Content classifications

ORLANDO, Fla. - Not surprisingly, “growth” dominated the discussion last week during Credit Union Journal’s Grow Show here. More surprisingly, perhaps, was that it was generally agreed by many of the fastest-growing credit unions in the country that growth as a strategy and growth for growth’s sake is a mistake that often leads to just the opposite.

CONCORD, Calif. - Members continued to draw their funds out of ailing Cal State 9 CU at an increasing rate in the first quarter, while losses at the one-time $465-million institution, another victim of the mortgage crisis, continued to grow.

WASHINGTON - The Federal Open Market Committee of the Federal Reserve dropped its overnight target rates by .25%, the seventh rate cut since September 2007.

MIRAMAR, Fla. - Growing losses on exotic mortgage-backed securities have forced Eastern Financial Florida CU to submit new financials to NCUA showing even larger record losses for 2007 of $68.9 million.

SAN DIEGO - More California credit unions, large and small, are reporting losses for the first quarter of 2008, what some are calling “collateral damage” from the subprime meltdown.

SAN DIEGO - Two mergers of large credit unions have rocked the Southern California market with the general conclusion that size, apparently, does matter.

WASHINGTON - One of the largest student-run credit unions in the country has worked to turn itself around after getting a lesson in Competition 101 from a local bank.

RANCHO CUCAMONGA, Calif. - Get ready to go home armed with three actionable items for member growth and profit improvement through payment systems.

MADISION, Wisc. - Credit unions are losing out on opportunities if they don’t address their generation gap, reports CUNA Mutual.

MADISON, Wis. - In market in which the only thing increasing is expenses and competition and the only thing shrinking is margins, credit unions have no choice but to trust each other and collaborate to survive, according to a new report released by the Filene Research Institute.

MADISON, Wis. - The public interest would be well-served were credit unions given greater access to alternative capital sources, according to a new report from the Filene Research Institute.

INDEPENDENCE, Mo. - What do the top 100 credit unions in terms of growth have in common? A sales and service culture, according to an analysis by one credit union expert.

TUKWILA, Wash. - To grow your credit union, don’t focus on growth–focus on making members happy.

OVERLAND PARK, Kans. - Credit unions have a secret weapon that banks generally don’t have when it comes to growth: collaboration.

WALL STREET - Fitch Ratings, citing continued exposure to the crashing mortgage market, downgraded its ratings for U.S. Central FCU last week.

MADISON, Wis. - The latest reductions in the federal funds rate should only help credit unions to increase their earnings, according to an analysis by two experts, with one cautioning that credit unions must be particularly aggressive in managing their costs of funds.

KEY WEST, Fla. - It’s good to track the credit union’s growth against the business plan and past performance, but it’s better to also compare how the organization is performing against local competitors.

WASHINGTON - NCUA Chairman JoAnn Johnson told Congress last week that credit unions have beefed up their provision for loan losses over the past year and are well positioned to weather the continuing credit storm, even as delinquencies and charge-offs continue to rise.

MADISON, Wis. - Despite taking a hit from investment losses tied to the subprime market, CUNA Mutual said its 2007 financials show a record year for earnings.

MADISON, Wis. - The credit union industry’s loan-to-savings ratio decreased slightly to 84.4% during January from 84.6% in December as savings outpaced loans, according to analysis by CUNA. The liquidity ratio rose to 18% in January from 17% in December.