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MADISON, Wisc.-With credit union losses from Hurricane Ike totaling $10.2 million to date, 2008 will go down as one of the tougher years for natural disasters in the CU community, CUNA Mutual Group is reporting.

ARLINGTON, Va.-The market and economic crashes of 2008 are forcing some new thinking of a 2007 study that had suggested credit unions may be overcapitalized.

CLARKSVILLE, Tenn. – Fort Campbell FCU announced yesterday it paid members a patronage dividend for the fourth year in a row, a $1.5 million payment this year.

BILOXI, Miss. – Keesler FCU announced yesterday it is paying its members a $3.5 million bonus dividend on New Year’s Day.

PEORIA, Ill. – CEFCU said it paid its members an extraordinary dividend of $6 million, the eighth straight year for a year-end payout.

ALEXANDRIA, Va. – The National CU Share Insurance Fund, which has been battered by growing losses among California credit unions, is expected to take another big hit from the newly announced deal to sell the remnants of one-time $305 million Valley CU to Illinois credit union giant Citizens Equity Financial CU.

HARRISBURG, Penn.-Being a "virtual" credit union has its advantages, says Greg Smith, CEO of Pennsylvania State Employees Credit Union, who believes that operating almost "branchless" has helped his shop withstand the recession and grow loans by $250 million this year.

WASHINGTON-With Congress and Treasury highly focused on the state of financial services, could this be the opportune time to push for capital reform for credit unions?

WASHINGTON-Plans by NCUA to use the emergency loan fund, known as the Central Liquidity Facility, as the linchpin of a long-term rescue of the credit union system will be decided by Congress, soon after lawmakers return to Capitol Hill early next year.

LANSING, Mich.- Credit unions throughout the Midwest, many of which are sponsored by automakers, have unveiled a plan to help General Motors by providing as much as $10 billion in low-rate loans to purchasers of GM brands.

WEST PALM BEACH, Fla.-In search of funds, banks are bidding up certificate rates across the country, forcing credit unions to rethink their pricing. In a special report in this issue, members of the CUNA CFO Council share with Credit Union Journal their response strategies for dealing with the increased rates without jeopardizing ALM. Read about the tactics they are using by clicking on the related links at right.

CFO: Dan Leclerc

CFO: Tim Lukomski

CFO: Jose Garcia

SVP: Carolyn Jordan

CFO: Peg Lamb

WASHINGTON-The credit union lobby was working last week to gain consensus on a rescue plan for troubled credit unions.

SUNNYVALE, Calif.-The news from the housing market appears to be nearly all bad, but one credit union is hanging its successful hat on real estate loans.

FAIRBORN, Ohio – Wright-Patt CU said it will pay its members a $3 million special patronage dividend on January 15 to help celebrate a successful year.

LENEXA, Kan. – The Credit Union of Johnson County said yesterday it has completed the merger of Free State CU, the ailing one-time conglomeration of four smaller credit unions.