AUSTIN - A new website claims it allows credit unions and small community banks to battle the big boys with their rewards checking products for consumers all over the country.

WOODLAND, Calif. - The California legislature has failed to pass a budget by the June 30 deadline numerous times in the last two decades-plus, and it’s on track to do so again. That’s why one CU is preparing to assist its members in case the fiscal year once again ends without paychecks for state employees.

PORTLAND, Ore. - Despite monetary support from the CU Association of Oregon, Oregon State Senator and former CU board member Rick Metsger was defeated in the Democratic primary election for Oregon Secretary of State.

PHOENIX - The ailing economy is tough enough on most Americans. But for a segment of the Hispanic population – those working in the housing industry –the economy and a crackdown on immigration are making it even more difficult to get by, report a number of CUs that serve Hispanic markets.

CU Changes Name To Liberty Bay

MIDDLETOWN, Penn. - Mid-Atlantic Corporate FCU has created a new CUSO, Sollievo Group LLC, to provide retirement programs, insurance and benefits services to credit unions.

Imagine for a moment your local school board has announced a plan to somehow compensate themselves, but they decline to provide further details, saying only that everyone will just have to trust them. Or, let’s say a local government agency is pressed to be a little more forthcoming on what that budget line item “management rewards” might entail, but it, too, says there is just no need to do so, arguing it would invade some people’s right to privacy.

The Wall Street Journal offered a backhanded compliment to CUs, noting their “websites may not look quite as polished and the eligibility requirements may give you pause, but when it comes to low fees and generous rates, credit unions match banks head-to-head.” The story added it’s “not that you’ll find drastically better deals at [CUs], but their products should be among the options you consider when searching for savings and checking accounts, certificates of deposit, small-business, mortgage and auto loans, and credit cards–particularly now, given that credit unions in large part sidestepped the subprime crisis.”

JUNE

The Credit Union Journal is announcing its Call for Entries for its Best Practices awards. It's easy to enter!

Remember the good old days when visionary people got together and started the credit union movement? Well, I don’t either. After all, the first “credit unions” were established in Germany in the 1850s (I’m old, but not that old). Their mission, lo’ those many years ago, was to help common folk who weren’t being served by the banks of the time, and guess what? it still is!

ODESSA, Texas - A member of First Basin Credit Union is alleging numerous improprieties with the election of board members at the CU’s annual meeting in April.

MADISON, Wis. — The beauty of a 401(k) or other retirement product is that it can be a gateway product to both young, working adults and the burgeoning boomer retiree market, as well as to capturing lucrative business services.

In December 2003 I wrote a piece on how consumer debt affects CUs that observed, “CUs will also want to be careful [to] resist ‘chasing’ loans with questionable credit, just as they should resist ‘chasing’ yield in the investment portfolio.”

TUKWILA, Wash. - Looking for ways to leverage the opportunities left in the wake of the mortgage mess? A mortgage CUSO is gearing up to share 18 strategies to do just that.

As I write this column the Dow just plunged 400 points because the price of oil went up–again–to a record high. The oil news, the Dow, mortgage foreclosures, skyrocketing food prices, and unemployment fears. The news today is filled with reasons to fear for our economy and to predict job losses and more loan defaults.

LSSI, Loan Score To Partner

MADISON, Wis. - As loan growth slows in the coming years, mortgages and other loan products that are more insulated from economic downturn should be the focus of credit union lending, advises CUNA’s 2008/2009 Credit Union Environmental Scan (E-Scan).

ALEXANDRIA, Va. - Pentagon FCU became the first credit union in the country to formally swear off converting to mutual savings bank by adopting a Members’ Bill of Rights.

PORTLAND, Maine - Consumer activist Chellie Pingree bested Iraqi War hero Adam Cote in last week’s Democratic Primary for the state’s 1st House District, despite controversial support from CUNA.