Performance reports

SAN JOSE, Calif. – National 1st CU said today it has agreed to acquire San Jose CU, creating a credit union with $340 million in assets.

PURCHASE, N.Y. – Fast-paced growth in debt continued to fuel MasterCard in the third quarter, with the cards network announcing this morning an 8% increase in net income for the period.

ALEXANDRIA, Va. – Lower cost of funds and growing loan income helped propel the nation’s biggest credit unions to huge third quarter gains, but the biggest stimulus may have been provided by NCUA in the lowest assessments in four years.

ATLANTA – Credit bureau Equifax said yesterday that third quarters grew 17% to $77.9 million, fueled by stronger revenue in its consumer-information business.

LAS VEGAS – Silver State Schools CU, the one-time billion-dollar credit union that is fighting through the state’s recession, said yesterday it had a $642,000 net for the third quarter, trimming its year-to-date losses to $1.6 million.

DEARBORN, Mich. – DFCU Financial, Michigan’s largest credit union, said this morning it plans to pay members a $21 million special patronage dividend, the biggest credit union payout ever.

DULUTH, Ga. – ATM maker NCR Corp. said that its third-quarter net income more than tripled to $58 million, as it benefited from acquisitions and strength across most of its businesses.

NEWARK, Del. – Student loan giant Sallie Mae reported a third quarter net of $188 million, compared to a loss for the same quarter last year, as it reduced operating expenses and set aside less money to cover bad loans.

ARLINGTON, Va.—The nation's three largest credit unions are among the top 100 cooperatives on National Cooperative Bank's annual Top 100 Co-op rankings.

LOS ANGELES—U.S. credit unions will continue to grow at a 3.1% average rate over each of the next five years, according to research compiled by IBISWorld.

The U.S. economic picture is gradually improving, but CUs must make their own recovery by finding clever ways to boost loans, as the nation's financial fortunes could still dip again.

Real estate loans, which had been a primary driver of credit union lending growth in the first half of 2012, have become something of a drag on CU loan portfolios, even as 2012 is on track to show overall lending growth.

ALEXANDRIA, Va. – NCUA said the total assets in CAMEL code 3, 4 and 5 credit unions fell by $10.7 billion during Q3 as the NCUSIF equity ratio rose to 1.32% as of Sept. 30.

LAS VEGAS – One Nevada Credit Union continues to show a robust turnaround.

COLUMBUS, Ohio – Loans are up for Ohio CUs, which experienced a 35% rise in loan originations from June 2011 to June 2012, according to the Ohio CU League.

MADISON, Wis. – 2012 likely will go down as the year when credit unions regained their financial footing and turned more of their attention to member financial well-being, according to CUNA Mutual Group.

ALEXANDRIA, Va. – NCUA reported Friday it approved another 24 mergers, 13 of which will eliminate troubled credit unions.

ALEXANDRIA, Va. – NCUA reported this morning it believes the manager of O.U.R. FCU, a Eugene, Ore., community development credit union that failed last year, deliberately manipulated the accounting and misstated financial reports to hide a capital hole of more than $2 million in the $5 million CDCU, prompting its NCUA takeover.

EAGLE BUTTE, S.D. – CR Community First, a tiny credit union serving the Cheyenne River Sioux Reservation and one of just two dozen credit unions chartered over the past five years, has been merged into giant Black Hills FCU, the state’s largest credit union.

Just as the economy has led many Americans to retool, adjust their skills, or seek a new career, the tough times have prompted NCUA to make some role changes as well-including becoming a better landlord.