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WASHINGTON - New NCUA Chairman Michael Fryzel promised last week to monitor credit unions closely during the ongoing financial crisis, that is pushing many institutions, including credit unions, to the brink.

HAMPDEN, Maine - The small, single-sponsor credit union advantage is a close relationship with its members. The challenge is maintaining that edge after a field of membership expansion.

WASHINGTON - Credit unions were dipping their feet back into the secondary mortgage markets last week after the federal government takeover of financially troubled Fannie Mae and Freddie Mac, while prospects for billions of dollars in credit union investments in the two companies were brightening.

DECATUR, Ill. - Sometimes keeping it simple can pay huge dividends.

MADISON, Wis. - When it comes to members with mortgage problems, there is a disconnect between what NCUA is saying at the board level and what examiners are saying when on-site, credit unions are reporting.

SAN JOSE, Calif. - Another state charter in California was placed into conservatorship last week when regulators took over the $257-million Valley CU.

ALEXANDRIA, Va. – More large credit unions than ever before – including 16 billion-dollar institutions – sunk into the red for the first half of the year, according to data submitted to NCUA.

CHICAGO - Credit unions in all regions of the country should be revisiting and thoroughly documenting the thinking behind all policies and procedures as state and federal regulators toughen the examination process, according to one CPA firm.

WASHINGTON - The Federal Deposit Insurance Corp. (FDIC) boosted reserves more than 2,000% during the second quarter to cover the costs of bank failures. FDIC said it was reserving $10-billion during the second quarter after the number of banks and thrifts on its "problem list" increased by more than 30% to 117. As a result of the enormous loan loss provision the FDIC's reserve ratio declined 18 points to 1.01%. That, in turn, should mean higher premiums in 2009 for banks and thrifts insured by the FDIC.

ALEXANDRIA, Va. - Credit union members continue to save more than they are borrowing as the economy stifles economic activity. Mid-year data released by NCUA shows savings were up significantly during the first half of the year at 7%, compared to 3.7% for loans. Overall assets grew 6.5%.

LAS VEGAS - The president of one corporate credit union is urging credit unions to maximize their balance sheets by better utilizing "leverage."

SAN DIEGO - Perhaps appropos of the just-concluded Olympics, Fred Becker quotes Chinese philosophy in looking at what's ahead for credit unions.

WASHINGTON – While Fannie Mae and Freddie Mac post red numbers, the news isn’t so gloomy for all. For second quarter 2008, 10 of the 12 Federal Home Loan Banks turned a profit.

PETERBOROUGH, N.H.–Just five credit unions sold their card portfolios during the second quarter, a marked decline in such sales by CUs.

SINGAPORE – As the global financial crisis worsens at least one large U.S. bank is going to collapse within the next few months, according to the former International Monetary Fund’s chief economist. Kenneth Rogoff said that despite hopes that the U.S. economy had turned the corner, it is "not out of the woods."

WASHINGTON – As reported earlier in Credit Union Journal, NCUA has indicated many credit unions will see a downgrade in their CAMEL ratings this year due to a combination of economic factors and the agency’s own tougher standards. Now the FDIC, which insures the nation’s banks, indicated it, too, is pushing other agencies to more forcefully downgrade the confidential rating – which is known only to regulators and bank management – of troubled financial institutions, according to people familiar with the talks.

TUKWILA, Wash. - After revamping its pricing structure and keeping its focus OFF of growth, Boeing Employees CU is enjoying results that not only put it at the top of national peer rankings but also is allowing the CU to do the one thing it isn't focusing on-grow.

LAS VEGAS - This is "Go Time" for credit unions, and they need to change the way they do business.

LAS VEGAS - Safety and soundness questions spotlighted by the IndyMac Bank failure as well as the more typical governance issues sparked passionate discussion at a recent conference for credit union directors, here.

DENVER – Payments processor First Data Corp. yesterday said financing costs for last year’s $27 billion takeover by Kohlberg Kravis Roberts & Co. pushed it into the red to the tune of $160.6 million for the second quarter, compared to a profit of $228.9 million for the same period last year.