Performance reports

As president and CEO of the largest locally-based credit union here, $5.7-million San Diego County CU's Teresa Halleck said the biggest challenge is standing out in the crowd.

Although James Harris sees banks as the main competition for $742-million USE Credit Union, he acknowledges the nature of the hyper-competitive San Diego market means other CUs must also be reckoned with.

While credit unions in other citeis might object to San Diego claiming the title of most competitive market, there's little debate that a market home to eight credit unions of more than $1 billion in assets and 17 branches operated by Navy Federal can put a strain on cooperation.

NEW YORK -- Christ the Rock International, a 17-year-old, 400-member church in Brooklyn, filed for Chapter 11 bankruptcy Friday, the latest church borrower of California’s Evangelical Christian CU to file for bankruptcy.

WASHINGTON – The FDIC seized three more banks on Friday, one each in Florida, Georgia and Tennessee, making a total of 31 failures for the year.

BENNINGTON, Vt. -- Heritage Family CU has merged with the Central Vermont Public Service Employees CU, the one-time $20 million Rutland credit union that has reported losses for the past four years.

RENO, Nev. – Members of Sparks City Employees FCU approved the merger of their ailing one-time $16 million credit union into Great Basin FCU, the state’s eighth-largest credit union.

Credit unions need to get over their reluctance to segment accounts if they want to survive.

CFOs were urged to consider a new risk matrix model for examining threats to their organizations and to meet regulatory demands.

It's a simple problem with enormous consequences; yet similarly simple steps can resolve it. In this case, "it" is poor sales and service cultures within credit unions, along with the related issue of staff turnover.

Pen Air FCU lending is booming, its product menu continues to expand, even as it continues to cut expenses.

JetStream FCU has seen more than its fair share of turbulence.

NCUA last week released its first-ever quarterly U.S. Map Review, showing CUs in the Midwest and the Prairies are experiencing the strongest recovery, while states in the West and Mid-Atlantic are lagging.

Declining loan losses and continued cost-cutting sent net income at the nation's credit unions surging by 19% for the first quarter of the year to a record $2.1 billion, up from $1.7 billion for the same period last year.

Nader Moghaddam admits his first day on the job at Financial Partners Credit Union as CEO was nearly his last.

Credit unions may be not-for-profit, but they're still about making money.

WASHINGTON – The FDIC on Friday closed four more banks, bringing the number of failures to 28 so far this year.

RALEIGH, N.C. – Former directors of Greater Kinston CU are challenging the state’s February conservatorship of their $17 million community development credit union amid allegations of impropriety by the board members.

Two credit unions shared the kinds of recognition programs they use within their credit unions to motivate employees.

JACKSON, Mich.-Not surprisingly, CFOs expect their attention in the second half of the year will remain on squeezing what they can from investment portfolios.