WASHINGTON – In order to facilitate the sale of Wachovia Corp.’s assets to Citigroup earlier this week, the Federal Deposit Insurance Corp. used the "systemic-risk" exception for the first time in history.

TALLAHASSEE, Fla. – Credit Union 24, the largest credit union-owned ATM and point-of-sale (POS) network in the U.S., said the number of surcharge-free ATMs available to members of member credit unions has passed 50,000 for the first time.

WASHINGTON – The acquisition of Wachovia Corp. by Citigroup and Washington Mutual by JP Morgan Chase & Co. has created a new risk-related concern among some analysts: institutions so large the failure of any one of them could cripple the financial services market and drain the bank insurance fund.

WASHINGTON – The trade groups continue to push NCUA for further refinement of the definition of post-merger net worth.

ALEXANDRIA, Va. – The fact deposits at most credit unions are federally insured will be featured in an ad set to appear in newspapers around the country, beginning Thursday with USA Today.

WASHINGTON – As credit unions join the rest of the financial industry in awaiting any potential new “bailout” legislation from Congress, a plan is being put forward in Washington that would represent the first general deposit insurance increase in nearly 30 years as part of the bill to stabilize the financial markets.

The Credit Union National Association said Monday that it is interested in discussing a merger with a fellow trade group, the National Association of Federal Credit Unions.

IRVINE, Calif. – Autobytel, a provider of car buying services to credit unions, said it has cut 75 additional jobs, or 35% of its workforce, as part of cost-cutting efforts.

PEARL RIVER, N.Y. – Palisades FCU said yesterday it gave out 300 DNA LifePrint Kits, child safety journals and other safety information during the New City Festival held on September 21st.

FRANKENMUTH, Mich. – Frankenmuth CU said it has agreed to build two new branches in Meijer stores.

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 help provide accessible condominium living to four households with special needs in Hamilton County, Tenn.

CHEVY CHASE, Md. – GEICO, FCU said yesterday it recently implemented US Biometrics' AccessQ fingerprint biometrics system for controlling physical access to its facilities.

EAST LANSING, Mich. – Michigan State University FCU celebrated the completion of its new 140,000 square-foot home offices last week.

WASHINGTON – CUNA said yesterday it is interested in discussing a combination with NAFCU but it has made no merger offer or overture.

OAKLAND, Calif. – NCUA announced yesterday it has liquidated troubled Kaiperm FCU and sold the remnants of the one-time $145 million credit union to Alliant CU, the $6 billion Chicago credit union formerly known as United Airlines Employees CU.

WASHINGTON – The financial markets crashed yesterday, with the Dow Jones Industrial Average plunging a one-day record 780 points immediately after the House rejected the Bush administration’s proposed $700 billion bailout for the mortgage industry.

WASHINGTON – The House narrowly rejected the massive bailout of the mortgage industry on a bipartisan vote this afternoon, with both Democrats and Republicans decrying the taxpayer cost of the $700 million package.

WASHINGTON – The House narrowly rejected the massive bailout of the mortgage industry on a bipartisan vote this afternoon, with both Democrats and Republicans decrying the taxpayer cost of the $700 million package.

RIVERWOODS, Ill. – Discover Financial Services said last week its profit fell 11% for its fiscal third quarter ended Aug. 31, as loan losses piled up, even as transaction volume on its cards rose sharply.

TYLER, Texas – Two half-brothers were found guilty Friday of five armed robberies over two years, including the 2005 heist at Kelly Community FCU.