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WASHINGTON – CUNA, which has been struggling with large losses, said yesterday it will furlough all employees for a week of unpaid leave and stop making matching 401(k) retirement account payments to help stem its declining financial situation.

PLANO, Texas – Fast-growing EDS CU has applied to state regulators to acquire troubled First America FCU in Santa Ana, creating a presence in southern California.

FLINT, Mich. – Credit unions are searching for new ways to help the beleaguered auto workers after Monday’s bankruptcy filing by General Motors, but most of them have been offering special programs for years to stem the demise of America’s car industry.

VICTORVILLE, Calif. — If NCUA chooses to level the land rather than pay the tab to maintain all the homes it owns in Florida's depressed real estate market, it wouldn't be the first to tear down rather than maintain homes.

WASHINGTON — Commercial banks and thrifts insured by the FDIC reported net income of $7.6 billion in the first quarter of 2009, a decline of 61%, from the $19.3 billion that the industry earned in the first quarter of 2008.

AUSTIN, Tex. — With rising crime and vandalism prompting one lender to bulldoze homes rather than incur increasing costs to carry the foreclosed properties, are some Florida houses owned by CUs and the NCUA next to be demolished?

ALEXANDRIA, Va. — Corporate bailout charges combined with the spreading recession that forced credit unions to move billions more into loan loss reserves, created the worst quarter ever for credit unions during the first three months of the year, according to NCUA.

HOUSTON — Smart Financial Credit Union reports it shrunk its delinquency ratio from three times above peer average to three times below by removing "rigid" collections policies and making them very flexible.

APPLE VALLEY, Calif. – At least three large credit unions, including New Jersey’s Affinity FCU, were in town over the past two weeks to review possible takeovers of High Desert FCU and The Members Own CU, two of the most troubled credit unions in the state.

ALEXANDRIA, Va. – At least a half dozen credit union giants were approved to absorb ailing smaller credit unions last month, as NCUA struggles to keep the costs down to resolve troubled credit unions.

WASHINGTON – Commercial banks and thrifts insured by the FDIC reported net income of $7.6 billion in the first quarter of 2009, a decline of 61%, from the $19.3 billion that the industry earned in the first quarter of 2008.

ALEXANDRIA, Va. – Buffeted by the costs to bail out U.S. Central FCU and WesCorp FCU and the spreading recession, credit unions had their worst quarter ever in the first three months of the year, according to data released by NCUA yesterday.

SACRAMENTO, Calif. – SAFE CU, the state’s 17th largest credit union with $1.5 billion in assets, announced yesterday it has agreed to acquire ailing American River Healthpro FCU, the latest troubled California credit union to be merged out.

LAS VEGAS — Congress and President Obama OKd the corporate stabilization bill, but CU CFOs say there's still a lot of uncertainty and confusion about how to account for the assessment and impairment — and how to tell how well a credit union is performing.

WASHINGTON — NCUA worked behind closed doors with representatives of the Federal Reserve and the Treasury to ensure both corporates and natural person credit unions had adequate sources of liquidity available as the corporate system was showing signs of a meltdown last fall, NCUA Chairman Michael Fryzel told lawmakers last week during hearings on the corporate credit union bailout.

WASHINGTON — NCUA was already planning last week to stretch out the costs of the corporate credit union bailout after Congress passed legislation giving the federal regulator vast new powers.

SEATTLE – The Federal Home Loan bank of Seattle, which has been struggling with a large portfolio of underwater mortgage-backed securities, reported a $467 million capital deficiency yesterday as part of first quarter financials.

CARSON CITY, Nev. – Greater Nevada CU, which followed a $7.9 million loss for 2008 with a $4 million operating loss for the first quarter, announced yesterday it is closing two branches.

WASHINGTON – Five Federal Home Loan Banks have delayed reporting their first quarter financials while they grapple with new accounting rules to help minimize losses.

DEARBORN, Mich. – Regulators on Friday took over Rouge Employees CU, the credit union serving employees of Ford’s famed Rouge River auto plant, and merged the remnants of the failed credit union into Chief Financial FCU, the Pontiac-based auto workers credit union.