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CU System briefs (07/06/2012)
  • CHARLOTTESVILLE, Va. (7/9/12)--For the third consecutive year, the U.S. Small Business Administration (SBA) has recognized UVA Community CU as the Top Credit Union in the Richmond, Va., District for fiscal year 2011. UVA Community had the highest number of loans originated and closed in Virginia, with the exception of the Washington, D.C., metropolitan areas. "Credit unions are a critical source for small business lending today," said Jayne E. Armstrong, district director at SBA's Richmond District office. "UVA is making a difference by expanding financing opportunities to its members interested in starting and growing their businesses." UVA Community CU President/CEO Alison DeTuncq noted that "Virginia's economic recovery depends on the ability of small businesses to gain access to the capital they need to grow and prosper."  From left are Bridget Bean, acting SBA regional administrator, Region 3; Michael D. Lyster, vice president of business services at the credit union; and Armstrong. (Photo provided by UVA Community CU)  …
  • RALEIGH, N.C. (7/9/12)--State Employees' CU (SECU) of North Carolina, which has been providing the employees of its state and their families with consumer financial services for 75 years, recently partnered with Haven House Services in Wake County to offer quarterly financial education sessions to at-risk youth ranging from 10- to 23-years old. The sessions will address subjects ranging from budgeting to credit needs and credit reports to deposit services. Haven House Outreach Coordinator Kelsey D. Mosley said many of the young people associated with Haven House have limited education and little financial experience. "We hope the instruction provided through this partnership will help lead them to sustaining positive lives as they continue on their own," she said in a release announcing the partnership. Ann Speck, vice president of SECU's Hillsborough Street branch in Raleigh, said, "SECU places a strong emphasis on financial literacy and feels it's imperative this education begin very early. SECU is happy to assist Haven House in helping youth become successful adults." …
  • SCRANTON, Pa. (7/9/12)--A third Scranton, Pa.-area credit union is offering assistance to employees of the city of Scranton after the mayor unilaterally reduced their salaries to minimum wages.  Penn East FCU, a $127 million asset credit union in Scranton, said Thursday that city employees who are members of the credit union and who have existing auto or personal loans may skip a payment during July and August (The Times-Tribune July 5). Members can also apply for a Salary Continuation Loan that would have no interest and no payments through Sept. 28. They also can refinance auto loans from other financial institutions without interest or payments through Sept. 28, and receive 1% of the refinanced amount, up to $100 cash, at closing. News Now reported on two other credit unions--Tobyhanna FCU, Scranton, and Cross Valley FCU, Wilkes-Barre--that had announced aid to the city employees because of the salary cutbacks …


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