Performance reports

CHATSWORTH, Calif. – NCUA reported this afternoon that troubled Telesis Community CU had a loss of $13.6 million for the first quarter as its net worth deteriorated further from 4.6% at year-end 2011 to just 1.3% at March 31.

HARBOR, Ore. – NCUA said this afternoon that Chetco FCU, the one-time $375 million credit union it has been running under conservatorship since last September, lost a staggering $20 million in the first quarter, extinguishing all of its capital and undivided earnings.

YUMA, Ariz.– NCUA said this afternoon that AEA FCU, the one-time $410 million credit union which was victimized by a massive MBL fraud, continues to operate with zero capital, despite a $20 million emergency NCUA loan it is allowed to count as net worth.

ATLANTA – Processing giant First Data Corp. reported this morning its core businesses continue to grow but debt service left over from the $27 billion 2007 leveraged buyout by Kohlberg Kravis Roberts & Co. continued to generate huge losses.

MANHATTAN BEACH, Calif. – Kinecta FCU, the one-time $4.5 billion credit union that has struggled through the state’s recession, reported a $10.1 million net this morning for the first quarter, after a $30.6 million loss for 2011—the latest California giant to return to profitability.

PASADENA, Calif. – Two more once-ailing credit union giants, Wescom Central CU and Arizona FCU, are reporting strong financials again after rebuilding their net worth to healthy levels.

LAS VEGAS – Troubled Silver State Schools CU said this afternoon it lost another $3.5 million for the first quarter, erasing all of its remaining net worth and leaving it only with the emergency assistance provided by its private deposit insurer ASI.

Credit unions across the country are reporting robust financials for the first quarter, as much of their bad loans have been eliminated from their books and costs have been trimmed over the past three years.

SAN BERNARDINO, Calif. – Arrowhead Central CU, the one-time $1.1 billion credit union that teetered near failure when it was taken over by regulators two years ago, reported strong first quarter earnings and a return to the well-capitalized level, NCUA said this morning.

ALEXANDRIA, Va. – Credit unions across the country are reporting robust financials for the first quarter as much of their bad loans have been eliminated from their books and costs trimmed over the past three years.

Loan growth is hardly keeping pace with surging membership growth through the first two months of 2012, according to an analysis released last week by CUNA Mutual.

San Diego Medical Federal Credit Union has been ranked No. 1 among all CUs nationwide for Average Investment Yield for nine consecutive quarters, but according to CEO Paul Lewis, being on top is not the goal.

RICHARDSON, Texas – NCUA announced this morning that Texans CU, the one-time $2 billion credit union it has operated under conservatorship the past year, reported a $5.9 million net for the first quarter of the year, even as the biggest NCUA conservatorship ever continues with negative net equity of $40 million.

ALEXANDRIA, Va. – NCUA said Friday it approved another 21 credit union mergers, more than half of which will erase ailing credit unions.

DULUTH, Ga. – ATM maker NCR reported a more than doubling in first quarter earnings yesterday, to $29 million, amid an 18% rise in revenues.

ALEXANDRIA, Va. – NCUA reported Friday it approved 19 more mergers, half of which include an ailing credit unions being merged into a healthy one.

Credit unions in the United States have surpassed a singificant milestone, and now have more than $1 trillion in total assets.

SAN ANSELMO, Calif. — The downward trend in deposit rates that began five years ago may be reversing course, according to one new analysis by Market Rates Insight.

Although the easy answer seems to be $318-million Telesis Community Credit Union was taken into conservatorship by the California Department of Financial Institutions due to its extensive member business lending activities, other circumstances also were involved.

WYOMISSING, Penn. – Utilities Employees CU, which bills itself as a “virtual” credit union because the majority of its transactions are conducted online, has hit the $1-billion mark in assets.