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WASHINGTON – NAFCU succeeded this afternoon in defeating an emerging bill that threatened the credit union tax exemption, even before the bill got going.
November 14 -
YORK, Neb. -- First York Bancorp has agreed to acquire tiny Glenvil Cooperative CU, in a rare acquisition of a credit union by a bank.
November 13 -
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.
November 12 -
SACRAMENTO, Calif. – Two additional troubled credit unions have agreed to separate mergers, as the clean-up of the state’s credit union market continues.
November 11 -
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.
November 4 -
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.
November 4 -
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.
November 2 -
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.
November 1 -
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.
November 1 -
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.
October 31 -
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.
October 31 -
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.
October 31 -
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.
October 28 -
ATLANTA – Credit bureau Equifax said yesterday that third quarters grew 17% to $77.9 million, fueled by stronger revenue in its consumer-information business.
October 25 -
LAS VEGAS – Silver State Schools CU, the one-time billion-dollar credit union that is fighting through the state’s recession, said yesterday it had a $642,000 net for the third quarter, trimming its year-to-date losses to $1.6 million.
October 25 -
DEARBORN, Mich. – DFCU Financial, Michigan’s largest credit union, said this morning it plans to pay members a $21 million special patronage dividend, the biggest credit union payout ever.
October 23 -
DULUTH, Ga. – ATM maker NCR Corp. said that its third-quarter net income more than tripled to $58 million, as it benefited from acquisitions and strength across most of its businesses.
October 22 -
NEWARK, Del. – Student loan giant Sallie Mae reported a third quarter net of $188 million, compared to a loss for the same quarter last year, as it reduced operating expenses and set aside less money to cover bad loans.
October 22 -
ARLINGTON, Va.—The nation's three largest credit unions are among the top 100 cooperatives on National Cooperative Bank's annual Top 100 Co-op rankings.
October 22 -
LOS ANGELES—U.S. credit unions will continue to grow at a 3.1% average rate over each of the next five years, according to research compiled by IBISWorld.
October 22