Performance reports

The Coalition for Credit Union Access, a group of credit unions that is advocating for access to supplemental capital, last week released a new infographic aimed at showing how such access would spur economic growth.

NEW YORK – A video billboard touting the credit union difference was unveiled for millions of viewers in Times Square this morning and will run through CUNA’s annual America’s Credit Union Conference, being held in New York City June 30 through July 3.

ALEXANDRIA, Va. – NCUA shuttered tiny Shiloh of Alexandria FCU this evening, the fifth credit union failure of the year.

RANCHO CUCAMONGA, Calif. – CO-OP Financial Services announced this morning it is paying its members a $25.9 million patronage dividend this year, up 73% from last year’s $15 million, as transaction volume soared on the credit union-owned payments networ

FAIRFAX, Va. – Apple FCU, the former teachers credit union that has become one of the biggest local credit unions in suburban Washington, D.C., announced this morning it is acquiring nearby Vantria FCU, a one-time $84-million credit union that has been adversely affected by the real estate market.

An increasing reliance on fees and other revenues from its member business loan portfolio sent Telesis Community CU spiraling toward insolvency as a growing number of the one-time $615-million credit union's MBLs went sour, according to a report issued last week by NCUA's Office of Inspector General.

ALEXANDRIA, Va. – An increasing reliance on fees and other revenues from its member business loan portfolio sent Telesis Community CU spiraling toward insolvency, accelerating as a growing number of the one-time $615-million credit union’s MBLs went sour, a new report issued this afternoon by NCUA’s Office of Inspector General says.

HOUSTON – InvesTex CU has agreed to acquire StarTrust FCU, the troubled former Enron Corp. credit union, accelerating the consolidation of credit unions in the Houston market.

MIAMI – In a ruling with enormous ramifications for Wall Street, a federal court here yesterday dismissed a fraud suit brought by Space Coast CU against several Wall Street banks and ratings agencies over $150 million of risky investments known as collateralized debt obligations—or CDOs—they sold to Eastern Financial Florida CU, the huge Florida credit union that failed in 2009 and was subsequently acquired by Space Coast.

American workers' financial fortunes have improved since the worst days of the recession, but 2012 saw some employees backsliding, and retirement saving remains a struggle.

ALEXANDRIA, Va. – NCUA said this afternoon it shuttered California’s tiny Pepsi Cola FCU, the second California credit union failure of the day and fourth failure overall for 2013.

ALEXANDRIA, Va. – NCUA said this morning it shuttered I.C.E. FCU, a $3.4 million Inglewood, Calif., credit union and the third failure of 2013.

Fourth-quarter 2012 data for credit unions shows an increase in both loans and deposits at credit unions, with lending strongest in North Dakota and Oklahoma and weakest in Nevada.

The business model for many small credit unions appears to be changing-by necessity-with at least one CEO saying it's now fee income supporting the loan process.

In taking on the low-income credit union designation (LICU), Cathie Mahon cautions CUs to avoid some common misperceptions about low-income consumers-that they are without means and are not technologically savvy.

A list of the top 200 credit unions by assets.

NAPLES, Fla. – ACI Worldwide, which acquired S1 Corp. last year, announced this morning it has completed the acquisition of Online Resources Corp., the provider of payments services to of 1,000 credit unions, banks, billers, credit card issuers, and other credit and payment service providers, for $126.6 million in cash.

TAMPA, Fla. -- Card Services for CUs is offering credit union members the ability to capture data on every Visa credit and debit card transaction made with VisaVue Online, a web-based tool that offers a variety of options for analyzing credit and debit cardholder usage.

Consumers banking with credit unions are more confident in the current economy year-over-year, according to data from the Discover U.S. Spending Monitor.

All of the discussion, debate and threats surrounding the federal sequestration and potential cuts to agencies and personnel had credit unions scrambling to make tentative plans to respond last week.