RICHMOND, Va. -- Governor Bob McDonnell announced this morning that Navy FCU has agreed to make a multi-million dollar investment to expand its member service operation in Frederick County, topping a competing bid from Florida where the credit union giant operates a huge call center.

WASHINGTON – The Treasury Department awarded almost $1 million yesterday to Native American groups to build two new credit unions on Indian reservations and to expand two others as part of its Native American CDFI Assistance program.

WASHINGTON – Freddie Mac reported a $1.2 billion second quarter profit this morning, meaning the housing giant will not require government bailout funds this quarter for the first time since its 2008 federal takeover.

WEST PALM BEACH, Fla. – Credit Union Journal is now accepting participants in one of its most popular features: the annual Day in the Life of Credit Unions project.

CORVALLIS, Ore. – OSU FCU has donated 46 computer stations over the past two months to nonprofit organizations throughout the credit union’s five-county field of membership.

FORT WORTH, Texas – American Airlines FCU has introduced its own version of mobile deposits called CUAcce$$.

INDIANAPOLIS – FORUM CU yesterday said it will offer private student loans through Sallie Mae to its members.

LIVONIA, Mich. – Parkside CU on Monday said it hired longtime credit union executive Martin Carter as president and CEO of the $78-million credit union.

ANNAPOLIS, Md. – Navy FCU plans to build a fourth branch in this state capital, home to the U.S. Naval Academy, a 10,500-square-foot facility with five drive-thru lanes.

ATLANTA – Delta Community CU has opened its 23rd metro Atlanta area branch in midtown’s historic district, across the street from The Margaret Mitchell House.

CHATTANOOGA, Tenn. – Eleven attendees to minor league baseball’s Chattanooga Lookouts last weekend won a used car, courtesy of Tennessee Valley FCU.

DETROIT – Police are hunting for five men they say have stolen about $500,000 from credit union and bank ATMs in metro Detroit by using skimming devices.

BEAVERTON, Ore. – Two community college students who used to joke about robbing a bank were spared prison yesterday and sentenced to five years of probation for robbing Rivermark Community CU last December.

WALL STREET – Vantiv, the cards processor for 800 credit unions, said Advent International, the Boston money firm that took the company public this spring, plans to cash out some of its stock at an estimated $60 million profit.

WASHINGTON – The Treasury Department awarded more than $17 million in grants to 25 credit unions and credit union organizations this afternoon under the 2012 round of the Community Development Financial Institutions Program.

As credit unions enjoy some of their strongest member growth numbers and national publicity in recent memory, NAFCU President Fred Becker is urging the industry to bring the CU message to even more consumers.

PHOENIX-A new product is available for credit unions that its provider says helps members better manage small businesses.

Now is a time lenders must pay close attention to used values, advises Ricky Beggs, VP and managing editor at Black Book.

Year On Pace To Record

MONTGOMERY COUNTY, Md.-Community banks claim they know their local communities better than megabanks, will lend to local businesses that cannot get credit elsewhere and are better equipped to spur job creation in those locales.