ALEXANDRIA, Va. - Credit unions are in Washington this week for CUNA’s GAC looking to talk politics, but they’ll likely find themselves fielding a few questions about their own balance sheets.

Congress Schedules Hearing On CURIA

PERTH AMBOY, N.J. - California CU League managing director Wil Wyatt always had a flair for the dramatic, as well as a devotion to credit unions. On Dec. 30, 1971, he combined the two in a cross-country motor home journey from the League’s Pomona headquarters to promote credit unions’ new role as recreational vehicle lenders. Wyatt and his family set a record by traveling 3,000 miles in a motor home in 60 hours of actual driving time. On hand to extend greetings at 7 a.m. Jan. 2, 1972, were (from left) John Edinger, mid-east district manager of CUNA Mutual and CUMIS Insurance Societies; Wyatt; Perth Amboy Mayor Donald F. Olsen; and Fred Mantz Jr., New Jersey Credit Union League director. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

WASHINGTON — It started off as a single statement on a single page, before growing to 55 pages long and hundreds of pages of supporting material

ALEXANDRIA, Va. - Buffeted by several large credit union failures, NCUA said the National CU Share Insurance Fund lost $185.4 million in December, the most losses for one month or for an entire year in the fund’s existence.

Ross Named Michigan Regulator

SAN FRANCISCO - Visa Inc. last week set a projected value on its shares in its planned initial offering, including the Class B shares that will be apportioned to credit union and bank owners of Visa. Visa plans to raise as much as $18 billion with the sale of 447 million Class A common shares at as much as $42 each, which would make it the largest IPO ever. The shares will be listed on the NYSE under the symbol “V.” The proceeds from the IPO will be used to buy back 123 million Class B shares being issued to credit unions and banks at a ratio of 0.72 Class A shares for each Class B share, making the approximate value of each Class B share $30. Regulators have notified CUs they may continue to hold Visa shares issued in the IPO. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

EL SEGUNDO, Calif. - When Teresa Freeborn discusses developing a new business model at the Credit Union Journal’s Grow Show, she will be speaking from practical and current experience.

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

CO-OP, CU24 Into Walgreens

WHAT:

Subscribers to the Credit Union Journal can take advantage of an enormous archive of reporting in the Journal by going to www.cujournal.com and using the search tool to search by names, words and key phrases. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

WEST DES MOINES, Iowa - Three credit unions in Iowa are participating in a pilot program to determine the effectiveness of remittances to attract Hispanic members.

MARCH

After the long, difficult build up, the news came with sudden, short notice. President Clinton would be signing the Credit Union Membership Act on a Friday, just days away.

I dedicate this article to all the vendors that choose to focus on credit unions.

When the economy struggles, the charitable world collectively shivers. Investment returns from endowments shrink, reducing foundations’ ability to make grants and provide needed programs. Corporate giving takes a hit as budgets are scrutinized.

SILVER SPRING, Md. - A “Reality Check” related to mortgages is proving to be just that.

MADISON, Wis. - Measuring a credit union’s performance against another “high-performing” credit union raises a difficult question: what is a high-performing CU?

SALT LAKE CITY - Members of Beehive Credit Union may have voted to convert to a bank charter, but some are crying foul and vowing to continue scrutinizing what they say are “manipulations.”