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CU System briefs (07/23/2009)
* FARMERS BRANCH, Texas (7/24/09)--The Texas Credit Union League announced its Chapter of the Year for 2008. The honors go to the Fort Worth and Big Spring chapters (LoneStar Leaguer July 23). The awards recognize chapters that excel within their asset categories on deployment of a comprehensive project of work touching seven categories: education, credit union fundraising, public relations, chapter involvement, community activism, participation in the Credit Union System and political advocacy … * BELLEVUE, Neb. (7/24/09)--SAC FCU's indirect lending program has shattered its previous record in volume, announced the $370 million asset credit union based in Bellevue, Neb. Its Indirect Lending Department posted $19.5 million in volume in June and $11.4 million in May--a 16% growth over the two-record setting months. The previous record was $11.4 million set in August 2006. Loan quality was not sacrificed and increased to 98% A & B paper. The credit union is on pace for $114 million in new-auto loans this year … * BALTIMORE (7/24/09)--MECU of Baltimore members in June received the first half of an anticipated $4.2 million cash bonus, according to the $956 million asset credit union. The loan interest rebates and extraordinary dividends were deposited into members' accounts June 30. The credit union has paid members a cash bonus every year since 1981. In 2007, the board decided to pay half the bonus in June and the second half in December. "Many of our members are teachers," said Herman Williams Jr., board chairman. By providing part of the cash bonus at the start of the summer, "it gives our teacher members some extra cash when they most need it." MECU President/CEO Bert J. Hash Jr. noted that while some area financial institutions struggled the past year, "MECU has remained well capitalized and ready to help our members with their financial needs in 2009" … * SPRINGFIELD, Mass. (7/24/09)-- STCU CU has named William "Bill" Brothers as president/CEO. He succeeds Gary Fishlock, who retired in June after six years with the $97 million asset credit union. Brothers joined STCU in January 2004 as vice president, treasurer and chief financial officer. Before then, he had more than 32 years experience in finance at two Massachusetts community banks-including vice president positions at Monson Savings Bank and Cohasset Savings Bank. He is a board member of the Pioneer Valley Chapter of the Massachusetts Credit Union League and a trustee of The Credit Union Employees Retirement Association …


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