SAN FRANCISCO – Zopa, the person-to-person lending initiative imported from the United Kingdom last December to much fanfare, announced Friday it is pulling out of the U.S., leaving partnerships it forged with six credit unions on the ropes.

WASHINGTON – The Treasury Department, which took over Fannie Mae and Freddie Mac last month, is directing the two secondary mortgage market giants to start buying $40 billion a month of distressed mortgage securities in order to recreate the failing market.

ALEXANDRIA, Va. – NCUA said last week it has pumped an unprecedented $1.6 billion into credit unions through the Central Liquidity Facility, just as Congress has opened the spigots on the emergency loan fund.

WASHINGTON - The Treasury Department last week was hastily developing plans for its bailout of the mortgage industry and accepted bids to manage up to $700 billion of assets it will buy from banks and credit unions.

COLUMBUS, Ohio - What investment strategy should credit unions be deploying in a struggling, even sinking economy? The same strategy deployed when the economy is strong, several analysts told Credit Union Journal.

BIRMINGHAM, Ala. - The crisis in confidence among consumers toward their financial institutions is leading to media campaigns across the country by CUs and trade groups stressing the safety of credit unions.

DUBLIN, Ohio - As consumers clamor to ensure their deposits are safe, much has made about the National Credit Union Share Insurance Fund. But what of the nearly 200 credit unions that are privately insured?

DALLAS - At least two Texas credit unions have been taken to task by regulators in recent weeks for running ads that suggest that their deposits are safer than those in local banks.

Treasury May Take Ownership In Banks

HARRISBURG, Penn. - Pennsylvania State Employees Credit Union is providing members with their FICO scores on a monthly basis to help them better understand what affects their credit-and better manage their finances-in this tough economy.

SAN DIMAS, Calif. - This week marks International Credit Union Week. As part of the celebration, an hour-long webcast will be held Oct. 16, International Credit Union Day, sponsored by WesCorp and World Council of Credit Unions. Pete Crear, WOCCU CEO, will be the guest with moderator Paul Berry, who hosts Home & Family Finance, a weekly radio program sponsored by CUNA. Viewers will be able to submit questions during the live broadcast, set for 12:00-1:00 p.m. PDT.

SPOKANE, Wash. - Numerica CU was the exclusive sponsor of Balloons Over Valleyfest, part of Valleyfest, a community event in Spokane Valley, Wash. Seven hot air balloons participated in the event by launching every morning from Friday through Sunday, and then taking flight over Spokane Valley. Numerica banners were displayed on each balloon basket. In addition, Numerica employees volunteered on the hot air balloon crews, assisting pilots with the inflation, landing and packing up after the flight. After each day's flight, the balloon baskets were displayed at the Valleyfest event where community organizations, including Numerica, provided free kids activities, live entertainment, and local food.(c) 2008 Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/

YORK, Penn. - Members 1st FCU continued to thumb its nose at the bankers, in the face of this summer's court-ordered roll-back of its field of membership, opening another new branch here.

SEATTLE - Seattle Metropolitan Credit Union gave back to the community last week.

CHICAGO - Their asset sizes are at the opposite end of those troubled institutions that have led to the $700-billion bailout by the federal government, but community development credit unions (CDCUs) expressed general support the legislation.

NCUF Sponsors 'Protect Your Identity' Event

Amid all the other economic news, at least one credit union has its rivals green with envy.

eLynx Adds Watermarking Capabilities

As a CEO, your article: "Losses Mount At NCUSIF" (CU Journal, Sept. 22) is disturbing and disconcerting. Quarterly, the NCUA receives 5300 data. The lights are on but is anyone home at the NCUA?

OCTOBER