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ST. PAUL, Minn – Deluxe Corp. said profit fell for a sixth straight quarter, hurt by charges related to the writedown of goodwill and restructuring-linked costs and the continued move away from paper checks.
April 29 -
SAN FRANCISCO – Visa Inc., the world’s largest payments system, posted better-than-expected quarterly earnings yesterday as card network increased prices, slashed expenses and consumers used debit cards more.
April 29 -
WARRENVILLE, Ill. – Members United Corporate FCU, struggling with huge losses on its investments, said yesterday it is closing down its Members Health Network CUSO for lack of funding.
April 28 -
MINNEAPOLIS – Fair Isaac & Co., the maker of the ubiquitous FICO credit score, reported a strong fiscal second quarter, with net income surging 31% to $17.7 million for the period, after a restructuring that pared a fourth of its workforce last year.
April 27 -
MILWAUKEE – Metavante Technologies, the back-office service provider for credit unions and banks preparing to be acquired by Fidelity National Services, reported yesterday that first quarter earnings rose 15% to $40.3 million, while revenues advanced by 1% to $426.9 million.
April 27 -
SACRAMENTO, Calif. – The $2 billion charge for the failure of WesCorp FCU that is trickling through credit unions in California and Nevada couldn’t have come at a worse time, as the economy in these two hard-hit Sand States continues to decline.
April 27 -
EUGENE, Ore. – In one of the first signs of the collateral effects of the corporate bailout, Oregon Community CU announced Friday plans to close down all four of its Portland branches, ending five years physical presence in the state’s biggest city.
April 27 -
MIRAMAR, Fla. – A team from NCUA and as many as 10 senior managers from Space Coast CU were speeding here over the weekend to try to save Eastern Financial Florida CU, the state’s third-largest credit union that was taken over on Friday.
April 27 -
MIRAMAR, Fla. – NCUA said this afternoon it has assumed control of Eastern Financial Florida CU, the once high-flying airlines credit union that lost $114 million last year.
April 24 -
MIRAMAR, Fla. – NCUA said this afternoon it has assumed control of Eastern Financial Florida CU, the once high-flying airlines credit union that lost $114 million last year.
April 24 -
BLOOMINGTON, Minn. — Credit union auditors are laying out the options for how credit unions can account for their share of the corporate bailout costs and the impairment of capital in WesCorp FCU, but are leaving it up to their clients to decide how they will report the charges.
April 24 -
LAKE BLUFF, Ill. — Reducing capital standards to 3% reduces the number of natural-person credit unions needing assistance by 1,000, according to Mike Moebs of Moebs $ervices, who offered a preview of what the results of the Treasury's "stress test" will look like.
April 24 -
LANSING, Mich. — State regulators told state-chartered credit unions they will not be penalized if their net capital and earnings fall below regulatory standards solely because of costs related to NCUA's corporate credit union bailout.
April 24 -
LAKE BLUFF, Ill. — When the Treasury Department releases findings of its "stress test" for 19 of the nation's leading banks on May 4, one analyst is confident the numbers will not look good.
April 24 -
TALAHASSEE, Fla. — Personal service combined with a relentless advertising blitz are the dual engines driving Florida Rural Electric CU's success.
April 24 -
ALEXANDRIA, Va. — Costs associated with NCUA's corporate bailout, as well as last month's failures of U.S. Central FCU and WesCorp FCU, are wreaking havoc on the first quarter financials of credit unions, pushing many of them into the red for the first time.
April 24 -
TAMPA, Fla. – For Suncoast Schools FCU, coming off a $76.7 million loss for 2008, an additional charge of $30.6 million for the corporate credit union bailout was unwelcome, especially as it cut net capital for Florida’s biggest credit union to just 6.05%, barely above the so-called well-capitalized mark.
April 23 -
DAYTON, Ohio -- ATM maker NCR Corp. lost $15 million in the first quarter compared with a profit of $48 million in the same period of 2008, largely because of a downturn in the retail industry, the company said yesterday.
April 23 -
RESTON, Va. – Sallie Mae, the nation's largest student lender, narrowed its loss in the first quarter to $21 million, down from a $104 million first quarter loss last year, despite government efforts to stabilize short-term debt markets that Sallie Mae says hurt its results.
April 23 -
PHOENIX – Arizona FCU, continuing to struggle with large losses, is shutting two more branches, making a total of six branches closed so far this year.
April 23
