ALEXANDRIA, Va. – It was no small irony that moments after voting to bar corporate credit unions from investing in risky investments known as collateralized debt obligations – CDOs for short – the NCUA Board gave its approval to a plan to shed as much as $50 billion in toxic mortgage-backed securities held by the corporate system by repackaging them for sale to the public as CDOs.

NEW YORK – Credit unions awoke Saturday morning to the types of negative headlines that have described failed brokerages and mega-banks the past two years.

ALEXANDRIA, Va. – NCUA, which a year ago had pegged the cost of the corporate credit union bailout at approximately $7 billion, last week said the projected cost to credit unions has escalated to as much as $16.1 billion.

NCUA said it took under conservatorship three more troubled corporate credit unions this afternoon as part of is effort to shed the corporate system of toxic assets.

The NCUA Board's new corporate credit union rules will bar corporates from investing in a variety of risky investments.

ALEXANDRIA, Va. – A 21-year-old women who robbed five area institutions, starting with Apple FCU last February, on Thursday was sent to prison for 15 years.

MIDLAND, Texas – Dow Chemical Employees’ CU raised $25,147 for United Way of Midland County’s 2010 campaign.

ALEXANDRIA, Va. – CommonWealth One FCU is paying members up to $1.50 per bill to teach them how to enroll in its online bill payment service.

WASHINGTON – Mortgage rates were unchanged this week, holding at five-decade lows, according to Freddie Mac.

SAN FRANCISCO – Patelco CU said yesterday it has signed with Fiserv to implement the company Acumen web-based core processing system.

WEST JORDAN, Utah – Mountain America CU has implemented ProPay’s LenderPay software, which allows members to make secure house payments, car payments and fund accounts using any Visa, MasterCard, Discover or American Express card.

ARLINGTON, Texas – A teller at Texas Trust CU who first appeared to be a victim in a $183,000 robbery is accused of orchestrating the crime from the inside, even sending the robber text messages telling him not to forget his sunglasses and warning about a co-worker who “screams at scary movies.”

CHILDERSBURG, Ala. – Coosa Pines FCU has acquired a branch in Birmingham by taking over Jefferson Community Development FCU, a failed $1.6 million credit union.

WASHINGTON – The Treasury Department said it has awarded Genesee Co-Op FCU a $300,000 long-term secondary capital loan, the second credit union named in the program funded by leftover Troubled Asset Relief Program funds.

WILKES BARRE, Penn. – The credit unions’ aging congressional champion Paul Kanjorski, who narrowly won over Hazleton Mayor Lou Barletta in 2002 and 2008, is facing the determined Republican challenger a third time – and this time the 73-year-old incumbent appears to be in for the run of his political life.

WALL STREET – NCUA is seeking bids on about $800 million of commercial mortgage-backed bonds collected from U.S. Central FCU and WesCorp FCU, the opening efforts on its bid to securitize as much as $50 billion in troubled mortgage securities held by the corporate credit unions.

BIRMINGHAM, Ala. – A federal appeals court has upheld the right of Corporate America CU to sue RubinBrown LLP over a valuation the St. Louis firm provided U.S. Central FCU in the conversion of $450 million of member capital in the fall of 2008 just weeks before all of the capital was wiped out by massive losses at U.S. Central.

MIAMI – The FBI is offering a $40,000 reward for information leading to the arrests of two men who robbed six south Florida institutions in the last 10 months, including two credit unions: City County CU branches in Pembroke Pines and in Miramar.

MECHANICSBURG, Penn. – Members 1st FCU raised $4,000 for Uplifting Athletes, a national nonprofit organization aligning college football with rare diseases and raising them as a national priority through outreach, research, education, and advocacy.

PASADENA, Calif. – Pasadena FCU will celebrate its 75th anniversary with its first commissioned artwork Thursday in the lobby – a 90-square-foot mural, “Building Pasadena,” painted by Art Center College of Design alumnus Jerry Ortega.