BEN STEIN SLATED TO OPEN UPCOMING CUES MEETING

In your strategic planning for 2009:

Many credit union management teams and boards of directors soon will sit down to do their strategic planning for 2009 and beyond. Whether in their own offices or a remote location, regardless of asset size, all will be confronting internal and external issues related to competitiveness and long-term viability. On this page and the pages that follow, Credit Union Journal provides insights and tips on strategic planning from experts across a number of disciplines. What do you think? As always, Credit Union Journal invites and encourages your feedback.

BOSTON - Last week’s charges against 11 individuals in the 2006 hacking of TJX Cos. and several other major retailers may be jeopardized by the fact the alleged ringleader was an informant for the U.S. Secret Service, which cracked the case.

An incorrect photo of Greg Smith, president of Pennsylvania State Employees CU, appeared in the Aug. 4 issue. The Journal regrets the error.(c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com http://www.sourcemedia.com

WASHINGTON - Efforts by Congress to tighten laws on data security have melted away in a virtual babble of congressional committees.

AUBURN HILLS, Mich. - A decision by one major auto manufacturer’s financial arm to cease vehicle leasing could open up opportunities for credit unions to recapture lost market share in the auto loan sector.

WASHINGTON – The mortgage market got some more bad news this morning with Fannie Mae announcing a huge $2.3 billion loss for the second quarter.

LAS VEGAS – ROA, the time-honored yardstick for credit union success, should be pushed aside for a new acronym just one vowel different – ROE, or “Return on Equity.”

DALLAS – Resource One CU is searching for a young spokesperson who will represent the credit union and its new MyLifeMyMoney suite of deposit and loan products targeted at Generation Y, the 18-to-34 year-olds.

PORTLAND, Ore. – Consolidated FCU said yesterday it has joined the Financial Service Centers Cooperative shared branching network.The FSCC Shared Branching interface will provide members of the $175 million credit union 600 in-network locations across the Northwest. These locations are selected 7-Eleven stores with shared branching services offered through Vcom units, the convenience chain’s virtual commerce kiosks.Through the FSCC interface, Consolidated FCU’s members will have access to multiple delivery channels including shared branching at 7-Eleven stores, a 24/7 call center outlet, and an additional 4,400 retail kiosks in 50 states coming soon.

ERIE, Penn. – A military veteran pleaded guilty yesterday to federal charges that he faked his military medals and defrauded Erie FCU of more than $188,000.

AUSTIN, Texas – A+ FCU said it awarded almost $40,000 in educational grants to 40 teachers.

HAMILTON, Ohio – AllWeath FCU said it has appointed Rudy Rattman as president and CEO of the $15 million credit union.

PHILADELPHIA – Philadelphia FCU said yesterday it has joined the Select-A-Branch ATM Network, giving its members surcharge-free ATM access at more than 150 S-A-B locations.

MOON TOWNSHIP, Penn. – Clearview FCU was home to one of America’s treasures for a few hours last week when it stored an original copy of the Declaration of Independence in its vault.

McLEAN, Va. – Long-term mortgage rates were virtually unchanged this week, as the housing market continued to stagnate, according to Freddie Mac.

EL PASO, Texas – El Paso Affordable Housing, a CUSO owned by eight credit unions, said yesterday it was awarded a $550,000 grant from the Texas Department of Housing and Community Affairs to help first-time homebuyers finance a mortgage.

SEWICKLEY, Penn.– Members of PA HealthCare CU were lining up for the last few weeks to get in on the credit union's "Crazy 8s" special, an 8% CD--which commenced at 8:08 am on 8-8-8.

WASHINGTON – Efforts by Congress to tighten laws on data security have melted away in a virtual babble of congressional committees.