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WASHINGTON-Federal Reserve Board Chairman Alan Greenspan told the House Financial Services Committee last week that between the agency's rate cuts and the administration's tax cut, the American economy should be reversing its downward course in due time. "Our accelerated action reflected the pronounced downshift in economic activity, which was accentuated...

Army Aviation Center Federal Credit Union, Daleville, Ala., has named Karen McCarthy Destin branch manager and Hugh Martin Ozark South branch manager. Educational Community Credit Union, Jacksonville, Fla., has named Frank Florio vice president of information technology. Arkansas Federal Credit Union, Jacksonville, has named Terry Borreson senior vice president of...

ALEXANDRIA, Va.-NCUA Acting Chairman Dennis Dollar said that the agency was planning on cutting its budget by more than $2 million at the upcoming July board meeting. Dollar said that all three NCUA Board members have been briefed on the $2,183,000, or 1.55%, budget cut. The reduction brings the entire...

APPLETON, Wis. - The AAL CU and the AAL Member CU here, which were liquidated and transferred to AAL Bank and Trust, have declared a final $15.5 million in liquidating dividends to their members. AAL Member CU dished out an 8.36% dividend, giving close to $12 billion to 46,753 members,...

WASHINGTON - President George W. Bush announced his intention to nominate Mark W. Olson to the Board of Governors of the Federal Reserve System, representing the 9th District for the remainder of a 14-year term expiring January 31, 2010. Most recently he served as Staff Director of the Securities Subcommittee...

ONTARIO, Ore. - Businesses today are often advised to think "out of the box" in pursuing their goals to attract consumer dollars in today's highly competitive marketplace. Credit unions are no exception, and that's exactly what one small credit union in eastern Oregon did to expand its membership. Malheur FCU...

Travis Credit Union, Vacaville, Calif., has named David E. Purcell vice president of lending. Pioneer Federal Credit Union, Mountain Home, Idaho, has named Charles D. Lawson Pioneer Financial Services registered representative.

The appointment of a Renaissance Commission by CUNA is a forward looking management action; however, as reported in the July 11 issue of Credit Union Times, the output forwarded to the President of CUNA (Dan Mica) is a laundry list including many "visions" without evaluation, priority, weighing the relative sparseness...