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CU System briefs (11/29/2007)
* MADISON, Wis. (11/30/07)--Madison-based Summit CU and Great Wisconsin CU have announced plans to merge, with completion expected in January 2009, pending approval from members and regulators. Summit, with $730 million in assets and 64,000 members, will merge with Great Wisconsin, which has $398 million assets and serves 51,000 members. The new credit union will be named Summit CU and adopt Great Wisconsin's expanded charter. Andy Faust, Summit CEO, will lead the new credit union as CEO, and Great Wisconsin CEO Kim Sponem will become president. Employees were told that no material changes in employment are planned. The combined credit union will have more than $1 billion in assets and serve more than 110,000 members in 20 locations throughout the state, making it the largest credit union merger in Wisconsin history, they said … * HARRISBURG, Pa. (11/30/07)--U.S. Rep. Chris Carney (D-10) praised credit unions at Wednesday’s Susquehanna Valley Chapter of Credit Unions meeting in Williamsport. The congressman told the 50 people attending he’s a loyal credit union member. Carney added that he had no financial worries about himself or his family while performing military service in Afghanistan because he knew his credit union was taking care of his financial obligations. He pledged his continued support for credit unions and said he would protect them from bankers (Life Is A Highway Nov. 29). From left are: Pennsylvania Credit Union Association Director Bill Lavage, Carney, and Chapter President Joanne Cowden at the meeting. (Photo provided by the Pennsylvania Credit Union Association) … * BOULDER, Colo. (11/30/07)--Boulder Valley CU is the first financial institution in Boulder County to be awarded the Partners for a Clean Environment (PACE) certification. PACE is a voluntary, non-regulatory organization that reviews businesses for their eco-friendly practices. Boulder Valley CU is the first financial institution, bank or credit union in Boulder County to meet the requirements necessary for certification. In May 2007, the credit union began working with members to help them “Go Green” by offering discounts on loans to purchase fuel-efficient vehicles and install solar panels on their homes. Pictured are, from left: Amin Delegah, pollution prevention specialist with Boulder County, awarding Jason Bauer, vice president of marketing at Boulder Valley CU, with the certification. (Photo provided by Boulder Valley CU) … * KIMBERLY, Wis. (11/30/07)--In a program to help relieve the hardships on military families from the deployment of troops for active duty, Capital CU, a $286 million asset, Kimberly, Wis.-based credit union, has begun offering a reduced loan rate and payment program for active duty Army reservists and National Guard troops (The Post-Crescent Nov. 25) ...


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