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LAS VEGAS — Congress and President Obama OKd the corporate stabilization bill, but CU CFOs say there's still a lot of uncertainty and confusion about how to account for the assessment and impairment — and how to tell how well a credit union is performing.

WASHINGTON — NCUA worked behind closed doors with representatives of the Federal Reserve and the Treasury to ensure both corporates and natural person credit unions had adequate sources of liquidity available as the corporate system was showing signs of a meltdown last fall, NCUA Chairman Michael Fryzel told lawmakers last week during hearings on the corporate credit union bailout.

WASHINGTON — NCUA was already planning last week to stretch out the costs of the corporate credit union bailout after Congress passed legislation giving the federal regulator vast new powers.

SEATTLE – The Federal Home Loan bank of Seattle, which has been struggling with a large portfolio of underwater mortgage-backed securities, reported a $467 million capital deficiency yesterday as part of first quarter financials.

CARSON CITY, Nev. – Greater Nevada CU, which followed a $7.9 million loss for 2008 with a $4 million operating loss for the first quarter, announced yesterday it is closing two branches.

WASHINGTON – Five Federal Home Loan Banks have delayed reporting their first quarter financials while they grapple with new accounting rules to help minimize losses.

DEARBORN, Mich. – Regulators on Friday took over Rouge Employees CU, the credit union serving employees of Ford’s famed Rouge River auto plant, and merged the remnants of the failed credit union into Chief Financial FCU, the Pontiac-based auto workers credit union.

HARRISBURG, Penn. — The corporate assessment won't slow Pennsylvania State Employees CU's strategic plans for 2009, especially its objective to build a new headquarters.

BAXTER, Minn. — Despite the corporate assessment, Mid Minnesota FCU continues to follow its strategic plan without a great deal of impact to the ALCO and its 2009 plans. However, it is making some temporary adjustments to employee compensation and benefits, as well as to travel and conference attendance guidelines.

LATHRUP VILLAGE, Mich. — Fortunate to have a very strong 14.13% capital position-and that's after the NCUA assessment-Michigan First CU remains confident that it will be able to meet its overall 2009 strategic goals.

MANCHESTER, N.H. — While St. Mary's Bank clearly understands the impact of the corporate assessment on the credit union, it does not currently plan to chart a new strategic course.

BEAVERTON, Ore. — The corporate assessment has kept the $2-billion First Technology CU ALCO busy, revising its 2009 strategic plan twice, explained CFO Hank Sigmon.

CORONADO, Calif. — With the average American (including CU employees) scoring an "F" in Financial Literacy 101, there can be bottom-line benefits to improving that grade, according to two experts.

CORONADO ISLAND, Calif. — Successful, growing credit unions all have one thing in common: a committed focus to being just that: successful, growing credit unions.

CORONADO, Calif. — Don't let that Gen X and Gen Y marketing focus cause your credit union to lose sight of the value of the Baby Boomers.

CORONADO, Calif. — A couple of credit union leaders who have ignited product innovation in their own state are now looking to ignite it in others.

WEST PALM BEACH, Fla. — The costs of the corporate assessment are causing course corrections-big and small-at credit unions across the country, sending many asset/liability committees back to the drawing board.

LAKE BLUFF, Ill. — Many credit unions are at least 50% over-staffed, says one industry analyst who suggests that now is the "perfect time" to do something about that.

CORONADO, Calif. — DFCU Financial CEO Mark Shobe offered the following advice and strategies for a credit union to build an ongoing Patronage Dividend strategy:

CORONADO, Calif. — A single-minded focus on watching its expense ratio and building capital over a period of years has now created a competitive phenomenon for one rapidly growing credit union.