Content classifications

WHEELING, W.V. – NCUA on Friday liquidated $8 million Center Valley FCU, the second credit union failure of the year.

WEST ALLIS, Wis. – The proposed combination of Guardian CU and Prime Financial CU, which would have created the state’s 11th largest credit union, was called off Friday amid large losses reported by both Milwaukee-area credit unions.

PHOENIX – Arizona FCU, which reported a staggering $115.9 million loss last year, announced Friday it is closing four branches.

WAUSAU, Wis.-Marathon County Employees CU averages more than four services per member, which is the big reason it grew its assets by 11.5% in 2008 and capital by 14%.

LAKE MARY, Fla.-Times are tough, but that's all the more reason to attend Credit Union Journal's upcoming Grow Show, where a variety of proven growth strategies will be on tap.

Teresa Halleck, president and CEO

DUBLIN, Ohio-There is a small group of credit unions that won't take a direct hit from NCUA's proposed Corporate Stabilization Plan: privately insured credit unions.

WASHINGTON-State regulators are scrambling to learn more about NCUA's proposed Corporate Stabilization Plan to determine how it will impact the state-chartered CUs they regulate - and how the regulators will take that impact into consideration come examination time.

SALT LAKE CITY, Utah-Count Kris Mecham among those who support the concept of a plan to help corporates, but who also questions NCUA's current proposal.

AUSTIN, Texas-NCUA's corporate rescue may force credit unions to make some tough ALM choices this year. But one securities firm says that investing in longer-term instruments should not be one of those.

ALBANY, N.Y.-At the same time last week credit unions were keeping an eye on a bill in the House to bring relief from NCUA's billion-dollar corporate rescue plan, state leagues and their members were calling on NCUA to adjust its bailout plan to lighten the CU burden.

WASHINGTON-With more than $700 billion in bailout funds approved by Congress dedicated to saving troubled banks, lawmakers are shifting their attention to troubled homeowners in hopes of stemming an expected new rush of foreclosures.

WASHINGTON-The credit union lobby was still waiting last week for word from the Treasury Department on whether it would help out in the rescue of corporate credit unions.

WASHINGTON-Opposition among credit unions was spreading last week to NCUA's plans to finance a rescue of the corporate credit union network with a $5-billion premium assessed all federally insured CUs.

BURLINGTON, Mass. Eastern Corporate FCU (EasCorp) sent a letter to the board of U.S. Central last week saying the corporate's corporate has "failed the crdit union industry" and calling for "immediate changes" in U.S. Central's management.

WASHINGTON-Just days after NCUA approved a rescue of the corporate credit union network, Congress began to plot efforts last week to ease the crushing $5-billion cost on credit unions.

MILWAUKEE – Back officer service provider Metavante Technologies reported net income for its fourth quarter of $40.4 million, creating a fiscal year profit of $147.3 million for 2008, its first year as an independent company.

PURCHASE, N.Y. – MasterCard International said yesterday net income for its fourth quarter declined by 21%, to $239.4 million, absent a one-time gain the prior year for its sale of stock in Brazil’s credit card company, Redecard SA.

NORTH CANTON, Ohio – ATM maker Diebold said yesterday it broke back into the black in the fourth quarter with net income of $5.9 million, or nine cents.

MONETT, Mo. – Jack Henry & Associates yesterday reported a 4% decline in its fiscal second quarter earnings, to $28 million, or 33 cents a share, fueled by a 1% drop in revenues, to $190.2 million.