NEW YORK - It's no coincidence that credit unions survived the Great Depression, so it should come as no surprise that the increasingly gloomy economy may actually mean even better times ahead for the cooperative financial movement.

BRATTLEBORO, Vt. - The $45.2-million River Valley CU said it will absorb via merger the $1.6-million Windham County VEA Credit Union, which has approximately 1,040 members. In a statement to members on its website, WCVEA CU said, "Increased regulations from the state and federal governments have made it harder and harder for us to make ends meet. We have explored all avenues trying to find ways to increase our revenues."(c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/

ST. LOUIS - Beware of paralysis.

WASHINGTON - These current market should be golden opportunity for credit unions, but one expert suggests it could be some time before CUs reap the rewards for being conservative, safe and sound during a time of crisis.

An Appreciation Day-In Belgium

WEST DES MOINES, Iowa - While the new combinations of JPMorgan Chase/Washington Mutual and CitiGroup/Wachovia are in scramble mode, now is the time to launch an offensive move to develop and cement your position, according to Dennis Hedlund, founder of the market intelligence firm iEmergent.

WASHINGTON - During six-hour debate in the Senate, almost every senator said he or she is opposed to the idea of the huge bailout, but the majority said they believe a crash in the credit markets will ensue if the bailout is not approved.

WASHINGTON - As the Senate sent yet another bailout bill to the House late last week, credit union executives were expressing doubts on a credit union role, even as they conceded the bailout will benefit them by the effects it will have on the overall mortgage markets-which make up half the credit union business these days.

CHATTANOOGA, Tenn. - The Federal Home Loan Bank of Cincinnati said it approved seven grants totaling $781,300 in funds under the American Dream Homeownership, including $200,000 for Tennessee Valley FCU to help provide accessible condominium living to four households with special needs in Hamilton County, Tenn.

SEATTLE - The trademarked slogan for youth-focused Brass magazine is "Young Today. Rich Tomorrow," which the CEO says is precisely the reason for credit unions to sign up its readers as members.

HARRISBURG, Penn. - Pennsylvania State Employees Credit Union (PSECU) has begun making members' credit scores available to them via its home banking product, psecu home.

OLYMPIA, Wash. - State-chartered credit unions may dismiss a member of its board of directors if the member misses four regular meetings in a year without being reasonably excused, state regulators ruled last week. "In the event that a board members has four UNEXCUSED absences, the board secretary should send written notice of the termination of the board member's service, although the termination is effective automatically," the Division of CUs in the Department of Financial Institutions, said in a new interpretive letter.

WEST PALM BEACH, Fla. - Statement stuffers that speak to CU safety and soundness can be found at www.cujournal.com.(c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/

HELENA, Mont. - Two CUSOs here are merging. UniPro Systems, which processes share drafts, prints statements and provides computer network security, is merging with CU Source, which is owned by 10 credit unions and provides data processing and real estate loan processing for 27 Montana credit unions. The CUSOs said the merger is being prompted by Rocky Mountain CU, one of the three owners of UniPro and which is seeking to sell its stake. The merged entity will operate with the CU Source name.(c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/

WASHINGTON – The House passed the massive mortgage bailout bill this afternoon on its second try, after agreeing to add tens of billions in tax breaks to persuade wavering members.

WASHINGTON – The House passed the massive mortgage bailout bill this afternoon on its second try, after agreeing to add tens of billions in tax breaks to persuade wavering members.

WASHINGTON – In a move that will boost secondary mortgage market sales, Fannie Mae said yesterday will not add a new surcharge on mortgages it buys in some of the weakest housing markets, as it planned to do on November 1.

FARMINGTON, Mich. – Community Choice CU introduced the Community Choice Foundation this week which will provide a minimum of $100,000 to high-school seniors starting college in the fall of 2009.

SEATTLE – Seattle Metropolitan CU said yesterday it has chosen Open Solutions Inc.’s The Complete Credit Union Solution DNA, a core data processing platform using .NET technology.

ST. LOUIS – Anheuser-Busch Employees' CU said yesterday it has selected Ultimate Software's UltiPro Workplace to manage its human resource and payroll processes.