RALEIGH, N.C. – State Employees CU is expected to announced later today a new commitment to invest another $500 million in the state’s student loan program, making a total of $1.6 billion pledged this year to fund educational loans.

LANSING, Mich.-A faltering automobile industry and seniors struggling to pay for essentials have prompted Auto Body Credit Union to introduce two new products to help members navigate a tight economy and the holidays.

AUSTIN, Texas-The $12.9-million Texas Transportation FCU, San Antonio, has been absorbed via merger by Greater TEXAS FCU, with its branch becoming that of GTFCU. Texas Transportation is the fifth CU to merge with the $320-million Greater TEXAS in the past five years.

NEWARK, N.J.-Federal authorities have charged 20 individuals around the country they believe are responsible for draining millions of dollars from credit unions and banks around the country by tapping into home equity lines of credit.

WesCorp Recalculates Values On Investments

Have you found an effective way to tell your credit union's story, or the credit union story itself? The 4th Annual Frankie Awards are now calling for entries. The awards recognize credit unions that have found an innovative way to explain what they are, how they're unique, and why it should matter to members and non-members alike. As always, the Frankies have kept the barriers to entry conveniently low. All you have to do is send an explanation of how you've been telling your story, and attach any supporting marketing materials. The Frankie Awards are priced at the credit union-discounted price of FREE! Deadline is Dec. 31. Send your entry to fdiekmann@cujournal.com.

WEST PALM BEACH, Fla.-In search of funds, banks are bidding up certificate rates across the country, forcing credit unions to rethink their pricing. In a special report in this issue, members of the CUNA CFO Council share with Credit Union Journal their response strategies for dealing with the increased rates without jeopardizing ALM. Read about the tactics they are using by clicking on the related links at right.

World Economy Affecting Funds

FLINT, Mich.-Officials at Dort FCU are winnowing down a pile of 100 applications they have received for two home foreclosures they are giving away in the credit union's Home for the Holidays Contest.

TALLAHASSEE, Fla.-Gov. Charlie Crist joined credit union and banking leaders in Florida in introducing a voluntary 45-day halt to home foreclosures. The governor made the announcement with representatives of the Florida CU League and the Florida Bankers Association, who will both urge their members to join the temporary moratorium.

WASHINGTON-While other lenders are tightening their portfolios, credit unions originated 14.7 million new loans totaling more than $200.2 billion through the first nine months of 2008, according to analysis by Callahan & Associates.

CFO: Dan Leclerc

SAN ANTONIO, Texas-Add insurance premiums to the list of things that are only going to get more expensive, which is why CU Journal asked several insurance experts to share strategies credit unions can use to help keep the cost of insurance down.

CFO: Tim Lukomski

CFO: Jose Garcia

SVP: Carolyn Jordan

CFO: Peg Lamb

The Christian Science Monitor featured Jenny Gueverra, an employee of Valley CU, San Jose, Calif., in a story on children in the workplace. The story noted that Guevarra, for instance, keeps her baby daughter in a playpen next to her cubicle, and quoted her saying she had concerns about placing her child in daycare. Valley CU has had 54 such babies in its program over the past 10 years.

MONTPELIER, Vt.-Mortgage lending may not be as hot a commodity as it was during the housing boom a few years ago, but one credit union, like many other financial institutions, has turned to technology to play defense against increasing competition in a turbulent market.

LAS VEGAS-With so many others backing off of mortgages, credit unions are hoping to make serious inroads into marketshare, making the need for a more streamlined, technology-driven process all the more important.