers shown organizing the books included, from left: Jim Potter, senior vice president of operations; Sandy Imbrogna, training specialist; David Sprague, president/CEO; and Paul Marotta, chairman of the board. (Photo provided by Hanscom FCU) … * CHARLOTTE, N.C. (5/29/09)--Roger Shelor, president/CEO of Charlotte, N.C.,-based Carolinas Telco FCU, died Tuesday at the age of 78. Shelor began his career at the $340 million asset credit union in 1965 as manager, then president/CEO. He served on numerous local and national committees and as a board director of the Piedmont Chapter of credit unions and the North Carolina Credit Union League. His career was highlighted when he received the "Mark of Excellence Award" from the league in 1991. He was preceded in death by his wife, Shirley. Survivors include three children. Visitation is 7 p.m. to 9 p.m. today at McEwen Funeral Home, 10500 Park Road, Pineville (South Charlotte), N.C. On Saturday, a celebration of Shelor's life will begin at 11 a.m., followed by services at noon at First United Methodist Church, 501 North Tryon St., Charlotte …


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