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WAUSAU, Wis. – NCUA this evening liquidated Wasau Postal Employees CU and assigned the remnants of the one-time $10 million credit union to nearby giant CoVantage CU.

The interest expense banks are paying for retail funds is now the lowest ever, according to analysis from Market Rates Insight.

Branchless-Realtors FCU, billed as the first virtual CU when it was chartered by the National Association of REALTORS three years ago, is throwing in the towel and plans to merge into Northwest FCU, the $2.2-billion CU in nearby Herndon, Va.

MIAMI – A group of Wall Street banks and rating agencies told a federal court here that “greed” and the need to grow earnings was responsible for the 2009 demise of Eastern Financial Florida CU, the one-time $2.4 billion credit union, not alleged fraud on their part in the sale of $100 million of risky financial derivatives known as collateralized debt obligations, or CDOs.

ROCKVILLE, Md. – Branchless-Realtors FCU, billed as the first virtual credit union when it was chartered by the National Association of REALTORS three years ago, is throwing in the towel and plans to merge into Northwest FCU, the $2.2 billion credit union in nearby Herndon, Va.

WASHINGTON – Consumer flight to credit unions has accelerated the past few months, with as many as 500,000 new members added to the membership roles in March, a record for a single month, according to CUNA.

Brian Turner has an admission: "everyone" thinks he's an "idiot," but he's not swayed when it comes to his opinion on interest rate risk.

Altura Credit Union has been a poster child for the troubles many CUs in California have faced in recent years, but with $7-million in first quarter net income the $708-million CU has joined a number of others in reporting stronger performance.

SAN ANTONIO – Check printer Harland Clarke Holdings reported a first-quarter loss of $22.9 million, compared with a profit of $23.4 million a year earlier, because of charges related to its parent company’s merger with MacAndrews & Forbes Holdings, the holding company for corporate financier Ronald Perelman.

As first quarter numbers trickle in, performance among credit unions in the Sand States is a mixed bag.

CHATSWORTH, Calif. – NCUA reported this afternoon that troubled Telesis Community CU had a loss of $13.6 million for the first quarter as its net worth deteriorated further from 4.6% at year-end 2011 to just 1.3% at March 31.

HARBOR, Ore. – NCUA said this afternoon that Chetco FCU, the one-time $375 million credit union it has been running under conservatorship since last September, lost a staggering $20 million in the first quarter, extinguishing all of its capital and undivided earnings.

YUMA, Ariz.– NCUA said this afternoon that AEA FCU, the one-time $410 million credit union which was victimized by a massive MBL fraud, continues to operate with zero capital, despite a $20 million emergency NCUA loan it is allowed to count as net worth.

ATLANTA – Processing giant First Data Corp. reported this morning its core businesses continue to grow but debt service left over from the $27 billion 2007 leveraged buyout by Kohlberg Kravis Roberts & Co. continued to generate huge losses.

MANHATTAN BEACH, Calif. – Kinecta FCU, the one-time $4.5 billion credit union that has struggled through the state’s recession, reported a $10.1 million net this morning for the first quarter, after a $30.6 million loss for 2011—the latest California giant to return to profitability.

PASADENA, Calif. – Two more once-ailing credit union giants, Wescom Central CU and Arizona FCU, are reporting strong financials again after rebuilding their net worth to healthy levels.

LAS VEGAS – Troubled Silver State Schools CU said this afternoon it lost another $3.5 million for the first quarter, erasing all of its remaining net worth and leaving it only with the emergency assistance provided by its private deposit insurer ASI.

Credit unions across the country are reporting robust financials for the first quarter, as much of their bad loans have been eliminated from their books and costs have been trimmed over the past three years.

SAN BERNARDINO, Calif. – Arrowhead Central CU, the one-time $1.1 billion credit union that teetered near failure when it was taken over by regulators two years ago, reported strong first quarter earnings and a return to the well-capitalized level, NCUA said this morning.

ALEXANDRIA, Va. – Credit unions across the country are reporting robust financials for the first quarter as much of their bad loans have been eliminated from their books and costs trimmed over the past three years.