The Good, The Bad, and The Ugly

A glimpse at the cheer worthy, jeer worthy, and tear worthy stories for the week of March 8, 2010.

 
 

The GOOD

The competition is heating up for the annual Credit Union Cherry Blossom 10 Mile Run (and 5K walk) taking place this spring in Washington, DC. Joan Benoit Samuelson, who won the gold in the women’s marathon during the Los Angeles 1984 Olympics, will run in the 50-59 age bracket. Joining her are other top finishers, both male and female, from years past as well as running enthusiasts from all over the country. Runners will gather at the Washington Monument grounds for the picturesque run through the nation’s capital on April 11. According to RunnersWeb, Samuelson is also slated to address childhood obesity during a clinic at the Health and Fitness Expo at the National Building Museum on April 10.

The BAD

Mississippi Attorney General Jim Hood is warning consumers about a phishing campaign that appears to be targeting credit union members via texts and mobile phone calls. The scam urges members to call a toll-free number in order to unfreeze their account, which they must provide when they call. “No reputable financial institution is going to send a text message or ask for your information," Hood says. Good advice, too bad it’s too late for those who have had their accounts wiped clean. And unlike McDonald’s, these phishers won’t “give it back.” 

The UGLY

A commission for the Missouri Department of Transportation voted this week to sever ties with 10 credit unions housed in MoDOT facilities. The credit unions were originally given until September 30, 2010 to find new digs, but at the urging of the Missouri Credit Union Association, state lawmakers, and the Missouri Division of Credit Unions, that date was changed to December 31, 2012. MoDOT announced its intention to evict the credit unions in January. According to MCUA, since the announcement individual locations have lost as much as $275,000 in deposits. The individually chartered credit unions serve MoDOT and Missouri State Highway Patrol employees and their families.

 
 

March 11, 2010


Comments

 
 
 
  • What Likely Makes the MoDOT - Credit Union Separation Even Uglier:

    During the summer or fall of 2009, MoDOT encountered a situation where overtime checks would be delayed. The MoDOT/MSHP Credit Unions were requested to make short term loans to any employees that needed their overtime pay immediately. One of the credit unions denied the loan to one of its members due to bad history with the member. Roberta Broeker demanded that the credit union manager make the loan, but the manager refused, and a quarrel ensued. Interestingly, it was during fall 2009 that the idea to throw out the credit unions and their workers was first presented to MoDOT's director Pete Rahn by "one of his staff". The idea was a close-kept secret until announced in Jan 2010. At that time, the MoDOT District Engineers were instructed to make no guaranteed provision or special priority for the credit union employees to continue employment with MoDOT. Could the real reason for shuttering the credit unions be a petty act of retribution? I think it is. This should be investigated, and if verified, Ms. Broeker be dealt with for her personal vendetta.

    As discovered by the MCUA when helping the 10 credit unions, MoDOT has no sound reasons to take this action. No state money will be saved, and the MCUA and Mo Div of Credit Unions exist to help keep credit unions insured and compliant with regulations. Even if the action was taken to cut full time positions in MoDOT as part of govt cost-cutting, that reason falls flat since the Credit Unions reimburse their employees salaries and benefits to MoDOT - no more money will be go on the roads. The idea to separate the credit unions from MoDOT has come up several times during the fifty year history of the credit unions, and in all cases the idea was soundly rejected by the Highway Commission.

    Anonymous
     
     
     
  • Please remove my March 14, 2010 comment "What Likely Makes the MoDOT - Credit Union Separation Even Uglier" from your web site. It was written on the spur of the moment and I cannot guarantee that it's entirely factual. No one should have been named - I don't want anyone else to see it.
    Anonymous