MADISON, Wis. - CUNA Mutual Group saw a 36% rise in fiscal year 2006 earnings to $178.1 million, despite skyrocketing losses from credit card fraud.

ONTARIO, Calif. - CO-OP Financial Services has just rolled out a reward program for debit cards designed to allow credit unions to generate deposits and increase member services that also seeks to take a cooperative approach to make it affordable for credit unions of all sizes.

* The $48-million Isabella Community Credit Union in Mt. Pleasant, Mich., which operates a student-run credit union at Mt. Pleasant High School in conjunction with the Mt. Pleasant Area Technical School and the MPHS Accounting Class to operate the SRCU. Faculty and staff can also use the full-service credit union. CEO Jay Anders said the credit union hired "student tellers in the summer, and trained them about credit union service, philosophy and uniqueness to be ready for the fall opening." It also gave away 800 "squishy footballs" to throw out at local high school homecoming games, according to Heather H. Harris.

ORLANDO, Fla. - Central Florida Educators FCU has created savings accounts to teach local foster kids how to save and learn about finances, a move the CU hopes might help grow its membership in the process.

LAS VEGAS - Planning to launch a new lending product in 2008? Start planning now.

WILMINGTON, Del. - The FBI is probing the theft of information on hundreds of accounts of credit union and bank customers they believe came from a local drug store. Credit unions in Delaware and Pennsylvania have shut dozens of accounts and reissued cards for members they believe may have shopped at the local Rite Aid, authorities said yesterday. Members at DPL FCU, Delaware First FCU, Franklin Mint FCU, as well as Wachovia, Wilmington Trust, PNC, Commerce Bank and Delaware National Bank, have been affected by the new breach. Customers at the banks and credit unions said they noticed fraudulent activity showing up on their accounts at the end of January, with cash withdrawals being made from area ATMs in WaWa convenience stores. (c) 2007 Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

LATHAM, N.Y. - Covera Card Solutions signed three new credit unions to its services: First Source FCU, New Hartford, N.Y., Niagara County's FCU, Lockport, N.Y. (both joined the ATM network) and People's Transport FCU, Camden, N.J. (for EFT processing). Covera is a division of CUC Services and services CUs in New York, New Jersey and Connecticut.

RESTON, Va. - Albert Lord, the chairman of student loan giant Sallie Mae, raised $185 million with the sale of 400,000 Sallie Mae shares. The shares were sold at prices between $45.75 and $46.03, just before news of proposed federal cuts in the student loan program pushed the share price down below $42. Lord, who led the privatization of the former government sponsored enterprise, sold the shares to raise money for various business commitments, the company said in a statement. As a result of the sale, Lord owns about 1 million Sallie Mae Shares and options to acquire another 7.3 million shares, putting his financial stake in the company at over $500 million

WILMINGTON, Del. - The FBI is probing the theft of information on hundreds of accounts of credit union and bank customers they believe came from a local drug store. Credit unions in Delaware and Pennsylvania have shut dozens of accounts and reissued cards for members they believe may have shopped at the local Rite Aid, authorities said yesterday. Members at DPL FCU, Delaware First FCU, Franklin Mint FCU, as well as Wachovia, Wilmington Trust, PNC, Commerce Bank and Delaware National Bank, have been affected by the new breach. Customers at the banks and credit unions said they noticed fraudulent activity showing up on their accounts at the end of January, with cash withdrawals being made from area ATMs in WaWa convenience stores.

DALLAS - City Credit Union Chairman Huey May is reaching into his own pocket to give away $2,400 this year to help low-income students develop a habit for saving money, and he says he'll do so every year until the day he dies.

NCUA Chairman JoAnn Johnson was a guest on "Home & Family Finance Radio," the weekly personal finance radio show produced by CUNA. She talked about the importance of financial education and the free educational resources available to consumers on www.mymoney.gov. The segment will air on the show's Feb. 18 broadcast (3 p.m. EST), which can be streamed live on the Radio America network, www.radioamerica.org or downloaded afterward via www.cuna.org. At left is NCUA's John McKechnie.

Throughout 2007, the Credit Union Journal, in conjunction with ENCORE Card Services, are 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. For info: visit www.encore-ecs.coop.

WASHINGTON - CUNA called on the Department of Defense last week to exempt a variety of fees and charges when calculating the new 36% rate for loans to military personnel.

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PURCHASE, N.Y. - MasterCard Worldwide introduced a service offering small businesses a direct method for ordering and personalizing MasterCard-branded gift cards. The gift card can be customized with a company logo, a recipient's name and an embossed message. The cards are available exclusively through MasterCardGiftCard.com. MasterCard said research shows that 75% of small business owners are interested in putting their company logo on a card. Gift cards can be for $10-$500. (c) 2007 Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

PURCHASE, N.Y. - MasterCard Worldwide introduced a service offering small businesses a direct method for ordering and personalizing MasterCard-branded gift cards. The gift card can be customized with a company logo, a recipient's name and an embossed message. The cards are available exclusively through MasterCardGiftCard.com. MasterCard said research shows that 75% of small business owners are interested in putting their company logo on a card. Gift cards can be for $10-$500.

CHICAGO - ATMs-they're not just for quick cash anymore.

SOUTH BEND, Ind. - After revamping its own procurement process by the means of a specially designed credit card, one CU is now offering the added convenience-and cost-cutting-to its select employee groups.

WASHINGTON - CDCU champion Martin Eakes joined civil rights leader Jesse Jackson and the head of the NAACP before Congress to call on lawmakers last week to pass national standards to protect subprime mortgage borrowers from predatory lending practices.

Hearings