Hubbard, who was CEO when CACU won the CU Times Trailblazer Award for Outstanding Service to the Underserved in 2010, provided commentary along the trip to the branch, including pointing to other streets where it appeared entire blocks had been abandoned.
DeAndre Windom, a local entrepreneur and mayor of the small community, praised CACU for seeing beneath the surface blight and into the lives of the residents.
Since inception, CACU
has provided core products and services to credit unions, more recently adding Revolving Demand Loans (http://www.
Alabama Credit Union invested capital in Corporate America, but President/CEO Robert Einstein of the $140 million UMe FCU moved his business from the now-shuttered Western Corporate Federal Credit Union to CACU because of Bonds' strategy of not requiring capital from new members.
Under his leadership, CACU members lost no membership capital shares or paid-in capital, one of the few corporates to do so during the financial crisis.
CACU estimates that if it helps 100 people with the grant funds, it can help rate-locked members save a total of $15,000 each a month.
When she came to CACU to refinance, she was surprised to learn that because of her high credit score, she qualified for a 3% rate.
CACU often hires interns as full-time employees--currently, 15% of CACU employees, in positions ranging from teller to member service representative, are former Academy of Finance students.
Through these internships, CACU has a positive impact on youth who will become our next generation of decision makers and we are excited about that.
Treichel addressed the two models in a June 18 letter to CACU, reporting that both ISI and FIMAC NEV reports disclosed risk violations.
12, CACU asked the NCUA and the ACUA for permission to purchase a federal agency bond.
Kim Vermander, the vice president of lending at CACU
, said that the majority of loans the credit union does are D and E paper.