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CHICAGO – The Federal Home Loan Bank of Chicago, reeling from unrealized losses on its private-label mortgage backed securities, said last week it expects to report a loss of $119 million for 2008 sometime next month when it releases audited results for the year.

PITTSBURGH, Penn. – The Federal Home Loan Bank of Pittsburgh reported last week that other-than-temporary impairment charges of $266 million taken on its private label mortgage backed securities forced it to take a $187.9 million loss for its fourth quarter.

SAN DIMAS, Calif. – WesCorp FCU reported Friday that unrealized losses on its troubled investment portfolio increased by $310 million in January, to almost $2.9 billion, as the credit markets continued to stall.

CUDAHY, Wis. – A week after the break-up of the merger between Prime Financial CU and Guardian CU, state regulators took financially ailing Prime Financial under conservatorship on Friday.

WASHINGTON-Faced with declining numbers, the National Federation of Community Development CUs is asking NCUA to act to convert some $16 million in low-interest loans through NCUA's Community Development Revolving Loan Fund into permanent capital.

WASHINGTON-CUNA announced last week the crashing stock markets slammed its investment portfolio last year to push the trade association deeper into the red, to the tune of $8 million.

PORTLAND, Ore.-Continuity and a personal touch keep tiny Sunset Science Park FCU at or near the top of credit union rankings, according to its CEO.

ALEXANDRIA, Va.-The nation's credit unions reported a loss for the fourth quarter of 2008-a whopping $2 billion-the first quarterly loss ever for the industry, NCUA reported last week.

SAN FRANCISCO – The Federal Home Loan Bank of San Francisco last night reported a $103 million loss for its fourth quarter, due to a $590 charge for other-than-temporary impaired mortgage backed securities.

LENEXA, Kan. – U.S. Central FCU posted its final financials for 2008 yesterday, showing the massive $1.2 billion charge for December for its troubled mortgage securities, creating a $1.1 billion loss for the year and casting doubt over the future of the central bank for credit unions.

BOSTON – The Federal Home Loan Bank of Boston announced it will cease paying dividends after mounting unrealized losses on its mortgage backed holdings forced it to report a $73.2 million loss for 2008.

WASHINGTON – Operating as a ward of the federal government, Fannie Mae posted a massive $25.2 billion loss in the fourth quarter, blaming its abysmal performance on asset- and derivative-related writedowns.

HOUSTON – Cardtronics Inc., which has become the key ATM link for credit unions, reported yesterday its fourth quarter loss surged to $57.9 million, from a $7.4 million loss for the same period in 2007.

ALEXANDRIA, Va. – The nation’s credit unions reported a loss for the fourth quarter of 2008–a whopping $2 billion–the first quarterly loss ever for the industry,.

WASHINGTON – CUNA said yesterday the crashing stock markets slammed its investment portfolio last year to push the trade association deeper into the red, to the tune of $8 million.

WASHINGTON-President Barack Obama delivered a one-two punch last week with his signing of the economic stimulus package and unveiling his foreclosure prevention plan, both of which could be good news for credit unions.

ALEXANDRIA, Va.-It's been probably the worst 18-month period in credit union history, but don't expect things to get better anytime soon, that's according to Melinda Love, the new chief examiner for NCUA.

WASHINGTON-CUs' balance sheets are "much more solid than their competitors" and despite a huge jump in delinquencies and charge-offs are still on track to grow in 2009 according to Callahan's "First Look" at Q4 2008 and full-year numbers.

SAN LUIS OBISPO, Calif.-Help members when they need it, don't chase after money and love what you do-that's how one credit union is posting good numbers in a bad economy.

SAN DIMAS, Calif.– Financial Service Centers Cooperative said yesterday it will pay a $1.1-million patronage refund to credit unions participating in its shared branch network for transactions performed during 2008.