CHEEKTOWAGA, N.Y.-Andrew Godfrey has been managing Cheektowaga Community FCU for 16 years, and the family run operation is in good shape, with 14% loan growth last year, 19% deposit growth, and capital at 15.5%. Still, with the CU going to a community charter, it is looking for ways to capitalize on the opportunity, but admits it can be challenging for an $8.9-million CU to stand out. Godfrey spoke with Credit Union Journal about the challenges ahead.

Seeking to tap the collective knowledge of the credit union community, this is the first in a series being launched by Credit Union Journal focusing on specific small CUs and their challenges. Readers are invited to share their advice and insights with the featured CU. Cheektowaga Community CU can be contacted at cheektowagacentralfcu.net, ccfcu@roadrunner.com, or 716.684.1741.

Assets: $8.9 Million

Equifax Releases New Tools

SAN BERNARDINO, Calif.-Fast-growing Alaska USA FCU, which entered the California market with last year's acquisition of two failed credit unions near here, has finalized an agreement with Arrowhead Central CU to acquire five of its branches, four in the High Desert and one in Big Bear region.

RACINE, Wis.-Educators said it will end a long fight with the state's auto dealers and sell a used car lot it operates.

April

WINNIPEG, Manitoba, Canada-While many credit unions are looking for ways to reduce the size of their branches, Steinbach CU here is wrapping up construction of a massive 42,000 square-foot branch, one of the largest in the entire province.

For more than a decade online auctions and resellers have been a popular place for consumers to sell what they don't need for a few extra bucks or acquire items on the cheap, and credit unions are doing the same-and with the same hit-or-miss results.

PÉTIONVILLE, Haiti–Nine credit unions have been seriously damaged and three credit unions were destroyed by the earthquake that struck this country Jan. 12.

OLYMPIA, Wash.-A new law signed by Gov. Christine Gregoire will encourage financial institutions to take extraordinary measures to protect consumers from identity theft and financial fraud, according to the Washington CU League.

ALEXANDRIA, Va.-A report issued last week by NCUA's Office of the Inspector General found NCUA examiners failed to spot red flags predicting last year's failure of Apple Valley, Calif.-based High Desert FCU, a one-time $190-million credit union, that cost the National CU Share Insurance Fund more than $24 million in losses after the failed credit union was acquired by Alaska USA FCU.

WASHINGTON-Frustrated by an 18-month federal conservatorship of Fannie Mae and Freddie Mac costing the government more than $6 billion a month, House Republicans introduced legislation that would privatize the two government sponsored housing enterprises over the next five years.

Mark Brantley was tapped as the new chairman of New York City's Municipal Credit Union Board of Directors.

LANSING, Mich.-State regulators approved the combination of NuUnion CU and Detroit Edison CU to create the state's fourth-largest credit union with more than $1.5 billion in assets to be known as Lake Trust CU.

TRACY, Calif.-In a precursor to a potential merger, NCUA has brought in managers from nearby Valley First FCU to operate troubled Tracy FCU, which the agency has taken under conservatorship.

BIRMINGHAM, Ala.-Economic conditions and credit union balance sheets have changed dramatically since Dennis Dollar was chairman of NCUA. But Dollar doesn't believe conditions warrant NCUA's plan to broadly rein in the "Reg Flex" program he put in place while at the agency.

YUMA, Ariz.-AEA FCU, which reported a whopping $25.9 million loss for 2009, said it plans to shutter its downtown branch and close the main offices for business on Saturdays in an effort to reduce expenses. The $370-million credit union is closing its downtown branch in mid-April and consolidating its services at a central location. In addition, the call center that had occupied the back of the downtown branch office will be relocated to the central office later this spring. The losses at the state's ninth-largest credit union, which held as much as $405 million in assets a year ago, reduced its net worth ratio to just 2.9%, which puts it in the "critically undercapitalized" category.

ARVADA, Colo.-Eagle Legacy CU used to be a place where employees just picked up a paycheck. Today the credit union is ranked among Denver's top places to work.

ARVADA, Colo.-Reducing employee turnover starts with the hiring process, contends Eagle Legacy CU, which uses an online test to make sure it brings in talented people who mesh with the CU's culture.