World Council of Credit Unions' 2008 Statistical Report reveals modest growth in both the number of credit unions and members served, with 53,689 credit unions reporting nearly 186 million members.

Nearly half of U.S. Central Federal Credit Union's $2.2 billion base-case loss estimates can be attributed to subprime mortgage-backed securities,

Market analyst Barry Ritholtz told Credit Union Times he thinks the California Public Employees' Retirement System lawsuits against ratings agencies Moody's and Standard & Poor's have the potential to "go the distance."

Three sources close to corporate credit unions say the delay in releasing U.S. Central Federal Credit Union's audited 2008 annual report has nothing to do with the Kansas City corporate or the NCUA.

Southeast Corporate Federal Credit Union told members earlier this week it will not seek additional capital in the form of a paid-in capital issuance as other corporates have done or are planning to do.

According to Clayton's first quarter U.S. Central investment report, losses from mortgage backed securities aren't expected to peak until early 2011, when principal and interest distribution also peaks.

The Burbank, Calif-based Technicolor Federal Credit Union abruptly closed June 30 due to an internal investigation into employee misconduct. When it reopened the next day, it was partially staffed by employees on loan from other credit unions.

The $10 billion Southwest Corporate Federal Credit Union and the $4 billion Corporate One Federal Credit Union recorded U.S. Central capital losses and their own securities losses in newly released May financial reports.