* WASHINGTON (12/29/08)--The Treasury Department announced last week that it had closed $2.8 billion with 49 banks Dec. 19 and $1.9 billion with 43 banks Wednesday through its Capital Purchase Program. The program is a part of the Troubled Asset Relief Program (TARP), which was created to strengthen the financial system. The department allocated $250 billion under TARP’s Capital Purchase Program to invest in financial institutions. The department has made $162 billion in investments so far ... * WASHINGTON (12/29/08)—Dr. Jill Biden, wife of Vice
President-elect Joe Biden, visited her credit union, New Castle (Pa.) County School Employees FCU, two weeks ago, said the Delaware Credit Union League in its newsletter (Together
Dec. 19). The credit union told the league that Dr. Biden was accompanied by the Secret Service. Pictured from left are: Dot Kenney, Shannan McMann, Alex Johnson, Lori Mays, Terri Keene, Dr. Biden, Jean Moore, Stephanie Mitchell, Sandra Toppin and Colin MacArthur. (Photo provided by the Delaware Credit Union League) ... * WASHINGTON (12/29/08)--Senior management staff of the Illinois
Credit Union League (ICUL) met Dec. 19 with Sarah Vega, chief of staff and senior advisor in the office of National Credit Union Administration Chairman Michael Fryzel. The group used the meeting to discuss operational, regulatory and compliance issues critical to Illinois credit unions in light of the current economic conditions. ICUL staff also provided Vega with a league update on its key programs and initiatives, including the status of its 2008 state legislative agenda. From left are Keith Sias, ICUL director of state legislative affairs; Vega; Patrick Smith, ICUL director of strategic services; and Steve Olson, ICUL executive vice president, general counsel, and chief operating officer. (Photo provided by the Illinois Credit Union League) ...