CHICAGO-Alliant CU unveiled its own charitable foundation last week with a start-up contribution from the credit union of $4 million.

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MIAMI-In just over two weeks, one credit union here opened more than 2,000 new savings accounts - and all of the account holders are between the ages of 14-24.

WHEELING, W.V.-The former CEO of defunct Center Valley FCU was indicted on charges of embezzling $9 million of the failed credit union's $17 million in deposits.

WASHINGTON-The FDIC took over four more bank failures last week, making a total of 69 through the end of July.

WASHINGTON-The House recently rejected a protest from the credit union lobby and passed a bill that will allow NCUA and the bank regulators to rein in excessive executive pay packages at credit unions and banks.

LENEXA, Kan.-Hours after U.S. Central FCU reported a massive $1.1-billion loss for the first half of the year its corporate members began accruing losses to their own capital in U.S. Central - an additional $500 million - some of which will be passed on to their own natural person credit union members in the coming months.

While credit unions have been faring better than many large banks and savings institutions in this current economy, it is now more important than ever to maintain member loyalty. Not only do credit unions need to solidify those member relationships, but they need to ensure those relationships are as deep as possible and profitable to the institution. How can this be accomplished?

I loved Frank Diekmann's column in the July 13th issue. I have believed for a long time that credit unions should first lift the value of the credit union space and then communicate and differentiate their individual brands. To win members from banks, we need to tell the larger credit union story. Though attempts have been made, we've never quite gotten it right because we've never found a way execute well on a national scale.

AUGUST

Checking into the Barcelona AC Hotel recently I was greeted with an announcement so shocking, so unbelievable, so completely unheard of, I stared blankly at the front desk clerk for a moment and then asked him if he would repeat what he had just said. Slowly.

WEST LAFAYETTE, Ind.-Purdue University Employees FCU is the fifth credit union to be approved as a servicer in the Home Price Decline Protection component of the Treasury Department's mortgage refinance Home Affordable Modification Program, or HAMP.

SACRAMENTO, Calif.-The Golden 1 CU is introducing Federal Housing Administration mortgages to its members. FHA loans are popular among first-time homebuyers because they require only a 3.5% down payment. The down payment can also be gifted to a borrower from an immediate family member or close family friend.

BALTIMORE-Authorities are investigating the unauthorized transfer of $252,000 by Johns Hopkins FCU to an overseas figure purporting to be one its members, a renowned international expert in AIDS.

CDCUs Issue 2008 Financial Report

LANSING, Mich.-When it comes to educating consumers about foreclosure, the Michigan CU league believes that should be done Right at Home.

PHOENIX-Desert Schools FCU is attempting to assuage people's fears related to the ongoing economic downturn with a multi-media advertising blitz touting itself as a stable source of assistance.

WEST PALM BEACH, Fla.-As credit unions across the country gear up for the traditional strategic planning season, Credit Union Journal talked with more than 20 experts to get a preview for what next year's most critical issues will be during those planning sessions. Read up on the experts' tips and advice on how to make the most of your strategic planning for the year ahead.

WASHINGTON – Fannie Mae said yesterday it will ask for another $10.7 billion in government aid after posting a second quarter loss of $15.2 billion.

LAWRENCEVILLE, Ga. – The Aurora Theatre, Gwinnett County’s only professional theatre, will be known as Gwinnett Federal Credit Union Studio as the result of a $125,000 five-year capital pledge by the credit union.