The SEC said California's IOUs are indeed securities and holders and buyers of the registered warrants are protected by the provisions of the federal securities laws that prohibit fraud in the purchase or sale of securities.

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.

So far, the national recession has failed to put a damper on credit union enthusiasm for young adult innovations based on educator presentations at this year's National Youth Involvement Board conference meeting next month, the NYIB said Thursday.

The CUNA Marketing and Business Development Council has published a white paper that examines how credit unions can grow organically rather than through mergers.