Here's a simple solution: NCUA should set aside the "defined reserve standard" of PCA in recognizing the economy we are all working within. NCUA should also recognize that any capital held by a credit union is critical in dealing with mounting loan, investment, NCUSIF and potential corporate paid in capital losses. The federal government is digging deep into the pockets and futures of taxpayers while trying to uphold capital standards that have become instantly archaic given the current economic environment.

Regarding GTE FCU CEO Bucky Sebastian's proposals for expanded powers for credit unions, which he called a "credit union on steroids" (cujournal.com, Jan. 27): this is a mutual savings bank. The law already permits such a move. Why not acknowledge it and support the directors of a credit union proposing a conversion, and move to the FDIC, rather than interfere in the decision-making as he, the NCUA, and some of the credit union trade associations have in the past?

This "bailout" of the corporate system seems unconscionable and appears to weaken the entire credit union system at a time when the industry cannot absorb the hit. The corporates may survive, but how will credit unions fare? With the GAC just weeks away, could we not have alternatively lobbied 'til we dropped to secure a small slice of the Fed's next bailout distribution rather than feed amongst ourselves?

I enjoyed reading Frank Diekmann's column in the Jan. 12 issue; the prose is almost poetic.

SAN JOSE, Calif.-Technology Credit Union says it has increased public awareness by joining a local small business assistance association.

Micro-Lending Pioneer Plans American-Style CU

ALBERTA, Canada-Now that the "Young & Free" program has a full year under its belt, Commonwealth CU here is ready to talk results.

ALBERTA, Canada-The $1.8-billion Common Wealth Credit Union has named Myles Peterman, 18, the winner of its 2009 Young & Free Spokester search. Peterman, from Edmonton, Alberta, proved he best represents 17- to 25-year-olds by securing a plurality of votes in a weeklong battle for what the previous spokester called, "the most fun and rewarding job a person can ever have."

COLLEGE PARK, Md.-KC Councils FCU has introduced a new product that helps members plan for the death of loved ones."Choice Endings," one of seven new products created by the Filene Research Institute's i3 Group, consists of a packet that contains a letter to the family of what the deceased final wishes are, where their important papers are located and other important information they may need when a loved one dies.

ALEXANDRIA, Va.-A credit union veteran may have the CURE for CUs struggling to expand their knowledge base.

TMG ID'd As Great Place To Work

PETERBOROUGH, N.H.-Headlines tell the story of banks' mounting credit card portfolio losses. Are credit unions next?

DES MOINES-Gov. Culver signed legislation last week that will provide $250,000 in state funding for nine CUs to develop Individual Development Accounts to victims of last year's flooding. The CUs worked with the Iowa CU Foundation to develop the IDA program in response to last year's floods, which destroyed hundreds of homes and businesses.

SAN DIEGO-An Islamic civic rights group has asked the Department of Justice to investigate whether Navy FCU violated a Muslim woman's civil rights when it denied her service because she was wearing a religiously-mandated head scarf, or hijab.

CLEARWATER, Fla.-The rising number of bankruptcies from members with good credit has one card processor recommending adding a bankruptcy index score when managing credit card portfolio risk.

ALBANY, N.Y.-At the same time last week credit unions were keeping an eye on a bill in the House to bring relief from NCUA's billion-dollar corporate rescue plan, state leagues and their members were calling on NCUA to adjust its bailout plan to lighten the CU burden.

WORCESTER, Mass.-A local man was charged with robbing Digital FCU after his unwitting getaway driver realized his taxicab was being used for that purpose and drove away.

Events

WASHINGTON-With more than $700 billion in bailout funds approved by Congress dedicated to saving troubled banks, lawmakers are shifting their attention to troubled homeowners in hopes of stemming an expected new rush of foreclosures.

WASHINGTON-The credit union lobby was still waiting last week for word from the Treasury Department on whether it would help out in the rescue of corporate credit unions.