WASHINGTON — The Senate Banking Committee has scheduled a hearing for this Wednesday on the nomination of former NCUA Board Deborah Matz to return to the agency as its chairman.

In the past year, we have seen the financial titans Lehman Brothers and Bear Stearns reduced to rubble, unemployment rise to near-record levels and our highly valued housing market find new lows, while regulators and legislators struggle to administer a series of cures to our ailing economy.

With all the changes occurring within the economy and adversely affecting CUs, change inside your credit union is inevitable. That said, how many initiatives are you putting on your employees' plates in the coming months that will require them to do their work differently — or more efficiently — to ensure the survival your credit union while still providing quality member service?

JULY

SHEBOYGAN, Wis.-Two Sheboygan police officers were found innocent of excessive force on a man who robbed Sheboygan Area CU at gunpoint in January 2004 and who was captured after a high-speed chase.

Credit Insurance Summaries Offered

TAMPA, Fla. — Suncoast Schools FCU and GTE FCU said last Wednesday they have ended their planned marriage, one of several giant mergers prompted by the recession in Florida and its impact on credit unions and banks.

SALT LAKE CITY — In an era of credit union consolidation in the name of "Bigger = Better," one CU is showing "Smaller = Full Service."

FARMINGVILLE, N.Y. — It pays to earn an "A" if you're an employee at Teachers FCU.

In the four months between the time NCUA announced it would be docking all federally insured credit unions an "assessment" to bail out some of the corporates and the time the agency unveiled its stabilization plan, Fred Becker said he talked to more CEOs than he had in the nearly 10 years he's been president of NAFCU.

I have read several letters from Dennis Fisher lambasting Dan Mica and his supposedly misguided efforts to gain credit union access to TARP funds. Mr. Fisher asserts that he represents the majority of credit unions and because his side won, he suggests that Dan Mica should be praising those who defeated his efforts and acknowledge that it was a very dangerous path he was trying to lead credit unions down. Well, let me suggest several things for Mr. Fisher to reflect upon if he is inclined to view this subject with an open mind;

LA DOTD Heads Down To Main Street

WEST PALM BEACH, Fla. — The severity of the current recession has tested many credit unions' management and boards. In this issue, five CEOs offer their insights on the lessons they have taken away from the current environment. To read about the lessons they've learned, please click the links below.

WASHINGTON – The politics of gun control intruded on financial policy again last week when the House Financial Services Committee voted to attach an amendment to a pending housing bill that will allow guns in public housing projects.

NORRISTOWN, Penn. – A mild-mannered assailant, already in prison for four bank robberies, was convicted of three more–two of them at local credit unions.

WHITEFISH, Mont. – Whitefish CU, the state’s largest credit union, said its long-time president and CEO Charles Abell will retire next month after 32 years at the helm.

COLUMBUS, Ohio – Powerco CU has purchased a 13,241-square-foot, office building for $2 million.

MIAMI – American Airlines FCU continued its expansion at the nation’s airports with the opening of its newest Miami International Airport Cargo branch.

BURBANK, Calif. – Lockheed FCU announced a Summer Loan Sale which features a best rate guarantee.

STRATFORD, Conn. – Sikorsky Financial CU announced a new savings account designed for individuals 17 years old and younger.