WASHINGTON - A regulatory reform proposal by the Treasury Department that would combine NCUA with the banking regulators ignited a firestorm last week among the credit union lobby groups, some of whom insisted the plan could mean the end of the credit union movement.

DALLAS - The question for credit unions in 2008 won’t be whether or not to ramp up collections activity but how soon to start collections and whether or not to do it in-house.

TJX to Settle With MasterCard Holders

WASHINGTON — Representatives from three of the biggest student lenders among credit unions are scheduled to meet with key lawmakers this week in an effort to claim a place in last year's carve-out for non-profits from the major cuts in federal student loan subsidies.

NORTHVILLE TOWNSHIP, Mich. - Michigan league CEO David Adams will be joining Gov. Jennifer Granholmin on a media tour around the state to spread the word about a package of legislation the governor has signed being called “Save the Dream.”

BOULDER, Colo. - Bill Sterner, the well-respected CEO of Elevations CU and a long-time credit union activist, died following a heart attack he suffered March 28. Sterner, 66, joined the CU, then known as University of Colorado CU, in 1997 as VP and became CEO in 2000, more than doubling the size of the CU to $790 million since then. He became a CU activist in the 1960’s while working to set up financial cooperatives in South America for the Peace Corps. Throughout his career he held executive positions with the World Council of CUs, CUNA, the California and Kansas CU Leagues and was chairman of the CU Association of Colorado at the time of his death.

LATHAM, N.Y. - The New York State Assembly passed a bill that would allow New York state and federal credit unions to participate in the Excelsior Linked Deposit Program, which is aimed at making capital available to small businesses.

CHARLOTTE, N.C. - A teller was in critical condition at a nearby hospital last night after she was shot during a robbery at the State Employees CU branch here last week.

DALLAS - Female employees of Safeway Centrex Federal Credit Union here stay in shape to serve members through daily after-hours aerobics classes in the credit union's lobby. Credit union manager Janice Brabham (front left) teaches the 1981 class. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

BROOMALL, Penn. - The economic slowdown has credit unions across the country taking another look at their loan underwriting standards. Those that haven’t done so are being urged to make sure they do.

WASHINGTON - When corporate credit unions shortly release their 2007 year-end financials, it is not expected most will be reporting any significant losses as a result of failed investments in mortgage-backed securities, according to a spokesperson.

AVONDALE, Ariz. - A new study sheds light on the costs and challenges being felt by credit unions as they administer and support multi-factor authentication (MFA) and other authentication products and services.

FRANKFORT, Ky. - CUNA has filed a friend of the court brief in the Kentucky Court of Appeals saying a lower court ruled incorrectly in applying federal administrative law precedents to a credit union field of membership lawsuit. At issue is a May 2006 suit originally filed with the aid of the Kentucky Bankers Association. Home Fed alleges that the Kentucky Office of Financial Institutions (OFI) has no authority to approve geographic FOMs for state CUs, and in October 2007 the state circuit court agreed. CUNA argues the lower court incorrectly applied federal administrative law precedent, instead of Kentucky administrative law, to deny the OFI judicial deference. The six CUs named in the suit are C&O United CU; Service One CU; Beacon Community CU; GTKY CU, and Kentucky Employees. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

At press time, the number of co-sponsors on the CURIA bill. 218 are needed to have a majority. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

Call For Wegner Nominations

Just 21 Days Left To Grow Your Credit Union!

TUKWILA, Wash. - To grow your credit union, don’t focus on growth–focus on making members happy.

I knocked twice, positive I had heard some shuffling behind the door. Still no answer. I thought about checking the address, but had been here a half-dozen times before and was positive I was in the right place. 1776 Duke Street? Yep. The name of the proprietor carved in the stone façade facing the street: National Credit Union Administration? Yep, this was the place.

CUSN Adds Two More CUs

SANTA ANA, Calif. - Orange County Teachers Federal Credit Union, the nation’s largest credit union for school employees and their families, officially changed its name to SchoolsFirst FCU April 2.