BASKING RIDGE, N.J. - Affinity FCU has a new program to teach basic money management to homeless mothers. The credit union has joined with Middlesex Interfaith Partners with the homeless to teach residents of Amandla Crossing Transitional Housing, in Edison, N.J., basic financial skills they will need to transition to more permanent housing. The financial education course is paired with courses on other basic life skills, like literacy, childcare development and nutrition. (c) 2006 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

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.

KNOXVILLE, Tenn. - A man suspected of an armed robbery at Tennessee Members First Credit Union was arrested riding in the back of a limousine on I-75 headed out of state.

ALEXANDRIA, Va. - 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.

NAFCU is calling for several changes by NCUA to a proposed rule on nontraditional mortgage products.

What will we remember most when we reflect on 2006?

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:

CINCINNATI – The Federal Home Loan Bank of Cincinnati announced yesterday it raised its dividend for the fourth quarter to 6%. That’s up from the 5.75% paid for both the third quarter, and for the fourth quarter last year. The dividend will be paid in capital stock into members’ accounts on December 31.

WILLIAMSPORT, Md. – A branch manager at Washington County Teachers FCU pleaded guilty Wednesday to stealing $19,000 from the credit union during an eight-month period. Cynthia Wigfield, plead guilty to one count of 21 charges. Wigfield had access to the teller drawers and regularly stole cash from the accounts, then falsified the records to cover her tracks, authorities said. The remaining charges against her were dropped in exchange for her guilty plea.

BILLINGS, Mont. – Avanta FCU wants to raise one million pennies for charity. The $10,000 copper mount will be donated to the American Cancer Society’s Relay for Life. The credit union has raised 95,000 pennies so far, with members dropping in spare change at jars stationed at its branches and businesses around town.

McLEAN, Va. – Fixed mortgage rates inched up again this week, for the second week in a row, after falling the previous six weeks, according to Freddie Mac. The average for the 30-year, fixed-rate mortgage climbed slightly to 6.13% this week, from 6.12% last week; while the average for the 15-year, fixed-rate loan moved to 5.89%, from 5.86%. Even with the rise of the last two weeks, long-term rates were lower than they were a year ago. “What is interesting to note is that the 30-year fixed-rate mortgage this week is 1/8 of a percentage point lower than the 30-year fixed-rate mortgage was at this time last year," said Frank Nothaft, chief economist for Freddie Mac. “This could bode well for housing in the new year, and indeed we have seen a spike in refinancing activity over the past few weeks as rates have come down.” ARM rates were mixed this week, with the five-year ARM average rising to 5.96%, from 5.92%; and the one-year ARM dipping slightly to 5.44%, from 5.45%.

COLORADO SPRINGS – Ent FCU, Colorado’s largest credit union, said it has agreed to acquire Decibel Community CU, a $90 million credit union based in nearby Pueblo. Ent, chartered to serve Ent Air Force Base, is already authorized to serve Pueblo County as an underserved community, as well as El Paso, Teller and Denver counties, and portions of Adams and Arapahoe counties. Decibel’s branches, two in Pueblo and one in Rye, will continue to operate under the Decibel name after completion of the combination, expected for Jan. 1. The merger is one of the largest ever for Ent, which has more than $2 billion in assets and 175,000 members.

SAN ANTONIO – A member of Alamo FCU was charged this week by a federal grand jury with passing $352,568 in counterfeit checks he used to buy big-ticket items, including two houses. Charles Eckerman, 53, was indicated on five counts of financial institutional fraud for bogus checks he allegedly passes between July and the end of September. A warrant was issued for Eckerman’s arrest.

SANTA ANA, Calif. – The boards of Orange County’s CU and nearby Credit Union of Southern California have called of talks aimed at merging the two to create a credit union giant. No reason was given. Earlier, the two announced they were negotiating on a combination that would have created a credit union with $1.3 billion in assets and serve more than 120,000 members.

FAIRFAX, Va. – Apple FCU, which services the educational community in northern Virginia, opened its third student branch of the year–and 34rd in-school branch–the second largest in-school network of any credit union. The newest student branch is in Osbourne Park High School. Apple’s Student-Run Branch Program provides real world financial literacy, fiscal education and the opportunity to explore future employment options to students served by 34 high school, secondary school and middle school locations within six school districts across Northern Virginia. The Credit Union’s model has been so successful since its launch in 1995, a version has been adopted by the Future Business Leaders of America.

SAN ANTONIO – River City FCU, which serves telecommunications workers in one of the fastest-growing markets in the country, said yesterday it received approval from NCUA to become a community credit union serving the more than two million people in Bexar County.

ANCHORAGE, Alaska – A raging robber who stormed out of a would-be heist at Denali Alaskan FCU last year was sentenced Tuesday to eight years in prison. Police said Ronald Christian burst into the credit union wearing a black mask and brandishing a six-inch knife and demanded access to the cash drawers. He burst into a rage when he couldn’t get into the fenced-off area and rattled off a series of obscenities before running off without any money. Federal Judge Ralph Beistline said he imposed the eight-year sentence because of the 43-year-old’s extensive criminal history and drug abuse, as well as the statements of frightened credit union members.

BASKING RIDGE, N.J. – Affinity FCU has taken the financial literacy goal a step further, with a new program to teach basic money management to homeless mothers. The credit union has joined with Middlesex Interfaith Partners with the Homeless to teach residents of Amandla Crossing Transitional Housing, in Edison, N.J., basic financial skills they will need to transition to more permanent housing. The financial education course is paired with courses on other basic life skills, like literacy, clildcare development and nutrition.

SAN ANTONIO, Texas – River City FCU, which serves telecommunications workers in one of the fastest-growing markets in the country, said yesterday it received approval from NCUA to become a community credit union serving the more than two million people in Bexxar County. Executives with the $100 million said they plan to opne a series of branches through the city to serve the new field of membership, including one next year on the city’s north side. The credit union was chartered in 1936 as San Antonio Telephone Employees FCU and currently serves employees at AT&T.

PEWAUKEE, Wis. – Wisconsin credit unions were warning consumers yesterday to be ware 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, such as credit union payday loans, that carry much smaller rates and fees.