CINCINNATI – Cards processor Vantiv reported a 26% rise in second quarter profits to $28.9 million, fueled by an 11% increase in revenue to $519.4 million.

SAN DIEGO – Mitek Systems, a provider of mobile banking technology, reported an increase in losses for its fiscal third quarter to $2.1 million, from $2 million last year, amid legal expenses for the company’s litigation with USAA over the patent to mobile deposit capture.

TAMPA, Fla. – Grow Financial FCU will open a new branch in Wesley Chapel that will feature interactive tellers.

ALEXANDRIA, Va. – In addition to announcing an eight basis point assessment for credit unions to fund the cost of the failed corporates, at its meeting yesterday the NCUA Board unveiled a new budget and discussed the status of several initiatives.

ALEXANDRIA, Va. – NCUA yesterday approved an expansion for San Francisco FCU that will allow the $830-million credit union, which serves San Francisco County, to serve 725,000 residents in San Mateo County to the south, also.

WASHINGTON – Mortgage rates declined again last week – continuing their up-and-down motion – amid recent strong homes sales data for June, according to Freddie Mac.

TUKWILA, Wash. – BECU, the nation’s third-largest credit union, reported a 53% surge in midyear earnings to $109.6 million, fueled by a slashing of provision for loan losses and a cut in cost of funds.

HIGHLANDS RANCH, Colo. – Fittingly, Red Rocks Credit Union has entered into a partnership with Denver-area concert venue Red Rocks Amphitheatre.

WASHINGTON – New analysis by Co-Ops for Change of the five failed corporates’ spreadsheets asserts that the NCUA Guaranteed Notes balance currently is over-reserved by $10 billion.

FOSTER CITY, Calif. – Visa Inc. reported a $1.2-billion net for its fiscal third quarter, compared to a $1.8-billion loss for the same period last year, which it said was related to the company’s $4.1-billion payment in the proposed antitrust settlement with merchants that Visa apparently was able to resolve.

NEWARK, N.J. – Four Russians and a Ukrainian were indicted on charges here this morning of running the biggest cards theft ring in history, which hacked into databases at dozens of the world’s biggest companies and siphoned more than $300 million from their customers’ bank and credit union accounts.

ALEXANDRIA, Va. – NCUA this morning set this year’s corporate bailout assessment at 8 basis points, or $700.9 million, a sign that the multi-year resolution program may be winding down.

DES MOINES -- A young member of Community Choice CU and his friend were arrested last night after a shopping spree at Merle Hay Mall after they allegedly picked up a bag containing $10,000 in cash that fell off an armored van leaving the downtown credit union yesterday morning.

WASHINGTON – Distressed homeowners are redefaulting in droves on loan modifications received through a government program, costing taxpayers billions and raising questions about the Treasury Department’s oversight of mortgage servicers.

SOUTH SIOUX CITY, Neb. – Siouxland FCU will take over a site that is being vacated by Home Federal Savings Bank at the Dunes General Store in Dakota Dunes.

SALT LAKE CITY – Deseret First FCU has deployed Alkami’s ORB digital banking solution.

MANCHESTER, N.H. – Bellwether Community CU has introduced eSignature, a technology that allows members to handle all the paperwork of a loan electronically.

WEST PALM BEACH, Fla. – The clock is ticking on nominations and entries for Credit Union Journal’s 2013 Best Practices Awards, as the deadline is July 31.

SAN DIEGO – San Diego County CU is giving away a VIP experience to One Direction, one of this summer’s hottest concerts.

BARTLESVILLE, Okla. – 66 FCU, the one-time credit union for Phillips Petroleum, has changed its name to “Truity” CU, which it said is a play on the words trust and integrity.