Redwood CU, Santa Rosa, Calif., re-elected Greg McGuirk, Jim Olmsted and Kathy Sowers to the board and Lou Funk to the Supervisory Committee.

WASHINGTON-The FDIC said it is scrapping a program that would have auctioned off mortgage-backed and other troubled mortgage loans held by banks and plans instead to sell hard-to-price assets seized from failed lenders using guaranteed debt financing.

WASHINGTON — Credit unions seem to be increasingly willing to take another look at prepaid cards as a product offering.

FORT LAUDERDALE, Fla. — As banks continue to clamp down on credit card balances and ratchet up credit card interest rates, credit unions have the opportunity to make inroads into market share while truly helping their members.

SAN ANTONIO — The costs to rescue corporate credit unions could make lowering delinquency rates a lot tougher.

SAN JOSE, Calif. — With delinquencies growing, many credit unions are scurrying to improve collections processes and outsource some of the work.

WASHINGTON-The Electronic Payments Coalition, comprised of banks and credit unions, vowed to fight two new bills that would allow large retailers to negotiate bilateral interchange fee agreements on transactions with card issuers.

ALEXANDRIA, Va.-NCUA is buying ads on the side of buses this summer to tout the safety and soundness of credit union accounts insured by the National CU Share Insurance Fund.

ALEXANDRIA, Va.-NCUA has approved shared appreciation loan modifications in which the credit union can share in the appreciation of any property for which it refinances a loan.

JUNE

LAS VEGAS — The CUs of Puerto Rico count half of the island's population as members, yet have only a tiny share of wallet, which is why the current economy may just be the biggest opportunity to come their way in a long time.

MADISON, Wis. — Recently announced staff reductions at CUNA Mutual Group are not an indication it's on the same path followed earlier by some troubled corporate credit unions, its chief executive says.

SALEM, Ore. — MaPS Credit Union is introducing its new training CUSO with a free, 10-week workshop that it hopes will translate into deeper connections to the community, as well as income from future classes.

HAMMOND, Ind. — Are Americans suddenly savers?

Given the extent to which the global financial crisis has ravaged markets, crippled industries and closed countless businesses both large and small, it would seem doubtful that there's any light at all on the economic horizon. However, credit unions and financial cooperatives the world over have a good story to tell and may be able shed some light on a brighter financial future.

I am deeply disappointed in Dan Mica and CUNA not representing the majority of credit unions on two issues.

During this year credit unions across America commemorate the 100th anniversary of the very first credit union in the United States. For many, looking back provides a sense of security. It's good to remember the principles upon which the movement was founded.

Credit Union Journal is now accepting nominations for its 2009 Best Practices Awards. We've deliberately made it very easy to enter. The BP can be created by your CU or it may be a vendor-supplied program; it simply needs to have been implemented since June 1, 2008, and must be able to show tangible results. Get details on how easy it is to enter at www.cujournal.com.

SWBC Enchances ECM Product

OGDEN, Utah — The management philosophy of "doing everything that is best for the members" is not unusual within credit unions.