WILLISTON, Vt. - Yet another massive data breach is affecting the credit union industry, this time in the cold climate of the Green Mountain State.

I am writing to clarify a misleading article about Velocity Credit Union's lawsuit against The Standard Insurance Company (Credit Union Journal Online, January 16, 2007).

Credit Card Holders Have Upper Hand In Negotiations

NEW ORLEANS - ASI FCU was deluged last week with applications for loans and grants being distributed under a new state program to help small businesses damaged by Hurricane Katrina.

Southwest Increase Offerings

NEW ORLEANS - ASI FCU was deluged last week with applications for loans and grants being distributed under a new state program to help small businesses damaged by Hurricane Katrina.

DETROIT - The automotive industry press is praising credit unions for achieving a record-setting year in auto lending. A Jan. 8 article in Automotive News quoted a J.D. Power statistic showing that credit unions captured nearly 10% of the new vehicle loan market in 2006, a new record. The article went on to explain that dealers prefer credit unions during higher interest rate periods, because they offer lower rates and longer terms than banks. In 2006, the average new car loan rate for credit unions was 5.7%, compared to 6.8% for banks.

ST. LOUIS - Building a branch and putting out a "Se habla Espanol" sign isn't enough.

WASHINGTON, D.C. - There, in the newly opened lobby of FedChoice Federal Credit Union (formerly IR Federal Credit Union), stands a reminder of Mother Nature's power-a life-sized mannequin wearing a rain slicker and boots and toting an umbrella. At its feet are strategically placed puddles on which floats on a tiny replica of Noah's Ark.

BURBANK, Calif. - For two credit unions located on opposite sides of the country, Partners FCU and Vista FCU have a lot in common. Both are good-sized CUs with more than 100 employees and thousands of members who work for the sprawling entertainment interests of The Walt Disney Company.

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 hallmark of former NCUA Chairman Dennis Dollar's term was making life better for members by reducing the regulatory load on their credit unions. Ironically, the hallmark of current NCUA Chairman JoAnn Johnson's could very well be to have made life better for those same members by adding a regulation or two.

I am writing to clarify a misleading article about Velocity Credit Union's lawsuit against The Standard Insurance Company (Credit Union Journal Online, January 16, 2007).

FEBRUARY

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.

DETROIT – The financially struggling chess program at Detroit Public Schools was rescued Friday by a $20,000 check from Michigan First CU. Officials at the credit union donated the money after a story in the local newspaper detailed how budget cuts threatened to prevent students from competing nationally. The schools chess program has won many national awards. The 80-year-old credit union was chartered as Detroit Teachers CU.

SHERMAN OAKS, Calif. – A long-time member of School Employees of San Luis Obispo County FCU were the lucky winners of a $15,000 sweepstakes from Autoland. Betty Schoepf and her husband Byrle, who will celebrate their 59th anniversary on April Fool’s Day, plan to invest their winnings. The Autoland sweepstakes gave out monthly prizes each month to two randomly chosen credit union members, either a $500 Visa gift card or $500 Shell gift card, as well as a chance to win the $15,000 grand prize.

EAST LANSING, Mich. – Jo Anne Fillwock, who helped craft the state’s 2005 credit union reform bill, retired as president and CEO of Financial CU, after completing the merger of her credit union into Bell Com CU. Fillwock, who headed Financial Health CU for 20 years, played a key role in the rewrite of the state’s credit union statute as chairman of the Michigan CU League’s CU Act Modernization Task Force. She will continue to work part-time for a non-profit her credit union founded, The Empowerment Fund, that focuses on financial education and home ownership programs for low-income and disabled people. The newly formed credit union, known as Option 1 CU, has about $250 million in assets and about 32,000 members.

BATON ROUGE, La. – La Capitol FCU, which is poised to move into a new headquarters, sold its home last week for $2.5 million. The buyer was the Louisiana Homebuilders Association, which plans to occupy half of the 21,000 square-foot building and lease the rest of it. The $300 million credit union plans to move into its new six-story, 70,000 square-foot building this spring.

FRESNO, Calif. – An armed robber shot dead by police after a high-speed chase last week was identified as 30-year-old Douglas Merjil. Merjil, sought by police for the Tuesday hold-up at United Local CU, was spotted by Fresno police in the early morning hours on Wednesday sleeping in a car. He awoke before officers could confront him and fired several shots before leading them on a wild chase through city streets. When police succeeded in stopping the car the suspect came out brandishing a sawed-off shotgun and he was shot dead.