LAS VEGAS – Nevada’s credit unions continue to report big losses for the second quarter, as the state’s real estate crisis persists.
Nevada FCU, the state’s second-biggest credit union, reported a $14.6 million operating loss for the second quarter. Combined with a $5 million first quarter loss and a $972,218 NCUSIF stabilization charge, the $804 million credit union reported a $20.5 million mid-year loss.
Ensign FCU reported a $4.6 million second quarter loss and an $8.4 million loss for mid-year (not including any NCUSIF stabilization charge); Community FCU had a $2.5 million second quarter loss and a $3.1 million mid-year loss (including $1.2 million for NCUSIF) and Clearstar Financial FCU had a $1.2 million loss for the quarter and a $2.9 million loss for the first six months (including a $405,530 NCUSIF charge).
