BROOKLINE, Mass. – Metropolitan Area FCU is now letting its members bank by Facebook.

RALEIGH, N.C. – Credit unions, fresh off new legislation enabling savings contests, are working to develop a statewide savings sweepstakes that could award savers a $100,000 grand prize.

WALL STREET – Visa and MasterCard shares soared yesterday after the Federal Reserve lifted the air of uncertainty over the debit card market and passed new rules that will mean more revenues for the two card networks.

BROOKFIELD, Wis. – The flurry of takeover activity continued to heat up yesterday in the payments sector with Fiserv announcing a deal to acquire CashEdge, the privately owned provider of P2P and other digital payment technologies.

WASHINGTON – The Federal Reserve this afternoon approved a more liberal cap on debit fees than what was proposed in December, but the cap will still cost credit unions and banks billions of dollars in annual revenues.

WASHINGTON – The Federal Reserve has agreed to concerns by banks and credit unions and will vote this afternoon on a proposed cap on debit fees that is higher than the December proposal and will include fraud costs.

ST. LOUIS – A federal appeals court this morning declined a request by Minnesota’s TCF Financial to block the Federal Reserve’s final rule on debit caps, clearing the lastl hurdle for a vote on the rule later this afternoon.

ALEXANDRIA, Va. – NCUA approved a program this morning allowing credit unions to voluntarily prepay hundreds of millions of dollars in interest-free corporate stabilization assessments in order to defray the long-term costs of the stabilization plan.

WEST PALM BEACH, Fla. – Credit Union Journal still is accepting entries for its 2011 Best Practices Awards, but only until this Friday.

SYVLVANIA, Ohio – Directions CU said its longest-serving volunteer, Joe Vance, is stepping off the board of the $500 million credit union after 50 years.

CHARLESTON, W.Va. – West Virginia FCU said yesterday it hired Nick Arvon, president of Charleston Area Medical Center FCU, as president and CEO of the $166 million credit union.

AUGUSTA, Maine – Synergent said yesterday it has contracted with Caringo Inc. to provide it with management and protection of hundreds of millions of check images and transaction receipts generated by credit union members.

CLARK, N.J. – CU Student Lending, marketer of the cuStudentLoans private student loan program, rolled out a member referral program that allows credit unions outside of its lending network to offer loans to members.

MILFORD, Conn. – GE Employees FCU said yesterday it signed with Vantiv, formerly Fifth Third Processing Solutions, for ATM and debit card transaction processing, ATM driving, card production and network gateway access.

PROVO, Utah – Utah Community CU has introduced mobile money management applications for iPhone and Android mobile smartphones.

LIVE OAK, Texas – Randolph-Brooks FCU signed with Fiserv to implement the company’s Acumen accounting processing solution.

NORFOLK, Va. – A local tax accountant this week pleaded guilty to helping dozens of people file phony auto loan applications with Navy FCU on behalf of his tax preparation clients, a scam that drained more than $550,000 from the credit union.

MANHATTAN BEACH, Calif. – Kinecta FCU said it is offering financial incentives to home agents who sell a house using a HomePath mortgage, which are financing Fannie Mae-owned properties.

MECHANICSBURG, Penn. – AmeriChoice FCU is walking down the aisle with young couples in south central Pennsylvania during a reality TV show about nuptials that explores the finances of marriage.

LAS VEGAS – Troubled Silver State Schools CU said this afternoon David Rhamy, its CEO since 1999, will retire July 11 and be succeeded by Andy Hunter, the former president of California’s Patelco CU.