LENEXA, Kan. – U.S. Central FCU reported today that a $477 million loss for the fourth quarter and a $1.8 billion loss for the fiscal year erased all of its members' capital and is now eating away NCUA's $1 billion capital infusion of January 2009, with $331 million of that loan now gone.

WASHINGTON-A CUNA task force on corporate credit unions recommended last week that corporate credit unions cease being investment houses for natural person credit unions - the genesis of their financial problems - and restrict their activities in the investment markets to being pass-throughs or broker-dealers.

WASHINGTON-CUNA Mutual will report total adjusted capital of 2009 of approximately $1.24 billion, an increase of $114 million over 2008; a GAAP surplus of $1.599 billion, an increase of $395 million over 2008, and a risk-based capital ratio of 330%-340.

HONOLULU-The notion that membership in a credit union is restricted continues to haunt CUs well into an era of community charters and expanded FOMs - prompting one to take a direct approach to addressing the misconception.

Board Member Celebrates Centennial

LAS VEGAS-Spiders make their webs sticky to capture their next meal-CUs need to do the same thing with their websites.

LAS VEGAS-NAFCU Services has partnered with GeniusRocket.com, a Washington-based company that has a team of creative innovators that works for cash prizes, to create TV ads.

BOSTON-Celent, a financial research and consulting firm based here, said it foresees a triumvirate of technology priorities in 2010: risk management, cost reduction, and improving channel delivery.

LAS VEGAS — Credit Union Journal asked attendees of NAFCU's Technology & Security Conference what are the biggest technology and/or security issues-both positive and negative-for their credit unions.

March

WASHINGTON-CUNA didn't need to reach far for meaty topics to fill the agenda at its Governmental Affairs Conference (GAC) here last week. Relief from the Member Business Lending cap. Secondary capital. A host of new regulations. A proposed consumer protection agency. New NCUSIF premiums from NCUA. And none of that even included problems stemming from the corporate meltdown.

SAN DIEGO-The way John Tippets sees things, the economic situation can be summed up by three circles of decreasing size.

VIENNA, Va.-Navy FCU said it is providing mortgage and home equity loan options to its members with MDA MindBox's ARTOptimize. Navy Federal said it chose ARTOptimize for its strong decisioning capabilities, maintenance facilities and ease of integration into the CU's existing origination system.

ONTARIO, Calif.-Blue Oaks Analytics, provider of analytical tools and business intelligence solutions to the credit union industry, said it has changed its name to Lending Insights. A CUDL subsidiary, Lending Insights also unveiled an expanded line of product solutions designed to maximize return and manage risk, of a loan portfolio

MIDDLEBURY, Vt.-eDOC Innovations, a CUSO serving more than 400 credit unions nationally with its e-Document strategy solutions, announced two recent contract signings. Ohio Catholic FCU will implement an in-house paperless strategy utilizing eDOC's DocLogic Suite, while Aberdeen FCU will "Go Green" with imaging, document services.

WASHINGTON-CUNA announced last week it had a profitable 2009 - net income of $6.8 million - after two years of losses wiping out more than $13 million of reserves.

WASHINGTON-Regulators shuttered four banks recently in California, Illinois, Florida and Texas, making a total of 21 bank failures so far in 2010, following 140 failures last year.

CHICAGO-The Federal Home Loan Bank of Chicago, still struggling with large holdings of underwater mortgage-backed securities, said it expects to report a $65 million for 2009, down from a loss of $119 million for 2008.

RESTON, Va.-Sallie Mae, the largest provider of guaranteed student loans, said it endorses the Obama administration's proposal to eliminate all guaranteed student loans and the elimination of lender subsidies.

ATHENS, Ohio-Ohio University CU has launched a new Select Employee Group Ambassador Web Portal it expects will help the CU gain a stronger foothold within the community.