On a 15-0 vote of the Virginia Senate Commerce and Labor Committee, the now recast bankers' bill enabling state chartered credit unions to convert to mutual status cleared another hurdle this week as it appears headed for passage.

Wanting no part of future NCUA assessments, the president/CEO of the $300 million SafeAmerica CU of Pleasanton, Calif. has opted for private insurance.

Iowa's second largest credit union, the $914 University of Iowa Community CU, is moving ahead this month to merge with the $46 million Best of Iowa Community CU as the Iowa City-based CU seeks a larger footprint in the Cedar Rapids market.

In a NCUA supervisory merger, the $4.8 billion America First Federal Credit Union has taken over the $50 million Mountain High FCU of Provo, Utah.

The NCUA corporate assessment coupled with depressed net worth will lower CUs' appetite for mergers in 2010, according to a New York CPA firm which issued a study this week on the banking industry's interest in failing banks.

With an eye on Walmart's expansion into financial services, the Credit Union League of Connecticut alerted its members Friday to the start of check-cashing services in all 33 of the retailer's Connecticut stores.

In a victory for the Virginia Credit Union League, a House panel voted 20-0 Thursday to pare down a banker-backed bill allowing banks to buy credit unions into a measure enabling state CUs to convert to mutual charter.

In separate parts of the country, brigades of credit union volunteers are joining the Homes for Our Troops cause in bigger numbers this month spearheading a registration drive to sign up carpenters, contractors and roofers in Columbia, Mo.