SPRINGFIELD, Mass. – Carol Aranjo, the former president of D. Edward Wells FCU who rose to national prominence as a spokesman for community development credit unions, was sentenced yesterday to four-and-a-half years in prison and ordered to pay $1.4 million in restitution for an embezzlement scheme that sunk the 52-year-old institution almost five years ago.

ALEXANDRIA, Va. – Corporate credit unions were reporting increased losses on their mortgage securities yesterday, while several were disclosing exposure to Lehman Brothers Holdings, the Wall Street brokerage that filed for bankruptcy last week.

WASHINGTON – Just when it appeared yesterday that a deal was at hand on the massive bailout of the mortgage markets, the talks apparently broke down when a group of Republican lawmakers opposed to government intervention introduced their own proposal that would have the government insure, rather than buy distressed mortgage assets.

EUGENE, Ore. – The former manager of tiny Georgie-Pacific Toledo Employees FCU, in nearby Toledo, was sentenced yesterday to two years in prison for stealing more than $50,000.

TAMPA, Fla. – Credit unions have rented the University of Southern Florida’s Sundome and will host an exposition aimed for area consumers to “discover the difference” offered by CUs.

SALT LAKE CITY – Utah credit unions’ 100% For Kids Credit Union Education Foundation, which has awarded more than $4 million to the state’s schools, teachers and students, announced three new grants for $5,500.

BULVERDE, Texas – Randolph-Brooks FCU last weekend celebrated the opening of its latest branch with children’s games, refreshments and a chance to step inside a $500 cash vault.

MANCHESTER, N.H. – St. Mary's Bank yesterday said it is expanding its support of the City of Manchester's West Side Revitalization Plan, with a new loan program that offers special pricing for West Side property owners.

FORT SMITH, Ark. – A River Town FCU ATM with up to $10,000 in cash in it was stolen from the basement level of Sparks Regional Medical Center in Fort Smith late Monday night or Tuesday morning.

LAFAYETTE, La. – University of Louisiana FCU this week celebrated its 50th anniversary with giveaways and promotions, including a 4.5% CD.

DuPONT, Wash. – Community 1st CU, based in nearby Tacoma, broke ground on a new headquarters building here yesterday.

HARRISBURG, Penn. – Five members of Belco Community CU filed suit against their credit union over losses they realized on their retirement savings accounts.

WASHINGTON – Bush administration architects of the massive government bailout of the mortgage markets yesterday made it clear credit unions will be included in the program.

WASHINGTON – Corporate credit unions are weighing the pros and cons of the plan to bail out the mortgage industry, even as they cheer the government’s role as stabilizing the market, and thus the value of their huge mortgage securities portfolios.

LAS VEGAS – The ongoing hearings on Capitol Hill regarding possible government intervention into the distressed mortgage market was a hot topic at WesCorp’s CU Outlook conference here Tuesday.

ROGERSVILLE, Tenn. – A former loan processor at an Appalachian Community FCU branch here was convicted Monday of stealing $105,900 from the credit union.

AUSTIN, Texas – United Heritage CU has successfully completed a test pilot of unembossed Visa credit and debit cards.

SEATTLE – City officials here have enlisted 22 credit unions and banks to develop a special program to make it easier for unbanked residents to open low-cost savings and checking accounts.

OCEANSIDE, Calif. – Pacific Marine CU said it has acquired a 6.5-acre site here where it plans to build a new home.

WASHINGTON – The House yesterday voted to ban a variety of credit card practices, most of them targeted at low-income cardholders, but the credit union-opposed bill is sure to die from inaction in the Senate.