ST. PETERSBURG, Fla. – PSCU Financial Services has launched a major promotional campaign for its contactless debit cards to help boost the use of this technology among credit unions.

SPOKANE, Wash. – One man was arrested and his brother is being sought on drug charges after an alert teller at Spokane Teachers CU called in the police when she smelled marijuana all over a wad of $2,300 deposited by one of the men.

ALEXANDRIA, Va. – The NCUA Board yesterday approved the biggest rescue in the history of credit unions with a $1 billion cash infusion into U.S. Central FCU, the central bank for credit unions.

LENEXA, Kan. – U.S. Central FCU, which has been grappling with growing unrealized losses on its vast holdings of asset-backed securities, said today it expects to report a $1.1 billion loss for 2008 when it presents its financial statements early next month.

LENEXA, Kan. – U.S. Central FCU, which has been grappling with growing unrealized losses on its vast holdings of asset-backed securities, said today it expects to report a $1.1 billion loss for 2008 when it presents its financial statements early next month.

ALEXANDRIA, Va. – The NCUA Board this afternoon approved several steps aimed at stabilizing the troubled corporate credit union network, which is struggling to cope with more than $18 billion of unrealized losses on corporate investments.

ALEXANDRIA, Va. – The NCUA Board this afternoon approved a plan aimed at stabilizing the troubled corporate credit union network, which is struggling to cope with more than $18 billion of unrealized losses on corporate investments.

WASHINGTON – NCUA Chairman Michael Fryzel called on new Treasury Secretary Tim Geithner yesterday to reconsider coverage under the Treasury’s Troubled Asset Relief Program to help the growing number of troubled credit unions.

PHILADELPHIA – A man suspected of robbing five area credit unions and banks in 2007, at least one while wearing gauze to hide is face, pleaded guilty yesterday to bank robbery charges.

PAINTED POST, N.Y. – First Heritage FCU plans to complete its acquisition of CCSD FCU next week, creating the biggest credit union in the Elmira-Corning region.

HERNDON, Va. – The board of NACHA, which sets rules for automated clearinghouse transactions, has elected a credit union executive, Marcie Haitema, executive vice president of correspondent services at U.S. Central, as its new chairman.

LA CROSSE, Wis. – Altra FCU said it has signed a long-term network participation agreement with PULSE.

DAVENPORT, Iowa – Family CU said yesterday it has opened its seventh branch and first in Illinois, in Silvis.

FT. LAUDERDALE, Fla. – BrightStar CU said it has implemented a new system developed by CUNA Mutual and Fidelity National Information Systems that automates the reporting of credit card fraud claims.

GRAND RAPIDS, Mich. – Federal prosecutors said yesterday credit unions and banks have recovered more than $16 million from in the alleged fraud to buy phantom yachts but are still seeking to locate as much as $9 million more owed to the fleeced institutions.

WASHINGTON – The House Judiciary Committee fended off objections from credit unions and other lenders and voted yesterday to endorse a bill that will allow troubled homeowners to ask a bankruptcy court amend the terms of their mortgages.

CHARLOTTE, N.C. – Charlotte Metro CU will make loud noises during the Super Bowl again this year with a TV commercial that emphasizes the piggishness of growing bank fees.

WASHINGTON – The House Judiciary Committee fended off objections from credit unions and other lenders and voted to endorse a bill that will allow troubled homeowners to ask a bankruptcy court amend the terms of their mortgages.

CAPITOLA, Calif. – Bay FCU, which reported a $3.5 million loss for 2008 last week, said yesterday it has reduced its workforce by 13%, about 30 employees, the latest casualties of the state’s growing credit union crisis.

SAN DIEGO – North Island Financial CU, coming off its worst year ever with a $50.2 million loss, announced yesterday its long-time president Michael Maslak has retired.