Content classifications

IMGCAP(1)]

MADISON, Wis.-Credit union members continue to save but remain reluctant to borrow, according to data for March 2010 released by CUNA's economists.

FRANKLIN, N.Y.-For credit unions everywhere market conditions and a recession have made the CEO's job even tougher-and that's especially true at one small CU here that wishes to remain independent and isn't wanting to merge.

LOS ANGELES – Big credit unions in the four “Sand States,” plus one (Utah), are continuing to report big losses, even as a glimmer of economic recovery is starting to emerge nationwide.

CUDAHY, Wis. – Prime Financial CU on Thursday was cut loose by state regulators, who had operated the troubled one-time $200 million credit union under conservatorship since last March.

TAMPA, Fla. – For Suncoast Schools FCU, Florida’s biggest credit union, that sunshine at the end of the tunnel is still a long way off.

TALLAHASSEE, Fla.-Credit unions' reluctance to embrace "sales" has also caused many consumers to remain unaware CUs are a better deal than banks.

TALLAHASSEE, Fla.-The CU24 study also found 51% of CU leaders believe better service is the strongest competitive advantage of CUs over banks, compared to 22% who cited better loan rates. EVP/COO Jim Gowan said this points to an important question for all credit unions: "What really is our value proposition that differentiates us from banks?"

TALLAHASSEE, Fla.-Other findings in the CU24 survey.

SAN DIEGO – Thanks in part to expenses saved on operations and significantly less money going into Allowance for Loan Losses, North Island Credit Union on Thursday said it posted earnings of $7.66 million for the first quarter of 2010.

TRACY, Calif. – NCUA, which took over Tracy FCU last month, liquidated the one-time $33 million credit union and assigned its remnants to Valley First CU under a purchase and assumption agreement.

SACRAMENTO, Calif. – California credit unions are reporting better numbers for the first quarter, but economic indicators have yet to point to an end to the state’s depressed economy.

SAN ANSELMO, Calif.-Certificates with terms of three or more years and less than $100,000 are the most sensitive to the Fed effective rate according to new analysis from Market Rates.

EUREKA, Calif.-Coast Central CU has parlayed strengths in operational efficiency, cross-selling and the depth of member relationships it has with its members to a spot on the Credit Union Journal Leaderboard.

WASHINGTON-The role of the financial regulators' and their oversight failures is coming under increasing attention by Congress and the public as the debate over financial services reform comes to a head.

NEW YORK – Polish & Slavic FCU will pay its members a $2.5 million special dividend on May 3 to coincide with the anniversary of the Polish Constitution of 1791.

CLEVELAND – NCUA this afternoon took under conservatorship St. Paul Croatian FCU because of the declining financial condition of the $250 million credit union.

WASHINGTON – CUNA on Monday released audited financials to show the trade association erased two years of red ink with $6.8 million in net income for 2009.

LAKE BLUFF, Ill.-Without capital credit unions will not play a significant role in the nation's economic recovery and, moreover, a large number will fail if they cannot access some form of alternative capital.

ALEXANDRIA, Va.-Despite one consultant's "stress test" that shows CUs are considerably undercapitalized, NCUA believes CU capital is strong enough to withstand ongoing economic challenges, following stress tests the agency has performed.