The $251 million E Federal Credit Union, headquartered in Baton Rouge, awarded two eight year old boys with oversize checks for $1 million and allowed them to keep one day's deposit interest from that amount, or roughly $41.10.

Credit unions considering converting to federal mutual bank charters may soon lose the regulator which has heretofore welcomed them.

A research and development firm that aims at helping community financial institutions better compete with the largest banks argues community banks and credit unions waste energy competing against each other.

Western Corporate Federal Credit Union's audited 2008 financials revealed that the industry's largest corporate lost more than 50% of its assets, from $31.6 billion at year-end 2007 to just over $14 billion as of Dec. 31, 2008.