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MESA, Ariz. – Vensure FCU, a troubled $5 million transplanted New York credit union, was taken under conservatorship this afternoon by NCUA.

LAS VEGAS — A credit union for gaming employees knows a thing or two about a losing streak. For $135-million WestStar Credit Union, 2008 and 2009 were about as bad a run as any have seen in this town.

LAS VEGAS — Rick Schmidt, CEO of WestStar CU, shared several of the strategies his CU has pursued over the last several months to turn things around.

A review of call reports filed with FDIC and compiled by BankRegData.com, shows that average compensation at banks in the last few years rose — and at the same rate as it did before the crisis.

MADISON, Wis.-Credit unions should expect the rest of 2011 to continue to be as challenging as 2010. That's the word from Dave Colby, CUNA Mutual's chief economist, who offered that forecast during the company's first Discovery Webinar of 2011.

ST. PETERSBURG, Fla. – PSCU Financial Services announced this morning it raised its dividend 18% this year and paid its 650 credit union members $21.3 million. In addition to the dividend, financial savings of $6.5 million were passed along to member-owners during last year in the form of price reductions and rebates, said the CUSO, which provides electronic payment and call center services to more than 1,500 credit unions. “This $21.3 million dividend payout augments net income for our member-owners and also equips them to fund activities to gain members and market share in the coming year,” said Craig Esrael, president of First South Financial and chairman of the PSCU board. PSCU Financial Services delivered solid growth for its entire portfolio of products and services including: 6% growth in debit/credit/prepaid and online bill payment transactions; 4.9% expansion in Contact Center volumes and 1.3 billion transactions processed, a new milestone for the company.

LAS VEGAS-Silver State Schools CU, the nation's largest privately insured credit union, said while it continued to lose money in the fourth quarter, the rate of losses slowed, allowing it to cut red ink from $50.9 million for 2009 to $21.4 million for 2010.

ALEXANDRIA, Va. – The NCUA Board this morning proposed a rule that would require credit unions to develop a written interest rate risk policy and interest rate risk management program as a requirement for federal deposit insurance. The proposal comes amid growing uncertainty on interest rates caused by new Federal Reserve policies, the ballooning federal deficit and the turmoil in the Middle East and its affects on rates, NCUA said. In addition, credit unions exposure to interest rate risk has risen in recent years, due, among other things, to a growing portion of assets–now almost 35%–tied up in mortgages. That compares to just 20% for banks. In proposing the rule, NCUA explained there is no one-rule-fits-all approach but that every credit union needs to devise its own policy based on individual aspects and conditions of the institution. The rule, issued for a 60day comment period, would exempt credit unions under $10 million in assets and credit unions up to $50 million with a percentage of first mortgages and investments greater than five years that is less than 100% of net worth.

MADISON-The top concern related to pending interchange reform is, of course, its impact on income, but there's something else that could take a hit, as well: membership growth.

MADISON, Wis.-As credit union economists cull through the recently released fourth quarter data, they shared the surprises, red flags and points of interest to be found in the numbers.

WASHINGTON-Credit unions have been lauding their membership growth and the steady march toward 100-million total members in the U.S., but the country's CUs actually lost members during Q4 of 2010.

LAS VEGAS – Silver State Schools CU, the nation’s largest privately insured credit union, said yesterday while it continued to lose money in the fourth quarter, the rate of losses slowed, allowing it to cut red ink from $50.9 million for 2009 to $21.4 million for 2010.

LAS VEGAS – Silver State Schools CU, the nation’s largest privately insured credit union run under a state supervisory agreement for the past year, announced this morning that it reduced its losses while rebuilding net worth last year. The annual financial report says the one-time $1 billion credit union had a loss of $21.4 million for 2010, down from a $50.9 million 2009 loss; and net worth increased from just 2.4% at year-end 2009 to 4.3% at year-end 2010. Assets declined to just $718 million at Dec. 31. The credit union, insured by ASI, the last surviving private insurer for credit unions, has been operating under a strict supervisory agreement with state regulators, and a $22 million assistance from ASI.. By the end of the year, Silver State had paid back about $6 million of the assistance. Officials with the credit union, once Nevada’s largest, were not immediately available to comment.LAS VEGAS – Silver State Schools CU, the nation’s largest privately insured credit union run under a state supervisory agreement for the past year, announced this morning that it reduced its losses while rebuilding net worth last year.

SANTA FE, N.M. – NCUA said last night it liquidated Land of Enchantment FCU and assigned the member accounts of the one-time $11 million credit union to Guadalupe CU, a $102 million credit union also in Santa Fe. Land of Enchantment lad losses of $765,000 for 2009 and of $297,000 for 2010 and net worth of just 1% at year-end 2010. The credit union, the fifth failure of 2011, was chartered in 1951 to serve the employees of the New Mexico Department of Public Welfare.

WARNER ROBINS, Ga.-Numerous business practices are responsible for Robins FCU's 1.49% ROA in 2010-including new technology, employee training, and net interest margin management. Yet the credit union says one simple business philosophy has made the biggest contribution.

ALEXANDRIA, Va.-Credit union net income was up 208% during Q4 2010, according to NCUA data released last week, although credit union membership actually declined during the quarter.

OGEMA, Wis. – NCUA and state regulators took over and liquidated tiny Wisconsin Heights CU this afternoon and assigned the member accounts of the fourth credit union failure of 2011 to CoVantage CU, the $860 million credit union based in nearby Antigo. Wisconsin Heights has just 501 members and $713,000 in assets at liquidation and never reached $1 million in assets since its 1963 chartering. It had no full-time employees.OGEMA, Wis. – NCUA and state regulators took over and liquidated tiny Wisconsin Heights CU this afternoon and assigned the member accounts of the fourth credit union failure of 2011 to CoVantage CU, the $860 million credit union based in nearby Antigo.

ALEXANDRIA, Va. – Credit unions across the country reported a strong fourth quarter, cutting operating expenses to boost return-on-assets, as the economic rebound appears at hand, according to NCUA. ROA, the key profitability indicator, rose to 0.51% for the fourth quarter, up from 0.45% for the third quarter, and just 0.18% at year-end 2009. While operating expenses -- including stabilization expenses, cost of funds, and provision for loan loss expenses -- declined. Still, there are some troubling signs, as both lending and membership declined in the fourth quarter, while share growth was very tepid, less than 1%. For the year, lending declined by more than 1.3%. “Credit unions, as a whole, are exhibiting positive trends in their operations,” said NCUA Chairman Debbie Matz. “As the nation emerges from a prolonged economic contraction, the stabilization of many strategic indicators and evidence of improving economic trends demonstrate positive developments for credit unions.” “Virtually every key ratio improved by year-end -- net worth climbed to 10.06 %; return on average assets grew 33 basis points after recovering from a decline in 2008 and showing slight improvement in 2009; and delinquencies, charge-offs, and cost of funds declined.” Delinquencies remained at historically high levels, ending 2010 at 1.74%, and the charge-off ratio was 1.1% Credit union member bankruptcies continue to increase also and were up by 3% over 2009 to a new high.ALEXANDRIA, Va. – Credit unions across the country reported a strong fourth quarter, cutting operating expenses to boost return-on-assets, as the economic rebound appears at hand, according to NCUA.

WHEELING, W.Va. — Members of Center Valley FCU, brought down by CEO fraud that drained some $9 million from the institution, continue to pursue an accounting for losses on their share accounts and for missing loan payments, authorities said last week after the former CEO, Bernie Metz, was sentenced to nine years in prison.

ALEXANDRIA, Va. — NCUA reported that during January it did not write off any of the National Credit Union Share Insurance Fund's (NCUSIF) assets as insurance loss expense. NCUA had budgeted for as much as $54.2 million in insurance fund losses during the month.