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News Now

CU System
CU System briefs (11/03/2011)
  • GRAND RAPIDS, Mich. (11/4/11)--The board of Michigan-based credit union service organization (CUSO) Xtend Inc. announced it will increase the price of new stock ownership, effective Jan. 1, to $23,000. The current asking price of $19,000 will remain until then, said Xtend Board Chairman Steve Searfoss of AAA FCU, South Bend, Ind. He noted the board "felt it was important for our buy-in price to reflect not only our stellar 2011 performance, but also our vision of a bright future for our CUSO and the credit unions we serve." The stock offering for the CUSO has grown steadily since its initial $5,000 price in 2003 …
  • KENILWORTH, N.J. (11/4/11)--Atlantic FCU has named Mike Fanelli as its new president/CEO. He will succeed longtime CEO Fred Beckman, who is retiring in early December, said the New Jersey Credit Union League (The Daily Exchange Nov. 3). Fanelli, who has been with the $275 million asset, Kenilworth, N.J.-based credit union for 12 years, is currently chief financial officer/chief operating officer. Beckman, who has been CEO since 1994, will stay through a transition period and will move onto the credit union's board of directors ...
  • SAGINAW,  Mich. (11/4/11)--The state of Michigan paid special tribute to Saginaw-based Catholic FCU (CFCU), which recently reached the  $1.1million benchmark in its Msgr. Forbes Scholarship Fund. Since 1982, the $300.5 million asset credit union's Scholarship Committee has awarded more than $1.1 million and presented more than 2,300 scholarships to students for their education. Sen. Roger Kahn attended a special ceremony and recognized that the awards have had a valuable impact on the ability of local students to continue their education.  From left are All Saints students Brittany Burns and Megan Marvin; Bishop Joseph Cistone; Kahn, CFCU Board Chairman Robert Looby; CFCU CEO Alan Watson; and Jose Salinas, Msgr. Forbes Scholarship Trustee.  (Photo provided by Catholic FCU) …
  • FARMERS BRANCH, Texas (11/4/11)--The Texas Credit Union League has tapped Tom Haider as its executive vice president for advocacy. Haider, who has more than 25 years of advocacy experience in the financial services industry, will be responsible for directing the league's government relations program. He formerly served for seven years as the first in-house attorney for the Minnesota Credit Union League (now Minnesota Credit Union Network), where he provided legal and regulatory compliance advice to credit unions and ran the league's government relations program.  He also was senior vice president of government affairs and chief compliance officer of MoneyGram International Inc.  According to Texas league President/CEO Dick Ensweiler, Haider has "lobbied successfully for the passage of legislation in multiple states, including Texas, as well as the U.S. Congress and the European Union's Parliament" and has "in-depth knowledge involving many issues affecting credit unions today" …


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