Charlyn Russell Sorensen was selected to fill a vacant spot on the board of directors at Salt Lake City-based Mountain America CU.

Events

DES MOINES, Iowa-TMG Financial Services, an affiliate of the Iowa CU League, said it has hired Jim Hansen, who resigned Feb. 19 as president of the troubled Virginia Corporate FCU.

LATHRUP VILLAGE, Mich.-Michigan First CU rolled out a business banking website this week and said MichiganFirstBusiness.com was specifically designed with small businesses in mind. Michigan First said online business banking will help businesses run more efficiently through a full suite of customizable banking tools that enable them to easily and securely manage their organization's finances from anywhere, at any time, including direct deposit, direct payments, domestic or international wire transfers, free bill pay, balance alerts, and enhanced online security.

SEATTLE-NCUA said it has approved an application from Eli Lilly FCU to serve more than 12,000 employees of Amazon.com as part of its field of membership. The $900-million credit union already serves hundreds of select groups.

PHILADELPHIA-A former vice president of Boeing Helicopters CU was sentenced to 28 months in prison and ordered to pay $1.25 million in restitution for taking kickbacks to arrange loans for unqualified applicants.

WASHINGTON-A top Treasury official tried last week to dissuade credit unions from their opposition to the Obama administration's proposal for a consumer financial protection agency, saying heavily regulated credit unions and banks ought to benefit by the proposed agency because it would put them on equal competitive grounds with non-banks and other lightly regulated financial services providers.

WASHINGTON-Former Federal Reserve Chairman Alan Greenspan was cautiously optimistic about an economic recovery while speaking to CUNA's Government Affairs Conference last week, in stark contrast to his last appearance at the GAC when his suggestion that homeowners try adjustable-rate and other non-traditional mortgages helped spark a flurry of exotic mortgages.

WASHINGTON-Not surprisingly, NCUA Chairman Debbie Matz told CUNA's GAC the agency is focused on "addressing credit unions' immediate problems," but she also outlined other plans for longer-term member growth.

WASHINGTON-CUNA CEO Dan Mica used what is expected to be his last Governmental Affairs Conference (GAC) to essentially call for a merger with NAFCU.

At first blush the $14-million in losses recorded by Patelco Credit Union during 2009 seem nothing more than another indicator of what a tough year it was. Yet in Q4 2009, the $3.7-billion Patelco booked net income gains for all three months.

WASHINGTON-Has CUNA's Governmental Affairs Conference (GAC) reached the status of political conventions and G8 meetings? In one regard it has.

WASHINGTON-David Gergen, who has worked as a key figure in several White Houses under presidents ranging from Ronald Reagan to Bill Clinton, had some less-than-optimistic words about the current and future prospects of the United States during CUNA's Governmental Affairs Conference here.

WASHINGTON-Just a little more than an hour after a Treasury official stumped for the Consumer Financial Protection Agency to a polite but negative crowd, Rep. Ed Royce (R-CA) drew a more enthusiastic response when he proceeded to tear down the entire concept.

WASHINGTON-If one thing seemed to be missing from U.S. Rep. Paul Kanjorski's GAC speech, it was the Consumer Financial Protection Agency.

WASHINGTON-Karen Mills of the U.S. Small Business Administration told GAC credit unions are "critical" to growing businesses and creating new jobs.

WASHINGTON-Rep. James Clyburn (D-SC) told GAC he believes any regulatory reform legislation should exempt credit unions because they are "different." Clyburn, the House Democratic Whip, said he also wants credit unions to play a role in the redesign of financial services and their regulation.

WASHINGTON-Sen. Christopher Dodd (D-CT) called on credit unions to remain active in politics and to continue to play their role in helping Americans achieve their dreams.

WASHINGTON-"We are starting with the young people to help them get it right," said John Annaloro, president of the Washington CU League, in accepting the Herb Wegner Award for Outstanding Program, which went to the Biz Kid$ TV program that airs on PBS and which was developed by the WCUL.

PLEASANTON, Calif.-More US residents are becoming identity theft victims according to a recent survey released by Javelin Strategy & Research. But a spike in reporting rates has also led to more thieves being taken off the streets, the study suggests.