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CU System briefs (11/19/2007)
* ARLINGTON, Va. (11/20/07)--George Reynolds, chairman of the National Association of State Credit Union Supervisors (NASCUS), has been elected chairman of the State Financial Regulators Roundtable (SFRR). Reynolds is senior deputy commissioner of the Georgia Department of Banking and Finance. SFRR is a forum for state regulatory associations to promote state regulatory oversight of financial service providers. It is comprised of NASCUS, the American Association of Residential Mortgage Regulators, American Council of State Savings Supervisors, Conference of State Bank Supervisors, Money Transmitter Regulators Association, National Association of Consumer Credit Administrators, National Association of Insurance Commissioners, and North American Securities Administrators Association. Reynolds was elected to a two-year term. NASCUS will assume administrative direction of SFRR for the duration of Reynolds' term … * BEAVERTON, Ore. (11/20/07)--The Credit Union Association of Oregon (CUAO) announced its 2007 award recipients. The Distinguished Service Award in the professional category went to Shirley Cate, CEO of Providence Health System FCU, Portland. The Distinguished Service Award recipient in the volunteer category was Betty James of SELCO Community CU, Eugene. The Young Credit Union Professional Award was received by Ken Olson, CEO of Old West FCU, John Day. The Heidemann Scholar Award went to Janet Buckalew of Pacific Crest FCU, Klamath Falls … * ATLANTA (11/20/07)--CDC FCU is partnering with the Federal Home Loan Bank to allocate up to $1 million in funds for first-time, low-to-moderate income homebuyers who can't afford all mortgage closing costs. The CDC FCU Homebuyer Grant Program is available for Georgia citizens who do not exceed 80% of the Housing and Urban Development (HUD) median income, currently at $55,400 for individuals and more for larger families. The credit union's wholly owned subsidiary, Briarwood Financial Services LLC, awards up to $10,000 per household to eligible buyers. To be eligible, the borrower must complete a homeownership education program, contribute at least $500 in cash toward the down payment and occupy the home as a primary residence for five years. If the buyer fulfills the last requirement, the grant is cleared in its entirety …


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