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AUGUSTA, Maine - The state Supreme Court here approved credit unions' authority to offer interest on Lawyers Trust Accounts, better known as attorney client trust accounts. The Maine Bar Foundation has sought to bar credit unions from offering the lucrative IOLTA accounts. Under the new rule, which will be effective Jan. 1, and applicable NCUA regulations, credit unions may accept IOLTA deposits for: funds deposited that belong to a member of the credit union in question; for all deposits, regardless of membership status, in cases where those deposits are made in IOLTA accounts at low-income designated credit unions.

ALEXANDRIA, Va. - The former CEO of now-defunct Northampton-Carbon County FCU was barred from the credit union industry by NCUA last week for his role in a $2-million embezzlement that sunk the one-time $40-million credit union.

CHARLOTTESVILLE, Va. - With its acquisition of LaSalle Bank, Bank of America is fast approaching the federal limit on market share of deposits, according to new analysis by SNL Financial. When the Lasalle Bank deal is concluded, Bank of America will have 9.92% of total U.S. deposits, which means it is quickly nearing the 10% national market share threshold. The analysis, based on FDIC data of 97,000 bank branches, shows JPMorgan Chase & Co. remains the country's number two deposit-holder, with 7.01% of the U.S. market, followed by Wachovia at 5.86% of the market.

CMG Enhances Workers Comp

HIGHTSTOWN, N.J. - A new task force has been formed here with the goal of making sure that small CUs don't just survive, but also prosper.

SECU First CU To Sign On To Mortgage Principles

PORTLAND, Ore. - The $1-billion Northwest Corporate Credit Union is reporting that after implementing VSoft Corp.'s Branch Item Capture it has achieved significant cost savings by eliminating transportation and equipment costs. The corporate said it spent nearly a year determining the best solution for its credit union members before deciding to implement VSoft's Branch Item Capture. VSoft currently has installations with 14 corporate credit unions and leagues, reaching more than 6,000 credit unions.

BRANDON, Vt. - Heritage Family CU has acquired the historic fire station in downtown and plans to turn it into a full service branch. HFCU plans to preserve the 119-year-old building's brick facade and renovate the two-story building as a state-of-the-art branch.

INDIAN WELLS, Calif. - USERS Inc. hosted more than 400 attendees at its 24th annual educational conference, EdCon 2007, at the Hyatt Grand Champions here.

ALEXANDRIA, Va. - NCUA has made an adjustment to its management officials interlock rule to allow CUofficials to serve at more than one institution, as long as each is under $50-million in assets. The agency approved a technical change that bumped the asset-size threshold from $20 million.

NEW YORK - The so-called "Green Revolution" is expanding into IT services, one of the biggest consumers of electricity and other resources.

WESTBROOK, Maine - The Maine credit unions' Campaign for Ending Hunger, in partnership with Good Shepherd Food-Bank, celebrated the second anniversary of the state's first and only "Food Mobile" by presenting a check in the amount of $7,000 (a symbol of the 7,000 pounds of food the Food Mobile can carry in one trip).

SECAUCUS, N.J. - NYCE Payments Network said it will begin offering mobile banking and payments services to financial institutions, saying it will be the first commercially available service from a U.S. debit card payments network.

CHARLOTTE, N.C. - Carolina Postal Credit Union has rolled out a loan program aimed at helping members finance a "Hoopty."

NEEDHAM, Mass. - Is your credit union planning to implement technology solutions such as enterprise business rules management systems or specialized applications with embedded business rules engines?

INDIAN WELLS, Calif. - What can a $100 candy bar teach CUs about the relative value of members?

As our CU grows, what are your panel's thoughts on suppliers/vendors getting involved or giving feedback on candidates a CU is considering for an IT position?

BINGHAMPTON, N.Y. - Credit unions around the country found any number of ways to celebrate International Credit Union Day and Week last week. At GHS FCU, it was with reptiles and a clothing drive. The credit union had representatives from the Reptile Co. on hand at its Upper Front St. office, with local morning radio host Glenn Pitcher broadcasting from the facility. Every GHS Branch collected winter clothing for charity. Each GHS location also had a prize drawing for a gift basket.

MADISON, Wis. - The average salaries of male and female CEOs at credit unions with $100 million or more in assets are almost identical overall, according to a new CUNA survey.