The comments attributed to Mr. Prins (CU Journal Online, Feb. 11) reflect either an indifference to, or a lack of understanding of, the fiduciary duties of a director of any financial institution, including a credit union. Messrs. Franklin and Cheney, and all the other U.S. Central directors, have a legal duty not to disclose to any third party-including their respective employers-any confidential information about U.S. Central that they learn in their capacity as U.S. Central board members. Notwithstanding the intertwining relationships common throughout the credit union system, credit union directors are equally subject to the same legal duties as are the directors of any other corporation.

Sometimes you need a simple solution to a complex problem.

FEBRUARY

In the months leading up to CUNA's Governmental Affairs Conference this week in Washington, the trade group promoted attendance with the slogan, "Be Bold. Be Heard. Be There." It might need to try, "Be-gin. Be Civil. Be Done." when it comes time to turning on the audience microphones.

WHEELING, W.V.-NCUA's closure of Center Valley CU is leaving members frustrated and many questions unanswered-including potential fraud.

WASHINGTON-CUs' balance sheets are "much more solid than their competitors" and despite a huge jump in delinquencies and charge-offs are still on track to grow in 2009 according to Callahan's "First Look" at Q4 2008 and full-year numbers.

CUNA Mutual Expands Coverage

SAN LUIS OBISPO, Calif.-Help members when they need it, don't chase after money and love what you do-that's how one credit union is posting good numbers in a bad economy.

MADISON, Wis.-There's been a lot of lip service paid to the importance of the baby boom generation, but Jeff Hunt promises to give CUs actionable methods to keep these valuable members out of the prying fingers of the competition.

WASHINGTON-When credit unions meet here this week for CUNA's GAC they will be anything but unified over whether or not to accept federal funding to shore up ailing balance sheets at corporate credit unions.

HONOLULU – Fifth Third Processing Solutions said yesterday it signed contracts to provide electronic funds transfer, including gateway access, ATM driving and debit card processing with two Hawaii credit unions, HONEA FCU and Ewa FCU.

INDIANAPOLIS – The Indiana CU League said yesterday it has signed with Jackson Integrated to launch a statewide consumer campaign promoting the benefits of credit union membership in today's uncertain economy.

ITHACA, N.Y. – CFCU Community CU said it will award 15 $1,000 college scholarships this year.

NEW YORK – Polish & Slavic FCU said yesterday it donated $181,000 to Columbia University, making a total of $500,000 contributed to the endowment of the school’s chair of Polish studies.

NEW YORK – United Nations FCU announced yesterday it is offering a full suite of financial services and products to community development credit unions through its UNFCU Financial Advisors CUSO.

PANAMA CITY, Fla. – Tyndall FCU announced a casting call among members and employees for its new TV commercials.

McLEAN, Va. – Home loan rates dipped again this week to near record lows, according to Freddie Mac.

MADISON, Wis. – The Filene Research Institute is calling for credit union executives to dig into the just-passed economic stimulus bill and explore where credit unions may take advantage with new products and services for all consumers.

ALEXANDRIA, Va. – NCUA reported yesterday it approved the merger of Channel Islands FCU, the one-time $27 million credit union, into Western FCU, the $1.5 billion credit union which recently completed the integration of Toyota FCU.

ARLINGTON, Wash. – Police are investigating a group of young people who figured out how to get a BECU ATM to doubling their deposits–tricking the machine out of more than $62,000.