Credit Union Journal articles from February 2009

Credit Union Journal archives from February 2009

NCUA Plans $1B Bailout Of U.S. Central.
February 2, 2009... Byline: Ed Roberts, Washington Bureau Chief ALEXANDRIA, Va.-NCUA was forced last week to infuse $1 billion into U.S. Central FCU after the central bank for credit unions reported a staggering $1.2-billion loss for its fourth quarter and...

WORTH NOTING.(News)
February 2, 2009... Dames Comes Out Of Retirement For SWBC SAN ANTONIO-Gordon Dames, who just retired as president of Mountain America Credit Union in Utah, has been named senior VP-national account development by SWBC. The company said Dames will be...

Ideas You Can Steal! Umm, Borrow, Repurpose, Etc.(News)
February 2, 2009... Byline: Michael Bartlett, Reporter HOLLYWOOD, Calif.-What is one of the best ways for a credit union to create a successful marketing campaign? Simply take one that already worked for another CU! That is the...

Loan-To-Share Ratio, Frugality Propel Cottonwood Community To Top Spot.(News)
February 2, 2009... Byline: Matt Blumenfeld, Reporter COTTONWOOD, Idaho-A strong loan-to-deposit ratio, a frugal approach to expenditures and a close connection with the community's needs has propelled Cottonwood Community Federal Credit Union to the top of...

NOW IN THE MARKET.(News)
February 2, 2009... CO-OP-FS Offers New Service RANCHO CUCAMONGA, Calif.-CO-OP Financial Services has introduced a service intended to free CU staff from daily ATM terminal maintenance chores. A 2007 joint venture between CO-OP and CU Anytime, a New...

CUNA Mutual May Appeal MFCU Verdict.(News)
February 2, 2009... DETROIT-A federal jury awarded Michigan First CU $5 million in damages against CUNA Mutual's CUMIS Insurance Society, finding the CU insurer violated its insurance bond when it refused to pay damages resulting from hundreds of defaulted...

NCUA Board Pick: Back To The Future?(News)
February 2, 2009... Byline: Ed Roberts WASHINGTON-Several candidates are testing the waters for the pending opening on the NCUA Board, with two former board members among the group. They are David Chatfield, the former president of the California CU...

It's Not Anarchy In The Lobbies Yet-And It Doesn't Have To Be.(Views & Opinion)
February 2, 2009... Byline: Frank J. Diekmann Watch the evening news (if you can bear it) and it would seem your credit union's lobbies and branches should be anarchy right now. Members borrowing your scissors to cut up plastic cards. Members handing over...

Be Among The First 85!(Views & Opinion)
February 2, 2009... Byline: Frank J. Diekmann SAN DIEGO-Be among the first 85 people to register for Credit Union Journal's Grow Show, and you'll have the opportunity to hear some Blue Ocean strategies - literally. Ensuring outside perspectives on leadership...

CALENDAR.(Views & Opinion)(Calendar)
February 2, 2009... FEBRUARY Feb. 9-11 CUES Basics of Business Lending Seminar, Hilton Palacio del Rio, San Antonio, Texas. Hotel: www1.hilton.com. For info: www.cues.org or 800-252-2664. Feb. 14-18 Education Credit Union Council Annual Meeting,...

The Power of Trust, the Power of Attorney.(News: 100 Years 100 Voices)
February 2, 2009... Byline: Rosie Holub The one personal anecdote from my credit union career that reflects the essence of credit unions was when I was Senior VP at Kirtland FCU in Albuquerque, N.M. Among other credit union responsibilities, at that time I...

'Cramdown' Advances In Congress.
February 2, 2009... Byline: Ed Roberts, Washington Bureau Chief WASHINGTON-The House Judiciary Committee fended off objections from credit unions and other lenders and voted last week to endorse a bill that will allow troubled homeowners to ask a bankruptcy...

Former Chair Also Marks 100th B-Day.(News: 100 Years 100 Voices)
February 2, 2009... Byline: Muna Whitlock We recently interviewed Mr. Arthur Amundson, one of our past board members who served on the board and as chairman from 1952 to 1983. Mr. Amundson recently celebrated his 100th birthday, meaning he was born the same...

9 For 2009: Methods To Boost Members' Confidence.(Views & Opinion)
February 2, 2009... Byline: Andrea Obston I recently checked out the home pages of a number of credit unions and local banks and was amazed to find no obvious mention of the current financial crisis. Here's my question: If you're in the financial services...

To Get Real Results From Research, Don't Ask Questions - Seek Answers.(Views & Opinion)(Viewpoint essay)
February 2, 2009... Byline: Neil Goldman Stephen Covey's advice, "Begin with the end in mind," provides a good starting point for effective research, and especially the best research methodology to use. In these challenging times, it's important to focus your...

Growing CU Losses A Capital Dilemma For Whole Industry.(Washington Watch)
February 2, 2009... Byline: Analysis by Ed Roberts WASHINGTON-The large-scale losses among many of the nation's biggest credit unions are prompting some in the credit union movement to renew calls for access to outside sources of capital. "It's time for...

Fryzel To New Treasurer: Let CUs Seek Refuge Under TARP.(Washington Watch)
February 2, 2009... Byline: Analysis by Ed Roberts WASHINGTON-While CUs continue to debate access to secondary capital (see related story above), NCUA Chairman Michael Fryzel called on new Treasury Secretary Timothy Geithner last week to reconsider coverage...

PEOPLE.(Washington Watch)
February 2, 2009... Summit Credit Union, Madison, Wis., named Erin Ennis mortgage loan officer and Peter Bildsten vice president of retail branches. Insight Financial CU, Orlando, Fla., named Heather Bumgardner marketing executive, Carlos Herrera public...

AGENDA.(Washington Watch)
February 2, 2009... Events CUNA Governmental Affairs Conference, Feb. 22-26. Meetings NCUA Board Meeting, Feb. 26. Comment Treasury/Financial Crimes Enforcement Network: comments are due on a proposed rule on the Transfer and Reorganization...

Former CU Manager Exonerated.(News From cujournal.com)
February 2, 2009... DECATUR-A federal judge has dismissed bank fraud and conspiracy charges against a former businessman and a former president of Lauderdale County Teachers CU of defrauding the credit union of more than $6 million. Prosecutors said during...

CU To Pay Out $250K To Members.(News From cujournal.com)
February 2, 2009... BROOMFIELD, Colo.-Community Financial CU introduced a "member bonus program" that will pay members a total of $250,000 later this month. Members will receive checks from $5 to $1,100 based on interest and dividends earned on their accounts, as...

CU Eyes Taco Bell For New Home.(News From cujournal.com)
February 2, 2009... TROY, Ohio-HTM Area CU said it has acquired a vacant Taco Bell fast-foot restaurant where it plans to build a new headquarters and branch. The old building will be turned into a full service bank with a drive through, ATM and night...

Coastal Plans To Open 5 Branches Even As It Closes 4.
February 2, 2009... Byline: Matt Blumenfeld, Reporter RALEIGH, N.C.-Coastal FCU is on both ends of the budget spectrum for its branches as it plans to close down four underperforming branches in Q1 while installing new teller systems in its other branches. ...

Mother And Son Jailed For Heist.(News From cujournal.com)
February 2, 2009... GULFPORT, Miss.-A 27-year-old man was sentenced to 15 years in prison for the March 2007 robbery at Keesler FCU in Biloxi, he committed with the help of his mother. William Bell, who had six prior felony convictions, was sentenced as a...

Cutting Your Losses: Analysis Needed Before Shutting Branches.(Special Report: Facilities)
February 2, 2009... Byline: Matt Blumenfeld, Reporter CINCINATTI-Credit unions in multiple sections across the country are cutting expenses by shutting down branches and reducing positions, but these cuts may end up costing the credit union even more than they...

Caution: 1 Cost-Cutting Measure Could Have Hidden Expense.(Special Report: Facilities)
February 2, 2009... Byline: Matt Blumenfeld, Reporter ST. LOUIS-Credit unions should avoid closing branches and find other ways to rein in their costs because they could end up paying for the negative message branch closures send members, say several industry...

Branching Out.(Special Report: Facilities)
February 2, 2009... SAFCU Opens Branch In Schertz The grand opening of San Antonio FCU's new branch in Schertz, Texas, included entertainment by a trick roper. KDA Begins Constuction Of ABNB Atlanta, Ga.-KDA Holdings Inc. has begun construction for a...

Why Now Might Be The Best Time To Expand Your Branch Network.(Special Report: Facilities)
February 2, 2009... Byline: Matt Blumenfeld, Reporter ST. LOUIS-Credit unions looking to take advantage of the relative weakness of the big banks by expanding their geographical footprint need to take a deep breath before making commitments, according to...

Coastal Unveils Express Teller System.(Special Report: Facilities)
February 2, 2009... RALEIGH, N.C.-Coastal FCU is rolling out its new Express Teller system at two of its branches in the Triangle region. The St. Albans Drive and Wakefield Commons locations will be able to use the new interface that gives tellers the ability to...

Pre-Fab Shells Can Help CUs Save Money On New Branch Locations.(Special Report: Facilities)
February 2, 2009... Byline: Ray Birch, Correspondent RACINE, Wis.-When constructing a new branch in markets where winter is a factor, credit unions can save more than 10% on the project by opting for a prefabricated building shell. Educators Credit Union...

Modular Construction Could Be Answer To More Affordable Branch Expansion.(Special Report: Facilities)
February 2, 2009... Byline: Ray Birch, Correspondent CLEARWATER, Fla.-The desire to expand branch networks in the shadow of a recession may only accelerate the trend toward modular construction of CU branches. While credit unions may have preferred...

CU Sites Branch In High-Growth Development.(Special Report: Facilities)
February 2, 2009... AUSTIN, Texas-A+ FCU is planning to site a new branch location that will serve Kyle and North Hays County. The new branch will be located in Kyle's Plum Creek Uptown District, which is part of a 2,200-acre mixed-use, master-planned community...

Building May Be 'Net Zero Energy' But CU Plans For It To Net New Image, Growth.(Special Report: Facilities)
February 2, 2009... Byline: Matt Blumenfeld, Reporter LAKELAND, Fla.-The construction of the state's first "net zero energy building" is more than just an environmental accomplishment - it's also the rallying point for a total re-branding effort on the part...

CUs Scramble To Rescue As Massive Layoffs Announced.(Company overview)
February 2, 2009... Byline: Matt Blumenfeld, Reporter PEORIA, Ill.-More than 60,000 Americans were handed pink slips last Monday alone, and as layoffs pile up, credit unions are racing to their members' sides to ease the pain as much as possible. ...

How 1 CU Is Saving Green, Attracting More Green By Building Green Site.(Special Report: Facilities)
February 2, 2009... Byline: Ray Birch, Correspondent RACINE, Wis.-Educator Credit Union's new branch here is literally going green. The three-story building has a "green rooftop" and a "green vine plant structure" that covers portions of the building's...

How 1 CU Put Employee Morale To Work.(News: CUJ Toolbox: HR)
February 2, 2009... Byline: Michael Bartlett, Reporter PHOENIX-Happy employees equals happy members. Many CUs say it, but not many take steps to measure how happy their staff is, much less take steps to improve the in-house level of satisfaction. One...

CUJ Toolbox: 3 Voices On Building Business.(Strategies for 2009)(Credit Union Journal)(Brief article)
February 2, 2009... WEST PALM BEACH-Between massive layoffs (see related story, page 1), increasing losses among credit unions and no end in sight to the financial turmoil, CUs are looking for more than just good news-they need tools to help them survive - and...

Loving Life And Capital; One CU's Approach To 'New Reality'.(Strategies for 2009)
February 2, 2009... Byline: Michael Bartlett BUENA PARK, Calif.-Adam Denbo, CEO of Agribusiness CU, is taking a decidedly sunny approach. "It is great to be a credit union now-we don't have the problems banks do," he declared. "We are loving life and have...

Plugging Holes; Changes In Strategy.(Strategies for 2009)
February 2, 2009... Byline: Michael Bartlett GLENDALE, Calif.-Job 1: plugging the holes. After that, it's time to take a closer look at the entire business model, according to Ron McDaniel, CEO of California Credit Union. "These are challenging times for...

Not A Magic Act; The 'New Book' Going Forward.(Strategies for 2009)
February 2, 2009... Byline: Michael Bartlett WALNUT CREEK, Calif.-The bad news: problems with the economy won't just disappear. The good news: credit unions still have a few tricks up their sleeves, according to Steve Punch, CEO of Pacific Services Credit...

MidFlorida FCU Acquires 2 Real Estate Companies.(News)
February 2, 2009... LAKELAND, Fla.-MidFlorida FCU said its real estate CUSO, MidFlorida Real Estate Sales LLC, has acquired two independent real estate companies, expanding its reach in the local market. The two acquisitions are: Mary M. Myers Realty Inc. of...

Boeing Wichita CU Changes Its Name To Meritrust CU.(News)
February 2, 2009... WICHITA, Kan.-Boeing Wichita CU, the state's largest CU, has changed its name to Meritrust CU. The $600-million credit union has undergone a number of name changes throughout its history, which dates to 1936 when it was chartered as...

MCCU Chooses Students For Savings Contest.(News)
February 2, 2009... BATTLE CREEK, Mich.-Marshall Community CU selected eight high school students to compete in its "Financially Made" program, which will reward each with $150 in matching deposits. Students between 13 and 17 will meet with a budget counselor...

Man Gets Hit Trying To Rob Armored Car.(News)
February 2, 2009... PHOENIX-An assailant fired a shot at a cash carrier car outside Desert Schools FCU but was hit by the armored car and fled instead. The suspect fired one shot during the robbery attempt, but no one was hit and the bullet struck an...

How To Score New Members.
February 2, 2009... Byline: Joyce Moed, Reporter CHARLOTTE, N.C.-Charlotte Metro CU here hoped to score new members with the help of the ad it ran during this year's Super Bowl on Feb. 1. The 30-second commercial, titled "Fee Pig," references the lower...

Alleged Swindler Remains Jailed In $27M Scheme.(News)
February 2, 2009... GRAND RAPIDS, Mich.-Federal prosecutors said CUs and banks have recovered more than $16 million from the alleged fraud to buy phantom yachts but are still seeking to locate as much as $9 million more. A federal judge ordered the suspect in...

New CDCU For Latinos Planned In Toledo, Ohio.(News)
February 2, 2009... TOLEDO, Ohio-The National CU Foundation has awarded a $69,500 Innovation Grant to the Ohio CU foundation to help develop a credit union for Latinos in northwest Ohio, which would be the first new state charter in decades. Organizers of...

A Super Wager On Big Game Is In Keeping With People-Helping-People Philosophy.(News)(Brief article)
February 2, 2009... SEWICKLEY, Penn.-Last weekend's Super Bowl included a wager with a CU twist. PA HealthCare Credit Union, fans of the Pittsburgh Steelers, and Southwest Health Care CU, fans of the Phoenix Cardinals, made something of a People Helping...

ON DEADLINE.
February 2, 2009... NCUSIF Is Projecting A $113.4M Loss In December ALEXANDRIA, Va.-NCUA has projected a December loss for the National Credit Union Share Insurance Fund (NCUSIF) of $113.4 million, according to its year-end report, and a $290-million loss for...

WOCCU Pilot Offers To Match 1st-Time Savers' Funds.(News)
February 2, 2009... Byline: Frank J. Diekmann, Editor MADISON, Wis.-The World Council of Credit Unions is piloting a project to match the savings accumulated by low-income residents of villages in rural Mexico, which will also allow citizens in developed...

Wescom Cuts 175 Jobs, 2 Branches.(News)
February 2, 2009... Byline: Michael Bartlett, Reporter PASADENA, Calif.-With 2009 projected to result in another net operating loss, Wescom Credit Union is cutting 175 positions and consolidating two branches. Darren Williams, president and CEO of the...

What Would Your Administration Do?(News)
February 2, 2009... WASHINGTON-There's a new administration and Congress in place in Washington, and they're facing plenty of problems. If you were the new president or a Member of Congress, what would be some of your proposals and solutions? Credit Union...

Congress Moves To Ease Payments On $5-Billion Corporate Rescue.(Strong Reaction To NCUA Bailout Plan For Corporates)
February 9, 2009... Byline: Ed Roberts, Washington Bureau Chief WASHINGTON-Just days after NCUA approved a rescue of the corporate credit union network, Congress began to plot efforts last week to ease the crushing $5-billion cost on credit unions. A key...

Fannie Mae Plan Would Boost Ability To Refinance Loans.(Federal National Mortgage Association)(Brief article)
February 9, 2009... Byline: Kate Berry, American Banker WASHINGTON-Fannie Mae was planning last week to introduce refinancing options designed to help homeowners who have been unable to take advantage of recent low rates, a person with knowledge of the...

WORTH NOTING.
February 9, 2009... Banks Get $1.15B More In Infusions WASHINGON-Treasury last week said it had made an additional $1.15 billion of infusions into 42 banks through its Capital Purchase Program. The agency has so far made $195.33 billion in capital injections...

'Overstaffing' Just The First Problem In Lagging Loan Yields.(News)
February 9, 2009... Byline: Ray Birch, Correspondent EULESS, Tex.-When it comes to managing expenses, credit unions need to answer one important question: "Are you overstaffed or grossly overstaffed?" Brett Christensen will ask that question at the...

In The Know To Grow.(News)
February 9, 2009... What: Credit Union Journal's Grow Show. When: April 27-29 Where: Hotel del Coronado, San Diego Who: For CU professionals desiring to grow their operations Why: Because if you don't grow, well... For More Info: Go to...

Education FOM Offers A Lesson In How To Be Served By CU.(News)
February 9, 2009... Byline: Matt Blumenfeld, Reporter HURON, S.D.-A focus on watching expenses and the resulting ability to offer above-market deposit rates has been the key to Huron Area Education FCU's success as a leader among its peer group. The...

NJ League Unveils New Logo.(News)
February 9, 2009... HIGHTSTOWN, N.J.-The New Jersey Credit Union League has redesigned its logo with a goal of displaying the cooperative nature of credit unions. The logo was designed by Greylock Marketing Group (a CUSO of Greylock FCU). "Our goal was to design a...

iBelong Adds Two New Spots.(News)
February 9, 2009... HARRISBURG, Penn.-The Pennsylvania CU Association has added two new spots to its iBelong credit union awareness campaign. The ads are also available in Illinois and Mississippi, where the respective leagues have licensed the campaign. The new...

New Logo Follows Merger.(News)
February 9, 2009... MADISON, Wis.-Summit Credit Union unveiled a brand-new corporate logo following its merger with Great Wisconsin CU. Though the Summit name was retained, it decided a new post-merger logo was needed.

Nebraska Merger.(News)
February 9, 2009... LINCOLN, Neb.- Alliant CU has absorbed Southeast Nebraska FCU in Beatrice, Neb., via merger. The combined institution will have 5,061 members and $66 million in assets.

A Once-A-Century Event May Deserve Once-A-Century PR Effort.(Views & Opinion)
February 9, 2009... Byline: Frank J. Diekmann Every time there is a catastrophic storm or event, it is invariably labled a "once-a-century" occurrence. That such events seem to occur every few years never seems to throw any water on application of the...

EasCorp Calls On U.S. Central To Make Management Changes.(Strong Reaction To NCUA Bailout Plan For Corporates)
February 9, 2009... Byline: Frank J. Diekmann, Editor BURLINGTON, Mass. Eastern Corporate FCU (EasCorp) sent a letter to the board of U.S. Central last week saying the corporate's corporate has "failed the crdit union industry" and calling for "immediate...

Be Among The First 85!(Views & Opinion)
February 9, 2009... SAN DIEGO-Be among the first 85 people to register for Credit Union Journal's Grow Show, and you'll have the opportunity to hear some Blue Ocean strategies - literally. Ensuring outside perspectives on leadership and innovation are a hallmark...

CALENDAR.(Views & Opinion)(Calendar)
February 9, 2009... FEBRUARY Feb. 14-18 Education Credit Union Council Annual Meeting, Sheraton San Diego Hotel & Marina. Hotel: www.sheraton.com/sandiego. For info: www.ecuc.org. Feb. 20-22 MACU Association Group Annual Meeting, Soaring Eagle...

Small Acts Lead To Big Results.(Views & Opinion: 100 Years 100 Voices)(Column)
February 9, 2009... Byline: David Clendaniel Several years ago a member stopped me in the lobby of the our Dover Air Force Base Branch to thank me. I must have had a puzzled look on my face, because he asked if I remembered him, and I did not. He told me that...

The 'Biloxi Boys' & The 19th Hole.(Views & Opinion: 100 Years 100 Voices)
February 9, 2009... Byline: Jack Teausant In the fall of 1984, 16 acquaintances from Illinois decided they deserved a break from their hard work with a golf trip to Biloxi, Miss. The group departed on their excursion on March 8, 1985 in two motor homes. The...

Card Fraud Is A Given - Make Sure Top-Notch Response Is, Too.(Views & Opinion: 100 Years 100 Voices)
February 9, 2009... Byline: Ted Keith The reality is that fraud happens. On average, credit card issuers experience approximately six basis points of loss every year ($600 per $1 million in charge volume), which is low compared to the 18 basis-point peak in...

100th Anniversary Issue A Keeper.(Views & Opinion)
February 9, 2009... Byline: Deb McLean I just got Credit Union Journal's tribute issue to the 100th anniversary of credit unions (Jan. 12), and I loved Frank Diekmann's views and opinion column - not not quite as stirring as Obama's speech - but hey it came...

'08 Year To Forget; '09 Has Hope.(Views & Opinion)
February 9, 2009... Byline: Kelly V. Schermerhorn I enjoyed reading Frank Diekmann's column in the Jan. 12 issue; the prose is almost poetic. 2008 was a year to forget-except for the lessons learned. 2009 doesn't yet offer much promise of being even as...

NCUSIF Rescue Is 'Unconcsionable'.(Views & Opinion)
February 9, 2009... Byline: Peter Sainato This "bailout" of the corporate system seems unconscionable and appears to weaken the entire credit union system at a time when the industry cannot absorb the hit. The corporates may survive, but how will credit...

'CU On Steroids' Already Exists.(Views & Opinion)
February 9, 2009... Byline: Alan Theriault Regarding GTE FCU CEO Bucky Sebastian's proposals for expanded powers for credit unions, which he called a "credit union on steroids" (cujournal.com, Jan. 27): this is a mutual savings bank. The law already permits...

A Simple Solution For NCUA.(Views & Opinion)
February 9, 2009... Byline: Bruce A. Rodela Here's a simple solution: NCUA should set aside the "defined reserve standard" of PCA in recognizing the economy we are all working within. NCUA should also recognize that any capital held by a credit union is...

NCUA's $5-Billion Corporate Rescue Weighs Heavily On Credit Unions.
February 9, 2009... Byline: Ed Roberts, Washington Bureau Chief WASHINGTON-Opposition among credit unions was spreading last week to NCUA's plans to finance a rescue of the corporate credit union network with a $5-billion premium assessed all federally insured...

Reports Should Stress It's CU Funds.(Views & Opinion)
February 9, 2009... Byline: Ricky Browing While the NCUA is definitely a "government agency," I believe it would be in the best interest of the credit union movement that Credit Union Journal refrain from using the words "government rescue" and "bailout" in...

Research: Think You Know No. 1 Way Folks Get Information About Your Credit Union?(Views & Opinion)
February 9, 2009... Byline: Mike Anstead What is consumers' No. 1 source of information about where to bank? It's not marketing, advertising or brochures: it's word of mouth. As a result, member referrals are strong indicators of your CU's likely growth...

MCUA Pays Out $500K To Affiliated Credit Unions.(News)
February 9, 2009... ST. LOUIS, Mo.-The Missouri CU Association will distribute $500,000 to affiliated CUs "to help member credit unions address issues surrounding the volatile economy and stimulate growth." The funds will be distributed to credit unions on a...

Filene Develops Virtual Finance 3D Project.(News)
February 9, 2009... MADISON, Wis.-The Filene Research Institute, in conjunction with Ohio University and a handful of credit unions, is poised to launch a new way of teaching young people real financial skills such as evaluating a car loan, paying rent on a...

Troubled CUs Waiting For Latest Word From Treasury.(Washington Watch)
February 9, 2009... Byline: Analysis by Ed Roberts WASHINGTON-The credit union lobby was still waiting last week for word from the Treasury Department on whether it would help out in the rescue of corporate credit unions. Both CUNA and NAFCU were hoping...

From Troubled Institutions To Troubled Homeowners.(Washington Watch)
February 9, 2009... Byline: Analysis by Ed Roberts WASHINGTON-With more than $700 billion in bailout funds approved by Congress dedicated to saving troubled banks, lawmakers are shifting their attention to troubled homeowners in hopes of stemming an expected...

Ex-Worker Plotted to Destroy Fannie Mae Data.(Washington Watch)(Federal National Mortgage Association)(Brief article)
February 9, 2009... Byline: Analysis by Ed Roberts WASHINGTON-A fired Fannie Mae contract worker pleaded not guilty to charges he planted a virus designed to destroy all the data on the secondary mortgage market giant's 4,000 computer servers nationwide. ...

AGENDA.(Washington Watch)
February 9, 2009... Events CUNA Governmental Affairs Conference, Feb. 22-26. Meetings NCUA Board Meeting, Feb. 26. Comment Treasury/Financial Crimes Enforcement Network: comments are due on a proposed rule on the Transfer and Reorganization...

PEOPLE.(Washington Watch)
February 9, 2009... Summit CU, Madison, Wis., named Rhonda L. Clayton mortgage loan officer. Teachers FCU, Farmingville, N.Y., promoted Stephen Machlica to assistant vice president-marketing. SELCO Insurance Services, Eugene, Ore., named Brett Callister...