SAN ANTONIO – Firstmark CU began construction on a new Alamo branch, which will be the $700 million credit union’s 11th service center.

BEAVERTON, Ore. – Rivermark CU said it has signed with Credit Union Student Choice to offer the CUSO’s private student loans to its members.

PORTLAND, Ore. – Unitus Community CU pledged yesterday to continue offering free checking and free online services such as bill pay even as many banks are beginning to charge fees for the once-free services.

MADISON, Wis. – A special loan that lowers interest when members pay on time, a small business incubator for Gen Yers and a 60-day return policy for loans are among the new innovations being proposed by the Filene Research Institute’s i3 group.

WASHINGTON – Credit union and bank lobbyists hope to convince senators who voted overwhelmingly for last year’s Durbin amendment on debit interchange and may have buyer’s remorse to change their vote and approve a proposed delay.

“The Board of Directors determined that the completion of a transaction on acceptable terms was unlikely at this time and that the best course of action to achieve the highest shareholder value is to continue to aggressively pursue our long-term strategic growth plan,” said Joseph Cowan, president and chief executive officer of Online Resources. “We have identified clear objectives to re-focus and maximize our technology, products and organizational structure to drive revenue and earnings growth. We are bullish about the opportunities that lie ahead for Online Resources.” The company’s shares surged almost 50% January 21 after Online Resources disclosed it was evaluating unsolicited merger offers. No suitors were ever identified but industry experts said the most likely candidates were Fiserv, Jack Henry & Associates and Western Union. Meantime, Online Resources reported a $2 million loss for its fourth quarter, and a $4.2 million loss for its fiscal year. Fourth quarter revenues slid 1% to $37.8 million, while fiscal year revenues declined almost 2% to $149.5 million.CHANTILLY, Va. – Online Resources Corp. said this afternoon it has rejected potential takeover offers and will go it alone for the foreseeable future.

WASHINGTON – Sen. Richard Durbin issued a rapid response to today’s introduction of a bill to delay his debit interchange amendment: No. “Every month we delay limiting the amount banks and credit card companies charge merchants means another $1.3 billion bailout for Visa, MasterCard and their big bank allies,” said the Illinois Democrat, who is assistant Majority Leader of the Senate. “The $13 trillion banking industry doesn’t need another handout - especially one paid for by small business and American consumers. I will strongly oppose any attempts to line the pockets of the credit card giants and Wall Street banks by delaying this common sense, pro-consumer legislation.” A Durbin representative told the Credit Union Journal he doubts today’s bill, which would delay implementation of the interchange amendment for two years, will even get a vote on the floor of the Senate, where Durbin is an influential player. “Each month,” said Durbin, “card companies like Visa and MasterCard require small businesses, merchants, charities, universities and government agencies to pay more than $1.3 billion in non-negotiable debit interchange fees to the banks that issue debit cards. Of the $16.2 billion in annual fees, half is estimated to go to just ten giant banks. Interchange fees are fixed by Visa and MasterCard on behalf of their big bank allies. There is no competition in the interchange market and the Visa and MasterCard duopoly continues to raise fees which are passed on to consumers in the form of higher retail prices for gas and groceries.” Durbin’s remarks came just two hours after a bipartisan group of Senators, backed by credit unions and banks, introduced a bill to delay the July 21 implementation deadline of the interchange amendment, which would slash fees charged merchants by credit unions and banks by as much as 70% and open the market to new competition.

WASHINGTON – Senator Jon Tester will introduce a bill later today that would delay implementation of the controversial rule on debit interchange for as long as two years while NCUA and bank regulators study its impact on credit unions and community banks, with a similar bill to be introduced later in the House. The Montana Democrat’s bill sets up a showdown with Assistant Senate Majority Leader Richard Durbin, the Illinois Democrat responsible for the interchange amendment in last year’s Wall Street reform bill. Durbin’s intransigence on the issue means that supporters of the delay will probably need 60 Senate votes to overcome a Durbin filibuster–a steep requirement because Durbin’s interchange amendment easily passed the Senate last spring by a 64-to-37 vote. A separate bill being drafted in the House would also delay the interchange rule but for a year, not two, while regulators, including the Federal Reserve, NCUA, FDIC, Office of Thrift Supervision, and the Office of the Comptroller of the Currency study two aspects of the provision: the costs associated with debit transactions and the effect of the Fed’s proposal on consumers, merchants and card issuers, and the network exclusivity and routing reqirements. The two bills come as time is running short to stop the interchange amendment, as the Fed is required to approve a final rule by April 21 and implement it by July 21. Credit unions and banks have mounted opposition to the rule–engineered by the powerful merchants lobby–which would cap fees on debit interchange to as little as 12 cents per transaction and open the debit market to new competition by setting new requirements for routing and network exclusivity. The stakes in the battle are enormous, with merchants paying credit unions and banks $20 billion a year in debit interchange, some $2.5 million alone to credit unions.

LOS ANGELES – Cloudworks has announced the launch of two new data centers in Arizona and Maryland, through its recent partnership with credit union-owned Ongoing Operations, that provide cloud-based IT solutions aimed at the financial services industry.

BOSTON – LPL Financial, which provides broker-dealer services to more than 1,000 credit unions, on Monday said it will consolidate its UVEST Financial Services subsidiary onto its self-clearing platform.

KALAMAZOO, Mich. – Educational Community CU is offering 19 $1,000 scholarships and two $2,000 scholarships in its annual program.

VIENNA, Va. – Navy FCU said it awarded $1,000 grants to 30 nonprofit organizations on behalf of Navy Federal’s volunteers to service groups in communities served by the $44 billion credit union.

TICONDEROGA, N.Y. – Ticonderoga FCU collected 111 used cell phones to donate to the STOP Domestic Violence Center of Essex County.

NEDERLAND, Texas – DuPont Goodrich FCU presented one of its members with a four-day cruise to a location of her choice and a $4,000 voucher toward the purchase of her next car, as part of the celebration of the credit union’s 10th branch.

CONYERS, Ga. – The future of Church in the Now is in doubt as Evangelical Christian CU, one of the biggest church lenders in the country, has filed to foreclose on its properties.

DENVER – Westerra CU has signed on as presenting sponsor of the Colorado Rapids, the 2010 Major League Soccer championships.

SAN DIEGO – Pentagon FCU and North Island CU have signed a correspondent mortgage contract under which North Island will offer home loans originated by the Virginia-based credit union giant.

PIERRE, S.D. – A leading consumer group filed a brief in federal court calling for the judge to reject the pleas by credit union and bank groups to block implementation of the Durbin amendment on debit fees, saying consumers will benefit from regulation of the $20 billion-a-year market.

FARMINGVILLE, N.Y.-Credit unions need to take a closer look at B and C credit this year, because biggest opportunity lies in auto loans.

COLORADO SPRINGS, Colo.-The growing pain at the pump could translate into growing pain in the portfolio.