NEFCU acquires Health One CU, expands into Michigan and Ohio

first_imgNew England Federal Credit Union,New England Federal Credit Union (NEFCU) of Williston has announced its acquisition of Health One Credit Union, a financial institution serving communities in Michigan and Ohio. The acquisition, which was finalized on December 12, makes Health One a division of NEFCU and adds more than 3,000 members and $15 million in assets to Vermont’s largest Credit Union.NEFCU is one of the state’s leading financial institutions, with more than 91,000 members and over $1 billion in assets. The acquisition of Health One is part of NEFCU’s strategy to expand into new markets that provide opportunities for future growth.Health One Credit Union serves employees of Blue Cross Blue Shield in Michigan, and Medical Mutual in Ohio, in addition to its community charter. The institution was placed into conservatorship in May 2014 by the Michigan Department of Insurance and Financial Services, which together with the National Credit Union Administration (NCUA), managed Health One prior to the acquisition, according to John Dwyer, President and CEO of NEFCU.“As a result of NCUA’s intervention, and following a thorough review by our own team, we have found Health One to be a worthwhile addition to NEFCU,” said Dwyer. “In order for us to continue to provide the types of services and technologies that our members have come to expect, it’s important that we look for opportunities for growth that are consistent with our strengths and our strategic goals. Expanding out of state through this acquisition is a sensible approach that will benefit members of both NEFCU and Health One.”Chartered in 1957, Health One serves employees of the Blue Cross Blue Shield in Michigan as well as persons residing, working, worshipping, volunteering and attending school in the counties of Macomb, Oakland, Washtenaw, and Wayne. Health One also serves employees of Medical Mutual of Ohio in Cleveland, Ohio. Health One members will experience no interruption in services as a result of the acquisition by NEFCU, and their accounts will remain whole.NEFCU will retain the Health One brand name for convenience and consistency. The institution will be known forthwith as “Health One – A Division of New England Federal Credit Union.”New England Federal Credit Union (NEFCU), headquartered in Williston, is a member-owned financial institution serving communities in the six counties of northwestern Vermont. With more than 91,000 members and $1 billion in assets, we are the largest Credit Union in Vermont. Anyone who lives, works or attends school in the six counties of northwestern Vermont (Addison, Chittenden, Franklin, Grand Isle, Washington and Lamoille) is eligible for membership.Source: NEFCU 12.12.2014last_img read more

PSA Norway Inspects Ocean Vanguard Stability. Finds Room for Improvement

first_imgOn 28 and 29 May 2013, the Petroleum Safety Authority Norway (PSA) conducted an audit of Diamond Offshore in connection with the stability, buoyancy and ballasting of Ocean Vanguard rig.The objective of the audit was to verify that Diamond Offshore had good systems for stability, buoyancy and ballasting in accordance with regulatory requirements.No non-conformities were identified. Improvement points were identified in connection with: risk analyses; stability calculations; use of bolsters; documentation of training.[mappress]Press Release, July 1, 2013last_img read more

British courts can impose whole-life terms

first_imgWhole-life tariffs are compatible with the European Convention on Human Rights and do not amount to ‘inhuman or degrading treatment’, the European Court of Human Rights has ruled.The case was taken to Europe in 2008 by Arthur Hutchinson, 73, who was sentenced to life in 1984 for murdering three members of a Sheffield family and raping another family member.Hutchinson had claimed that his whole-life sentence breached article 3 of the ECHR (inhuman and degrading treatment) because he had no hope of release. He had unsuccessfully appealed against the sentence in both the High Court and Court of Appeal.The Hutchinson ruling also overturns a 2013 judgment by the European human rights court that it was unclear whether the justice secretary had the power to release a whole-life prisoner in exceptional circumstances.The six-to-one ruling in the Hutchinson case says the justice secretary does have this power and it is sufficient to comply with article 3.Mark Hammond, chief executive of the Equality and Human Rights Commission, commented: ‘We welcome this important clarification. This ruling reinforces the primacy of UK courts in interpreting domestic law in these cases.‘It underlines that dialogue between the ECHR and our courts can be the best approach in resolving contentious issues.’last_img read more