ALEXANDRIA, Va. (UPDATED: 5/24/13, 12 p.m. ET)--Control of the once-conserved Arrowhead Central CU has been returned to its members, the National Credit Union Administration reported today.

While a new Federal Reserve survey claims the interchange fee cap exemption is working for small issuers, details about credit unions' experience in this area are not fully reflected and CUNA is talking with the agency to find out more about the survey results, CUNA President/CEO Bill Cheney said Thursday.

Legislation that would tie student loan interest rates to 10-year U.S. Treasury notes, and allow those student loan rates to reset each year, was passed by the U.S. House on Thursday.

Key performance indicators such as return on assets, net promoter score and loan to assets, are used by credit unions because they are the easiest to measure, aggregate and compare, according to a new paper from the Filene Research Institute. However, they do not address credit unions' identity crisis--the need to form and describe a business model that is different from noncooperative financial institutions.

While a vault in the now-destroyed Moore, Okla., branch of Tinker FCU is getting credit for saving the lives of 22 people during Monday's tornado, the stories they brought out with them indicate heroic measures taken by credit union staff to keep the vault door closed and people inside safe.

The number of branches built by credit unions and banks are expected to decrease between 30% and 40% in the next decade, according to Celent, a Boston-based financial services research and consulting firm.

Connecticut Gov. Dannel P. Malloy has sent an official proclamation to the Credit Union League of Connecticut praising the value of its Financial Reality Fair program. The program is sponsored by Connecticut credit unions.

CUNA's Washington, D.C, and Madison, Wis., offices will be closed Monday in observance of the Memorial Day holiday. News Now will not post a Monday issue but will resume regular publication on Tuesday.

Fixed-mortgage rates in the U.S. are trending higher for a third consecutive week, putting pressure on refinance momentum, according to Freddie Mac's Primary Mortgage Market Survey released Thursday. That could help credit unions, which get a good amount of loans from mortgage refinancings.

On this week's Home & Family Finance Radio, discover what makes small-business owners tick, new innovations in travel and how to manage your health with your phone.