Performance reports

Glatt Consulting last week said its "Credit Union Industry HealthScore" for Q1 2011 increased to 2.466, a 8.99% change from Q4 2010 and a 1.98% change from Q1 2010.

MADISON, Wis.-CUNA Mutual is now accepting entries for its 12th annual Excellence in Lending Awards, which recognizes outstanding lending results and practices by credit unions.

Two CUNA economists — Steve Rick and Mike Schenk — offered divergent views on a host of issues during a discussion at the CUNA CFO Council.

ALEXANDRIA, Va.-NCUA reported last week that credit union profitability rose to 74 basis points for the first quarter, up from 51 BPs in the fourth quarter of 2010, and the best performance in four years.

SANTA ROSA, Calif. – Redwood CU announced this afternoon it has completed a deal for nearby Cal State Central CU, eliminating another ailing California credit union.

ALEXANDRIA, Va. – NCUA said this morning that credit union profitability rose to 74 basis points for the first quarter, up from 51 bps in the fourth quarter of 2010, and the best performance in four years.

SAN DIEGO-While many professional groups and conferences saw their numbers suffer during the recession, David D'Annunzio is proud to note the CUNA CFO Council had the opposite experience.

SAN DIEGO-Chief financial officers at credit unions across the country say the biggest impediment to improved efficiency is the regulatory burden.

SAN DIEGO-Credit Union Journal asked attendees of the CUNA CFO Council conference here: Do you expect to be profitable in the second half of 2011? What will affect your credit union's bottom line the most, and why?

LAS VEGAS – Silver State Schools CU, the one-time $1 billion credit union struggling to stay afloat, said Monday it will cut employee pay by 2% starting in September to cut cost by $150,000 a year.

LAKE BLUFF, Ill.-In the near future credit unions will need to meet an 11% capital minimum to be considered well-capitalized, which could mean job reductions in excess of 50,000 and the end of the independent share insurance fund, according to one analyst.

LAS VEGAS-During the NACUSO Annual Conference here, Credit Union Journal asked attendees, "What impact is your CUSO(s) having on your bottom line, and will your CUSO be taking on a larger role?"

MADISON, Wis. – Credit union lending fell again in March for the ninth month in a row, as the nation’s credit unions continued to wait for the annual spring thaw on members’ checkbooks.

ARLINGTON, Va.-While data for Q1 2011 is not yet final, several experts are offering up some predictions for what those Q1 numbers will hold-including a potential new wave of retirements for credit union CEOs.

LAS VEGAS-Some of the largest credit unions that have been reporting considerable red ink posted improved numbers in Q1 2011.

SALT LAKE CITY – Virginia’s Chartway FCU continued to carve out a major footprint here last night when NCUA liquidated Utah Central CU and assigned the remnants of the one-time $190 million failure to the Virginia Beach credit union giant.

DULUTH, Ga. – ATM maker NCR Corp., fueled by a 6% rise in revenues, reported a $14 million net for the first quarter of 2011, compared to a $17 million loss for the same period last year.

ST. PAUL, Minn. – Deluxe Corp. reported a 2% drop in first quarter earnings, to $32.6 million, as the company’s core check printing business continued to decline.

HOUSTON – ATM operator Cardtronics reported first quarter net income yesterday of $6.5 million, up from $4 million for the same period last year, as revenues rose a healthy 8%.

LAS VEGAS – Silver State Schools CU, the nation’s largest privately insured credit union that has struggled with big losses the past two years, reported a slight profit of $90,000 yesterday for its fiscal first quarter.