Content classifications

NEW ALBANY, Ind. - Authorities have little hope of recovering any of the $7 million a teller stole from Obelisk FCU, forcing NCUA to liquidate the 70-year-old credit union earlier this year, and sell off its good parts.

CONCORD, Calif. - Soaring losses in the real estate loan portfolio of Cal State 9 CU forced NCUA to take the $390-million state chartered credit union under conservatorship, with plans to either merge or sell the failed institution.

KEY BISCAYNE, Fla. - Credit unions have already given up their tax advantage, they just don't realize it.

LENEXA, Kan. - Increased exposure to the mortgage backed securities market, including the subprime market, caused U.S. Central FCU to report losses of almost $17 million for the third quarter.

JACKSONVILLE, Ark. - Arkansas Federal Credit Union isn't afraid to set a big goal. At about a half billion dollars in assets, the CU is looking to join the billion-dollar club quickly-but to do so, it needed to change the way things were getting done.

WASHINGTON - A group of credit union economists has issued a new economic forecast that is more pessimistic than what was being projected earlier this year, cutting its 2008 CU loan growth outlook by nearly 100 basis points.

SEATTLE - So a guy with a million dollars walks into a credit union ...

DEARBORN, Mich. - DFCU Financial announced it will pay its members a special dividend of more than $17 million for the second straight year. Eligible members will receive a 0.5% dividend on their 2007 average loan and deposit balances, to be deposited in their accounts on Jan. 7. Every member will receive at least $50.

In the July 15 issue, CU Journal explored the advantages larger CUs have over their smaller brethren. In this series, the Journal focuses on thriving, small CUs.

SPRINGFIELD, Ore. - Can a credit union be expected to grow if it's unable to market to its primary membership?

NEWARK, N.J. - Jonathan Kaufman is quite sure that Newark Board of Education Employees Credit Union, of which he's CEO, does a good job serving its members, all of whom work for the Newark, N.J. school system.

MADISON, Wis. - Business development, net interest margin, and outstanding credit union lending programs are the focus of three new CUNA Council white papers.

TUKWILA, Wash. - When BECU implemented higher interest rates on some of its checking and savings products in the Autumn of 2006, the move was expected to cause a splash in its Seattle-area markets. What the credit union did not expect was that the new product offerings would soon be cited as an example for the entire credit union community to mimic.

SAN BERNARDINO, Calif. - In a hotly competitive California banking marketplace, Arrowhead Central Credit Union ranks number-one in 2006 return on assets (ROA) for credit unions with of more than $1-billion in assets, closing the year with an ROA of 1.73%.

Margins have remained tight again in 2007. There will be pressure on the cost of funds, and it will be a challenge for credit unions to increase spread significantly in the next six months.

WEST JORDAN, Utah - When Gordon Dames arrived as the new CEO of Mountain America in 1991, the credit union had ended 1990 with a loss of nearly $560,000 on less than $300 million in assets.

Rank Credit Union City State Loans ($000)

CU: Conservation Employees' CU

JEFFERSON CITY, Mo. - One may be the loneliest number, but it is the key to success at Conservation Employees' CU.

PUT CAPITAL TO WORK