Texas Lawmakers Consider Update To State CU Act

WASHINGTON — Congress last week was getting a mixed message from credit unions when it comes to support legislation related to so-called mortgage "cramdowns."

HARRISBURG, Penn. — As credit unions seek ways to cut expenses in light of today's economic storm, the groups that serve them are also feeling the pinch.

FORT WAYNE, Ind. — A former credit union CEO's claim that he made unauthorized loans to help members stay out of financial trouble appears to be a defense that the credit union's current leadership is not buying.

BLOOMINGTON, Minn. — Credit union auditors are laying out the options for how credit unions can account for their share of the corporate bailout costs and the impairment of capital in WesCorp FCU, but are leaving it up to their clients to decide how they will report the charges.

SAN DIEGO — A new survey shows even CU members who use banks more often than a credit union say they trust a CU more than they do banks.

LAKE BLUFF, Ill. — Reducing capital standards to 3% reduces the number of natural-person credit unions needing assistance by 1,000, according to Mike Moebs of Moebs $ervices, who offered a preview of what the results of the Treasury's "stress test" will look like.

LANSING, Mich. — State regulators told state-chartered credit unions they will not be penalized if their net capital and earnings fall below regulatory standards solely because of costs related to NCUA's corporate credit union bailout.

MALVERN, Penn.-Akcelerant, a software solution provider for the financial services industry, and SWBC, a San Antonio-based financial services company, will host a joint conference in 2009. The Educational Conference will take place June 1-4 at The Westin Riverwalk in San Antonio, Texas. The agenda includes industry speakers such as Rex Johnson, CEO of Lending Solutions Inc.; Gordon Dames, former CEO of Mountain America CU, and Tom Kontos, EVP of ADESA Corp.

Dow Louisiana Joins AppOne

SUITLAND, Md. — Athletes of all shapes, sizes and abilities came out for the annual CU Cherry Blossom 10-Mile Run earlier this month, but one credit union CEO's participation in the race stood out from the rest.

BROCKTON, Mass. — Thanks to massive consolidation in the marketplace, Massachusetts is now heavily saturated with foreign-owned financial institutions, providing one CU with the opportunity to tout its "local" message.

WASHINGTON — Credit unions are hardly alone in the struggle to cure ailing health insurance costs. The attached charts and the figures below are from the National Coaltion On Health Care and offer a big-picture look at the cost of health care.

OGDEN, Utah — Despite looming cutbacks to employee healthcare, credit unions are searching for options to deliver health benefits at levels close to what staff have come to expect.

MADISON, Wis. — With a down economy and looming corporate bailout assessments, many credit unions are slashing the travel budget, pushing credit union trade associations to resort to drastic measures to bolster their conferences.

PHONEIX — Expect to see a greater emphasis on wellness programs and employee healthcare education as credit unions, locked into their current healthcare plans, seek to keep claims down and prepare employees for potential changes.

PEWAUKEE, Wis. — As credit unions slash their travel budgets, state leagues across the country are doing whatever they can to ensure attendance at their conferences remains high and CU execs at every institution are kept in the loop.

Greylock FCU Launches Teenager Focus Group

SAN DIEGO-North Island CU, which reported a $50.2 million loss for 2008, announced plans to close three branches and lay-off the employees at those facilities.

DENVER-Security Service FCU continued to grow its Denver presence with the acquisition of ailing Aurora Catholic FCU.