Content classifications

DERBY LINE, Vt. – State regulators this afternoon shuttered tiny Border Lodge CU, a $3.4 million credit union located near the Canadian border that is the year’s 19th credit union failure.

ALEXANDRIA, Va. – Credit unions added 740,000 new members in the third quarter of the year, a new quarterly record that easily puts them on pace for their best year ever, NCUA reported this morning.

EL SEGUNDO, Calif. – Xceed Financial FCU announced this morning it is acquiring troubled Safeway Los Angeles FCU, a one-time $77 million credit union that has reported losses for five straight years.

BIRMINGHAM, Ala. – In another of what is expected to be record payouts for credit unions this year, ACIPCO FCU announced a $1.7 million interest rebate/dividend this morning, equating to 35%, to be paid December 15, in time for Christmas spending.

AUSTIN, Texas – EECU, the giant Fort Worth credit union, has applied to state regulators to acquire Fort Worth Telco CU, one of four troubled Texas credit unions that would be merged out.

OGDEN, Utah – Goldenwest CU is one of the first credit unions to announce a holiday bonus this year, with members due a bonus dividend of 4.35% APY.

Thanks to issues near (America’s “fiscal cliff”) and far (Europe’s debt bubble), the economy will go through three to five more years of “modest ups and downs.”

WASHINGTON – NAFCU succeeded this afternoon in defeating an emerging bill that threatened the credit union tax exemption, even before the bill got going.

YORK, Neb. -- First York Bancorp has agreed to acquire tiny Glenvil Cooperative CU, in a rare acquisition of a credit union by a bank.

SAN ANTONIO – Harland Clarke Holdings, the nation’s biggest check printers, reported a third losses of $19 million, compared to a profit of $46.6 million for the third quarter last year, because of costs associated with the this year’s going-private merger.

SACRAMENTO, Calif. – Two additional troubled credit unions have agreed to separate mergers, as the clean-up of the state’s credit union market continues.

MINNEAPOLIS – FICO, the maker of the ubiquitous credit score, reported a 14% decline in fourth quarter earnings to $21.2 million, even while revenues rose 16% during the period to $186.1 million.

BOSTON – First Marblehead Corp., a provider of a private label student loan platform which acquired credit union student lender Cology last month, reported a loss of $13.9 million for its fiscal first quarter.

ATLANTA – Increased debt service coupled with lower revenues pushed third quarter losses at processing giant First Data Corp. to $212 million, up from $53.9 million for the third quarter last year, the company reported this morning.

HOUSTON – Cardtronics, the world’s largest ATM network, reported a 72% decline in third quarter earnings to $12.9 million, due to the absence of $37 million tax gain in the third quarter last year.

CINCINNATI – In another sign of booming business for credit unions and banks, Vantiv, the cards processor for more than 800 credit unions, reported yesterday that third quarter earnings soared by 70%, to $48.6 million.

ALEXANDRIA, Va. – NCUA announced this afternoon it liquidated tiny Women’s Southwest FCU of Dallas and assigned the remnants of the $2 million institution, the year’s 18th credit union failure, to City CU of Dallas.

SAN JOSE, Calif. – National 1st CU said today it has agreed to acquire San Jose CU, creating a credit union with $340 million in assets.

PURCHASE, N.Y. – Fast-paced growth in debt continued to fuel MasterCard in the third quarter, with the cards network announcing this morning an 8% increase in net income for the period.

ALEXANDRIA, Va. – Lower cost of funds and growing loan income helped propel the nation’s biggest credit unions to huge third quarter gains, but the biggest stimulus may have been provided by NCUA in the lowest assessments in four years.