Performance reports

ST. PAUL, Minn. – Deluxe Corp. reported a 28% decline in net income, and a 3% drop in revenues for its third quarter, as its core checks business continued to erode.

NORTH CANTON, Ohio – Diebold reported a 9% drop in third quarter earnings yesterday, amid a 5% drop in revenues.

DULUTH, Ga. – Net income at NCR plummeted 84% for the third quarter to $16 million, despite strong revenue gains, as a result of several one-time expenses.

BIRMINGHAM, Ala. – NCUA yesterday took under conservatorship Birmingham Financial FCU, a troubled $1.3 million with just 429 members.

SAN BERNARDINO, Calif. – Arrowhead Central CU, the one-time $1 billion credit union being run by NCUA the past 15 months, has apparently turned the corner and is once again posting healthy financials.

ATLANTA – Equifax reported a 13% decline in third quarter net, even as revenues rose almost 4%, as the company spent $44 million on share repurchases during the quarter.

SAN FRANCISCO – Visa Inc. reported yesterday that fiscal fourth quarter net income surged 14% on the basis of a continued double-digit growth in debit.

ALEXANDRIA, Va. – Credit unions across the country are plunging into the red, trimming healthy net incomes or just staying above water as a result of NCUA’s corporate credit union assessment.

DES MOINES, Iowa-Credit unions comprise 30% of the firms listed in The Principal Financial Group's just-released "10 Best Companies for Employee Financial Security" for 2011.

RALEIGH, N.C. – As credit unions seek to grab a bigger share of deposits, State Employees’ CU has become the first credit union to publicly disclose its confidential financial condition as determined by regulators–its CAMEL code.

SAN BERNARDINO, Calif. – NCUA announced this afternoon it hired Darin Woinarowicz, the chief financial officer at Kern Schools FCU, as permanent CEO at Arrowhead Central CU, the one-time $1 billion credit union that has been under NCUA conservatorship since June 2010.

MADISON, Wis. – Executive compensation at credit unions has gone up with the improvement in credit union financial performance, as this year’s increases for executive comp were double last year’s, according to CU Executives Society.

ALEXANDRIA, Va. – Share growth among credit unions stagnated in the second quarter, growing by just 0.1%, while loans expanded a tepid 0.7%, NCUA reported this afternoon.Despite the sluggish loan growth, second quarter results represent a reversal of the three previous quarters of declining loan volumes.Still, return-on-assets, the industry’s key profitability indicator, increased to a strong 77 basis points, fueled by better cost controls and lower loan losses. The mid-year ROA is up slighly from the 74 bps for the first quarter, and the 51 bps for all of 2010.“The second quarter financials demonstrate the continued resilience of the credit union industry,” said NCUA Board Chairman Debbie Matz. “Specifically, I am pleased to see that net income has risen significantly since 2010, and that lending has grown for the first time in four quarters.Delinquencies remain near historically high levels, but they continue to trend downward. In the second quarter, credit unions reported a loan delinquency ratio of 1.58%, a 5 basis point improvement from the prior quarter. Similarly, the net charge-off ratio declined to 0.95% in the second quarter, a drop of 5 basis points from the end of March.Credit unions also reported 76,720 members filing bankruptcy in the second quarter, a 13% drop compared to first quarter filings. The percentage of loans charged off due to bankruptcy rose slightly to 24% through June 30, while the change in outstanding loans subject to bankruptcy dropped by 31% since the prior quarter-end.

AUGUSTA, Ga.-When CSRA Credit Union here merged with Atlanta's Associated CU in late 2009, it did not disappear.

LAS VEGAS – Silver State Schools Credit Union has released Q2 financials showing it lost $2.9 million during the second quarter, with a year-to-date net loss of $2.8 million.

RIVERSIDE, Calif.-Altura Credit Union, which has struggled with profitability, is reporting net income of $3.1 million on total assets of $693.6 million for the second quarter.

SAN FRANCISCO-GTE Federal Credit Union was on the brink of having to close its doors a year ago. But an influx of new talent and a change in focus has led the CU back to profitability.

HARTFORD, Conn. – State regulators on Wednesday issued a supervisory agreement directing The Greater Norwalk Area CU to resolve a big loan delinquency problem and to build its dwindling capital.

ATLANTA – Payments processing giant First Data Corp. reported this morning that debt service incurred in its 2007 takeover by private equity giant Kohlberg Kravis Roberts & Co., continues to keep it mired in the red, with second quarter losses increasing another 3% to $175.8 million.

SAN DIEGO – San Diego Metropolitan CU announced Friday it will close two branches effective Sept. 30, and lay off 12 employees as it tries to right itself from difficult times.