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CU System
CU System briefs (06/02/2008)
* HERNDON, Va. (6/3/08)--With its headquarters decorated in yellow ribbons and American flags, Northwest FCU (NWFCU) employees
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celebrated the return on May 19 of fellow employee Joshua Speights (shown here) to work after a year-long tour of duty with the Army Reserve in Iraq. Speights was stationed at Baquaba, Iraq Dilyah Province. NWFCU rolled out the red carpet with a large "Welcome Home Joshua" banner hung high on the building as a tribute to Speights and his service. At an employee luncheon, Speights told the group, "I can't thank NWFCU enough for the warm homecoming, and all the care packages and cards while I was away. They made my time away from home a little easier. Knowing that you have a strong support group makes a difference. I am grateful and happy to be home." According to President/CEO Gerrianne "Winky" Burks, "We are proud to have him home and thrilled he is home safely." … * LOS ANGELES and IRWINDALE, Calif. (6/3/08)--The boards of First City CU, Los Angeles, and SCE FCU, El Monte, Calif., announced Friday they have signed a letter of intent to merge the two credit unions. Both credit unions are strong and growing, and have similar asset sizes, complementary membership bases and branch networks, as well as healthy balance sheets, the boards said. The combined credit union will have $785 million in assets and serve 80,000 members in the greater L.A. area. SCE FCU CEO Dennis J. Huber will become CEO of the new combined organization, which will retain the First City name and state charter. All employees of both credit unions will continue employment with the combined credit union. The merger is pending approval of state and federal regulators and SCE FCU's members … * BOWIE, Md. (6/3/08)--The Tire Industry Association (TIA) announced that its members and employees are now eligible to join the $889.1 million asset, Bowie, Md.-based NASA FCU. TIA's members will have access to all the credit union's services, including: competitive rates on deposits and loans, free online bill pay, Visa credit cards with low fixed rates, and account access nationwide at more than 1,900 branches in 43 states as well as surcharge-free ATM access at more than 5,300 7-Eleven store ATMs. TIA members and employees and their immediate family and persons living in the same residence are eligible. TIA represents all segments of the tire industry … * CHAGUANAS, Trinidad & Tobago, (6/3/08)--The government of Trinidad & Tobago has intervened with support for a struggling cooperative, Hindu CU, nearly three years after thousands of members began demanding their deposits back. The credit union paid out about $420 million. Finance Minister Karen Nunez-Tesheira confirmed that the government would assist the credit union. Hindu CU had asked for a $71 million loan that would be collateralized by real estate assets (Trinidad Express June 1) … * ANTIGUA (6/3/08)--Antigua police are questioning two suspects in the kidnapping Sunday night of a credit union manager at gunpoint. She allegedly was bound, gagged and forced into the trunk of her car, then taken to Community First Cooperative CU Monday morning. There the robbers forced her to open the credit union's ATM. The abductors left with an estimated $200,000, police said (Antigua Sun June 2) …


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