WINSTON-SALEM, N.C. – A college student won a $3,000 innovation prize from Truliant FCU for designing a new loan product, as part of the credit union’s Financial Fair last week.

GREEN BAY, Wis. – Last week’s quick jury verdict proclaiming credit union’s sale of credit life products as part of their regular course of business could induce the Internal Revenue Service to return to the table to negotiate a settlement on the decades-old dispute over unrelated business tax, or UBIT, individuals involved on the credit union side suggested yesterday.

WASHINGTON – The House could vote as soon as today on a bill to give NCUA broad new powers to bail out the corporate credit union network, virtually rendering moot hearings scheduled for tomorrow on the new corporate bailout bill.

NEWARK, N.J. – The president and major owner of US Mortgage Corp. and its CU National unit is preparing to plead guilty to fraud and conspiracy charges relating to the transfer of as much as $160 million of credit unions’ mortgages being serviced by the company to Fannie Mae.

LENEXA, Kan. – Last week’s first quarter report by U.S. Central FCU gave corporate credit unions a glimmer of hope on recovering an additional $500 million of membership capital shares in their failed corporate.

WASHINGTON – Five Federal Home Loan Banks have delayed reporting their first quarter financials while they grapple with new accounting rules to help minimize losses.

AUGUSTA, Ga. – -A man who admitted he took part in a carjacking and armed robbery at Richmond Community FCU was sentenced to 15 years in federal prison.

FAIRBANKS, Alaska – State Troopers used DNA evidence to track down a suspect in a robbery at Spirit of Alaska FCU last year.

WAYNESBORO — DuPont Community CU announced 19 winners of $1,000 during its 50th annual membership meeting.

MOSS POINT, Miss. – Singing River FCU has signed with Identity Theft 911 to provide its members with comprehensive identity theft prevention and resolution services.

NEW HOLSTEIN, Wis. – Premier Financial CU named Steven Nothem, its executive vice president, as its new president and CEO, to succeed retiring Gerald Tiedt.

FARMINGTON HILLS, Mich. – The uGenius talking Personal Teller Machine is making its Michigan debut at a new Community Choice CU.

WASHINGTON – Two former NCUA Board members have been removed from consideration for the vacancy on the three-member panel, but one other, Yolanda Wheat, who served on the Board from 1996 through 2001, has emerged as a candidate.

DEARBORN, Mich. – Regulators on Friday took over Rouge Employees CU, the credit union serving employees of Ford’s famed Rouge River auto plant, and merged the remnants of the failed credit union into Chief Financial FCU, the Pontiac-based auto workers credit union.

MADISON, Wis-The first court challenge of the Unrelated Business Income Tax as applied to credit unions got under way last week with Community First CU and the Internal Revenue Service grappling over how the jury should be instructed.

DALLAS-Town North Bank, which has marketed its credit card business as credit union-owned, has agreed to sell its $300-million portfolio of credit union loans to Elan Financial Services, a unit of U.S. Bancorp, the parent of U.S. Bank.

Gun Amendment Shoots Hole In Credit Card Bill

HARRISBURG, Penn. — The corporate assessment won't slow Pennsylvania State Employees CU's strategic plans for 2009, especially its objective to build a new headquarters.

BAXTER, Minn. — Despite the corporate assessment, Mid Minnesota FCU continues to follow its strategic plan without a great deal of impact to the ALCO and its 2009 plans. However, it is making some temporary adjustments to employee compensation and benefits, as well as to travel and conference attendance guidelines.

LATHRUP VILLAGE, Mich. — Fortunate to have a very strong 14.13% capital position-and that's after the NCUA assessment-Michigan First CU remains confident that it will be able to meet its overall 2009 strategic goals.