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ORLANDO, Fla. – A group of borrowers from all over the country filed suit in federal court last week claiming a massive membership fraud at Huron River Area CU, the Michigan credit union that financed speculative real estate deals in south Florida that helped cause the failure of that and two other credit unions.

TAMPA, Fla. – GTE FCU, which has been trimming expenses to cope with the region’s economic downturn, said it is permanently closing it City Hall branch.

LANSING, Mich. – State regulators reported Friday they have approved three more credit union mergers, including one of a troubled automotive parts credit union.

WASHINGTON – Bank regulators shut three more banks Friday, including $7 billion Corus Bank, the Chicago-based lender to condominium development developments in the so-called Sand states.

RIVERSIDE, Calif. — Sudden losses from its indirect loan program combined with expenses related to the NCUSIF stabilization have led regulators to merge Service Plus CU into the $8-billion SchoolsFirst FCU.

FOREST GROVE, Ore. — Despite all of the talk and focus on mergers within the credit union community, 2009 is shaping up to be the fourth straight year in which the number of CU mergers actually declined.

IRVINE, Calif. — The marketing advantage credit unions have enjoyed over banks during the recession could be slipping away.

TOOELE, Utah – HeritageWest CU announced the departure of its long-time CEO Steve Christensen and the promotion of Bruce Bryan, its chief operating officer, as his successor as president and CEO of the $300 million credit union.

SACRAMENTO – State regulators said they have received applications for two more credit union mergers, and have approved the merger of troubled Service Plus CU into SchoolsFirst FCU.

JACKSONVILLE, Fla. – Fidelity National Information Services said regulators have given it clearance to acquire Matavante Corp., combining the two key back-office service providers for credit unions and banks in a $3 billion stock-swap.

SEWICKLEY, Penn. – PA HealthCare CU held a ‘Whole 9 Yards’ promotion yesterday for all of nine hours–offering a $999, 99-Day CD at 9% to commemorate the day 09/09/09.

RICHARDSON, Texas – Texans CU filed a Chapter 11 bankruptcy petition yesterday for its Texans CUSO Insurance Group unit, because of a $6 million judgement against it by the company’s former owner.

RIDGECREST, Calif. – AltaOne FCU, which has been struggling with large losses, announced last week it is closing its branch in Mammoth Lakes effective Oct. 2 because of the poor economic climate.

CHICAGO - When NCUA examiners told Bohdan Watral that his credit union had set aside too much in loan loss reserves, the CEO of Selfreliance Ukrainian American FCU responded, "You never know what's coming around the corner."

HARRISBURG, Penn. - Pennsylvania State Employees CU plans to rebuild capital by leveraging its cost-effective branchless model and being aggressive with lending.

BOSTON - With economic turbulence swirling all around, the key to the credit union movement's future will be for CUs to do more than just survive — they must strive to boost earnings.

MADISON, Wis. - Capital levels at CUs across the country have recovered nearly to their fall 2008 highs, according to CUNA monthly survey. A surge in deposits in July helped to bolster the cooperative movement's capital position.

LAS VEGAS - While many in the credit union movement see alternative capital as a positive, one analyst says be careful what you wish for.

BOSTON - State regulators and examiners from across the country met up at the National Association of State Credit Union Supervisors (NASCUS) Annual Summit here. Credit Union Journal caught up with a few of them to ask: "Where does your biggest concern lie right now when it comes to examining credit unions?"

HAMPDEN TOWNSHIP, Penn. – Members 1st FCU bought the troubled Coliseum Entertainment Megaplex at yesterday’s bankruptcy auction after no one bid on the property.