Content classifications

WASHINGTON – Regulator on Friday shut down another seven banks, making 106 failures, the most since 1992. during the end of the S&L crisis.

MARKS, Miss. – NCUA said Friday it has taken under conservatorship First Delta FCU, a one-time $7.5 million community development credit union pushed into insolvency by a $1.5 million embezzlement by one of its employees.

LAS VEGAS – Friday’s failure of Cumorah CU, the third Nevada credit union to fail in the past month is the latest indicator that the most difficult economic environment in the country has moved here from southern California.

LAS VEGAS – State regulators late Friday closed down Cumorah CU, a one-time $210 million institution and the third credit union in the state to fail in recent weeks.

ALEXANDRIA, Va. -- NCUA yesterday predicted more losses for both corporate and natural person credit unions, meaning additional charges ahead to replenish reserves for the National CU Share Insurance Fund.

DEARBORN, Mich. – For the fourh year in a row DFCU Financial has paid a record dividend to members–this time a $19 million payout.

BAKERSFIELD, Calif. – Troubled Kern Schools FCU revealed yesterday it has been operating under a supervisory agreement with NCUA requiring it to rebuild its capital.

BAKERSFIELD, Calif. – Regulators seized San Joaquin Bank and sold the remnants of the latest bank failure to Citizens Business Bank of nearby Ontario, Calif.

SAN ANTONIO, Texas — Pancakes, '50s wigs, and a lot of team spirit have helped Security Service FCU cut its delinquency rate.

PHOENIX — The path to positive numbers is clear: members simply need to be able to make their loan payments.

WASHINGTON — The credit union lobby declined to support an amendment offered last week to the bill creating a Consumer Financial Protection Agency exempting small institutions, saying the bid would split the industry.

WASHINGTON — NCUA told Congress it expects growing losses on mortgages and member business loans to combine with billions of dollars of losses trickling down from troubled corporate credit unions to cause increasing credit union failures into 2010 and 2011.

LAS VEGAS — Two long-time CEOs of credit unions here abruptly resigned their positions last week: Dan Paulson of WestStar CU and Tony Mook at Cumorah CU.

WASHINGTON — While CUNA was busy announcing it had reached an agreement with NAFCU on the parameters for alternative capital, NAFCU was just as busy suggesting the two trade groups had a ways to go before anyone should be making a cooperative victory lap.

WASHINGTON – The Federal Reserve announced it is shutting down three more check processing operations next month, furthering its plans to move all processing to a single center and making all checks considered "local" by the end of next year.

BAKERSFIELD, Calif. – Kern Schools FCU, which is reporting growing losses on its mortgages, said yesterday it has hired Steven Renock, the former president of CUNA Mutual Mortgage, as president and CEO of the $1.8 billion credit union.

WASHINGTON – NCUA told Congress this afternoon that it expects growing losses on mortgages and member business loans to combine with billions of dollars of losses trickling down from troubled corporate credit unions to cause increasing credit union failures into 2010 and 2011.

WASHINGTON – NCUA told Congress this afternoon that it expects growing losses on mortgages and member business loans to combine with billions of dollars of losses trickling down from troubled corporate credit unions to cause increasing credit union failures into 2010 and 2011.

WASHINGTON – NCUA told Congress this afternoon that it expects growing losses on mortgages and member business loans to combine with billions of dollars of losses trickling down from troubled corporate credit unions to cause increasing credit union failures into 2010 and 2011.

BIRMINGHAM, Ala. – State regulators said yesterday they have hired Douglas Key, a long-time credit union attorney, as CEO of Mutual Savings CU, the $200 million credit union taken under conservatorship July 31.