Member Directions October 1, 2010

Prior Named Connections CU President
Scott Prior was recently named Connections Credit Union’s new President & CEO. Taking over for former President Tracy Olson, Prior will use his 18 years experience to lead the credit union.

Numerica Passes $1 Billion
The Spokesman Review reported that Numerica Credit Union has reached the $1 billion in assets mark. CEO Dennis Cutter attributes reaching the benchmark to internal growth and a recent merger with School Employees Federal Credit Union of Richland.

STCU’s $4.9 million loan nets big savings for Spokane Housing Authority
A new relationship with STCU will save Spokane Housing Authority money that will be put back into the local economy while also improving the lives of low-income residents in two apartment complexes where more than $900,000 in upgrades are planned.

By refinancing its Heritage Heights and Westfall Village apartments with a $4.9 million commercial loan through STCU, Spokane Housing Authority qualified for the federal Build America bond program, which is meant to stimulate the economy by reducing the cost of borrowing. The program repays agencies 35 percent of their interest costs for qualifying loans. That has the potential to save Spokane Housing Authority hundreds of thousands of dollars over the life of the loan.

BECU Gets Thumbs Up
BECU got the “Thumbs Up” in a recent edition of the Olympian for its support of Tulip Credit Union, a low income credit union serving people of Thurston County.  Tulip received $100,000 in secondary capital from BECU.

America’s CU Buys Failed Bank’s Headquarters
America’s Credit Union recently purchased the former home of Venture Bank in DuPont. The 54,000 square-foot home of the failed bank will be the new home of the credit union’s DuPont branch and have additional retail space for lease.

Peninsula Turns 75
Peninsula Credit Union turned 75 years old last month and marked the date with a member appreciation day. Started in 1935 with just $35 by employees at Rainier Pump and Paper Company, Peninsula now has $150 million in assets and 18,000 members.

Red Canoe Credit Union Fills its Canoes
Red Canoe Credit Union launched its 4th Annual “Fill the Canoe” School Supply Drive.  The credit union teamed up with service agencies in all four geographically separate branch markets to collect 6,500 pounds of school supplies to children in need which in turn were matched by the credit union pound-for-pound, doubling the community’s efforts to 13,000 pounds.  More than 800 pounds of the donations came directly from Red Canoe employees. 

YVCU Hires Central Operations Manager
The Yakima Herald Republic reported that Yakima Valley Credit Union hired Andrea Haverfield as its new central operations manager. Haverfield has more than 18 years of experience.

TAPCO Hires New VP
Susan Moblo has been hired by TAPCO Credit Union as vice president and chief credit officer. Ann Army veteran, Moblo has 21 years of commercial banking experience.

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