Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Herbst Named CEO of CUMAnet
BASKING RIDGE, N.J. (12/7/10)--Joseph P. Herbst, a leading figure in two of the corporate credit unions placed under National Credit Union Administration conservatorship, has been named the new president of the Credit Union Mortgage Alliance Network (CUMAnet). The credit union service organization (CUSO), which provides mortgage origination and servicing, seeks to expand its reach nationally. CUMAnet began in the northeast U.S., but has recently expanded to serve Washington D.C., Chicago and other markets. Herbst's “comprehensive background and experience in the industry and success with growing organizations from the regional to the national level will serve as key elements in helping to grow our organization,” said CUMAnet board member Robert Birkahn. Herbst was CEO of Members United Corporate FCU, Warrenville, Ill., which was placed under conservatorship by the NCUA Sept. 25. He also was chairman of the board at U.S. Central FCU, Lenexa, Kan., which the NCUA took over in March 2009. “My primary goals will be to increase CUMAnet’s national footprint and maximize operational efficiencies for future growth, paving the way for low-price options,” said Herbst. “That is, after all, what the credit union system is all about.”


RSS print
News Now LiveWire
#NewsNow @MountainAmerica among top 100 worldwide in HR management http://t.co/QqfzOSTkiA
52 minutes ago
Missouri #creditunions embrace Bank on More SUV sweepstakes #NewsNow http://t.co/yjD1qNt68T
1 hours ago
In letter to Pres Obama, @CUNA CEO @Nussle urges natl action on cybersecurity, breaches #NewsNow http://t.co/rZFzSXWJOP
1 hours ago
Bank ATM fees continue to climb. Credit unions? Not so much. #NewsNow http://t.co/7nfcqusVuM
2 hours ago
NCUA 2day liquidated Republic Hose Employees FCU,Youngstown,Ohio, after determining the CU was insolvent w/no prospect for viable operations
2 hours ago