WASHINGTON-Faced with declining numbers, the National Federation of Community Development CUs is asking NCUA to act to convert some $16 million in low-interest loans through NCUA's Community Development Revolving Loan Fund into permanent capital.

GLENDALE, Calif.-An advertisement in a local credit union's member newsletter and on its website is kicking up controversy with federal regulators.

Pentagon FCU Explores Conversion To Bank

WASHINGTON-NCUA Chairman Michael Fryzel expressed regret at the agency's $5-billion corporate credit union bailout during remarks at CUNA's Government Affairs Conference last week, but said there are no fast and easy solutions to the rescue of the corporate network.

WASHINGTON-CUNA announced last week the crashing stock markets slammed its investment portfolio last year to push the trade association deeper into the red, to the tune of $8 million.

Trainers From WSECU, O Bee Win 'Best in Show'

WASHINGTON-How to resolve the corporate credit union losses overshadowed nearly every aspect of CUNA's GAC last week, but there were a few other things mentioned along the way, including:

COLUMBUS, Ohio-Corporate One FCU reported that unrealized losses on its books grew by another $21 million in December to a total of $328.1 million, one of seven corporates with large holdings of underwater securities.

WASHINGTON-Congressional leaders last week assured credit unions during CUNA's Government Affairs Conference they would do everything they could to keep them from paying the tab for the ongoing financial crisis.

LENEXA, Kan.-When U.S. Central FCU surprised everyone last month - including NCUA - with a massive $1.1-billion loss for its recently completed fourth quarter it was precipitated by the implementation of a controversial and often confusing accounting term called other-than-temporary impaired, or OTTI.

GLENDALE, Calif.-For the same reason many believe the best way to remove a Band-Aid is quickly, a number of credit unions are saying they prefer to write down whatever their final tab will be for NCUA's Corporate Stabilization Plan.

WASHINGTON-CUNA Corporate Task Force Chair Terry West said these are among the alternatives to NCUA's Corporate Stabilization Plan:

WASHINGTON-Here's a look at the questions credit unions had for CUNA and its task force on corporates during GAC:

WASHINGTON-Issues surrounding corporate credit unions and the potential need for federal funding led CUNA to hurriedly add a special early morning Q&A session during its Governmental Affairs Conference.

New Versions Of uOpen, uFund Launched

DALLAS-Hyundai made headlines with its offer to take back cars if buyers lose their income within a year after purchase, but one credit union vendor has already made it possible for CUs to promote the same deal.

MADISON, Wis.-As a seemingly never-ending wave of residential foreclosures sweeps the nation, a second wave is already starting to be felt in the commercial sector, which is why CUNA Mutual Group has expanded its foreclosure coverage.

CSCU Awards Scholarships To 3 CUs

CARMEL, Ind.-Finding alternate sources of revenue is a priority in the current economic environment, and placing a stronger priority on insurance products could help boost the bottom line, according to several experts.

HARRISBURG, Penn.-The Pennsylvania CU Association said its credit unions can now offer their members discounts on wireless phone services through Sprint Nextel.