Comment

Throughout 2007, the Credit Union Journal is profiling the credit unions of each U.S. state and D.C. Rather than appear in alphabetical order, the states are being featured in the order they became states.

BOSTON - Credit unions are bidding to join the lawsuit against TJX Companies that seeks millions of dollars in costs accrued in the company's massive data breach. SELCO Community CU, of Eugene, Ore., asked the federal court here to certify all credit unions and banks that received an alert from Visa or MasterCard related to the TJX breach for purposes of a class action suit against Fifth Third Bancorp, the cards processor for TJX. SELCO attorneys said in court documents Fifth Third, the nation's fourth-largest cards processor, was told of the breach by TJX on Dec. 26 or 27, 2006, but waited three weeks before it notified its credit union and bank customers. Fifth Third is the acquiring bank for TJX, acquiring and processing the national retailer's Visa and MasterCard accounts.

PFCU Partners With Capital Mortgage

WASHINGTON - The Federal Reserve said it won't shorten check-hold times under the Electronic Funds Transfer Act to facilitate the Check 21 law, but a reduction in the Fed's check clearing operations will have the same effect.

CU Journal explored the advantages larger CUs have over their smaller brethren. Now, CUJ focuses on how some small CUs are not only surviving, but thriving.

EL PASO, Texas - The FBI will have to return almost $76,000 it confiscated from a local executive as part of a corruption probe if federal prosecutors are unable to convince a federal judge they are entitled to the funds, the judge ruled last week.

WASHINGTON - The House voted last week to expand federal backing of mortgages in hopes of helping struggling homeowners avoid foreclosure.

Savings Bank Acquisition of CU Moves Forward

NEW YORK - New York City officials are teaming with four community development credit unions and four banks to offer no-fee starter accounts as part of a city-wide savings initiative.

Governor Lauds brass Program

Arrowsmith Retires After 24 Years

Harvard ECU First With PayPass

LIVERPOOL, N.Y. - When it came to charting the future of her credit union, Theresa Benedict wasn't sure which elements were the most critical to success. That's when the CEO of the Liverpool Central Schools Federal Credit Union did what any good executive would do: she conducted a survey of her members to better understand their needs and wants as the first step toward improving services and increasing her membership base.

Global Credit Union, promoted Lisa Foote to branch manager in Vicenza, Italy.

DES MOINES, Iowa - The Iowa CU League has joined forces with the AARP and national-level business and labor groups to spread financial education and encourage bickering politicians to work together for the common welfare.

Centennial Releases SAM.Suite

OCTOBER

LAS VEGAS - The number of foreclosures have more than doubled in the last year, and we haven't seen the worst of it yet, according to one financial consultant.

WEST PALM BEACH, Fla. - The problems in the subprime mortgage market combined with the large-scale investments in failed home loans in Florida plaguing at least three credit unions have raised bigger questions about overall loan quality at credit unions, and whether more troubles are in the offing.