Witnessing the credit union experience with Homes for Our Troops, a handful of banks led by Bank of America, are now playing catch-up.

Pennsylvania credit unions coming to the rescue of state employees whose pay is caught up in the state budget crisis began disbursing millions in loans today.

The $4 billion Alaska USA Federal Credit Union said last week it expects to complete the purchase and assumption of $110 million High Desert FCU within the next 90 to 120 days.

One of the five top officers of the $545 million Memphis Area Teachers Credit Union, fired last month in a management shakeup, has filed a whistleblower defamation suit.

Hope Community Completes American Savings Merger Nearly a year in process, the $117 million Hope Community Credit Union, a Jackson, Miss. community development CU, has completed a merger with Memphis-based American Savings Credit Union.

Thanks to a combination of a poor economy, the corporate expense and management succession, mergers among small Kansas credit unions appear to be spiking.

Three more mid-size mergers of credit unions in Ohio, California and Washington State were in progress this week as the economic slump continued to take its toll.

On the heels of a sweeping management shakeup, Memphis Area Teachers Credit Union confirmed Friday it is conducting a search for a new CEO as it puts behind "paper" investment losses from last year and finds itself on a profitable path in 2009.