EL PASO–Krystal Hoganson, an engineering student at the University of Texas-El Paso, has won $10,000 as the grand prize winner of the "GECU Savings Challenge '09 - College Edition."

WILMINGTON, N.C.–Velocity Solutions here has released a tool designed to help financial institutions manage the opt-in process, following recent changes to Regulation E that require all consumers to opt in, or affirmatively consent, to overdraft services for ATM and one-time debit card transactions before overdraft fees can be assessed.

TEA, S.D.–A thief or thieves whom police say knew what they were doing have stolen a credit union's ATM here, with the $30,000 in cash that was inside the machine.

ALBANY, N.Y.–ESL Federal Credit Union is dropping its name from an ice skating complex in Brighton, N.Y., of which it has been a major sponsor, and has told local media the move is not related to recent financial troubles at the complex.

MADISON, Wis.– A new study is calling the Credit C.A.R.D. Act of 2009 "the most significant piece of credit card legislation in a generation."

NEW YORK–New analysis indicates that new federal rules related to overdraft fees are likely to drive more volume away from checking accounts and toward reloadable, prepaid cards. The reason: rules calling for greater disclosure will only highlight how much more expensive a checking account can be for consumers over prepaid cards, especially for low-income consumers.

RIVERWOODS, Ill.–New federal restrictions on credit card fees are being cited by Discover Financial Services as the reason for a decline in quarterly profits.

RALEIGH, N.C.–In response to a high local unemployment rate, Local Government FCU here is offering members who lose their jobs the option of withdrawing funds from share term certificates early without paying a penalty.

In this, the final edition of 2009, the Credit Union Journal's special report reviews the year's top events, trends and stories. In addition to featuring the 2009 Innovation of the Year, CU Journal explores some of the most important lessons learned from this tumultuous year, as credit unions gear up for 2010.

DUBUQUE, Iowa-To ensure employees are always up to speed on its own products and services, Dupaco Community Credit Union conducts quarterly online educational programs anchored by a year-end test, from which individual scores affect compensation.

BOULDER, Colo.-Acknowledging it had been overly aggressive in forecasting growth, Elevations CU is closing one branch and eliminating 13 positions.

Eastman CU To Pay $4M Dividend

January 2010

ALEXANDRIA, Va.-The NCUA Board denied an appeal by the lone employee of New London Security FCU to receive a $265,000 lump-sum payout for her service at the failed Connecticut credit union.

ALEXANDRIA, Va.-NCUA said that college savings 529 accounts may be insured by the National CU Share Insurance Fund either as public units or on a pass-through basis as a trust.

LIVONIA, Mich.-There was a day, Dave Adams recalls, when struggling automakers General Motors and Chrysler knew little about what credit unions were, who they represented, and what they might offer.

WASHINGTON-A spending bill passed by Congress last week will set send the funding level for the Central Liquidity Facility, the emergency loan fund for credit unions, at $43.8 billion for 2010, up from $41 billion this year.

WASHINGTON-The FDIC last week approved a $4-billion budget for 2010-$2.5 billion of it to resolve failing banks-and the number of failures to continue to rise.

Stephen J. White, president and CEO of Westerly Community CU, Westerly, R.I. has been elected to the board at Northeast Member Business Services.

WASHINGTON-The Treasury Department said it approved ten more servicers, include five credit unions, for its Home Affordable Modification Program. The newly approved credit unions are: The Golden 1 CU, Silver State Schools CU, American Eagle FCU, Spirit of Alaska CU and Bay Gulf CU. Under HAMP, the Treasury allocates financial incentives for the modification of loans on the verge of foreclosure.