LAS VEGAS - The president of one corporate credit union is urging credit unions to maximize their balance sheets by better utilizing "leverage."

SAN DIEGO - Perhaps appropos of the just-concluded Olympics, Fred Becker quotes Chinese philosophy in looking at what's ahead for credit unions.

SEWICKLEY, Penn. - The number eight symbolizes wealth and prosperity to the Chinese-and to residents of this community recently, as well.

ARLINGTON, Va. - NAFCU said it sees significant potential cost increases for credit unions in a plan by the Fed and FTC to implement the risk-based pricing provisions of the Fair and Accurate Credit Act of 2003 (FACT Act). Specifically, NAFCU noted the requirement that a credit union is to provide a risk-based pricing notice if, based on a credit report, it offers or extends credit to a consumer on terms that are materially less favorable than the most favorable terms available to a substantial portion of consumers from or through the credit union. What that will mean in practical terms, said the trade group, are more costs to credit unions for programming or restructuring system applications; revising and developing credit review, approval and denial procedures; developing, producing and distributing the notices; and monitoring for compliance. In addition, said NAFCU, there are also issues related to providing more disclosures to members. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/

WASHINGTON - The Defense Department is recommending that Congress narrow a law designed to protect military service members and their families from abusive payday loans. In a report to the Senate Armed Services Committee, the department said that the so-called Talent amendment, which caps interest rates on payday, vehicle title, and refund-anticipation loans, has mostly worked well.

ALEXANDRIA, Va. - NCUA has sent a Letter to Credit Unions (08-CU-19) emphasizing how important it is to do proper due diligence in setting up and maintaining third-party relationships. Such third parties, said agency Chairman Michael Fryzel, include brokers and correspondents, and "can and will continue to play an important and ever-increasing role in how credit unions operate."

WASHINGTON - Both major credit union trade associations are panning an NCUA plan to dramatically alter the current federal regulatory process for approving multiple group credit unions' applications to serve underserved areas. At the same time, the American Bankers Association indicated it supports NCUA's plan.

In the June 30 edition of Credit Union Journal, Peter Duffy wrote an article titled, "Evolving Credit Unions Demand What Congress Intended: Option to Change Charters." This article could have been written by any of the leaders of the thrift charter conversion movement that has now almost come to a screeching halt because of the perils inherent in the process and the realization that the grass isn't necessarily as green as it might seem on the bank/thrift side of the fence.

SINGAPORE - As the global financial crisis worsens at least one large U.S. bank is going to collapse within the next few months, according to the former International Monetary Fund's chief economist. Kenneth Rogoff said that despite hopes that the U.S. economy had turned the corner, it is "not out of the woods." "I would even go further to say the worst is to come," he told the BBC. "We're not just going to see mid-sized banks go under in the next few months. We're going to see a whopper, we're going to see a big one, one of the big investment banks or big banks." Rogoff offered the prediction during a conference here. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/

WASHINGTON - While Fannie Mae and Freddie Mac post red numbers, the news isn't so gloomy for all. For second quarter 2008, 10 of the 12 Federal Home Loan Banks turned a profit.

Royal CU, Eau Claire, Wis., named Jesse Lukewich home loan representative.

RALEIGH, N.C. - Truliant Federal Credit Union has launched a new program that provides funding to local non-profits.

CLATSKANIE, Ore. - "Vishing" scams appear to be making a resurgence in markets across the country, with credit unions being targeted specifically.

PETERBOROUGH, N.H. - The continuing problems in the U.S. economy are spilling over into credit cards, according to industry analysts, and that includes credit union issuers.

ARLINGTON, Va. - NAFCU is expressing concern NCUA may be preparing to place what it says are unnecessary restrictions on credit unions' member business loans.

WILMINGTON, N.C. - For some time the news in plastic cards has not been encouraging. But one consultant sees opportunity for revenue growth.

PETERBOROUGH, N.H. - Just five credit unions sold their card portfolios during the second quarter, a marked decline in such sales by CUs. According to Brookwood Capital and Asset Exchange, both of which consult on card portfolio issues, total balances sold during the during the quarter were approximately $20 million. On average, the size of the portfolios sold was $4.1 million.

HOUSTON - Surcharge-free ATM access is gaining in popularity among debit card issuers, according to the 2008 Debit Issuer Study, commissioned by PULSE.

ATLANTA - Considering the proliferation and variety of reward programs available, it is surprising that debit card rewards are still so limited in their availability, according to a new study.

SEATTLE - Despite the ongoing credit and housing crises, an economic slump and several financial institution failures, credit union supervisors from two closely watched states say they do not expect any further CU failures based on current conditions.