Performance reports

LAKE BLUFF, Ill. – New requirements that credit unions and banks receive permission from customers to sign them up for overdraft protection for their checking accounts proved to be a positive–not a negative–with credit unions expanding their overdraft protection business as a result.

SAN BERNARDINO, Calif. – In a desperate attempt to trim operating expenses, ailing Arrowhead Central CU, run under NCUA conservatorship since June, announced this morning it is closing eight more branches by year-end, atop of the four branches sold this summer to Alaska USA FCU.

CUs Stagnated In Third Quarter

ANAHEIM, Calif.-The concerns credit unions had in 2005 would be welcomed today, according to Diana Dykstra.

MADISON, Wis.-A "disturbing trend" in CU lending is just one fallout from the recession and slow recovery, according to a new report.

William Haraf, commissioner of the California Department of Financial Institutions, predicted charge-off rates at credit unions and banks will continue at an elevated rate through 2013 or even 2014.

WASHINGTON – Regulators shuttered three more banks Friday, making a total of 149 bank failures for 2010.

ALEXANDRIA, Va. – The NCUA Board, facing growing losses from failed credit unions, agreed yesterday to launch a pilot program aimed at inducing healthy credit unions to acquire sick institutions by sharing future losses on the sick credit unions with the acquirers.

ALEXANDRIA, Va. – NCUA is working with the U.S. Justice Department on fraud investigations surrounding as many as a dozen credit union failures since the start of 2009, as the costs of failures continues to take a growing toll on the National CU Share Insurance Fund.

SAN DIEGO – Mitek Systems, fresh off some major wins for its mobile technology, announced yesterday it broke into the black for its fiscal fourth quarter to the tune of a $180,000 net, compared to a $328,000 loss for the fourth quarter last year.

RIVERSIDE, Calif.-Altura Credit Union continued funding its Allowance for Loan Losses in the third quarter, but with defaults trending down it is now counting on the conservative approach to pay off in 2011.

Virtually every CEO Credit Union Journal spoke with for this special report reported weak loan demand. When discussing their local marketplace conditions, most expressed relief that the worst appeared to be over, but there was little optimism for improvement any time soon.

ONTARIO, Calif.-While cautioning that he had not yet had the opportunity to review all third quarter Call Report data in detail, the California and Nevada's Daniel Penrod said the likelihood is Q3 numbers for credit unions in the two states will be "muted."

LAS VEGAS-As is the case with many credit unions across the country, posting lower losses in the third quarter of this year over previous quarters was not a reason to celebrate, but for Clark County CU, it was still worth noting.

SACRAMENTO, Calif.-With loan demand and consumer spending both down, The Golden 1 is looking for alternative sources of income, including investments.

RENO, Nev.-Defaults have begun declining at Great Basin FCU, which is allowing it to enjoy "modest profitability."

LAS VEGAS-Brad Beal, CEO of $693-million Nevada FCU, knows this market will pick up when the consumers visiting this vacation spot feel comfortable spending more money. The problem? "No one knows when that will happen," he said.

NORTH HIGHLANDS, Calif.-Despite continuing sluggishness in the housing market and high unemployment in greater Sacramento, SAFE CU CEO Henry Wirz is projecting black numbers in 2010.

SAFE Credit Union has been able to expand in several areas as it has fought back against the recession, according to its CEO, Henry Wirz. Here are some of the initiatives that have worked well in 2010.

SAN DIEGO-When Teresa Halleck moved from being president and CEO of $7.2-billion The Golden 1 in Sacramento, Calif., to $4.9-billion San Diego County CU, it could have been said she was moving out of the frying pan and into the fire.