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CU System briefs (07/20/2011)
* MERIDEN, Conn. (7/21/11)--Credit Union National Association (CUNA)
President/CEO Bill Cheney addressed nearly 50 Connecticut credit union representatives attending the Credit Union League of Connecticut's Professional Education Series session on CUNA and related industry activities. He discussed the debit interchange legislation and rule, opportunities for credit unions to pursue the issue further, and provided updates on the credit union industry, including challenges such as the loss of revenue resources, regulatory demands of the National Credit Union Administration, National Credit Union Share Insurance Fund assessments related to last year's corporate credit union crisis, and the current positive image of credit unions in the media and with the public. Here, Cheney, left, listens to a point from Tony Emerson, president/CEO of the league. (Photo provided by the Credit Union League of Connecticut) … * CHARLESTON, W. Va. (7/21/11)--Samuel Glenn Garwood, 48, of South Carolina was indicted Tuesday by a federal grand jury in Charleston, W.Va., on two counts of robbery at two credit unions in West Virginia. He is charged with stealing $4,191 from Pioneer FCU, South Charleston, on May 26, and $3,460 from Universal FCU, Barboursville, on June 1. If convicted, he faces a prison sentence of up to 40 years and a maximum $500,000 fine (Associated Press Newswires July 20) … * ST. LOUIS (7/21/11)--U.S. Sen. Claire McCaskill (D-Mo.) met with nearly 30 leaders from 18 Missouri credit unions Monday to discuss credit union issues and concerns. The Missouri Credit Union Association (MCUA) hosted the event at its headquarters in St. Louis. At the meeting credit unions thanked McCaskill for her support of the debit interchange amendment delay and discussed member business lending (MBL). S. 509, the Small Business Lending Enhancement Act, would raise the artificial cap on credit unions' MBL to 27.5% of credit union assets from 12.25%. MCUA President/CEO Mike Beall outlined the issue, and credit union leaders provided examples and shared concerns and countered banker complaints against the bill. "Your arguments are compelling, and I will give the bill further study," McCaskill told the group. The meeting also addressed supplemental capital, the nation's debt ceiling troubles and the upcoming 2012 Senate race in which McCaskill is running for re-election. "It was an excellent opportunity to thank Sen. McCaskill for her work on behalf of credit unions on the debit interchange delay issue," said Beall, noting MCUA is looking forward to working with her on MBL and supplemental capital issues … * HERNDON, Va. (7/21/11)--Northwest FCU Foundation has awarded 21 students a combined $90,000 through its two scholarship programs, the Ben DeFelice and Central Intelligence Retirees Association (CIRA) scholarships. Recipients include Student Government Association officers, an Eagle Scout, a Silver Girl Scout, outstanding swimming and gymnastics athletes who coach handicapped children, an award-winning student filmmaker, officers of service organizations that raise funds for cancer research, and founders of organizations that bring social awareness and funding for hunger, poverty and other causes. "They all have had a tremendous impact on their communities and those around them," said Gerrianne Burks, front right, chairman of the foundation and president/CEO of Northwest FCU. Pictured are the 2011 scholarship winners with Burks, Foundation Vice Chairman Juri Valdov, and board members Bill Cook and Mary DeFelice. (Photo provided by the Northwest FCU Foundation) …


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