TAMPA, Fla. - As credit-market stresses move from mortgages and credit cards to auto loans, some members here struggling to make their car payments are finding it easier to simply walk into the credit union and drop off their keys.

MIAMI - Eight area CUs have bought time on the local NBC television affiliate to tout their service as part of the 100th anniversary of U.S. credit unions.

CCUL/NCUL Redesign Website

SACRAMENTO, Calif. - The $6.7-billion Golden 1 Credit Union is offering a “Mortgage Repair Loan” to members who have lost their homes to foreclosure due to an exotic mortgage.

OVERLAND PARK, Kans. - Credit unions have a secret weapon that banks generally don’t have when it comes to growth: collaboration.

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

CUDL Wins Marketing Award

Looking To Grow Your Credit Union This Year? Here’s How

An interesting question to ponder now that a state court has ruled that a credit union’s bylaws exist for a reason and boards cannot arbitrarily decide whether or not to follow them, is just how certain boards will now react.

HAMDEN, Conn. - Credit unions seeking to reach into non-traditional markets such as underserved communities often hit a hard roadblock in consumers who don’t have traditional credit scores.

This is the second part of a three-part series examining the board function at a CU.

APRIL

In their classic book, “The Discipline of Market Leaders,” Treacy & Wiersema discuss three marketplace differentiators: operational excellence, product leadership and customer intimacy. Product leadership is difficult to achieve in a highly commoditized marketplace, and operationally, few credit unions have much fat to cut. That leaves customer intimacy as a differentiator and driver of growth.

I just read Frank Diekmann’s article, “Three Little Letters, GAC, Are Demanding Three More: ROI,” (CU Journal, March 10), and would like to offer my response. I agree with several of Mr. Diekmann’s points, and found his assumptions on the collective expenditures of CU folks interesting. Those are some big dollars, which reflect how much economic stimulus can be created by having a significant CU gathering.

WASHINGTON - CUNA sent a letter to House Financial Services Committee Chairman Barney Frank in support of Frank’s proposal to use Federal Housing Administration (FHA) loan guarantees as incentives for lenders to accept mortgage writedowns for borrowers facing the prospect of foreclosure.

RICHMOND, Va. - When it comes to marketing to younger consumers, some of the more cutting-edge initiatives involve credit unions exploring the 3-D Internet space, modeling efforts after sites like Kaneva.com, moove.com and activeworlds.com.

JEFFERSON CITY, Mo. - NCUA said it is closing down newborn Missouri Farmers Union CU and merging it into nearby River Region CU because of the declining financial status of the low-income credit union.

WASHINGTON - The Federal Housing Finance Board (FHFB) announced it will allow Federal Home Loan Banks (FHLB) to buy more mortgage-backed securities (MBS) from its members as part of the latest effort to add liquidity to the troubled mortgage market.

WASHINGTON - The National Cooperative Business Association (NCBA) announced that CUNA President Dan Mica will lead a session on public policy and advocacy for cooperative concerns at its annual Cooperative Conference on May 1.

St. Mary’s Bank, Manchester, N.H., named Donald A. St. Germain executive vice president, director of commercial lending and credit administration.