Ent FCU Hits $2 Billion in Assets

WASHINGTON - The FDIC dealt a near-fatal blow last week to the effort by Wal-Mart Stores for a bank charter when it voted to extend its moratorium for industrial loan companies owned by commercial entities for another 12 months.

Southwest Increase Offerings

JACKSONVILLE, Ark. - Arkansas Federal Credit Union has donated $80,000 to Arkansas Children's Hospital Foundation.

WASHINGTON - Republican lawmakers are balking at a new proposal on the much-debated bill to reform oversight of the secondary mortgage market, particularly a provision to collect as much as $700 million a year from Fannie Mae and Freddie Mac to fund affordable housing projects by credit unions, banks and community development corporations.

Hearings

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DALLAS - CU Bank Shares Inc., the parent of the only credit union-owned bank, Town North Bank, said last week it raised $60 million in new capital with a stock offering among its credit union owners.

SAN DIMAS, Calif. - Although 52% of all credit unions are managed by females, the developers of a recent Women's Leadership Workshop say only six of the top 100 CUs-and just 1% of credit unions with $250 million to $1 billion in assets-are led by women.

DALLAS - CU Bank Shares Inc., the parent of the only credit union-owned bank, Town North Bank, said last week it raised $60 million in new capital with a stock offering among its credit union owners.

MANHATTAN BEACH, Calif. - With membership growth stagnant across the credit union industry, one CU and its CUSO are showing how investment services can be key to unlocking that door.

Rogue FCU, Medford, Ore., named Gene Pelham CEO.

EL PASO, Texas - The National CU Foundation and Fannie Mae announced matching $25,000 grants last week to help fund a savings campaigned targeted towards the burgeoning Hispanic population. Almost two dozen credit unions focusing on Hispanic communities will participate in "Hispanic America Saves," an affiliate of the Consumer Federation of America's "America Saves" campaign.

FRAMINGHAM, Mass. - Credit unions affected by the massive security breach at TJX have notified the national retailer they will seek compensation for hundreds of thousands of dollars, or more, of costs associated with recalling and reissuing credit cards to protect their members against fraudulent activity.

WASHINGTON - The National Center For Member Trust (NCMT) has invested in a major ad buy in Capitol Hill publications targeting lawmakers during the upcoming Governmental Affairs Conference and Hike The Hill season, according to co-founder of the CU think tank and State Employees CU CEO Jim Blaine.

WALL STREET - The National Federation of CDCUs said it is being forced by the Post-Sept. 11 reconstruction of Lower Manhattan to vacate its headquarters in the high-rent neighborhood of the New York Stock Exchange and JP Morgan, in the heart the city's financial district.

WASHINGTON - The National Center For Member Trust (NCMT) has invested in a major ad buy in Capitol Hill publications targeting lawmakers during the upcoming Governmental Affairs Conference and Hike The Hill season, according to co-founder of the CU think tank and State Employees CU CEO Jim Blaine.

LANCASTER, S.C. - Founders Federal Credit Union has expanded its footprint in North Carolina with the acquisition of GT&R N.C. Employees Federal Credit Union.

The Credit Union Journal has a very special announcement. Thanks to the support of the CO-OP Network, as part of our Business Development & SEG Conference April 12-13 in Boston, the Journal has arranged for a tour and dinner at America's Credit Union Museum in Manchester, N.H.

WALL STREET - The National Federation of CDCUs said it is being forced by the Post-Sept. 11 reconstruction of Lower Manhattan to vacate its headquarters in the high-rent neighborhood of the New York Stock Exchange and JP Morgan, in the heart the city's financial district.