Performance reports

ALEXANDRIA, Va. – Credit unions added 800,000 new members in the first quarter of the year, the best quarter ever for membership growth, NCUA said this afternoon.

LOS ANGELES – NuVision FCU will acquire two additional branches with the merger of ailing Pacific Resource CU, one of four California mergers approved by regulators in recent weeks.

Credit unions are being urged to implement a four-step process that will help avoid conflicts with examiners when it comes to allowance for loan and lease losses.

Bigger isn't always better and can lead to problems for a credit union, analysts and credit union CEOs are cautioning.

A credit union can be the most efficient organization in the industry, but if it is not effective, it won't grow. That is the stance of Randy Karnes, CEO of CU*Answers.

Mark Shobe, the CEO of $3.5-billion DFCU Financial, takes pride in running an efficient credit union, and knows that as it grows it must keep a tight focus on its strengths while avoiding the bureaucracy and red tape that can take root.

IOWA CITY, Iowa-Jeff Disterhoft, the CEO of the $2-billion University of Iowa Community CU, believes the industry is paying attention to efficient growth.

Credit unions are showing a "healthy'"5.2% annual growth in lending, according to a new analysis of Q1 data by CUNA Mutual Group's Trends Report.

CINCINNATI – Fifth Third Bancorp said this morning it expects to record a pre-tax gain of as much as $225 million (around $145 million after-tax) in the second quarter of 2013 from the sale of some of it stake in Vantiv, but will continue to hold $1.3 billion worth of stock in the card processor it took public a year ago.

Credit unions around the country are once again reporting big gains in the first quarter, many of them benefiting from excess loan loss reserves that remain from the financial crisis that they are sending straight to their bottom lines, according to Financial Performance Reports submitted to NCUA.

It's no secret that consolidation in credit unions is occurring primarily among those below $50 million in assets. Those that wish to not just remain standing but growing will be best served by identifying specific markets for lending, and then pricing those loans just right.

Small CUs may not be able to compete with larger institutions that are "lending machines," but they can be smarter about how they use their information, according to one person.

LYNCHBURG, Va. – NCUA said this evening it shuttered $14 million Lynrocten FCU here, the year’s sixth credit union failure.

NAPLES, Fla. – ACI Worldwide, which has emerged as one of the leading service providers for credit unions, reported this morning that losses widened to $2.2 million for its first quarter, from $1.8 million a year ago, because of costs related to its recent acquisitions of Online Resources Corp. and S1 Corp.

HOUSTON—About 7,300 members of El Paso Corp FCU, which was forced into a merger because of the last year’s takeover of its corporate sponsor, will share in a $9.5 million merger dividend after the combination of the $125 million credit union with First Service CU.

RICHARDSON, Texas –NCUA reported today Texans CU had first quarter net income of $5.2 million, but even with five straight quarters of profitability the one-time $2 billion credit union run by NCUA the past two years still has a $15 million hole.

LAS VEGAS – Troubled Silver State Schools CU reported a $1.2 million net for the first quarter today, compared to a $3.5 million loss for the first quarter last year, even as it expended all of its own reserves.

ALEXANDRIA, Va. – Credit unions around the country are once again reporting big gains in the first quarter, many of them benefiting from excess loan loss reserves still overhanging from the financial crisis which they are sending straight to their bottom lines, according to Financial Performance Reports submitted to NCUA this week.

VIENNA, Va. – Navy FCU reported a record $218.2 million first quarter net income this morning, up 29% from last year’s first quarter, as the world’s biggest credit union continued to land record mortgages.

Credit unions are seeing strong loan demand, especially auto loans, as well as steady growth in membership, deposits and capital, according to CUNA Mutual Group's most recent "Credit Union Trends Report."