A new 22-page report authored by consultant Marvin Umholtz closely profiles Oregon CUs, comparing them to community banks and saying there is little difference, and in the process raises the issue of CU taxation.

Navy Fed Adds 600,000th Member

It's easy to forget sometimes there remain leaders at credit unions who didn't enter the industry as a freshly minted MBA pursuing a careful "career path." Who began at the bottom with no map for what was ahead. Teri McEwan is one of those people.

A synopsis of a new white paper from the CUNA Lending Council, "Demystifying Private Student Loans," that seeks to clear up some of the misconceptions as well as examine the portfolios of five credit unions that offer these loans.

Our industry has never held as many mortgages as it currently does, and if rates rise rapidly it could result in a catastrophic event. It is vital that CUs have the tools to mitigate this risk.

EAST LANSING, Mich. – Michigan State University FCU marked today’s celebration of Martin Luther King Day with an announcement Sunday at a concert in honor of Martin Luther King Jr. that it is contributing $1 million to the MSU College of Music to establish a jazz artist-in-residence program.

A selection of images featuring credit unions’ efforts in their communities.

NEW BERLIN, Wis. – Landmark CU said this morning that Jay Magulski, its president and chief operating officer, has been named CEO of the $2 billion credit union.

RALEIGH, N.C. – State Employees CU this morning opened its own life insurance company which will provide members of the country’s second largest credit union with simplified issue term and whole life policies, single premium deferred and immediate fixed annuities.

TEMPERANCE, Mich. – The manager and sole employee of tiny United Catholic CU was sentenced yesterday to 45 months in prison for stealing $2.6 million over more than 30 years from the now-failed credit union, which never claimed more than $500,000 in assets.

ELGIN, Ill.-Lending Solutions, Inc. (LSI), has established an employee stock ownership plan (ESOP) that effectively transfers 30% ownership in the firm to its employees through a defined contribution benefit plan.

COLUMBUS, Ind. – Centra CU has acquired the former Kiel Bros. Oil Co. headquarters to house administrative staff.

CLIFTON PARK, N.Y. – Cap Com FCU has signed a contract with the Shen Board of Education to open a branch inside the Shenendehowa High School East next fall.

WABASH, Ind.. – Beacon CU paid members a loyalty dividend of more than $806,588 on Dec. 31.

ARVADA, Colo. – Partner Colorado CU paid its members a special dividend of $700,000.

NEW ORLEANS – Cabot and NOI Employees CU said it signed with SIGNiX to use the company’s digital signature service for online signatures.

TAMPA, Fla. – Suncoast Schools FCU said it has installed new ARCA CM18 cash recycling machines in 13 of its 53 branches, with additional cash dispenser upgrades to be made later this year.

WASHINGTON – Mortgage rates eased this week, hovering near all-time lows, according to Freddie Mac.

ALEXANDRIA, Va. – Congress is again planning to freeze salaries for federal employees, which could mean NCUA will be left with an additional $12.8 million it had planned to spend on pay raises and related benefits for its 1,260 employees.

LAREDO, Texas – A former employee at Laredo FCU faces up to 25 years in prison for flashing a gun while robbing the credit union where he used to work.