PARCHMONT, Mich. – First Community FCU said it has become the first credit union to install Integrated Media Management’s Teller Item Capture with DataSafe, the credit union’s in-house core processing system.

BALTIMORE – Destinations CU said it opened a new headquarters here last week, a 10,000 square-foot building.

LOS ANGELES – In a sign that the recession may be spreading in this southern California epicenter of the real estate crash, dozens of credit unions throughout the state are reporting new losses where they were absent before.

PHOENIX – Some of the nation’s largest credit unions are reporting record losses this week, threatening the existence of some of them and posing the potential of big losses for the National CU Share Insurance Fund.

MIDLAND, Mich. – Dow Chemical Employees CU announced a $9 million special payment to its members, just as the $1.2 billion credit union was reporting one of its best years.

AKRON, Oho – Towpath CU is offering to pay members who bring in their loose change this week an extra 10% of the total they bring in, as part of this year’s saving campaign, "Akron Saves."

VACAVILLE, Calif. – Travis CU announced it is offering 20 $1,000 scholarships.

BARTLESVILLE, Okla. – 66 FCU began offering its members free mobile banking last month.

ALEXANDRIA, Va. – NCUA announced Friday it has approved a charter for 1st Bergen FCU in Hackensack, N.J., which will serve almost one million residents of Bergen County, just outside of Manhattan.

ATLANTA – Suncoast Schools FCU will receive a $500,000 grant from the Federal Home Loan Bank of Atlanta to help a local non-profit build 50 units of affordable housing in Riskin, Fla.

PITTSBURGH – The Federal Home Loan Bank of Pittsburgh said last week that mounting losses on its mortgage backed securities could push it up against regulatory risk-based capital limits.

WASHINGTON – This week a new administration will take over in Washington, with no shortage of challenges or problems to fix. What if you were the new president, or a newly elected member of Congress? What would be some of your proposals and solutions? Credit Union Journal wants to hear from you.

ALEXANDRIA, Va. – Dozens of credit unions reported losses for 2007 yesterday, at the outset of what is widely expected to be the worst financial reporting period ever for credit unions.

WASHINGTON – In what may be considered unusual timing, Congress reintroduced a new credit card reform bill last week, just days after the Federal Reserve approved new card rules that would do many of the same things.

NCUA Prohibits Individuals From CU Industry

SANTA CLARA, Calif.-In a move designed to brighten its appeal to workers in the Silicon Valley region here, KeyPoint CU soon will offer a remittance program that will allow members to send money abroad to recipients in six countries.

WASHINGTON-This week a new administration will take over in Washington, with no shortage of challenges or problems to fix. What if you were the new president, or a newly elected member of Congress? What would be some of your proposals and solutions?

SEATTLE-The Federal Home Loan Bank of Seattle reported unrealized losses on its private-label mortgage backed securities will push it below regulatory capital limits and could force it to suspend dividends and excess stock repurchases.

U.S. Central's Ratings Downgraded Again

GRAND RAPIDS, Mich.-CU*Answers said that for clients utilizing its CU*BASE processing system it has introduced an interface to Experian's Authentication Services (AS1) to help clients with Red Flag Compliance."Credit unions are able to complete AS1 verification as part of the CU*BASE workflow process at the point of account opening," the company said. "In the event a data element fails a specific test, the system will allow the user to update incorrect data and resubmit the request up to three times. Once the employee is satisfied with the data, the results are automatically recorded as an Audit Tracker record for permanent retention."