WASHINGTON - The banks are abandoning the largest cities and their minority communities in favor of the upper class and white neighborhoods, according to a new a new study.

FORT WORTH, Texas - CUNA Mutual Group officially opened its new customer operations center here last week as part of its ongoing effort to revamp its approach to customer service and streamline its operations.

WASHINGTON - The House Financial Services Committee approved a new regulatory scheme for the secondary mortgage market, but not before debating the guaranteed line of credit, the so-called federal subsidy, for Fannie Mae and Freddie Mac.

WASHINGTON - In a move that could invite another fight with the bankers, a bill introduced in the House last month would encourage greater member business lending by credit unions.

WASHINGTON - Thousands of runners fanned out through this city with the credit union brand affixed to their fronts as part of the annual Credit Union Cherry Blossom 10-Mile Run. The race-in which more than half the runners were members of area credit unions raised $828,000 for the Children's Miracle Network, a favorite credit union charity, which has benefitted by more than $2.5 million since credit unions began sponsoring it six years ago. More than 700 volunteers from 51 credit unions helped out along the route through the Capital City's streets. Both the women's and men's winners were world-class runners from Ethiopia. Teyba Erkesso, 24, won the women's race in 51:44, believed to be a world record for women, and her countryman Tadasse Tola, 19, won the men's division in 46:01.

The scene: A ballpark, opening day of baseball season.

APRIL

ARLINGTON, Va. - As the Credit Union Journal was going to press, NAFCU President Fred Becker issued a statement in response to NCUA Chairman JoAnn Johnson saying the agency is reviewing the bid by Wings Financial FCU to put an unsolicited merger bid before members of Continental FCU.

DALLAS - Credit union CEOs say they are feeling better about economic conditions overall, although they are generally more tempered in the picture for their own credit union, according to the Credit Union CEO Confidence Survey conducted by Southwest Corporate FCU.

MADISON, Wis. - CUNA Mutual Group hastened to reach out to its credit union clients after hundreds of CU CEOs received an e-mail urging them to vote against the proposed merger of CUNA Mutual Insurance Society (CMIS) and CUNA Mutual Life Insurance Company (CMLIC).

BASKING RIDGE, N.J. - When Affinity Federal Credit Union learned that many of its members who are employed by AT&T were to be switched to a high-deductible health plan, credit union officials knew some money would be moving around, and Affinity wanted to make sure it was on the receiving side of some of those decisions.

WASHINGTON - The banks are abandoning the largest cities and their minority communities in favor of the upper class and white neighborhoods, according to a new a new study.

Regulators Clear Harland,

Until a few years ago, many credit union executives viewed Asset Liability Management (ALM) as an exercise in futile number crunching being thrust upon them as a necessary evil by the regulators. The general practice was to outsource this function to a third-party for a periodically generated "Asset Liability Management Committee (ALCO) Reports Package" to satisfy the regulators. These reports were then stuffed in a drawer to gather dust.

The scene: A ballpark, opening day of baseball season.

I have been a regular reader of the Credit Union Journal's print edition for many years but just recently discovered the newly redesigned website (www.cujournal.com). It is easy-to-read and navigate and packed full of information. The site is an extremely useful research tool to learn more about almost any topic within the credit union marketplace.

Ideally, effective research results presentations start at the beginning of the process with involvement from stakeholders in defining the purpose of the research and then planning its execution. However, even without thorough front-end homework, results presentations can be a dynamic launching pad for improvement and innovation because they foster buy-in, focus, shared learning and teamwork.

The article that appeared on the Credit Union Journal online regarding the resignation of Ernst & Young as Online Resources' accountant was incorrect. There were no disagreements between the companies, as clearly stated in our SEC 8K Filing.

MEMPHIS, Tenn. – Memphis Publishing Co. Employees’ CU has changed its name to Agility Financial CU to showcase a new field of membership. Officials of the 1,300-member, $9 million credit union said the new name is aimed at emphasizing the local nature of the institution, as well as the new FOM, allowing it to serve more than 400,000 residents within the Interstate 240 loop. The credit union has had declining membership over the last few years, with members numbering 2,500 as recently as 2001. The 15-year-old credit union has served employees of the Memphis Business Journal, WMC television and radio stations, and The Commercial Appeal newspaper.

PEMBROKE PINES, Fla. – Power Financial CU announced Friday its board has appointed Allan Prindle as its new president and CEO, succeeding Henry Prior, who retired last month. Prindle has been president and CEO of Pan Am Horizons FCU, which merged with Power 1 FCU earlier this year to create a $550 million credit union, one of the largest in south Florida. Prindle, 43, is a native of Boston and graduate of Boston University College of Business and University of Lowell.