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CU System briefs (09/30/2010)
* HARRISBURG, Pa. (10/1/10)--U.S. Rep. Charlie Dent (R-Pa.) met with Pennsylvania credit union leaders at an event hosted by First Commonwealth FCU, Bethlehem, according to the Pennsylvania Credit Union Association (PCUA) in its newsletter, Life is a Highway (Sept. 29). The group discussed a variety of credit union and consumer issues. Pictured from left are: Jo Ann Broderick, president/CEO at First Commonwealth FCU; John Cathers, vice president sales and service; Dent; Alan Musselman, chief financial officer; Janet Weinhofer, chief operating officer; and John Kilduff, PCUA vice president, credit union services. (Photo provided by the Pennsylvania Credit Union Association) ... * SPRINGFIELD, Mass. (10/1/10)--The former president of Western Mass. Electric Co. (WMECO) CU pleaded guilty Tuesday to stealing $225,000 from the $33.8-million asset, Springfield-based credit union by falsifying expense records (Associated Press via Boston Herald Sept. 29). Robert Koss was charged with embezzlement and filing a false tax return while running the credit union. As part of a plea bargain, Koss will pay restitution. Sentencing is set for Jan. 21 in the federal court. Koss retired from the credit union in 2006 ... * DULUTH, Ga. (10/1/10)--Georgia Central CU is hosting its fourth annual ALM Conference Nov. 2, with experts in investment and asset-liability providing information about asset-liability modeling tools. Cory Johnston, senior vice president and chief investment officer for the corporate credit union, said the event will enhance the "ability to interpret ALM reports and communicate more effectively with regulators, boards of directors and asset-liability committees." "This year we are bringing back a regulatory perspective to the agenda. Credit unions clearly benefit from knowing what their examiners will be looking for when their interest-rate-risk reporting is reviewed, so Lisa Boylen from First Carolina Corporate will be on hand to talk attendees through how to prepare," Johnston said. Sessions include strategies in the current low-interest rate environment, to how to develop sound modeling assumptions, to recent system upgrades on services provided by Georgia Central ... * ATLANTA (10/1/10)--Georgia's Own CU President/CEO Charlotte S. Ayers will retire at the end of the year, after 11 years at the helm and 41 years with the Atlanta-based credit union. She is credited with transforming the 76-year-old financial institution from $600 million in 1999 to $1.5 billion assets today. Her tenure saw membership increase to 160,000 from 79,000 and the credit union's service extend to all of metro Atlanta, and parts of Savannah and Augusta. Her retirement is part of a transition process she initiated in 2008 to ensure the credit union has strong leadership. David Preter, previously executive vice president, of the credit union, has been named president/CEO (The Weekly Sept. 20) ...


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