WASHINGTON – The House voted yesterday to eliminate the once-lucrative guaranteed student loan program, instead relying on direct government loans to fund the $150-billion-a-year needs of college students and delivering another major blow to credit unions and banks.

SOUTH BEND, Ind. – In one of the more unusual results of the economic downturn, Teachers CU ended up Tuesday with more than $1 million worth of parts for the iconic Studebaker cars, which ceased production in the U.S. in 1963, as part of a foreclosure auction.

JEFFERSON CITY, Mo. – State regulators have approved the emergency merger of Spirit of St. Louis CU, a one-time $75 million credit union based in Eureka, into Vantage CU, the $600 million Bridgeton credit union.

SEATTLE – One of two men believed responsible for as many as 17 armed robberies at area credit unions and banks was arrested last week after an acquaintance led police to him.

SELMA, Ala. – The surviving daughter of a deceased member of Selma Dallas FCU has filed suit against NCUA saying the federal regulator failed to reimburse her late mother for $25,000 she had in her account when the agency liquidated the fraud-riddle credit union in 2004.

ALEXANDRIA, Va. – NCUA said loans made under the U.S. Small Business Administration’s 504 program are exempt from the collateral and security requirements in NCUA’s member business loans rule.

KETTERING — Fairmont High School is partnering with FirstDay FCU for a student-run credit union inside the Fairmont library.

WASHINGTON – Wright Patman Congressional FCU announced the election of James Kaelin as its new chairman of the board, replacing James Molloy, the former Doorkeeper of the House of Representatives who stepped aside after 37 years as head of the panel.

PANAMA CITY, Fla. – Tyndall FCU is providing ten grants of $2,500 each to non-profits working to improve Christmas for underprivileged children.

FAIRHAVEN, Mass. – First Citizens’ FCU said yesterday it is now offering personalized Visa CheckCards with next generation security features embedded within the card.

INDIANAPOLIS – The state Board of Finance this week approved TECH CU's application to serve as a depository of public funds.

WASHINGTON – The House is expected today to pass sweeping reform of student lending, including the elimination of the guaranteed loan program which has been a profitable source of revenue for credit unions and banks.

WASHINGTON – Key lawmakers expressed support yesterday for a bill to bring credit unions and other financial services providers under the Community Reinvestment Act, as a growing number of CRA advocates built their case for expansion of the 1977 law.

GREEN BAY, Wis. – State chartered credit unions appear to have won an important victory in their decades-old fight with the Internal Revenue Service over the unrelated business income tax, when the IRS failed to appeal a May ruling in federal court striking down a UBIT assessment against Community First CU here.

BOWIE , Md. – NASA FCU said it has contracted with Fusionbox of Denver to create an online marketing campaign that communicates easily with members and potential members.

LOCKPORT , N.Y. – A woman who worked a debt collector was charged in state court with stealing the account information of three clients she used to tap into their accounts at Cornerstone Community FCU.

SYRACUSE, N.Y. – Credit union representatives are mourning the death of Alfred Mariani, who worked as an executive at three credit unions and organized more than 100 credit unions in the northern tier of the state.

HONOLULU – Hawaii State FCU was left apologizing for sending out a letter to members with their account numbers printed on the outside of the envelope.

WILLISTON, Vt. – New England FCU has implemented mFoundry’s mobile banking solution through PSCU Financial Services.

WEIRTON, W.V. – First Choice America Community FCU is remodeling a one-time Stone & Thomas department store in the downtown into new administrative offices.