MILWAUKEE – Metavante Technologies, spun off from Marshall & Ilsley last quarter, yesterday said a $126 million impairment charge related to its Image Solutions business pushed it into the red to the tune of $93 million, or 70 cents a share, for the fourth quarter.

RESTON, Va. – Student loan giant Sallie Mae said it lost $1.6 billion in the fourth quarter–largely due to the cost of a failed bet on itself amid a $60-a-share takeover offer.

SEATTLE – Group Health CU yesterday said it hired John Iglesias, vice president for lending at nearby Washington State Employees CU, as its new president and CEO.

ALEXANDRIA, Va. – The NCUA Board last week renewed the rule setting the maximum allowable interest rate for all credit union loans at 18%.

McLEAN, Va. – Interest rates for home mortgage rates continued their free fall this week, with the average for the benchmark 30-year loan falling to near a four-year low.

ALEXANDRIA, Va. – NCUA yesterday began the process of writing rules to govern new and emerging types of credit union transactions, including hostile credit union takeovers and the acquisition of a credit union by a commercial bank or other entity. The proposal was prompted by growing concerns of member rights in such transactions, especially last year's unsuccessful hostile takeover of Continental FCU by Wings Financial FCU.

HARTFORD, Conn. – Connex CU is seeking families to compete for up to $10,000 in its first “Savers Challenge” contest.

MANCHESTER, N.H. – St. Mary’s Bank, the nation’s first credit union, will kick off a year-long celebration of its 100th birthday this Sunday with a new series of TV commercials on the ABC series: Extreme Makeover: Home Edition.

ALEXANDRIA, Va. -- NCUA said this morning it has chosen Public Service CU, of Denver, as the winning bidder for the remnants of the failed Norlarco CU.

ALEXANDRIA, Va. -- NCUA said this morning it has chosen Public Service CU, of Denver, as the winning bidder for the remnants of the failed Norlarco CU.

KEY WEST, Fla. – State chartered credit unions will try again to get legislative approval to accept government deposits, a lucrative and low-risk business for banks and thrifts.

KEY WEST, Fla. – Credit union executives may want to think twice about the 90 million number, that is, Americans who are credit unions members, according to one long-time industry consultant.

KEY WEST, Fla. – This week’s large rate cut by the Federal Reserve is expected to prompt a similar cut in home equity, car and other short-term loan rates, making it increasingly difficult for credit unions to earn a return on these types of loans.

KEY WEST, Fla. – A congressional plan to reign in charges for overdraft protection, known among credit unions as courtesy pay, was widely dismissed here at the Pennsylvania CU Association’s CEO Summit.

BURNSVILLE, Minn. – As first reported in the CU Journal, US Federal Credit Union partnered with Thrivent Financial and Lutheran Social Service of Minnesota and opened its doors to its newly renovated Eastside Financial Center.

DAYTON, Ohio – What started out as a routine traffic stop led to the arrest of two men suspected of two armed robberies, including one at Wright-Patt Credit Union.

ALEXANDRIA, Va. – NCUA Board Member Gigi Hyland next week will host a free Webinar to discuss key examination issues for 2008.

SAN DIMAS, Calif. – WesCorp will Webcast its quarterly safety and soundness review today at 11 a.m. PST.

ATLANTA – What could be Georgia’s first credit union geared specifically to the Latino market is under development.

EVERGREEN PARK, Ill. – South Division CU merged four small area credit unions in 2007, adding three branches and expanding its services into the downtown Chicago area.