DALLAS - The Credit Union National Association and CUNA Service Group reported a combined $2.4 million loss for the first nine months of 1995, compared with a $700,000 profit a year earlier.
The setback, disclosed on Oct. 26 by CUNA treasurer Nancy Pierce at the association's annual meeting, attributed the loss to the cost of converting CUNA Service Group's Card Services processing software to the Triumph system.
CUNA had forecast a loss for the first nine months of the year, but ended up running $30,000 deeper in the red than predicted, said CUNA vice president of finance Jerry Rather.
Mr. Rather said the trade group and its subsidiary will suffer a net loss for the year, but declined to offer a figure.
The size of the hole depends on how much CUNA makes later this year from selling its stock in a mortgage subsidiary to CUNA Mutual Group, a separate company.
"There are still a lot of numbers floating around," Mr. Rather said.