OAK RIDGE, Tenn.-Creating a rosier financial outlook is easy according to one credit union; members need to just save more than they spend.

FORT WORTH, Texas-As the unemployment and foreclosure rates continue to climb, so does the number of people who forgo insuring their vehicles, making collateral protection insurance even more critical for credit unions.

NEW YORK-The emerging "green" insurance market may offer some revenue opportunity for CUSOs and other credit union related entities, according to a new poll from Simon-Kucher & Partners.

MADISON, Wis.-While the rough economy may lead to higher insurance premiums for credit unions in the coming years, the hardships could also boost demand among members for insurance products.

RACINE, Wis.-The state's auto dealers lobby, which succeeded in forcing Educators CU to divest its auto sales business, filed suit last month challenging the 18 months state regulators gave the credit union to wind down its business.

NEW YORK-CUs may be getting another new entrant in retail financial services. Two months after converting to a bank-holding company, Morgan Stanley said it is considering a variety of scenarios to increase deposits, including acquisitions of regional banks with a customer base that overlaps with Morgan Stanley's existing brokerage and asset-management clients.

NEW YORK-A new survey of consumers has found none-too-surprisingly that consumers are rating "financial stability" as their top priority when selecting a financial institution.

DURHAM, N.C.-Marin Eakes, the co-founder of Self-Help CU and a prominent figure state as an opponent of predatory lending, was beaten and robbed by four men in a parking garage after leaving the credit union. Eakes suffered multiple bruises, a gash to his forehead that required 15 stitches and a torn bicep that will likely require surgery. The parking garage is used by employees of Self-Help CU. Eakes said he was struck between 20 and 30 times in the head and face. Police are investigating the assault and have made no arrests. Eakes told police he did not recognize any of the attackers.

CU Business Group, Portland, Ore., named Carl Roer, Brian Sherrick, Gary L. Smart and Jeff Stone to its advisory board.

JANESVILLE, Wis.-Just in time for the holidays, and before more members lose their homes, Blackhawk Community Credit Union here has placed a temporary halt on foreclosures, and put a manager in place to oversee the program.

WASHINGTON–"Live well. Below your means." That is the motto of the Department of Commerce FCU. But when CEO Evan Clark began delivering that message to members four years ago, he had no idea how timely that advice would be today-or how it could potentially drive member retention and growth.

HAVERHILL, Mass.-NCUA said last week it finally gave its approval to the unusual merger of Northeast Community CU into Haverhill Savings Bank, the first credit union combination with a bank in Massachusetts.

LENEXA, Kan.-U.S. Central FCU reported the spreading credit crisis tainted more of its asset backed securities in October, pushing unrealized losses on its vast investment portfolio up by another $1 billion, to a total of $7.3 billion.

COLORADO SPRINGS, Colo.-While economists analyze the national data on the strong uptick in mortgage lending, credit unions such as Ent FCU here are seeing it locally.

ALEXANDRIA, Va.-NCUA said last week that Len Skiles, the agency's longest-serving executive, will retire as executive director at year-end, after 38 years with the agency.

I entered the credit union industry back in 1995, three years before HR 1151 was passed. In 1995 the U.S. bailed out Mexico's collapsing economy with $20 billion in support-a bargain at today's bailout prices!

In a time when the financial world is changing-bank failures on top of a mortgage industry crisis, government interventions, and the credit crunch-I begin to wonder, could this be our finest hour?

WASHINGTON-The credit union lobby was working last week to gain consensus on a rescue plan for troubled credit unions.

First, I hope this letter finds you well. I know it does. Despite the turmoil in financial services, the CU movement is alive and well, with over 85-million members, an expanding product and service base, and a strong history of providing great service to members. But there is a problem-and it cries out for your full attention.

DECEMBER