CUNA Mutual Not Party To NCUA/WesCorp Dispute

PLANO, Texas – Catalyst Corporate FCU has released a mobile banking solution that credit unions can, in turn, offer to members.

UTICA, N.Y. – A longtime priest in the Village of New York Mills yesterday pleaded guilty to stealing $87,000 from the church’s account at First Source FCU.

CAMBRIDGE, Mass. – MIT FCU, which serves the Massachusetts Institute of Technology, said it has renewed its lease on a 16,573-square-foot office building at 700 Technology Square.

CAPE CHARLES, Va. – NMA FCU said it plans to open a branch office on the first floor of the Cape Charles Blue Hotel by March 1.

SAN ANTONIO – Security Service FCU opened a new 5,000-square-foot branch in New Braunfels, the credit union giant’s first location in the area.

MANHATTAN BEACH, Calif. – Kinecta FCU is offering members the ability to design their credit cards using a gallery of colorful images or their own photos.

KALAMAZOO, Mich. – Consumers CU said its new Silver Lining Lending offers members an opportunity to consolidate loans with a competitively priced home equity product specifically designed for those approaching retirement.

BALTIMORE – Johns Hopkins FCU has agreed to add MoneyDesktop’s personal financial management platform to its online banking system.

LOS ANGELES – First City CU has signed with VSoft Corp. to implement the company’s image exchange and settlement solutions, including its inclearings, returns and archive services.

KANSAS CITY, Mo. – Mazuma CU said it will provide $3.3 million as part of a $7.7 million financing package to American Performance Technologies, a manufacturer of small engines for motor, power sports and lawn equipment.

WICHITA, Kan. – JP Morgan Chase on Wednesday told a federal court here NCUA’s negligence suit against top executives of WesCorp FCU proves that it was the shortcomings of corporate executives – and not any misrepresentations by the Wall Street bank’s sales force in the sale of mortgage-backed securities – that caused the failure of WesCorp and three other corporate credit unions.

PHOENIX – The prosecution’s first witness in the criminal trial of the former director of business lending at Yuma’s AEA FCU testified in federal court yesterday how the one-time credit union executive, his former close friend, convinced him to take out millions of dollars in member business loans and showered him with cash in return.

ST. PAUL, Minn. – Hometown CU opened the state’s first in-school, student-run credit union branch in Owatonna High School.

MILWAUKEE – University of Wisconsin CU plans to open a branch in nearby West Allis, on the site of a former Blockbuster store.

WASHINGTON – Georgetown University Alumni and Student FCU has named Nikhil Lakhanpal as president and CEO of the $15-million college student credit union.

MADISON, Wis. – The Wisconsin State Senate yesterday unanimously approved a bill that would double the amount a state chartered credit union may give to charities and community organizations.

WESTBROOK, Maine – TriCorp FCU is the latest corporate credit union to sign with Lending Tools to provide it with third party correspondent financial solutions for its members.

RANCHO CUCAMONGA, Calif. – CO-OP Financial Services on Tuesday said it completed the merger of Financial Service Centers Cooperative, creating a nationwide network of 4,400 shared branches and 1,700 credit union participants.

YAKIMA, Wash. – Yakima Valley CU and Catholic CU have completed their combination, creating a $475-credit union to be known as Solarity CU.