ALEXANDRIA, Va. – NCUA said the initial offering of the CU System Investment Program, aimed at pumping new liquidity into a handful of corporate credit unions, will result in $4.9 billion being provided to two corporates, U.S. Central FCU and WesCorp FCU, this Friday.

NORWALK, Conn. – The Financial Accounting Standards Board voted yesterday to change guidance for accounting for impaired securities so that preparers of financial statements may rely more on expected cash flows, rather than the current distressed market values, when assessing the fair market value for their investments.

ABILENE, Texas – Abilene Teachers FCU said it will be giving its members an interest rebate of 7.5%, amounting to about $500,000.

LAS VEGAS – Clark County CU paid its members a bonus dividend yesterday for the night year in a row–a $2.9 million payout this year.

DEARBORN, Mich. – Members of DFCU Financial FCU woke up yesterday richer–by $17 million-courtesy of their credit union’s third annual bonus dividend.

DETROIT – General Motors and Chrysler announced yesterday they will be making their vehicles available at a discount through credit unions across the country, expanding the "Invest in America" program started by the Michigan CU League last month.

SAN BERNARDINO, Calif. – Arrowhead Central CU, which is expected to report an annual loss, announced yesterday it is closing four branches throughout Riverside and San Bernardino counties, shelving plans for new branches and may lay-off as many as 30 employees.

SAN BERNARDINO, Calif. – Arrowhead Central CU, which is expected to report an annual loss, announced yesterday it is closing four branches throughout Riverside and San Bernardino counties, shelving plans for new branches and may lay-off as many as 30 employees.

RICHARDSON, Texas – Texans CU said yesterday its president and CEO David Addison is resigning amid recent legal turmoil and as the credit union is about to announce a $22 million losss for the fourth quarter and a $29 million loss for 2008–its first ever annual loss.

FARGO, N.D. – A 21-year-old man accused of robbing First Community CU here last month sent a text message to his girlfriend confessing to the crime as police were interviewing her.

LOUISVILLE, Ky. – Two men, one an employee at Beacon Community CU, pleaded guilty to draining almost $40,000 from 22 member accounts after stealing the identities of the members and using them to create phony credit cards.

WILLISTON, Vt. – New England FCU said it is offering three $3,000 scholarships this year to nursing students.

WILKES-BARRE, Penn. – Choice One Community FCU said its long-time president and CEO John Kebles is retiring and will be succeeded in the corner office by the $60 million credit union’s chief financial officer Tom Smith.

PRINCE GEORGE, Va. – Fort Lee FCU said yesterday it signed with ClearPoint Credit Counseling Solutions to provide credit counseling to military personnel stationed near Petersburg, Va..

PORTSMOUTH, N.H. – Service CU said it has gone live with Integrated Media Management’s TotaleAtlasWeb remote signature capture and secure document delivery solution.

DAYTON, Ohio – Dayton Firefighters FCU said it paid its members a 25% bonus dividend to members totaling over $159,000.

DALLAS – A displaced auto worker saved her way to Neighborhood CU’s $25,000 savings contest grand prize.

JACKSON, Miss. – Fast-growing community development credit union HOPE Community CU announced yesterday it has agreed to acquire American Savings CU, an ailing Memphis, Tenn.-based credit union of similar size.

ALEXANDRIA, Va. – A comprehensive rescue plan submitted by the corporate credit union network to NCUA proposes that the emergency lending fund known as the Central Liquidity Facility be used to pump as much as $15 billion of new funds into the corporates or even be utilized to move billions of dollars of distressed assets off the corporates’s books.

NORWALK, Conn. – The Financial Accounting Standards Board is expected to offer some relief today to corporate credit unions and banks with large holdings of impaired securities by changing some of the rules for fair value, also known as mark-to-market accounting.