Performance reports

MIAMI – South Florida Educational FCU has paid a special Shared Earnings Dividend of $2 million to its members.

ARLINGTON, Va. – While credit union performance metrics in June showed improvement in several categories, lending slowed, according to NAFCU’s Economic & CU Issues Monitor.

Both Fannie Mae and Freddie Mac last week reported strong profits for the second quarter of 2012, indicating the worst of the real estate crisis may be over.

TEMPERANCE, Mich. – NCUA and the Michigan Office of Financial Insurance Regulation yesterday closed United Catholic CU, which had $300,000 in assets and 200 members.

GREENBELT, Md. – Educational Systems FCU is assessing members of Montgomery County Teachers FCU an unusual one-time $35 fee to help defray the costs of absorbing the troubled $400 million Rockville, Md., credit union.

SACRAMENTO, Calif. – State regulators approved the mergers of five more troubled credit unions yesterday, including two by Credit Union of Southern California, the $600 million Brea credit union’s third merger of the past few months.

PHILADELPHIA – The president of a small community development credit union was charged this afternoon with embezzling $2.3 million from the institution, which led to last year’s failure.

WALL STREET – Vantiv, the cards processor for 800 credit unions, said Advent International, the Boston money firm that took the company public this spring, plans to cash out some of its stock at an estimated $60 million profit.

Research released last week shows credit unions were outpacing banks in deposits long before 2011's Bank Transfer Day drew attention to the issue.

CINCINNATI – Payments processor Vantiv, spun off from Fifth Third Bancorp in March, reported a quadrupling in second quarter earnings to $20 million as it processed more card transactions.

CHANTILLY, Va. – Back-office service provider Online Resources Corp. reported an $800,000 loss for its second quarter, down from a $2.4 million loss last year, as revenues rose by 5%.

MADISON, Wis. – Another $7.2 billion in new deposits flowed into credit unions in June, putting 2012 on pace for the greatest inflow of funds into credit unions ever, according to CUNA.

PLYMOUTH, Minn. – NCUA announced this morning it has awarded the remnants of A M Community CU, a failed $135 million Kenosha, Wis., credit union, to TruStone Financial FCU under a purchase and assumption agreement.

The Golden 1 Credit Union said its midyear numbers show ROA has grown to 1.1% and capital now stands at 10.56%.

One Nevada Credit Union reported $590,000 in net income for the first six months of 2012, and a net worth ratio of 9.25%, as the Silver State's economy continues to improve slowly.

LAS VEGAS – Silver State Schools CU, the troubled one-time $1 billion credit union, reported a second quarter net of $1.2 million, but still had a loss of $2.3 million for the first six months of the year.

ALEXANDRIA, Va. – NCUA said this afternoon it has taken over Trinity CU, a troubled $4 million credit union in Trinidad, Colo.

WASHINGTON -- Regulators closed two small banks in Georgia and one each in Florida, Kansas and Illinois on Friday, making 38 bank failures so far in 2012.

RICHARDSON, Texas – Texans CU, the one-time $2 billion credit union run under NCUA conservatorship for the past year, reported an $11.7 million net for the first six months of 2012, as NCUA was able to slash its provision for loan losses by 93%, to just $1.3 million.

LAS VEGAS – One Nevada CU, the state’s largest credit union, reported net income of $590,051 for the first six months of the year, compared to a loss of $2.3 million for the first half of 2011.