Large Merger In California
SAN DIEGO-In what the two credit unions say is the largest merger ever in this state, the $400-million Santel Federal Credit Union and the $150-million Kearny Mesa Financial CU plan to combine operations July 1.
Operating under the name First Future Credit Union, the merged institution will have $550-million in assets, 60,000 members, 19 branches and 190 employees. Santel Federal CEO Marla Shepard will be CEO of First Future. KMFCU President Jim Goulet will become president of a new CUSO. The merger is pending approval from the California Department of Financial Institutions.
Walberg Honored In Montana
HELENA, Mont.- Herb Walberg, Jr. was honored by Montana's credit unions as he steps down following 28 years as president of the Montana CU Network.
Walberg first became involved in credit unions in 1964 as a volunteer with a Minnesota credit union.
Robert Pyfer has been named interim president.
Maine Name Change Supported
WESTBROOK, Maine-The Maine Credit Union League said it is supporting a bill that will be introduced during the upcoming session of the legislature that proposes to change the name of the State's financial regulator from Bureau of Banking (in place since 1827) to the Bureau of Financial Institutions.
CUES Names Execs Of The Year
MADISON, Wis.-At the CUES Marketing, Operations and Technology Conference here Joe Hearn was named Marketer of the Year, while Paula Stopera was named Operations Professional of the Year, Hearn is senior vice president/marketing with Dupaco Community Credit Union, Dubuque, Iowa, while Stopera is executive vice president with Capital Communications FCU, Albany, N.Y. Both were honored during the CUES Conference in Reno, Nev.
