Performance reports

WASHINGTON – Even as they trash the credit union tax exemption on Capitol Hill, more and more banks are opting for their own tax-exempt charter under the designation of a closely held Subchapter S corporation, enabling them to claim a tax exemption roughly equivalent to that for all of the nation’s 7,200 credit unions.

ALEXANDRIA, Va. – NCUA announced it banned James Talbert, director at D.C. Government Employees FCU, from the credit union industry for disclosing publicly the credit union’s CAMEL rating last year after its president and CEO Carla Decker was nominated to serve on the NCUA Board.

RIVERSIDE, Calif. – Altura CU, in the midst of a financial turnaround, is reopening a branch in Murrieta, one of four closed last year to help the troubled credit union slash expenses.

CHARLOTTE, N.C. – NCUA liquidated tiny Shepherd’s FCU, a year-old community development credit union, this morning in the latest sign of the difficulties facing small credit unions.

The size of the "small cash" market is great, which bodes well for the potential of overdraft revenue. But other forces at work and just over the horizon may limit, if not severely reduce, the overdraft market for banks and credit unions.

DENVER – In what is believed to be the biggest compensation deals ever paid a credit union executive, Public Service CU reported it paid its CEO David Maus a compensation package of $11 million when he retired in 2010, after 30 years heading the credit union.

CHATSWORTH, Calif. -- The California Department of Financial Institutions took over Telesis Community CU, the one-time $625 million credit union with one of the biggest member business loan portfolios in the country, Friday night and appointed NCUA as conservator.

Even with last year's modest 1.2% loan growth rate pushing the loans-to-assets ratio down to 59.4%, credit unions were able to generate a 40% increase in net income over 2010.

Problems in strategic planning at credit unions often begin at the top, and then are compounded as they are filtered to the rest of the organization, if they filter down at all.

The National Credit Union Share Insurance Fund ended 2011 with an equity ratio of 1.30% after the year-end transfer from the NCUSIF to the Stabilization Fund, according to data released last week by NCUA.

Credit unions can prevent, or at least limit, losses due to robberies and wire transfer fraud by implementing a few simple procedures.

One of the credit unions hit hardest in the country by the recession and real estate collapse, Silver State Schools, has a "long road" ahead ot it, but its CEO believes it will recover.

Consultant Michael Hudson suggests how people should share their ideas and brainstorm at their next management or board meeting.

Consultant Michael Hudson offered this "five point prescription" for making strategy work at the credit union.

Credit union CEOs are much more optimistic about the economic environment today than they were one year ago.

Banks and thrifts posted strong earnings for Q4 2011, according to new data from the FDIC.

General Motors employees are set to begin receiving bonuses of up to $7,000 each as a result of the auto giant's recent profitability.

Fueled by higher bank fees and the Bank Transfer Day movement, credit unions scored some of their biggest membership gains ever in the second half of 2011.

MANHATTAN BEACH, Calif. – Credit union giants Kinecta FCU and NuVision FCU have called off their proposed combination, which would have been the second biggest credit union merger ever, creating a $4.4 billion credit union.

A focus on cross-selling has helped Community Credit Union here move from negative loan growth in 2010 (-1.5%) to 4.5% in 2011.