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As CEO, Garner leads a team now serving 1,400 member credit unions across the nation.
Northwest credit union leaders Rick Hein and Bill Before will continue service as members of the board for Catalyst Corporate Federal Credit Union. The corporate credit union serves 1,300 credit unions across the country.
“An increasing number of credit union executives on the go want—and need—to connect to their daily activities by smartphones and tablets,” said Kathy Garner, president and CEO of Catalyst Corporate. “Developing a mobile site that increases convenience for our member-owners is one way Catalyst Corporate can deliver on our promise to provide efficient, innovative products and services.”
One year after taking the reins as president and chief executive officer of the then six-month-old Catalyst Corporate Federal Credit Union, Kathy Garner says member credit unions now can see evidence of a solid, sustainable business model that drives the corporate’s operations.
With analysts predicting that 30 million iPads and iPad minis will be sold this holiday season, Catalyst Corporate Federal Credit Union is rolling out its mobile banking app for iPad—just in time for the holidays.
WesCorp’s former CEO has been slapped with a prohibition order and a $600,000 fine by the National Credit Union Administration. The move closes another chapter in the corporate failure saga that cost credit unions billions and called into question the regulator’s oversight during the collapse.
Catalyst Corporate, a Strategic Link gold partner, rolled out the first edition of its new quarterly Due Diligence Report this week. The publication focuses on corporate transparency and includes financial statements and information about Catalyst’s risk profile, CUSO investments, compliance and operational procedures.
Catalyst Corporate Federal Credit Union, a Strategic Link gold sponsor, announced the addition of San Francisco Federal CEO Steven Stapp to its Asset Liability Committee, the third former Western Bridge member to join Catalyst’s governance structure.
Northwest credit unions lost millions in interest income last year when the NCUA forced early redemption of CDs held by WesCorp. Its successor, Western Bridge, was formally liquidated last month, and Catalyst now holds a handful of unredeemed CDs.
Unitus Community Credit Union’s Wine on the Willamette is scheduled for Aug. 17. As always, the fabulous summer evening event benefits an important cause: Doernbecher Children’s Hospital and Credit Unions for Kids.
Seeing an opportunity to serve the needs of Northwest credit unions, Catalyst Corporate has named a second Northwest credit union leader to its board following the purchase of Western Bridge assets.
At its open board meeting this morning, the NCUA announced that federally insured credit unions will owe 9.5 basis points to fund the 2012 Temporary Corporate Credit Union Stabilization Fund.
On the heels of a data interpretation indicating credit unions could be paying 10 basis points on $5.3 billion corporate stabilization for up to six years, new estimates have reduced the term by one year and lowered the rate by nearly $1 billion.