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CARSON CITY, Nev. – Greater Nevada CU, weighed down by an $8 million 2008 loss followed by a $4 million loss for the first quarter, announced Friday it is shuttering two branches and laying off 27 employees.

LAS VEGAS — For credit unions in the so-called "sand states" — Nevada, Arizona, California and Florida — their financial foundations are much like a sandcastle lapped by an approaching surf.

LAS VEGAS — The tumbling economy smacked Glitter Gulch with a multi-pronged assault, but $162-million Community One FCU continues to serve its 21,500 members as best it can despite slipping into undercapitalized status.

VICTORVILLE, Calif. — As The Members' Own FCU continues to make itself available on the credit union singles (merger) market, management is fighting to get out from under the weight of bad mortgage loans.

MADISON, Wis. — Recently announced staff reductions at CUNA Mutual Group are not an indication it's on the same path followed earlier by some troubled corporate credit unions, its chief executive says.

OGDEN, Utah — The management philosophy of "doing everything that is best for the members" is not unusual within credit unions.

LAS VEGAS — For credit unions in the so-called "sand states" — Nevada, Arizona, California and Florida — their financial foundations are much like a sandcastle lapped by an approaching surf.

MESA, Ariz. – MariSol FCU said it has agreed to acquire Chicanos Por La Causa FCU, a troubled Phoenix credit union it has been managing since last July.

WASHINGTON – Congressional credit union champion Paul Kanjorski questioned the fairness of the corporate credit union bailout that spares more than 200 privately insured credit unions from paying a share of the $6 billion bill.

WINSTON-SALEM, N.C. – An item in yesterday’s CU Journal Daily Briefing about Allegacy FCU closing a branch incorrectly stated the credit union lost $1 million in the first quarter. It reported a $1 million net for the period.

WINSTON-SALEM, N.C. – Allegacy FCU, which reported a $25.1 million loss for 2008 and a $1 million first quarter net, reported Friday it is closing one branch.

MADISON, Wis. – CUNA Mutual Group, coming off a $149 million loss for 2008, said last week it is cutting 73 positions as part of a plan to reduce expenses by $50 million a year.

LYNCHBURG, Tenn. — Adding a debit card to its product mix has helped one $13-million CU grow by $2 million in assets over the last two years.

WASHINGTON — It's not only corporate credit unions that are being affected directly by their investments in membership capital shares at U.S. Central, as CUNA, which is also a member of U.S. Central, said it charged-off 23% of its MCS, and will probably take additional charges in the future.

SAN JOSE, Calif. — With delinquencies growing, many credit unions are scurrying to improve collections processes and outsource some of the work.

SAN ANTONIO — Even if a credit union has not seen a sharp increase in delinquencies, one CU is advising not waiting until a crisis occurs before establishing an outsourcing arrangement with a third-party collections company.

BALTIMORE, Md. — While many institutions are laying off employees, merging, or closing their doors entirely, one credit union is expanding and actively hiring new employees.

WASHINGTON – The Electronic Payments Coalition, comprised of banks and credit unions, vowed yesterday to fight a new bill that would allow large retailers to negotiate bilateral interchange fee agreements on transactions with card issuers.

ATLANTA – The Federal Home Loan Bank of Atlanta, which lost $1.5 million in the first quarter, announced yesterday the cancellation of a first quarter dividend.

OREM, Utah – Family First FCU, which has been weighed down by large losses the past two years, said it has named Kent Moore, a long-time executive at Mountain America CU, to be its president and CEO.