HIGHTSTOWN, N.J. – New Jersey credit unions hit the regional airwaves with a fall advertising campaign on cable and regular TV and radio. The campaign, dubbed “Difference YOU,” will run for four weeks across a broad spectrum of media in New Jersey, as well as the competitive Philadelphia and New York markets. The campaign, which will feature “Bob the Credit Union Guy,” will deliver a variety of advertising messages, including “It’s All About YOU,” “Our Focus is YOU,” “The Difference is YOU,” “YOU Belong Here,” and “YOU Are the Bottom Line.” The campaign was organized by the New Jersey CU League. New Jersey's credit unions also have signed on as the title sponsor for radio station Magic 98.3's All About Women Expo Oct. 14 at the Pines Manor in Edison. There will be a minimum of 200 event promotional announcements aired on WMGQ-FM and WCTC-AM.

TACOMA, Wash. – A staff sergeant at Fort Lewis and his wife were charged yesterday with using fake identities to obtain more than $1 million in loans and valuables, including a $510,000 home and a variety of goods financed through a false credit union membership. The alleged scheme was uncovered by America’s FCU at Fort Lewis where Sergeant Irvin McClendon and his wife, Sonia, opened an account last January using a fake social security number. The account was apparently used to buy paintings and other goods and pay off bad debts, then to gain credit at other institutions, according to an indictment handed up in federal court here yesterday. Prosecutors said when they searched the McClendon’s $510,000 home they found paintings, a large uncut diamond, 32 fur coats, a pile of high-end purses, and flat-screen televisions in almost every room. Sergeant McClendon earned $61,000 a year for the Army and his wife, a fugitive in other states, appeared to have no income.

NEW YORK – M&F Worldwide, the nation’s largest check printer, said yesterday that billionaire raider Ronald Perelman, the company’s largest shareholder, was named chairman of the board, after the death of his long-time lieutenant Howard Gittis. Gittis, who helped Perelman acquire Revlon, Marvel Comics, and more recently, Clarke American and John H. Harland Co. to create the world’s largest check printer, died last Friday at 73. In addition, Barry Schwartz, general counsel for M&F, was named acting CEO. Perelman controls M&F through is privately held holding company, MacAndrews & Forbes.

SAN DIMAS, Calif. – Financial Service Centers Cooperative introduced its long-awaited connection to 7-Eleven stores this week, providing the nation’s credit unions with shared branching in 2,000 convenience stores around the country. The program, which connects credit unions to Vcom financial self-service kiosks, has been expanded from its original scope and will include another 300 7-Elevens, according to an announcement sent to FSCC’s credit union members. Original plans had called for connections to a total of 1,900 7-Elevens. The 7-Eleven connection will give credit union members surcharge-free access to their funds around the clock at participating credit unions and provide a variety of functions, including cash withdrawal, deposits and bill payment. The 7-Eleven machines are now owned by Cardtronics, which acquired them from the convenience store chain this summer for $135 million.

HONOLULU – Two Hawaii credit unions, Kauai Community CU and CU Hawaii FCU, yesterday announced they have joined Member Business Lending, LLC, the Salt Lake City-based business loan CUSO. Members of the two credit unions will be serviced out of MBL’s new Honolulu office. The CUSO, the largest dedicated to business loans, now has 25 credit union members.

SYRACUSE, N.Y. – Syracuse FCU and Remington FCU yesterday said they have signed with XpressCredit to provide their members with its turn-down lending platform. The online lending platform helps members who may not qualify for a car loan at their credit union. When a member is turned down for a loan under the credit union’s usual process, the loan manager logs on to the credit union’s secure account, then returns a decision within minutes. On approval, the member receives a personalized check that may be taken to the dealership of his or her choice and the loan does not take effect until the check is signed.

SAN FRANCISCO – CMG Mortgage Insurance Co., which is partially owned by CUNA Mutual Group, yesterday became the nation’s first mortgage insurer to cover portable mortgage loans. The GO mortgage insurance program will allow credit union members with secured mortgage loans to transfer key terms of the loan, such as the interest rate, to a new residence, rather than having to apply for a new loan at market rates. Only purchase loans will be eligible for GO program coverage. CMG Mortgage Insurance is a joint venture between CUNA Mutual and PMI Mortgage Insurance Co.

WASHINGTON – The Federal Housing Administration this week unveiled a program to help struggling homeowners avoid foreclosure after the rates on their adjustable rate mortgages rise. The FHA Secure program will allow homeowners who have missed a payment after their ARMs reset to refinance their mortgage with the FHA at a lower rate. Introduction of the program comes at a time when as many as 3 million ARMs are expected to be reset to higher rates within the next year. To qualify for FHA Secure, borrowers must have a history of on-time mortgage payments before rates were reset higher, a steady work history and sufficient income. Interest rates on the existing mortgage must be reset between June 2005 and December 2009 and the borrower must have at least 3% cash or equity in the home.

HAVERHILL, Mass. – Depositors of Haverhill Bank Tuesday night voted unanimously for the merger of a local credit union, Northeast Community CU, into the mutual savings bank. Sixty-seven depositors voted by a show of hands for the rare merger. Members of the $110 million credit union last week approved the deal, 77 votes to 1 vote, at a special meeting. The deal next must be approved by NCUA and the FDIC, as well as the Massachusetts Division of Banking. NCUA yesterday said it had not yet received a merger application from the parties.

FORT COLLINS, Colo. – Norlarco CU, one of three credit unions taken over by NCUA because of speculative Florida real estate loans, this week said its deposits declined by 11% during August, a whopping $32 million, after news of the government takeover was disclosed to the public. The troubled credit union, which was secretly taken over by state regulators last May, said in notices posted at its branches it had deposits of $269.2 million as of Aug. 31, down from $301.1 million on July 31. News of the regulatory takeover was made public in late July. In a letter sent to members this week, NCUA sought to pacify jittery members, saying it is working with anyone with accounts that may exceed federal deposit coverage to restructure the accounts. The letter, signed by Melinda Love, director of NCUA’s Region Five, and Robert Hamer, president of Norlarco, said the credit union will continue to provide services to its members while the regulators work to resolve the loans made to two Florida real estate developments. The credit union has more than $238 million worth of residential construction loans to those projects, many of them in delinquency or default. “The conservatorship,” said the letter, “ensures we have dedicated resources to address issues concerning the delinquent loans with the construction loan portfolio. Our goal is to take the necessary actions to accomplish this goal.”

WASHINGTON – The Securities and Exchange Commission approved regulations today allowing credit unions and banks to continue selling securities products and services to their members without having to register with the SEC, scoring a major victory for credit unions. The regulations, known as Reg R, must now be approved by the Federal Reserve, which is also expected to approve the measure. The rule will allow credit unions to but and sell securities for members; to sweep member deposits into a no-load money market mutual fund; buy and sell U.S. government and municipal securities and commercial paper for members; buy or sell securities as part of a pension, profit-sharing, bonus or dividend reinvestment plan. The regulation is a long time in coming and was part of the 1999 Gramm-Leach-Bliley Act, which gave banks the ability to enter the securities market without having to do so under a subsidiary agreement. The proposal means that most credit unions will be able to conduct broker-dealer activities in-house, and not have to form a CUSO for that purpose.

SCOTTSDALE, Ariz. – Better ATM Services has unveiled its patented technology enabling existing ATMs to dispense prepaid cards through cash trays without using a sidecar. The technology will enable credit cards and banks to dispense gift cards, event tickets, transit passes or other types of prepaid cards through ATM cash trays and without investing in additional hardware. The company is test piloting the ATMs at five Phoenix machines that are running on Diebold ATM driven by Elan Financial Services, a unit of U.S. Bancorp.

PROVO, Utah – Utah Community CU yesterday opened a student-run branch at Provo High School, the first of its kind in Utah County. The in-school credit union will be open for an hour each day during the lunch hour. Students will be able to open checking, savings and money market accounts, and can also receive a check card. Parental consent is necessary for checking accounts and check cards.

PITTSFIELD, Mass. – Greylock FCU celebrated 15 years of partnership with Williams Elementary School with a donation of $1,000 to the school's beautification program. The funds will be used for landscaping around the school's new sign and improvements around the entryway. During the 15-year association with Williams Elementary School, Greylock has underwritten several special initiatives, including the purchase of wireless laptop computers.

MUNCIE, Ind. – Ball State FCU said yesterday it has contracted with SEDONA Corp. to implement the company’s Member Relationship Management solution. The contract was arranged through Bradford-Scott, an Indianapolis-provider of data processing services for credit unions. SEDONA is based in King of Prussia, Pa.

POUGHKEEPSIE, N.Y. – TEG CU and PARDA FCU, based in Rochester, Mich., said they have signed with CU Business Capital LLC and Postilion to implement online member business services. The two companies combine their products to help credit unions expand membership with systems like Postilion’s online Member Business Service solution, and CUBC’s remote deposit capture. Postilion, a unit of S1 Corp., provides a variety of business service offerings through the Internet for cash flow management, bill payment, ACH origination and receipts, payroll services, wire transfers and funds transfers.

FLINT, Mich. – Financial Plus CU said yesterday it has upgraded its mortgage loan origination and servicing system with the implementation of Financial Industry Computer Systems’ Loan Producer origination, and Mortgage Servicer. The $275-million credit union has also acquired the FICS Mortgage Accountant automated custodial accounting suite; Real Time Access, enabling real time integration with its core processing system; and Radstar integrated imaging system. FICS is based in Dallas.

SANFORD, Fla. – A failed attempt to open an account at FAIRWINDS CU has led to the arrest of two Nigerian nationals believed to be running an identity theft ring. The two suspects were arrested with hundreds of forged driver's licenses, credit cards, and even library cards after they were turned away from the credit union branch, deputies said. The two tried to open an account at the credit union with a fake ID but the teller wouldn’t fall for it and called police. When the men tried to run, deputies caught them a few blocks away. Inside their car, investigators found hundreds of fraudulent driver's licenses, bank cards, checks, library cards, even counterfeit money. One Orlando man has been identified as a victim so far, but investigators said it's likely that hundreds of other victims are out there.

ALLENTOWN, Pa.–First Class FCU's president was handcuffed and told he was going to die during Monday's robbery in which $67,750 in cash was stolen. Albert Farnschlader, president of the credit union, one of two employees who suffered head injuries when they were pistol-whipped, was back at work yesterday. Police tracked down and captured three of the four suspects within minutes after the incident. They were arrested after crashing their getaway car onto its roof a few blocks from the credit union. The fourth suspect may have escaped in a black sport utility vehicle stolen from one of the credit union tellers, police said.

POINT PLEASANT BEACH, N.J. – Frank D’Alessandro, the southwest Florida developer who partnered with three now-failed credit unions in a multi-billion dollar land speculation was found floating in the ocean Monday, the victim of an apparent accidental drowning. D’Alessandro, 52, who was staying in an oceanfront home while visiting his ailing mother, was in the habit of taking nighttime kayak trips in the ocean, according to police. His orange kayak was found overturned miles away Monday morning, five days after his mother notified police he was late for a lunch date. Despite an intensive air and sea search conducted by the Coast Guard, D’Alessandro’s body was not found until a passing boat crew spotted it floating in the sea. The Florida developer was a partner in D’Alessandro and Woodyard Commercial Realtors, which helped originate a plan to sell pre-leased homes to thousands of investors that were financed in partnership with Norlarco CU, Huron River Area CU and New Horizons Community FCU, which have all been taken over by NCUA after the failed real estate speculation project fell apart. D’Alessandro’s firm offered closing, financing, property management and procurement of tenants for the pre-leased properties. He and his firm are named as defendants in dozens of suits brought in state and federal court claiming, among other things, the scheme violated federal securities laws. The conservatorship of the three credit unions–New Horizons has been sold of piecemeal by NCUA–has left the federal regulator with as much as $500-million in residential construction loans in Cape Coral and Lehigh Acres, with dozens more credit unions who bought participations in the loan pools also exposed.