DayMet CU announced it has appointed Annlouise Peroutka as its new president and CEO.

SAN FRANCISCO - 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.

CLINTON, Md. - U.S. Postal Service Federal Credit Union is now offering free access to cash for its members, eliminating surcharges for foreign ATM transactions made by members that have a checking account, a debit card, and a minimum direct deposit with the CU.

NEW YORK CITY - While most CUs are struggling with stagnant membership growth, they might want to look to their community development credit union brethren for advice.

WASHINGTON - Former Fannie Mae Chief Executive Franklin Raines and two top lieutenants were charged with fraud in a civil suit filed last week by federal regulators in connection with the multi-billion dollar accounting scandal that has roiled the secondary mortgage market giant for the past three years.

Former Fannie Mae Chief Executive Franklin Raines and two top lieutenants were charged with fraud in a civil suit filed last week by federal regulators in connection with the multi-billion dollar accounting scandal that has roiled the secondary mortgage market giant for the past three years.

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

ALBANY, Ga. - 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.

The banking lobby and its allies were assailing NCUA's new rules on conversions to banks, even before the ink was dry-making it likely the provisions will be challenged in court. "For the third time in three years, NCUA has imposed additional regulatory burdens on credit unions that seek to become mutual savings banks.

U.S. Postal Service Federal Credit Union is now offering free access to cash for its members, eliminating surcharges for foreign ATM transactions made by members that have a checking account, a debit card, and a minimum direct deposit with the CU.

PEWAUKEE, Wis. - Wisconsin credit unions were warning consumers to beware of a new short-term loan being marketed that often carries high fees and rates. So-called Holiday Refund Anticipation Loans are short-term loans that are secured by a taxpayer's expected tax refund and marketed by tax preparation firms. The loans, warned the Wisconsin CU League, can carry excessive fees that translate into triple-digit annualized interest rates, with the consumer often unaware of the total cost. "If your refund is smaller than expected, you may not have the funds to pay back the loan, which could lead to more fees and eventually damage your credit," said Brett Thompson, president of the Wisconsin league. He suggested that consumers consider one of the many credit union alternatives being developed through the REAL Solutions programs. (c) 2006 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

Just as credit unions do more than just provide financial services, Jackie Ryan does more than just design software for credit unions.

MOUNTAIN VIEW, Calif. - On the heels of a $1.3-billion deal for Internet services provider Digital Insight, financial software giant Intuit Inc., is acquiring Electronic Clearing House Inc., a check and card processor for credit unions, banks and retailers, for $142 million.

NCUA approved a request to provide non-dividend paying accounts to members who do not have a Social Security number or other taxpayer identification number. The ruling will make it possible for immigrants without legal documentation to establish mainline financial accounts.

ST. LOUIS - A patron wearing a dark suit and fedora and smoking a pipe while he waits for a teller, may not be a gentleman after all, but a serial robber who has stumped investigators over the past two months.

The CU Associations of Colorado and Wyoming have bought new headquarters in an historic area of Denver not far from the state capitol. (c) 2006 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

Prior Retires From Power Financial

America First Credit Union, Ogden, Utah, named Kent Anderson Centerville Marketplace branch manager and Heidi Carruth North Salt Lake Winegars branch manager.

Board members of the combined organization are: Chair Doug Thompson, CEO, Aberdeen (S.D.) FCU; First Vice Chair Darla Schafer, manager, Flasher (N.D.) Community CU; Second Vice Chair Tim Brown, CEO, Dakota Plains CU, Edgeley, N.D.; Secretary Guy Trenhaile, CEO, HealthCare Plus FCU, Aberdeen; Treasurer Roger Peters, CEO, Service First FCU, Sioux Falls, S.D.; Jerry Peterson, director, Consumer's FCU, Gregory, S.D.; Floyd Rummel, CEO, Dakota Territory FCU, Deadwood, S.D., and Marietta Wahl, manager, Northland Educators FCU, Fargo, N.D.

NCUA last week approved a request to provide non-dividend paying accounts to members who do not have a Social Security Number or other taxpayer identification number. The ruling will make it possible for immigrants to establish mainline financial accounts.