GPFCU Absorbs Insolvent CU
WICHITA, Kan.-Communities United Credit Union, which was declared insolvent in mid-February by regulators and has been operated by NCUA since that time, is being absorbed in a merger with Great Plains FCU, Joplin, Mo.
The $2.3-million Communities United had been struggling with failed loans, as it had often done during its 11-year history. CUCU's 1,100 members will join the 22,000 who already belong to the $225-million Great Plains. The CUCU facility will join GPFCU's branch network.
Rakowsky Announces Retirement
ARVADA, Colo.-After 37 years in credit unions, Ron Rakowsky, manager of government affairs at Credit Union Association of Colorado and Credit Union Association of Wyoming, is retiring. He joined the league in 1994 when he took over the league-owned CU Leasing Corp. and acted as general manager. During his career he also worked at MacDill FCU, Tampa, Fla., Pentagon FCU; and Space Age FCU.
SDCCU Names Oberbauer CEO
SAN DIEGO-The $3.8-billion San Diego County Credit Union (SDCCU) has named Irene Oberbauer as CEO effective Aug. 1. Oberbauer has served as the credit union's chief operating officer and has worked for SDCCU in a number of capacities for the past 12 years.
Oberbauer will succeed Rod Calvao, who last July announced his plans to retire this year. Calvao has served as the CEO for the past 15 years achieving significant milestones under his leadership.
CUNA CFO Council Elects Officers
MADISON, Wis.-The new executive committee and officers for the CUNA Chief Financial Officers (CFO) Council have been named.
Erin Mendez of Orange County Teachers FCU in Santa Ana, Calif., is chair. Pamela S. Finch of Mid Minnesota FCU in Brainerd, Minn., is vice chair. Robert Warren Jr. of Virginia CU in Richmond, Va., was appointed secretary/treasurer.
Steve Smith of Sharonview FCU in Fort Mill, S.C., joined the executive committee.
Additionally, three incumbents were re-elected: Mendez, Finch, and M.J. Coon of Ent FCU in Colorado Springs, Colo. Other board members are: Louis Scungio of Freedom CU in Springfield, Mass.; and Peg Lamb of Capital CCU in Lansing, Mich.
Visit www.cujournal.com
