MARKHAM, Ontario - Amex Bank of Canada and the AIR MILES Reward Program have teamed up to launch the American Express AIR MILES Platinum Credit Card, designed to give consumers the fastest way to earn AIR MILES reward miles on a credit card.

January 21 Part I: National CU Leadership

WASHINGTON - On the heels of Credit Union Journal’s ongoing special report on diversity in the credit union movement, U.S. Rep. Melvin L. Watt (D-NC), chairman of the Subcommittee on Oversight and Investigations, said his subcommittee will hold a hearing on diversity in the financial services industry. The hearing will focus on the employment, retention and promotion of minorities and women at all levels in the financial services sector and will feature testimony from the Equal Employment Opportunity Commission as well as financial industry representatives and organizations that monitor workplace diversity. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

FEBRUARY

MADISON, Wis. - Credit unions closed out 2007 with loan growth exceeding savings growth and the loan-to-share ratio rising to 84.6% from 83.9% one month earlier, according to data released by CUNA.

NAFCU Backs Savings Campaign

TUKWILA, Wash. - BECU is planning to replace its entire automated teller machine fleet with a new model from NCR Corp. that will eventually be able to offer several advanced functions, including bill payment.

PEORIA, Ill. - The $3.4-billion CEFCU reports it is seeing a surge in refi activity.

JACKSON, Tenn. - A number of credit unions lost power but were reporting no other damage after a powerful cluster of tornados swept through the South killing more than 50 people last week.

WHAT:

WEST PALM BEACH, Fla. - CU Journal gives readers the opportunity to weigh in on a variety of issues. Below are the results of a recent online poll. To add your two cents or see past surveys, visit www.cujournal.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

California: 250,000

LENEXA, Kan. - In another offshoot of the meltdown in the mortgage market, Standard & Poor’s said last week it downgraded its ratings for U.S. Central FCU, from its top AAA (Triple A) to AA+, citing the corporate credit union’s exposure to the mortgage market crisis.

ALEXANDRIA, Va. - NCUA said last week it has added full-time examiners and is conducting additional supervision to some credit unions in the face of huge losses being reported for 2007.

ST. LOUIS - Missouri credit unions will vote on a proposed dues cut at the Missouri CU Association’s annual meeting April 1.

HOUSTON - Smart Financial Credit Union is now looking to create an in-house real estate lending operation. Previously, the credit union had had a partnership with Countrywide and referred members to the mortgage giant.

WASHINGTON - The president is asking for a $28.6 million appropriation for the Community Development Financial Institutions (CDFI) Fund, a 69.6% slashing of the fund from last year’s appropriation of $94 million.

PETERBOROUGH, N.H. - The good news for credit unions in 2008 is that credit card usage by members will increase, and in some cases, credit unions will see better growth than their banking peers. The bad news is that some of that growth may be from members who are financially stressed and are turning to their cards to fund daily living expenses.

SAN FRANCISCO - Mortgage Insurance Co. has released an Executive White Paper developed by the Mortgage Insight Panel (MIP), a select group of high-profile mortgage professionals. “The Basics of Mortgage Lending for Credit Unions” focuses on how mortgage lending can drive long-term relationships with members and outlines practical strategies for credit unions seeking to enter the mortgage marketplace.