LAKE MARY, Fla. - Warren Cole, senior lending consultant for the Lending Solutions Group of Harland Financial Solutions, is urging credit unions to take a very hard look at the affect of the economy on their real estate portfolios. He cautioned CUs are not immune to the potential "valuation shock," which may affect their home equity or mortgage loans.

WASHINGTON - Congress was in the process of a restructuring last week that included the addition of two new subcommittees to the key House Appropriations Committee, part of a renewed effort to control spending.

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WASHINGTON - Regulators warned credit unions and other lenders last week of loading on too much risk with exotic new loan products, a practice known as risk-layering.

DAYTON, Ohio - NCR Corp. plans to spin-off its successful Teradata data storage operations to shareholders. The spin-off will leave two publicly traded companies, including Teradata and its core automated financial services operations. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

ONE: NCUA passes expansive FOM rules, approving the concept of "reasonable proximity" and creating the TIP (or Trade, Industry, Profession) charter. Not surprisingly, the bank trade groups are sharply critical of the new interpretation. NCUA approves the largest FOM in Utah for Tooele FCU and OKs international branches. Saying NCUA has "gone too far" banks in Utah file a lawsuit against the agency.

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.

Carol Aranjo: Former CEO of the D. Edward wells FCU, Springfield, Mass., and one-time chairwoman of the NFCDCU; was sued by NCUA for embezzlement after it placed the CU into conservatorship and is now under indictment.

Throughout 2007, the Credit Union Journal is 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.

LANSING, Mich. - In an effort to provide strategies to help you make this the most successful year at your credit union, the Credit Union Journal is launching its "7 in '07" series, chock full of great ideas to implement at your credit union.

JANUARY

AUSTIN, Texas - Successful lenders are also successful cross-sellers, according to one person.

The Toledo Blade featured Toledo Area Community Credit Union and it's soon-to-retire CEO Pat McGrady, noting its growth and that of other area-CUs in the area in the last decade. McGrady said that the credit union had absorbed nine other, smaller credit unions over the years and predicted that the 40-area CUs would shrink to half that number within five years.

LANSING, Mich. - In an effort to provide strategies to help you make this the most successful year at your credit union, the Credit Union Journal is launching its "7 in '07" series, chock full of great ideas to implement at your credit union.

WEST PALM BEACH, Fla. - The top story affecting credit unions in 2002 is hard to believe today: what to do with all the deposits flowing into credit unions, and how to manage all the resulting profitability!

PHOENIX - The largest credit union in Arizona is trying to send a message to immigrants: their money would be safer in a CU than cash stuffed in a mattress.

ONE: Too Much Money Woes: As billions of dollars flood into CU deposit coffers even as savings rates are slashed, making for healthy profit margins (see related story, right).

United Teletech Financial CU, Tinton Falls, N.J., named John Schwamberger indirect lending manager.

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ALLENTOWN, Pa. - The former president and manager of Nor-Car FCU is scheduled to plead guilty to embezzling almost $2 million from the now-defunct institution in one of the biggest credit union corruption cases in years.