BILLINGS, Mont. – One of two suspects captured last summer in Yellowstone National Park pleaded guilty to the May armed robbery at Community First CU, in Des Moines, Iowa. Justin Shrader, 24, plead guilty to charges of bank robbery and possessing a firearm during a crime for the May 8 hold-up, when he and a partner, both wearing masks and wielding sawed-off shotguns, took cash from tellers and the vault, then left a device that appeared to be an explosive in order to slow pursuit. Shrader’s alleged accomplice, Aaron Rafferty, 32, is scheduled to go on trial next week. The men bought a pick truck after the robbery then fled to Arizona and Las Vegas, before being caught in Yellowstone, after park rangers stopped to investigate a routine hit-and-run accident.

HELENA, Mont. – Helena Community FCU and the Montana CU Network are teaming up with the Career Training Institute to help needy youths establish Individual Development Accounts through the CTI’s Youth Experiencing Security and Success, or YE$$ program. Under the initiative, the credit union will match savings contributions up to $1,000. The funds can be used for education or job training. Participants must undergo financial literacy training.

RANCHO CUCAMONGA, Calif. – CU Direct Lending announced it has shortened its name to CUDL and introduced a new blue-and-red logo and website as part of a rebranding. The nation’s largest indirect lending network for credit unions said the shortened name—already well-known among credit unions, dealers and consumers—will be more easily recognizable. The new logo has the tagline, ‘Fast Friendly Credit Union Financing.’

SHERMAN OAKS, Calif. – Autoland said yesterday it is extending buy-back policy for used cars bought by its credit unions’ members to up to five days or 500 miles—after the purchase. The company, which claims to be the nation’s oldest credit union car-buying service, also extended its limited warranty for pre-owned vehicles to five months, or 5,000 miles. Autoland officials touted the policy as the ultimate test drive, allowing members to get to know the used cars before committing.

OREGON CITY, Ore. – Clackamas Community FCU said it has signed with Ant Hill Marketing to develop a comprehensive marketing and branding campaign. The Portland-based ad firm will create print and outdoor advertising, in-branch marketing programs and materials, internal communications programs, media relations and an interactive campaign featuring a redesigned website and online communications to members of the $165 million credit union. Ant Hill Marketing has done work for several other area credit unions, and designed the Oregon CU Association’s ‘Credit Unions: You Belong’ campaign.

SAN DIMAS, Calif. – Christian Community CU, one of the largest faith-based credit unions in the country, moved into its new corporate office and branch. The 25,000 square-foot, two-story facility includes a community room, training room and employee lounge, as well as the new branch. The credit union, which will be celebrating its 50th anniversary later this year, has $440 million in assets and more than 28,000 members.

TALLAHASEE, Fla. – Sunshine State CU will seek to become the first credit union to have its members vote to convert to a savings bank twice, when members meet at a special meeting next Tuesday. Members of the $170 million credit union approved the charter switch more than two years ago, but withdrew their application for a savings bank charter after they fired their CEO and their chief lending officer left, giving regulators pause about the institution’s management. The conversion to bank is one of five in the works, including that of $1.2 billion Think FCU, in Rochester, Minn.

RENO, Nev. – Sierra Pacific CU paid its members a special interest dividend of half-a-percent (0.50%) on their regular share accounts, believed to be the only Nevada credit union still paying an interest dividend. The payout, which amounted to about $100,000, was credited to members’ accounts on December 31. Sierra Pacific CU has 3,800 members.

CHESAPEAKE, Va. – ABNB FCU rolled out a new payday loan program yesterday, just as some payday lenders have stopped offering services to the credit union’s military members because of new interest caps on loans to military personnel. The CU Express Loan will carry an annual fee of $35 and an interest rate of 18%. The credit union’s main sponsor group, Amphibious Base Naval Base, comes under the new law which caps all loans to military personnel at 36%, a fraction of the annual rate on typical payday loans.

KENSINGTON, Md. – Angry members of Lafayette FCU called on NCUA yesterday reject the vote by members to convert the $330 million to a bank, which passed by a razor-thin 18-vote margin out of almost 5,100 cast. Scott Stien, one of the members opposing the conversion, charged that the 90-day vote was marred by improprieties and misinformation. “There were a ton of irregularities,” Stien told The Credit Union Journal. He said members were told different things as to when the votes must be cast; some members received ballots too late to vote; and that disclosures provided by the credit union to its 16,000 members were incomplete, or, in some cases erroneous. “They were changing the rules as they went along, just to get that edge, which came out to just 18 votes,” he said. Stien and several members have submitted formal complaints to both the credit union’s supervisory committee, and to NCUA, which must certify the vote. NCUA officials confirmed they are investigating the members’ complaints as part of the certification process. Credit union officials did not return phone calls seeking comment.

WASHINGTON – Lawmakers expect to renew efforts in the opening days of the new Congress to pass a new regulatory scheme for the secondary mortgage market, which would tap Fannie Mae and Freddie Mac for as much as $750 million a year in affordable housing funds. The money would be collected by requiring the two secondary mortgage market giants to contribute 5% of their annual earnings to the fund, according to Massachusetts Congressman Barney Frank, who is scheduled to become chairman of the House Financial Services Committee today. The fund is good news for credit unions, who have been largely left out of the more than $350 million a year in affordable housing funds given out by the 12 Federal Home Loan Banks, which are controlled by the thrift industry, still bitter enemies of credit unions. Frank said yesterday restoring federal funding for affordable housing will be his top priority as head of the key financial panel. Funds collected from the two companies in the first year would be dedicated to helping victims of Hurricane Katrina, according to Frank. Frank expressed optimism the Democrats, who initially opposed a GSE bill, will be able to pass a measure that sets a new regulator over both Fannie and Freddie, as well as the FHLBs, without requiring Fannie and Freddie to sell off large portions of their mortgage portfolios, as the Republicans wanted to do. “We will pass a bill that will substantially increase the ability of the regulator to oversee Fannie Mae and Freddie Mac,” he said, during remarks at the National Press Club.

ONTARIO, Calif. – CO-OP Financial Services announced yesterday it has signed with CU Anytime to develop an ATM management service for credit unions. The joint venture, to be called CO-OP ATM Services LLC, will develop a variety of ATM management services, from managing cash carriers, to maintenance, ATM purchasing and placement, and processing of image deposits. CU Anytime, based in Albuquerque, N.M., provides these services for 168 ATMs. CO-OP will repackage and expand these offerings for a national roll-out. CU Anytime is a CUSO owned by 29 credit unions in New Mexico and El Paso, Texas. CO-OP Financial is the parent of CO-OP Network, the largest credit union-owned electronic funds transfer network.

FORTH WORTH – Members of American Airlines FCU got some fast help paying off their Christmas bills with the credit union’s annual year-end bonus dividend – more than $8 million this year.

AUGUSTA, Me. – Beth Oliver, the president and CEO of Capital Area FCU, retired at year-end, after 43 years involvement with credit unions in Maine and around the country. Oliver began her credit union career in 1963 when she went to work as assistant manager of Hudson Pulp and paper FCU, in Augusta. She got her first job as CEO when she moved to Kennebec Journal Employees FCU in 1975, then took the reigns at Capital Area FCU in 1980.Along the way she served as a volunteer for the Maine CU League and chapters, and was a director for TriCorp FCU, the Maine corporate CU, since 1993.

SACRAMENTO, Calif. – Gov. Arnold Schwarzenegger last week named Michael Kelley, a long-time executive in state government, as the commissioner of Financial Institutions, which regulates California’s 210 state chartered credit unions. Schwarzenegger made the announcement from his hospital bed, where he is recovering from a broken leg suffered in a skiing accident. Kelley, 55, has served in state government in California for 33 years, the last six months as acting commissioner of the Department of Financial Institutions.

SACRAMENTO, Calif. – SAFE CU said it has implemented a new browser-based customer relationship management system offered by Better Branches LLC. The CRM system, known as Better WorkGroups, integrates with most core processing systems and offers remote assistance from Better Branches technical staff. It is also customizable, allowing credit unions to choose which functions they want. The credit union plans to roll out the new system in March.

CHANTILLY, Va. – Online Resources Corp. said yesterday it is rolling out a mobile banking and bill payment services for its credit union and bank customers. It will be a hosted service that allows financial institutions to provide their customers with a full range of online services via cell phones and other wireless devices on an OFX-based software application that works on all U.S. wireless networks. The service is being offered through a partnership with Access Softek, a provider of technology software.

WALL STREET – Well-known speculator Mario Gabelli has accumulated a 5.2% stake in Digital Insight, even as the popular Internet services provider for credit unions, has agreed to be acquired by Intuit Inc. Gabelli began acquiring the shares on December 14, two weeks after announcement of the deal, and paid about $65.3 million for the 1.7 million shares, an average of $38.38 each, according to a filing with the Securities and Exchange Commission. Gabelli said his representatives have been talking with Digital Insight representatives about other possible alternatives to enhance shareholder value, such as the sale of one of the company’s businesses. Even if the talks do not bear fruit and the Intuit $39-a-share deal goes through, Gabelli would earn about $1.1 million on his $1.7 million shares. Gabelli representatives would not return phone calls seeking comment.

ATLANTA – Electronic bill payments giant CheckFree announced yesterday it has agreed to acquire financially ailing Carreker, a Dallas-based provider of bank consulting services, for $8.05 a share, or $206 million. CheckFree said the deal will expand its software business and consulting expertise and combine its payments processing services with Carreker’s expertise in check conversion. As a result, the combined organization will be able to convert paper checks into electronic transactions at the earliest possible points in the payments process—whether at the branch, corporate back office of lockbox. Carreker has struggled over the past few years as sales have dried up, and the company reported a loss of $89,000 for its third quarter on $28.3 million in revenues.

NEW YORK – Bisys, the provider of back-office services for financial institutions, is considering a management-led buyout, according to Wall Street sources. Top managers have hired Bear Stearns to review the sale of the company and they are leaning towards a management buy-out. The company has struggled lately with accounting issues that have required a restatement of earnings, as well as scandals regarding its fund administration business, which required it to a total of $81.5 million to shareholders and the Securities and Exchange Commission to settle civil charges.