CHICAGO – The Center for Financial Services Innovation awarded $1.5 million in Financial Capability Innovation grants to five groups, including $300,000 to credit union think tank the Filene Research Institute for its study whether rewarding timely loan payments with interest rate reductions leads to better payment behavior.

WASHINGTON – Big Box retailers Target, Wal-Mart, SuperValu and Costco are urging the Federal Reserve to proceed with its bid to curb debit fees, insisting they will pass on billions of dollars in reduced charges to consumers.

CINCINNATI – Fifth Third Processing Solutions, which processes accounts for more than 1,000 credit union, said this morning it is introducing its own version of a mobile deposits solution, with 3i Infotech. The new solution, known as 3i Infotech eCapture mobile check deposit will allow credit union members to deposit paper checks anytime, anywhere by taking photos of the checks via their smartphones and submitting them through a secure electronic application provided by 3i Infotech. Fifth Third Processing and 3i Infotech will deliver the eCapture mobile check deposit solution to Fifth Third Processing’s customers via a software-as-a-service (SaaS) model. 3i Infotech provides the application, updates core banking systems and validates check images for Check 21 compliance using Mitek Systems' mobile IMagePROVE technology. Fifth Third Processing Solutions will integrate with its processing systems and thereby allow customers to get up and running quickly with minimal financial and technology investment. The initiative will begin with a pilot program involving Town and County Bank, based in Salem, Missouri. CINCINNATI – Fifth Third Processing Solutions, which processes accounts for more than 1,000 credit union, said this morning it is introducing its own version of a mobile deposits solution, with 3i Infotech.

SANTA FE, N.M. – NCUA said last night it liquidated Land of Enchantment FCU and assigned the member accounts of the one-time $11 million credit union to Guadalupe CU, a $102 million credit union also in Santa Fe. Land of Enchantment lad losses of $765,000 for 2009 and of $297,000 for 2010 and net worth of just 1% at year-end 2010. The credit union, the fifth failure of 2011, was chartered in 1951 to serve the employees of the New Mexico Department of Public Welfare.

MADAWASKA, Maine – Albert Roy, who worked for Frasier FCU (now NorState FCU) for nearly four decades until he retired as its president/CEO in 1989, passed away Feb. 24.

NORFOLK, Va. – A second man pleaded guilty yesterday to an identity theft scheme that used identifications of Navy FCU members to obtain as much as $500,000 in loans.

NEW YORK – Edcomm Banker’s Academy, a provider of online training for credit union employees, has rolled out a new training module to meet financial literacy requirements for directors recently enacted by NCUA.

COSTA MESA, Calif. – Credit bureau Experian said it became the first major keeper of consumer credit histories to include successful rent payments in credit scores.

ALEXANDRIA, Va. – NCUA reported yesterday that two more billion-dollar credit unions have been cleared for mergers: Pentagon FCU, which will acquire $12 million Trippler FCU in Honolulu; and Anheuser-Busch Employees FCU to acquire tiny St. Margaret FCU.

KILLEEN, Texas – Texas Partners FCU has contracted with CRIF Lending Solutions to provide the credit union with online loan services.

LARGO, Md. – Money One FCU said yesterday it is now offering members a HarmonyLoan mortgage, which adjusts its interest rate at the member’s call.

MOUNT PLEASANT, Mich. – Chippewa Eagle FCU, a new credit union that will serve members and employees of the Saginaw Chippewa Tribe and their families and one of only three new charters last year, opened its doors yesterday.

TAMPA, Fla. – The University of South Florida FCU is thinking outside the bullpen, and is offering a trip for two to Pamplona, Spain, for the running of the bulls for the most creative idea for saving money during the economic downturn.

WASHINGTON – Hundreds of neighborhood business are calling on the Federal Reserve to proceed with the debit interchange provisions of the Dodd-Frank Act in hopes of passing on the savings back to their communities.

Number of CUs Offering Free Checking Up 9%

WASHINGTON-More than 4,000 credit union representatives hit Capitol Hill last week to press Congress for relief from something new-interchange rules-and to explain something old-why credit unions have a federal tax exemption.

SEATTLE-Verity Credit Union is offering members of its community an opportunity to win $1,000 for themselves, plus a $5,000 donation to their favorite cause-all they have to do is turn a cartwheel on camera.

GROTON, Conn.-Charter Oak FCU here has been named Eastern Connecticut's No. 1 Mortgage Lender, based on data compiled by The Warren Group. No CU in Eastern Connecticut has ever earned top mortgage lender honors.

WASHINGTON-Credit union executives, mindful of the losses they realized on the collapse of the corporate credit union system, are slowly calculating whether to recapitalize the corporates.

WASHINGTON-No matter what actions Visa or MasterCard take in supporting a two-tier debit payment system, CU members may as well hand retailers a "hot lump of coal" instead of the CU's debit card, according to one person.