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SUNNYVALE, Calif. – Don’t tell the executives at Star One CU they’re in the midst of the worst financial crisis to hit the U.S. in decades–the $52.3 million net, more than four times last year’s $11.8 million net, belies that.

MANHATTAN BEACH, Calif. – The real estate bust may be in full-force here but new troubles are emerging in other areas, including auto and credit card loans.

RESTON, Va. – Student loan giant Sallie Mae said yesterday it lost $216 million in the fourth quarter, to record a $213 million loss for the year.

SAN BERNARDINO, Calif. – Even though the state’s recession has been going for as long as two years, some large credit unions that had been unscathed are starting to report big losses.

PHOENIX – Large credit unions are reporting losses–big losses–for the first time, as the recession spreads through Arizona’s credit unions.

TAMPA, Fla. – The recession isn’t expected to fade soon, at least not among executives at the dozens of area credit unions reporting large losses for the fourth quarter and all of fiscal 2008.

GRAND RAPIDS, Mich. – CU*Answers, a CUSO that provides a variety of technology and other solutions, said it is paying a $400,000 patronage dividend to its credit union owners, double last year’s payout.

NEW HARTFORD, N.Y. — GPO FCU paid its members a year-end dividend bonus and interest rebate.

PHOENIX – Some of the nation’s largest credit unions are reporting record losses this week, threatening the existence of some of them and posing the potential of big losses for the National CU Share Insurance Fund.

MIDLAND, Mich. – Dow Chemical Employees CU announced a $9 million special payment to its members, just as the $1.2 billion credit union was reporting one of its best years.

SEATTLE-The Federal Home Loan Bank of Seattle reported unrealized losses on its private-label mortgage backed securities will push it below regulatory capital limits and could force it to suspend dividends and excess stock repurchases.

COLUMBUS, Ohio-Increasing fees being charged by banks should present an opportunity for credit unions to capture share, but some are facing an ironic dilemma: the pressure many credit unions are feeling to raise their own fees.

WASHINGTON-The House has delayed until this week a vote on a bill to set aside billions of dollars for distressed homeowners and give access to cash infusions under the Troubled Asset Relief Program to CUs.

PITTSFORD, N.Y. – Pittsford FCU said it is paying its 25,000 members a special dividend totaling $500,000.

WALL STREET – Fitch Ratings downgraded U.S. Central FCU again yesterday, amid growing losses on the books of the corporate credit union for corporate credit unions.

WILLIAMSVILLE, N.Y. – Western Division FCU announced it paid its members a record dividend this year totaling $1 million.

SAN BERNARDINO, Calif.- Arrowhead CU will close four branches effective Feb. 7, the $1-billion CU said.

APPLE VALLEY, Calif.-High Desert FCU, which was taken into conservatorship by NCUA in October, continues to post losses and capital has declined to nearly 2%, but management insists the credit union is not looking for a merger partner or a purchase and assumption agreement.

LOMBARD, Ill.-Credit union special dividends and year-end bonuses may be down slightly this year, observed industry experts, who suggested that those that have managed to increase dividends may drive long-term growth.

ABILENE, Texas – Abilene Teachers FCU said it will be giving its members an interest rebate of 7.5%, amounting to about $500,000.