An advertisement in the Washington newspaper Roll Call is attacking credit unions in a manner reminiscent of an ad run years ago by banks — but this time the bankers are on the same side.

The National Credit Union Administration approved a $1 billion charge Thursday to pay for the corporate credit union bailout. The corporate assessment comes after last year's charge of $1.1 billion, which included $337 million for the first year of the corporate bailout and the remainder to replenish reserves for the National Credit Union Share Insurance Fund.

FARMINGDALE, N.Y. – Teachers FCU opened a new branch in Oakdale and celebrated with a patriotic theme that featured American flags and an opening rendition of the Pledge of Allegiance by a local veteran.

EDWARDSVILLE, Ill. – City officials voted to expand the local enterprise zone to include a proposed headquarters for Scott CU, which would save the $600 million credit union as much as $800,000 in property taxes over 10 years.

WEST

After taking a measured approach in repaying the Treasury Department earlier this year, Boston Private Financial Holdings Inc. is moving forward in earnest.

StellarOne Corp. of Charlottesville, Va., wants to raise up to $60 million in capital, mainly to improve its liquidity and capital, and to repurchase its Troubled Asset Relief Program investments.

Encore Bancshares Inc. of Houston has filed a shelf registration with the Securities and Exchange Commission to raise up to $75 million in capital.

A month after holders of trust-preferred securities scoffed at a heavily discounted exchange, Pacific Capital Bancorp in Santa Barbara, Calif., has agreed to raise its offer.

The $2.6 billion-asset Denver company said Tuesday that it had agreed to buy Legent Clearing LLC, an Omaha securities clearing firm, for $13 million in cash and $2.7 million in stock. The timing is noteworthy: United Western faces a June 30 deadline to raise capital at its thrift.

WASHINGTON — The House is expected to pass legislation today that would create a $30 billion fund for community banks to boost lending to small businesses, but the bill faces an uphill battle in the Senate.

BETHLATO, Ill. – Olin Community CU broke ground this week on a new 10,000-square-foot branch in the city of Wood River.

LANSING, Mich. – Michigan State University FCU said it plans to spend about $3.5 million to renovate an old restaurant into a new branch.

BATTLE CREEK, Mich. – Founders of the newly chartered Inspire Community Development CU held a grand opening Monday to celebrate the state’s latest CDCU, Michigan’s first new credit union in 25 years.

HIGHLAND FALLS, N.Y. – Navy FCU will open a branch here June 28 near the U.S. Military Academy at West Point, the credit union’s 181st service facility.

NASB Financial Inc. in Grandview, Mo., reported earnings of $3.2 million for the quarter that ended March 31, down 32% from a year earlier. The $1.4 billion-asset company announced the earnings late Monday, saying its second-quarter results were driven by increased credit costs.

CNB Financial Corp. in Clearfield, Pa., Tuesday announced the pricing of its $29.7 million common stock offering. The $1.2 billion-asset company said it will sell 2.9 million shares at $10.25 a share, a 10.6% discount to the company's closing stock price on June 8, the day before the capital-raising effort was announced.

MidFlorida Credit Union, one of the state's healthiest big credit unions, has agreed to acquire the troubled Bay Gulf Federal Credit Union in the latest in a series of large credit union mergers shaking up the market in the Sunshine State.

The $2.2 billion-asset company announced Tuesday that it has received $35 million of fresh capital through a private placement led by Aquiline Capital Partners LLC, a New York private-equity firm that includes former Wachovia Corp. Chief Executive Ken Thompson.

IMGCAP(1)]