ALEXANDRIA, Va. - Loan losses grew 34% at credit unions in the first quarter, while mortgage delinquencies continued to increase, portending continued troubles further into the year, according to NCUA.

Events

ALEXANDRIA, Va. - The Association of Military Banks of America has joined defense credit unions in asking the Department of Defense to terminate an on-base credit card program awarded to JPMorgan Chase.

LOS ANGELES - State Senate Majority Leader Gloria Romero became a member of E1 Financial CU at its new branch in her home area of East Los Angeles to help celebrate the credit union’s new initiative in this low-income community.

Greylock FCU, Pittsfield, Mass., named Michael A. Fazio senior vice president financial planning and investment services and Anthony Clement was promoted to vice president.

TUCSON, Ariz. - Hughes FCU opened a new headquarters here and a seventh branch in it. All seven branches are about to add Saturday hours.

BROOKLYN, N.Y. - Federal officials presented a check for $394,000 to Brooklyn Cooperative FCU officials to help mark the community development credit union’s newest branch, in the low-income Bedford-Stuyvesant neighborhood.

SAN DIEGO - Is your credit union prepared for the “Scissors Economy,” or are you about to be cut out by consumers who seek to slice costs by serving themselves?

SAGINAW, Mich. - Catholic FCU said it granted $129,200 in scholarships to 286 area college students who are members of the credit union through their annual Monsignor Forbes Scholarship Fund–one of the largest credit union scholarship programs.

GREENWOOD VILLAGE, Colo. - The second half of 2008 should look much like the first half when it comes to mergers among credit unions. What’s important at any time, one company is reminding, is that when a merger calls for a name change, the credit unions need to be careful about giving up existing brand equity and ensuring the new name means something to members and the community.

SAN DIEGO - The American real estate market has been in a recession for two years, but at least one economist believes it may be near bottom–which should allow the overall economy to recover by the end of this year.

LOUISVILLE, Ky. - Marketing is often among the first cuts when the economy is slow, yet most CUs aren’t looking to slash marketing budgets this year, according to a quick survey from one digital signage company.

NORRISTOWN, Penn. - Spending marketing dollars wisely will be a must in an ongoing tight economy that has banks moving in on credit unions’ checking account business, cautions one national CU marketing firm.

MINNEAPOLIS, Minn. - Credit union performance during the second half of the year will depend on how well the industry addresses a familiar challenge–growth, says one technology provider that is emphasizing the effort really starts as soon as the member signs up.

LOMBARD, Ill. - A slumping economy will eventually recover, perhaps even in the second half of this year, but pressures on margins will continue in 2008 or 2009 and beyond for that matter, according to one analyst.

FRANKLIN, Tenn. - A tough economy makes promoting identity theft solutions a smart strategy, especially during the remainder of 2008, according to Affinion Group here.

SAN ANTONIO - Delivering additional products to members can be easier during the kind of weak economy expected during the remainder of 2008, contends Harland Clarke here, which is further predicting members will be very receptive to CU messages in the second half of the year.

ENGLEWOOD, Colo. - The search for additional ways of generating non-interest income has more credit unions turning to instant-issue debit cards this year, reports Dynamic Card Solutions, which expects the slow economy to continue the trend in the second half of 2008.

TALLAHASSEE, Fla. - When it comes to forecasting the second half of 2008, it helps to have some “Radar.”

SAN DIMAS, Calif. - Rising gas prices may be contributing to a significant increase in shared branch transactions, reports Financial Service Centers Cooperative, which is recommending increasing shared branch promotion to the CUs it serves.