ALEXANDRIA, Va. - NCUA was named receiver of Valley Credit Union in San Jose, California and immediately and sold its assets to Citizens Equity First Credit Union of Peoria, Illinois.

DULUTH, Ga. - Cooperative Services Inc. has its first merchant capture user, the suburban Atlanta CUSO said.

COLUMBIA, S.C. - Feeling the brunt of 14% unemployment in economically-depressed South Carolina, credit unions starting this month will ease loan terms and implement large-scale financial education and counseling programs.

LENEXA, Kan. - U.S. Central Federal Credit Union announced late Wednesday it has completed the conversion of $450 million in Membership Capital Shares (MCS) to Paid-In Capital (PIC II) shares.