SAN DIMAS, Calif. – Former members of the board of Western Corporate FCU (WesCorp), who were removed as the result of NCUA’s conservatorship of the corporate credit union, have issued a statement saying they have voted unanimously against contesting that decision.

TACOMA, Wash. – An item in Friday’s CU Journal Daily Briefing about Harborstone CU promoting Phil Jones to president and CEO incorrectly referred to a 2005 merger between Harborstone and Twin County CU. That merger was terminated and never consummated.

WASHINGTON – Sunday’s annual CU Cherry Blossom 10-mile run through the nation’s capital raised $1 million for Children's Miracle Network, drawing a record number of runners to participate in the charitable race.

ALEXANDRIA, Va. – Federal authorities say a trio of check counterfeiters threatened people with violence so they would cash at least 90 fake checks totaling more than $100,000 at Washington-area credit unions.

MUSKEGON, Mich. – First General CU said its president Dorothy Lester has announced her retirement after 48 years in the credit union movement, the last 30 as head of the now $40 million credit union.

PLAQUEMINE, La. – Dow Louisiana FCU said yesterday it has become the first lender to implement Wolters Kluwer Financial Services’ AppOne credit union auto loan platform.

WEST JORDAN, Utah – Mountain America CU announced it has deployed 90octane’s search engine for its website.

WASHINGTON – The Supreme Court ruled yesterday that confessions obtained by federal authorities in a 2003 credit union robbery before the suspect's first court appearance may be inadmissible because more than six hours elapsed between an arrest and a court date.

WALL STREET – Standard & Poors said yesterday it lowered its ratings on six corporate credit unions in light of the trickle-down effect of the failure of U.S. Central FCU, which forced all corporates to charge-off their capital in U.S. Central.

ALEXANDRIA, Va. – As a growing number of executives and volunteers call for the consolidation of the corporate credit union system the big question being raised is: which corporates should survive and which ones should not?

WASHINGTON-CUNA said compensation disclosures provided to the credit union trade press for its president and CEO Dan Mica were incomplete and should have listed another $197,000 Mica was paid by CUNA affiliate CUNA Strategic Services in 2007, boosting Mica's 2007 pay to almost $1.2 million.

NCUA Gives CUs Time To Expense NCUSIF Premium

MULBERRY, Fla.-Community First CU has struck a deal with a local school district to have staff visit schools and collect deposits from students.

APPLE VALLEY, Calif.-High Desert FCU, which was placed under conservatorship by NCUA in October 2008 after losing $15.4-million in the first three quarters of the year, is to be merged with another credit union. But which credit union will make the purchase and assumption has yet to be identified, according to High Desert, which announced the pending P&A on its website. High Desert's new management had earlier indicated to Credit Union Journal that it was not looking to merge, even though capital had declined to just 2.3%. In December, 2008, HDFCU laid off 16 staff members. "Based upon a thorough review of High Desert, NCUA representatives have decided to combine High Desert with another credit union," the credit union is telling its members. "We expect the process to be complete by June 30, 2009. Rest assured NCUA has a strict process for analyzing credit union consolidations."

WASHINGTON-A key congressional committee voted to approve to a credit card reform bill that would go much further than the new card rules adopted by the Federal Reserve in December and would go into effect much sooner.

CMG Mortgage Insurance Co., San Francisco, awarded Chad Shipman account executive of the year, Ira Oskowsky regional sales director or the year and Suzette Jordan regional sales director sales plan achievement award.

Meetings

WASHINGTON-CUNA executives thought better last week of going to war with NCUA over the prior week's takeovers of U.S. Central FCU and WesCorp FCU, and instead will work with the federal agency to try to mitigate the $5.9-billion cost of the corporate bailout.

APRIL

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