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CU System briefs (07/01/2011)
* HARAHAN, La. (7/5/11)--GEA FCU, St. Gabriel, La., is the newest branch of $460.1 million asset Neighbors FCU, based in Baton Rouge, according to the Louisiana Credit Union League (eNews June 29). Neighbors now has 600 new members from the merger, finalized in April. The GEA FCU branch will remain open and serve all employees of the PCS Nitrogen, Honeywell and Williams-Olefins plants. Long-time GEA Manager Amanda Decoteau will remain at the location … * SEATTLE (7/5/11)--Members of Watermark CU, a $557.3 million asset credit union in Seattle, have approved a merger with Sound CU, a $537 million asset credit union in Tacoma, Wash. The merger, to be effective Sept. 1, will form Washington State's fifth-largest credit union, operating under the name of Sound CU. It will be based in Tacoma and have nearly $1.1 billion in assets, with 21 branches. Sound CU CEO Rick Brandsma will remain in the position, while Watermark CEO Sharon Sanford will stay on as a consultant during the transition. The vote was the final step in the merger process. No layoffs are planned (The Seattle Times June 24) … * HARRISBURG, Pa. (7/5/11)--The Pennsylvania Credit Union Association (PCUA) has slated a pilot Reality Fair at the State Capitol in November, announced PCUA's newsletter, Life is a Highway (July 1). The fair is a program of the National Credit Union Foundation and supported by PCUA and the Pennsylvania Credit Union Foundation. PCUA plans to follow the pilot with four fairs across the state toward the end of the school year in April 2012 … * READING, Pa. (7/5/11)--CTCE FCU, an $84 million asset credit union in Reading, Pa., opened five offices Friday as shared-branch outlets (Life is a Highway July 1). Four of the branches will be open seven days a week. The outlets are in Reading, Westlawn and Shillington. One is inside Redner's Warehouse Markets in a shopping mall, and three are inside Giant Food Stores. Pennsylvania has 131 shared branching outlets … * FRANKLIN, Va. (7/5/11)--Bronco FCU CEO Bob Petty has announced his retirement. Petty has been with the Franklin, Va.-based credit union for 27 years, the past 13 as CEO. "Under Bob's leadership, first as a manager, then a board member, and lastly as CEO, assets have grown from $13.3 million to $201 million," said Charlie Wrenn, chairman of Bronco's board. "Members grew from 3,650 to over 20,000," he added. Petty also has served on various committees and the board of the Virginia Credit Union League, including serving as board chairman. He is also a member of VACORP FCU and the Credit Unions Care Foundation of Virginia ...


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