Monthly Bulletin – December 2000 State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 4, Number 6 December, 2000 Deputy Commissioner of Credit Unions Takes Office Elizabeth Dooley took office as Deputy Commissioner of Credit Unions on December 4, 2000. Governor Gray Davis appointed Ms. Dooley to her post on October 31, 2000. She will be located in the Los Angeles Office and can be reached by telephone at (213) 897-2225 or by e-mail at firstname.lastname@example.org. Ms. Dooley has a B.A. from Mills College and a J.D. from the Western State University College of Law. She worked as an associate counsel for the California Credit Union League where she advised credit unions on legal and regulatory matters. Prior to this, Ms. Dooley also worked for Dycorp USA Inc. and Dean Witter Reynolds. For more information, please see the notice that was published in the October 2000 Monthly Bulletin regarding Ms. Dooley’s appointment. Electronic Financial Services Survey An electronic financial services survey was sent out to all of the Department’s licensees in October 2000. With a response rate of over 63%, the survey provided valuable information and insight about DFI licensees’ uses and perspectives regarding electronic financial services. Survey Response by Licensee Group 70% Banks, thrifts, and savings & loans 69% Credit unions 73% Foreign banking organizations 53% Premium finance companies 35% Trust companies, money transmitters, payment instruments, travelers checks, and BIDCO Survey Results Websites: 50% of all respondents indicated that they had established a website. 80% of the banks, thrifts, and savings & loans that responded to the survey indicated that they had a website. 70% of the credit unions that responded indicated that they had a website. Over 60% of the survey respondents with websites indicated that they allow some degree of transactional activity. Over 65% of the banks, thrifts, savings & loans and credit unions that do not currently have a website indicated that they plan to establish one within twelve months. Approximately 10% of the survey respondents indicated they have established a kid’s website. Communicating with DFI via the Internet or other electronic means: 83% of survey respondents indicated that if the Department were to allow the submission of reports and filings electronically over secured connections via the Internet they would likely use the service. 38% stated their response would change if they would be required to obtain digital signature hardware/software to communicate with DFI over the Internet. 6% of the survey respondents indicated they are currently using digital signature technology. Thanks to all licensees who took the time to complete survey. The results of the survey will be used by the Department to develop better ways of serving its licensees and the public. For further information about the survey, please contact Mike Curran at (858) 642-4245 or by e-mail at email@example.com. New Fax Number for Licensing/Policy Section Patrick Carroll and Cari Rodriguez in the Licensing/Policy Section have a new fax number: (415) 288-8836. Please update your records accordingly. Monthly Activity Report Commercial Bank Activity New Banks Premier Valley Bank (Name amended 12/7/00 from Valley First Bank) Proposed Location: 8355 North Fresno Street, Fresno, Fresno County Correspondent: J. Mike McGowan 870 East Ridgecrest Drive Fresno, CA 93720 Phone: (559) 433-0924 Approved: 12/20/00 Unity Bank Proposed Location: 6280 Beach Boulevard, Buena Park, Orange County Correspondent: Grace Wickersham Carpenter & Company 5 Park Plaza, Suite 950 Irvine, CA 92614 (949) 261-8888 Filed: 11/3/00 Mergers Bank of San Francisco, San Francisco, with and into First Bank & Trust, San Francisco Approved: 12/18/00 Millennium Bank, San Francisco, with and into First Bank & Trust, San Francisco Approved: 12/20/00 Prime Bank, Los Angeles, with and into East-West Bank, San Marino Filed: 12/4/00 Approved: 12/20/00 Scripps Bank, La Jolla, with and into U.S. Bank National Association, Minneapolis, Minnesota Effected: 10/13/00 Application for Trust Powers Mid-State Bank 1026 Grand Avenue, Arroyo Grande, San Luis Obispo County Approved: 9/13//00 Effected: 12/18/00 Savings & Loan Association Activity Conversion to Federal Charter Luther Burbank Savings, Santa Rosa, converted to a federal savings association Effected: 10/17/00 Credit Union Activity Mergers BayTech Federal Credit Union, Santa Clara with and into Technology Credit Union, San Jose Filed: 12/5/00 Citrus and Avocado Employees Federal Credit Union, Ventura with and into California Agribusiness Credit Union, Buena Park Filed: 12/18/00 Mobil West Federal Credit Union, Torrance with and into Premier America Credit Union, Chatsworth Filed: 12/4/00 West Los Angeles Japanese Credit Union, Los Angeles with and into Nikkei Credit Union, Gardena Effected: 12/29/00 Conversions First Federal Credit Union, Sacramento Approved: 12/20/00 Kaiser Lakeside Federal Credit Union, Oakland Approved: 12/19/00 Long Beach Schools Federal Credit Union, Long Beach, as LBS Financial Credit Union Effected: 12/18/00 North County Federal Credit Union, La Jolla as North County Credit Union Effected: 12/27/00 Rockwell Federal Credit Union, Downey, as Financial Partners Credit Union Approved: 12/12/00 Effected: 12/27/00 Silicon Valley Federal Credit Union, Palo Alto Filed: 12/6/00 Star One Federal Credit Union, Sunnyvale, as Star One Credit Union Approved: 11/22/00 Effected: 12/15/00 Unipac Federal Credit Union, San Francisco, as Unipac Credit Union Approved: 12/11/00 Effected: 12/21/00 USC Federal Credit Union, Los Angeles as USC Credit Union Effected: 12/27/00 Vandenberg Federal Credit Union, Vandenberg Air Force Base Filed: 12/21/00 Ventura County Federal Credit Union, Ventura, as Ventura County Credit Union Effected: 12/27/00 Whittier Area Federal Credit Union, Whittier as Credit Union of Southern California Effected: 12/21/00 Transmitter of Money Abroad Activity New Transmitters Dollars Express International, Inc. Approved: 12/18/00 Girosol Corporation Filed: 7/24/00 Issuer of Payment Instruments Activity Voluntary Surrender of License PayMyBills.com Effected: 12/1/00 DONALD R. MEYER Commissioner of Financial Institutions Bulletin for month ended December, 2000, issued pursuant to Financial Code, Section 258 The Monthly Bulletin is available without charge via email as a PDF attachment. To subscribe, please contact Mary Ann Havens at firstname.lastname@example.org.