Alexandria, Va., January 28, 2009 – The National Credit Union Administration Board today approved a series of actions designed to enhance and support a corporate credit union system facing unprecedented strains on liquidity and capital due to extraordinary market disruptions and the current economic climate. Corporate credit unions provide investment and liquidity services to consumer-owned natural person credit unions. 

This week will be a short one for Congress, but it’s packed with credit union interest–including votes on an economic stimulus bill and bankruptcy legislation.

In a continuing effort to keep the spotlight on credit union concerns regarding mortgage bankruptcy legislation, the Credit Union National Association (CUNA) is seeking grassroots action to block current “cramdown” bills.

A weakening labor market will hurt U.S. home sales, a CUNA economist told Reuters Monday.

Over the past decade on average, credit unions have charged about 1% less on loans than have banks and paid out on average 1% more in interest on certificates, Dan Mica, CUNA president/CEO, said in a three-page advertorial published Monday in The New York Times.

In the wake of the Heartland Payment Systems data breach, Washington state’s credit unions once again have introduced legislation to encourage financial institutions to take “extraordinary proactive steps”–such as suing data breachers–to protect consumers from identity theft and financial fraud after a breach.

Members of the Maryland Governor’s Task Force on Financial Literacy today will petition the Maryland State Board of Education to require all public schools in the state to include financial literacy education in their K-12 curriculum.

Four New York City credit unions are participating in Affordable Loans for Immigrants, which offers business loans to immigrants who live or work in the city, while big banks are cutting loans to “mom and pop” businesses because of the financial crisis.