APRIL

You’re feeling pretty good about yourself these days. While lenders all over the country were pushing risky loan products, you weren’t. Negative amortization? Never. 100% LTV? No way. High debt-to-income ratios? Not you. Adjustable rate mortgages not in a member’s best interest? Hey, you know better than THAT.

As members file into Guadalupe Credit Union’s 60th annual meeting it feels like a joyous family reunion. The setting is the school cafeteria at Santa Maria de la Paz Catholic Community Church, just 50 yards behind the church itself. It is late February immediately following 12 o’clock mass with the temperature hovering at 47 degrees. Whole families are intermingling; hugging, laughing and greeting each other. A Mariachi band plays as children run with balloons and enjoy punch and snacks, anticipating the New Mexico style buffet lunch with amazing homemade contributions.

MARLBOROUGH, Mass. - The New Hampshire Credit Union League is reporting credit unions in the state have more than doubled projections for the amount of loans made in a special program for underserved communities–and did so a year early, to boot.

MONTEREY, Calif. - According to Joe Sullivan, the five characteristic traits of a leader are:

MONTEREY, Calif. - There are three simple things that make any organization, including credit unions, stand out in their markets. Identifying those three things isn’t the challenge–not surprisingly, executing them is.

WASHINGTON - The Senate was working last week on a compromise housing relief bill that was not expected to include the controversial provision to allow bankruptcy court judges to restructure mortgages.

INTELLIGENT CHECKING DEBUTS

WASHINGTON - The Federal Trade Commission will require TJX Cos. to submit an independent security audit to it for the next 20 years but will not issue a fine against the national retailer for the huge data breach that compromised millions of credit union and bank accounts.

As NCUA considers adding examiners nationally as well as within Region 5 (Credit Union Journal, March 28), the California Credit Union League welcomes the agency’s proactive approach to helping credit unions make important financial decisions during the current economic downturn.

Service Security FCU, San Antonio, Texas, named Sandra Quinn senior mortgage officer, Kathy Gonzales service center manager and Mike Cubeta assistant vice president of legal services.

Events

MARLBOROUGH, Mass. - Digital FCU said its DCU Realty LLC unit is offering local residents bus tours of foreclosed properties to help boost real estate sales and lending. The “Foreclosure Bus Tours” were conducted on two Saturdays earlier this month and will be continued through May. The tours cost $20 for credit union members and $25 for non-members. The properties are not open houses but are vacant homes with the power and water shut off. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

SCHENECTADY, N.Y. - In an effort to woo young members, Schenectady Teachers FCU has introduced its own members blog.

SACRAMENTO, Calif. - A man convicted of seven area credit union and bank robberies last week was sentenced to a year in prison for each of the heists–a total of seven years behind bars.

Fred Becker, CEO, NAFCU: “The (Blueprint) fails to take into account the unique role of credit unions and the benefits they provide to the American consumer. The Treasury blueprint calls for consolidation of the national bank, national savings association and federal credit union charter into a single ‘federal insured depository institution’ charter. While not specifically stated, it appears that Treasury is also seeking to create a single federal deposit insurance fund to replace FDIC coverage and the NCUSIF,” Becker said, adding, “NAFCU was established to create an independent regulator for federal credit unions and a federal insurance fund that we believe provide the necessary safeguards for a healthy credit union system. The value of the current, separate federal regulatory and share insurance structure for credit unions is undeniable.”

PROPOSED CHARTERS

PHILADELPHIA - John O’Donnell demonstrated the greatest ability to keep a running tab on the cost of groceries and as a result beat out five other members of American Heritage FCU here as part of a shopping contest. O’Donnell finished the race with a total of $560 in groceries, and as a result won an additional $600 in groceries and an automatic entry for the credit union’s 60th anniversary grand prize, a 2008 Chevy Malibu Hybrid, to be awarded in November.

WASHINGTON - The Bush administration refused to engineer a rescue of the troubled student loan market, even as major lenders continued to exit the market.

BROOKFIELD, Wis. - In an effort to reach the growing Gen Y marketplace, Fiserv is debuting a new application built on the Facebook platform that will let members manage their finances directly from the popular social networking utility.