News

SAN FRANCISCO -- Credit union interest in purchasing the assets of the conserved $339 million Cal State 9 CU of Concord took some new turns last week with Citizens Equity First of Peoria, Ill., now in the fray and two California CUs dropped out of the bidding.

CONCORD, Calif. -- The bidding for troubled Cal State 9 Credit Union here closed on April 25 and has kept mum on the bidders (See sidebar).

WASHINGTON -- Former Chairman and CEO of Fannie Mae Franklin Raines, former Chief Financial Officer J. Timothy Howard and ex-Controller Leanne Spencer agreed to pay a $31 million settlement to end a case surrounding their roles in a 2004 accounting scandal.

MOON TOWNSHIP, Pa. -- Keystone Business Lending Solutions, a CUSO serving Pennsylvania credit unions, celebrated its one-year anniversary on April 1.

RALEIGH, N.C. -- To expand its outreach to government units across North Carolina, the $792 million Local Government Federal Credit Union has launched LGFCU Financial Partners LLC.

PHOENIX -- Arizona State Credit Union is taking a bite out of the economic stimulus checks headed consumers' way.