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MILWAUKIE, Ore. — Being a top-rated credit union isn't for the faint of heart.

HOUSTON — With a March 31 deadline looming, credit unions are struggling with how to account for the combined 62 basis point assessment and impairment NCUA is requiring to shore up U.S. Central Credit Union.

RIVERWOODS, Ill. – Discover Financial Services yesterday reported a $177 million operating loss for its fiscal first quarter as its set aside more reserves to cover bad loans while credit defaults mounted.

LAS VEGAS–Despite operating in one of the most distressed markets in the country, Clark County CU not only made a profit in 2008, it returned a dividend of more than $2.8 million to its members and maintained capital of more than 10%.

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WASHINGTON — Congress was forced last week by an impasse on the omnibus spending bill in the Senate to extend emergency funding for the Central Liquidity Facility and other government agencies.

LAS VEGAS — Despite operating in one of the most distressed markets in the country, Clark County CU not only made a profit in 2008, it returned a dividend of more than $2.8 million to its members and maintained capital of more than 10%.

WASHINGTON — Accounting rules-setters assured Congress last week that changes to the much-reviled rules over mark-to-market accounting are well on their way, offering much-needed relief for credit unions and other financial institutions.

CLEARWATER, Fla. — Credit unions looking to boost ROA should turn to credit cards and platinum programs, which generate 7% more revenue than standard card products.

SANTA ANA, Calif. — Need proof that leadership begins at the top? The CEO of $8-billion SchoolsFirst FCU personally meets, and participates in the training of all employees.

MOUNT LAUREL, N.J. – PHH Corp., which operates the former CUNA Mutual Mortgage, reported last week that vast losses on its mortgage servicing rights created a fourth quarter loss of $216 million, and a $254 million loss for the year.

SEATTLE – The Federal Home Loan Bank of Seattle reported last night that fourth quarter losses soared to $241.1 million, due to a massive $304.2 million other-then-temporary impaired charge for the period.

TAMPA, Fla.-The chief executives of Suncoast Schools FCU and GTE FCU rejected the notion the proposed merger between the state's largest and fourth largest credit unions was forced by hard times experienced by the two, and insisted the two have flirted for some time.

COLUMBUS, Ohio-As banks boost fees across the board, especially for non-customers using ATMs, credit unions may have an opportunity to differentiate themselves with their own fee structures.

TORONTO, Canada-While credit unions are trying to keep their fees low despite economic pressures, one study shows many banks are having to hike fees.

ST. SIMON'S ISLAND, Ga.-Non-sufficient funds fees continued to grow at a substantial rate at credit unions and banks last year, serving as a reliable source of income, even as net interest margin continued to compact, according to a new study.

SAN FRANCISCO-San Francisco Fire CU rolled to the top of Callahan's Return of the Saver category for its asset size by returning a whopping 53% of its gross income in the form of dividends.

TAMPA, Fla. – The chief executives of Suncoast Schools FCU and GTE FCU yesterday rejected the notion the proposed merger between the state’s largest and fourth largest credit unions was forced by hard times experienced by the two, and insisted the two have flirted for some time.

ATLANTA – The Federal Home Loan Bank of Atlanta said last week it took steps to conserve capital to prepare for possible large write-downs in the value of some of its mortgage-backed securities.

DALLAS – The Federal Home Loan Bank of Dallas said losses on its hedging and derivatives caused it to report a fourth quarter loss of $67.6 million.