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CU System
CU System briefs (11/26/2007)
* BATON ROUGE, La. (11/27/07)--Pelican State CU distributed $300,000 in special member dividends to more than 10,000 qualified members on Nov. 1, reports the Louisiana Credit Union League (eNews Nov. 21). The dividend was the result of a surplus in the credit union's operating budget due to under budget expenses, increased efficiencies, and a superior team effort by the Baton Rouge-based credit union's 120 employees, said Jeff Conrad, CEO … * LATHAM, N.Y. (11/27/07)--Freshman state Assemblyman George Amedore, left, (R-Adirondack) toured Sunmark FCU's General Electric branch Nov. 21 to learn about the credit union difference and Sunmark's philanthropic initiatives. Amedore, left, met with the credit union's senior management, including President/CEO Bruce Beaudette, center, and branch Sales and Service Manager Tricia Lavoy, right. The group also discussed taxation issues related to credit unions. The event was coordinated by the New York State Credit Union League. Representing the league during the visit were Amy Kramer, vice president of governmental affairs, and Allison Doney, advocacy specialist. (Photo provided by the New York State Credit Union League and Sunmark FCU) … * NORFOLK, Va. (11/27/07)--A former vice president of the former $1.9 million asset Portsmouth (Va.) Post Office CU was charged with defrauding the credit union of more than $170,000 and causing the demise of its business (The Virginian-Pilot Nov. 24). Minerva Marrero-Smith, who was also treasurer and a board member at the credit union, is scheduled to appear in federal court Dec. 11 on charges she defrauded the credit union through a series of seven loans obtained under false pretenses. She allegedly defaulted on $171,000 of the loans and also is accused of defaulting on a fraudulently obtained $42,000 loan from the Hampton Roads Postal CU. The Northern Star CU took over the Portsmouth credit union in 2003 … * MADISON, Wis. (11/27/07)--Madison police are looking for a man who robbed a branch of the University of Wisconsin CU last week. The thief entered the credit union at 7:15 a.m. Nov. 19 and said he had a gun. He then fled on a mountain bike with the money, police said (The Capital Times and Wisconsin State Journal Nov. 22) …


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