CUTEK has hired three new Episys programmers; Eric Lizotte, Curt Cravy and Scott Kennedy.

Events

PITTSBURGH-The Federal Home Loan Bank of Pittsburgh announced a loss of $23.6 million for the first quarter, as it continues to struggle under the weight of private-label mortgage-backed securities.

BOSTON-The country's first credit union was founded an hour north of this city, and rightfully claims its place as the birthplace of CUs in the U.S. But it was in Boston where credit unions were nurtured, organized-and financed.

WASHINGTON-Staffers on the Senate Banking Committee are said to be reviewing the eligibility of Deborah Matz to be the next chair of the NCUA Board, in light of her work in the industry since leaving the NCUA Board in 2005.

FSCC Recognizes Award Winners

DENVER — State regulators have issued cease and desist orders against two ailing state chartered credit unions, Longs Peak CU and Saguache County CU.

ALEXANDRIA, Va. — The NCUA Board last week reversed its corporate bailout charges and passed a new bailout plan that will give credit unions seven years to repay the $5.9-billion cost.

JUNE

Teres, Andera In Partnership

CLEVELAND, Ohio — When lending to members with C, D, and E credit, CUs should focus first on getting the collections process in order.

PHOENIX — Arizona State CU recently launched a social media website to help its members - many of whom are employees of the state's government or universities-get through a time of vanishing jobs.

FORT WAYNE, Ind. — Skyrocketing unemployment is not leading to a similar rise in delinquency at Three Rivers FCU thanks in large part to a complete overhaul in the credit union's collections methods.

A recent engagement for a large employer-based credit union gave us a vivid reminder of why credit unions are so well-positioned to outperform the competition in difficult times. Our client had done exceptionally well in signing up employees of the multinational company it serves, but senior management sought our help in devising a strategy to better reach family members and retirees in its field of membership.

It's the 80th Annual Dinner meeting for Pyramid CU. A member, a man in his 30s, raises his hand to ask if he can say a few words. He shares that he's been a member of the CU all his life as were his parents. He compares Pyramid to the famous movie, "It's a Wonderful Life," because CEO Ray Lancaster is their own version of George Bailey. The crowd agrees in the form of loud applause, shouts and cheers. (For the few people who've never enjoyed the movie, an angel shows George Bailey the positive impact he's had on the people in his small town.)

In the end, CUNA decided not to let them eat cake.

ESFCU Celebrates Hitting $300-Million Mark

WASHINGTON — President Obama proposed a plan last week to create a consumer advocacy agency that would field and investigate consumer complaints brought against banks and credit unions, something currently overseen by NCUA, the Federal Reserve, FDIC and the other existing regulators.

MONTROSE, Colo. — Being a member of Nuvista FCU is such a good deal, a number of big bank employees have joined the CU-and have even recommended CU membership to some of their bank customers.

RIVERWOODS, Ill. – Discover Financial Services yesterday reported a second quarter net of $209.2 million, made possible only because of $473 million payments form Visa and MasterCard as part of last year’s $2.75 billion settlement in the antitrust case brought against the two card giants.