DES MOINES, Iowa – Police believe that three armed robberies here last week, two at local credit unions, were committed by the same man. The first was at Affinity CU on Monday morning. Then Wednesday, an armed man who resembled the Monday robbery, hit Liberty Bank. The suspect appeared to hold-up Financial Plus CU on Friday. Investigators used surveillance videos at all three to connect the robberies.

ATLANTA – S1 Corp. said Friday it will take charges of up to $9 million for the fourth quarter as it consolidates offices, as part of a planned reduction in operating expenses. Company officials did not disclose which offices would be closed or when. But the company said the consolidation will reduce cash flow during the next five years.

CHARLESTON, S.C. – South Carolina FCU said it has installed Diebold’s advanced functionality ATMs with image functionality. The cash machines are equipped with Diebold’s ImageWay software to enable them to handle bulk cash and checks. The machines will validate checks and transmit them electronically to the credit union for processing.

LANSING, Mich. – More than 40 credit unions have pitched in to pledge $40 million in low-interest loans to fund the state’s Career Transition Program. The loans-made at 50 basis-point discounts, will help tens of thousands of auto workers finance supplemental education to transition into new careers. The state is also providing $2 million to pay for books and other ancillary items for the retraining program. DCFU Financial, the state’s largest credit union which serves Ford workers, had pledged the largest amount of loans $10 million worth. Other participants include USA FCU, T&C FCU, BestSource CU, Lansing Automakers FCU, First Community FCU, NuUnion CU, Cornerstone Community FCU, Co-Op Services CU, United Financial CU and Communications FCU.

MIAMI, Ariz. – Just a few days before Christmas, NCUA shuttered Marian Miami FCU, a small credit union that serves 1,700 Catholic church parishioners and local hospital employees. The $8 million credit union was insolveent, according to NCUA. Accounts were insured by NCUA.

BUFFALO, N.Y. – Three armed bandits were collared soon after making off with more than $70,000 from Boulevard FCU Friday, thanks to a quick 911 call from a member watching the heist unfold. The three masked bandits burst into the credit union around 10:30 am and forced members and employees to the floor. At least one of the robbers brandished a handgun that he held to the neck of one of the employees. The suspects stuffed cash into bags and their pockets, before running out. But they were captured just moments later on a nearby street behind the credit union by local police, one of the rare times that robbers are caught immediately following a hold-up.

ALBANY, N.Y. –Patrick Calhoun, the longtime CEO of State Employees FCU will step down Jan. 1, handing the reigns to Michael Castellana. Calhoun took the reigns at SEFCU in 1988 when the credit union had $205 million in assets and served 56,000 members, and grew it to over $1.4 billion and 150,000 members. He is a founding member of the Filene Research Institute and serves on the CUNA Board. Castellana also joined the credit union in 1988 and has been serving as president and chief operating officer for the past few years.

WASHINGTON – The Federal Housing Finance Board agreed Friday to eliminate a controversial plan to boost capital at the 12 Federal Home Loan Banks, which could have required several of the banks to trim the generous dividends they pay their thrift, bank and credit union members. Instead, the federal regulator will review each of the banks’ capital adequacy on an individual basis. The reversal of course came after the thrifts and banks waged a major campaign in opposition to the plan, generating more than 1,100 comment letters against the measure. Both CUNA and NAFCU joined the banking lobby in opposition to the capital plan. The Finance Board also took the first steps towards filling almost 200 public directors seats at the 12 FHLBs by extending the terms of some 60 directors for another year.

WICHITA, Kan. – About 40 homeless men and women enjoyed Christmas this year–albeit a few days early–thanks to the Credit Union of America. But Friday’s ceremony when a local church distributed winter boots, shoes and clothing to the needy had a more significant meaning for two of the recipients, one dying of terminal cancer, who sold their wedding rings a few years ago to help make ends meet. The two were presented replacement wedding rings. “I feel overwhelmed because it made by wife happy,” said Don Hancock of the special gift. “She just didn’t want to die without a wedding ring.” The credit union has teamed up with the local parish, the Messiah’s Branch, for the past five years on the pre-Christmas charity.

On May 19, less than a year after taking their former credit union public in an initial public stock offering, nine executives and directors of Heritage Bank of the South, known until 2001 as AGE FCU, paid themselves 160,820 shares in the newly public bank, valued today at almost $3 million. The largest recipient of the stock grants - which vest in five annual installments but pay dividends immediately - was CEO Leonard Dorminey, who was given 53,300 shares valued at $900,000, according to Securities and Exchange Commission records. Along with stock he bought in the IPO, Dorminey, who engineered the conversion of the credit union that once served CSX Railroad employees, has amassed more than 84,000 in the ex-credit union-valued last Friday at $1.4 million. The former credit union executive is just one of a small group of managers and directors who have built up million-dollar stakes in just a few years after converting their credit unions to banks.

KENSINGTON, Md. - Members of Lafayette FCU voted to approve the conversion of the $330-million credit union to mutual savings bank, the credit union announced last week, setting up what promises to be another prolonged fight with members who oppose the charter switch.

Beehive CU said it has introduced Visa prepaid gift cards and Visa prepaid TravelMoney cards at its eight branches.

The Federal Home Loan Bank of San Francisco has awarded $31.9 million in affordable housing grants, including $3.1 million to four California credit unions.

ATLANTA - The Federal Home Loan Bank of Atlanta announced yesterday it will pay its members a fourth quarter dividend of 5.90%, up from 4.60% paid for the fourth quarter last year.

The Federal Housing Finance Board has put aside a controversial plan to lift retained earnings at the Federal Home Loan Banks, which could have forced as many as half of the 12 regional banks to trim the lucrative quarterly dividends they pay their bank and credit union members.

DAYTON, Ohio - DayMet CU announced it has appointed Annlouise Peroutka as its new president and CEO.

Nine credit union members of Waterbury CT Teachers FCU made their television debut in a commercial touting the benefits of their $136 million asset CU.

DETROIT - Members of DFCU Financial who filed suit against the credit union suffered a big blow when the judge denied their request for access to records related to DFCU's ill-fated conversion attempt.

WEST PALM BEACH, Fla. - The year 2006 may well be remembered as the year of the underserved, under represented and under siege.

What did CUNA achieve for credit unions in the year now ending? Plenty. Here, in no particular order of importance, is a look back at some accomplishments for the year: