ALEXANDRIA, Va.-NCUA said last week that its corporate credit union resuscitation plan will require the surviving corporates to hold pledged capital in escrow accounts for the short-term so that all capital may be refunded to members if their corporate does not achieve the agency's new minimum capital standards by Oct. 2011.

NCUA Calls On Corporates To Submit Business Plans ASAP

Members 1st Opens New Site

The NCUA Board last week approved a new financial literacy rule for the nation's 75,000 volunteer credit union directors requiring for the first time that each director obtain a minimum ability to read a credit union income statement and balance sheet.

Lending Solutions Signs 30 CUs

ELGIN, Ill.-Corporate America Family CU is one of the first credit unions to offer person-to-person payments through S1 Corp. and its PM Systems subsidiary's new deal with PayPal.

The Members Group, Des Moines, Iowa, has added three employees to its team: Anil Amuluru joined as a contract developer, Andrea Langford arrived as a customer service representative, and Karen Gates signed on as a project representative.

CU Member Wins $10K

NCUA'S CORPORATE FIRE SALE RAISES ALMOST $18 BILLION

WEST PALM BEACH, Fla.-Ever find yourself thinking of a newspaper article you once read and then wondering, "Whatever happened to?" Credit Union Journal reported more than 1,000 news in 2010, and in this issue continues an annual tradition in our last issue of the year by following up on some of the stories we reported. Find answers to "Whatever happened to ...?"

CUNA Urges NCUA To Freeze Pay

January

What better way to remember 2010 than to look back at excerpts of Facebook postings in the CU community?

A dramatic shift in consumer communication preferences is taking place around the world-with a direct impact on how credit unions are managing cases of potential fraud.

The article "Industry To Fight New NCUA Power Grab" had me pulling out my Lucky Mojo Curio card of St. Jude, the Patron Saint of "Lost Causes" and rolling my eyes over "much ado about nothing."

Well, there you have it! A person writes a letter to the editor and complains about the federal regulatory oversight and in fear of retaliation they withhold their name. This is not a good sign.

When the corporates were taken over, NCUA insured 100% of the deposits. If the institution was not an insured institution-NCUA SHOULD HAVE CUT THEM A CHECK FOR $250,000 AND WISHED THEM A NICE DAY.

WASHINGTON – What is expected to be the final effort to get the increased in the member business loan cap passed in this Congress failed Sunday in the Senate when one key senator objected to a proposal to vote the bill.

ALEXANDRIA, Va. – A story in last Thursday’s Credit Union Journal Special Bulletin about NCUA’s new rules requiring financial literacy training for directors incorrectly stated the rule also requires credit unions converting to banks to notify members about the possibility of a liquidating dividend instead of conversion. That provision only applies to when a credit union is being purchased by a bank.

WEST COVINA, Calif. -- Two men robbed a First Financial CU branch and pistol-whipped a member during a takeover-style robbery Friday morning.