PHOENIX, Ariz. - Schools FCU has been named one of the “Best Places to Work in the Valley” among companies with 250 employees or more by the Business Journal and BestCompaniesAZ.

BALTIMORE - Ground has been broken for a new clubhouse at the Baltimore Municipal Golf Corp.’s Forest Park Golf Course after MECU helped to bring parties together and put together a lending deal. BMGC had been approved for grants from both the State of Maryland and Baltimore City for $1.1 million, but the project costs were $2.5 million, and loan collateral became an issue as the physical facilities are owned by Baltimore City. The CU worked with Baltimore City Board of Estimates on a loan guarantee, and MECU was able to underwrite a $1.5 million construction permanent loan at a very attractive rate. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

BOULDER, Colo - The $757-million Elevations Credit Union offers a “Nine for Nine” certificate – which, as the name implies, pays 9% for nine months–to new members who also open a checking account or existing members who switch to dividend checking. In addition, existing members who refer a new member are eligible to open a certificate. The minimum amount is $1,000, maximum $2,000.

VANCOUVER, British Columbia - Two Canadian credit unions are pilot testing a new service that allows their members to conduct business via text messaging or Short Messaging Service.

NEW YORK - The growth in online account-to-account transfers, using PCs, cellphones and PDAs, is evident in new data from CashEdge, which reports customers at financial institutions using its services executed more than $38 billion in transfers in 2007, a 300% increase over 2006.

NAPERVILLE, Ill. - The Illinois Credit Union League reported it awarded nearly $220,000 in scholarships and grants related to Small Credit Union Development (SCUD), community service, marketing and business development, and Financial Independence & Revitalization Effort (FIRE) during 2007. SCUD grants totaled $96,220 and were awarded to 51 credit unions, while $13,000 in community service grants went to 11 credit unions. That program is designed to encourage and reward chapter or credit union participation in local community projects. Twenty credit unions received marketing and business development grants totaling $61,780. These new grants, established in 2006, help credit unions with assets of up to $30 million to start or expand outreach efforts. The maximum grant award is $5,000 per credit union per year. One CU received a $10,000 FIRE grant.

WASHINGTON - The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund said it has received 225 applications for the Fiscal Year 2008 round of the CDFI Program, a 122% increase over last year’s round. The applicants requested an aggregate of over $205.5 million in assistance, which also increased from last year’s round by 149%. The CDFI Fund has approximately $26 million available (pending Congressional appropriation), with approximately $2 million of the funds targeted to CDFIs that applied under Category I of the application, what is known as Small and Emerging CDFI Assistance, or SECA; and $2 million in funds targeted to applicants that apply for Technical Assistance only. The remaining $22 million in funds will be awarded to CDFIs that applied under Category II of the application, known as Core Applicants. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

WALNUT CREEK, Calif. - With tax, home improvement and vacation seasons coming soon, Pacific Service CU is taking advantage of the Fed’s recent interest rate lowering campaign by offering its members a 5.99% interest rate on Visa cards.

TWO STUDIES EXAMINE CASH MANAGEMENT, CARD REBATES

WASHINGTON - The National Credit Union Foundation honored two people and one organization with the CU community’s highest honor, the Herb Wegner Award. Here’s a look at a little of what each had to say.

WASHINGTON - The new chairman of the National Credit Union Foundation, Allan Kemp McMorris, has pledged more financial and human resources to expand the Credit Union Development Education (DE) program in the U.S. and worldwide. “Credit union philosophy is our most important asset,” McMorris affirmed in his first address the group. “I promise you I will become a CUDE before the end of my term as Foundation Chair!”

SPRINGFIELD, Mass. - Former D. Edward Wells FCU President Carol Aranjo, a one-time national spokesman for community development financial institutions, was found guilty of conspiracy and embezzlement charges in the 2003 failure of the prominent CDCU.

In the March 3 edition a quote by Colorado CU Association CEO John Dill about the association’s advocacy program should have read: “One of the most important things we are trying to do with our program is not always to be playing defense.” (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

MONTEREY, Calif. - The $30-billion WesCorp will report the best financials in its history when it releases year-end 2007 numbers in approximately 30 days, according to CEO Bob Siravo. Siravo acknowledged the robust financials reflect what he termed “windfall accounting” that will show income beyond what was actually earned.

WAYNE COUNTY, Mich. - In her ruling in the case involving DFCU Financial Credit Union, Wayne County Circuit Court Judge Cynthia Stephens concluded:

As a result, DFCU Owners United embarked on a petition campaign and gathered more than the 500 signatures required under DFCU Financial’s bylaws to call for a special meeting to remove the board. DFCU Financial refused to call the meeting, which led to three credit union members to take the matter to court.

ROME, N.Y. – AmeriCU CU said it added three additional $1,000 grants to its annual scholarship program, making a total of 10 handed out this year.

BURBANK, Calif. – Lockheed FCU yesterday said it is granting employees paid time off for participating in its annual “Partner-to-Paint” community service project.

BETHPAGE, N.Y. – Bethpage FCU yesterday said it has contracted with Walgreens to place 26 surcharge-free ATMs in pharmacies in Nassau and Suffolk counties. The machines are scheduled to go live later this month.

WASHINGTON – Mortgage rates declined significantly this week as the benchmark 30-year-rate fell below 6%, according to Freddie Mac.