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Firming up conversion plans, the $4 billion Alaska USA Federal Credit Union said Monday it expects to complete the operational, marketing and tech makeover of the failed California-based High Desert FCU within the next 90 to 120 days.

Despite some criticisms of the SBA's new America Recovery Capital program, Dupaco Community Credit Union said it believes the loans will bring much-needed assistance to members.

A credit union member in Florida has filed a federal suit against the $750 million IBM Southeast Employees Credit Union, alleging that a former broker-dealer firm that sold her investments was "nothing more than a bucket shop rife with fraud."

Credit union managers from around the country gathered in Grand Rapids, Mich., recently for CU*Answers' annual leadership conference and golf outing.

The paucity of new credit union charters is a troubling phenomenon even though the new REALTORS FCU is a promising omen, the former president/CEO of the Colorado Credit Union League said this week.

The industry's drumbeat of new memberships and loan business stemming from banking's troubles and the flight to safety picked up new momentum last week with two state leagues, Washington and Mississippi, crowing about membership gains.