Performance reports

ALBANY, N.Y.-Among the CDCUs that have performed well through the recession is Alternatives FCU here.

LOS ANGELES – Credit unions throughout the Golden State are reporting improved mid-year financials, with several erasing big losses of the past two years and other troubled institutions less red ink, even as the NCUA’s second quarter assessment for the corporate credit union bailout weighs them down.

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OREM, Utah – NCUA said this evening it has taken under conservatorship Family First FCU, a one-time $175 million credit union based here, as Utah has joined the list of Sand States housing troubled credit unions.

ALEXANDRIA, Va. – NCUA announced today it has reestablished an office of the chief economist for the first time in 18 years and hired John Worth, policy manager for the Federal Housing Finance Agency, the regulator for Fannie Mae and Freddie Mac, to head it.

CHICAGO-As an economist, Dave Colby is accustomed to being asked what potholes he foresees in the road ahead. Colby joked that with the economy being what it is, these days he has trouble seeing the road.

PLANO, Texas-Credit union executives' outlook on the nascent economic recovery remains static, with Southwest Corporate FCU's CEO Confidence Index second quarter results nearly identical to the first quarter.

CHICAGO-The Federal Reserve is projecting a slow, moderate economic recovery, and credit union economists see no reason to disagree.

LAS VEGAS-Credit Union Journal asked attendees at the recent 1 Credt Union Conference: How are the assessments affecting your credit union's operations?

ALEXANDRIA, Va. – Last month’s $1.1 million NCUA assessment, coming after last year’s $1.4 billion charge, is foiling a recovery for many credit unions, deepening losses for some and turning net income into losses many others.

CHICAGO — The NCUA Board would consider allowing the National Credit Union Share Insurance Fund (NCUSIF) to operate with an equity ratio slightly below 1.2%, but will not consider allowing that ratio to drop anywhere near the 1.1% range or even lower as some have proposed, according to NCUA Chairman Debbie Matz.

PLANO, Texas – Confidence among credit union CEOs remained low in the second quarter, according to Southwest Corporate FCU’s quarterly CEO Confidence Index.

SAN FRANCISCO-Some credit unions in the Golden State that reported substantial losses during 2009 have begun moving into the black in 2010. In Nevada, however, many continue to report negative earnings, but those losses are significantly smaller.

The role of capital in credit unions has evolved during the past century.

LAS VEGAS-At The Members Group's recent client conference, Credit Union Journal asked credit union executives if they were repricing products given the hits to income from the CARD Act, Reg E and the potential loss of debit interchange fees from the Durbin amendment to the bank bill, and whether all these changes could mean the end of free checking as we know it.

ORLANDO, Fla.-As any CEO or CFO knows, there are two basic means to improve the credit union's bottom line: increase revenues or decrease expenses.

SAN BERNARDINO, Calif.-NCUA, which took one-time $1.1 billion Arrowhead Central CU under conservatorship last month, last week terminated its long-time CEO Larry Sharp and three other top executives the agency had previously put on an unusual paid administrative leave after the regulatory takeover.

PANAMA CITY, Fla.-Having developed an expertise in managing expenses and building ROA, Tyndall FCU has launched a CUSO called "CU Next" that is currently serving approximately eight credit unions, many in California and Nevada, and ranging from $1.7-million in assets to $500 million.

ORLANDO, Fla.-Steve Ravin, EVP/CFO with Tyndall FCU, offered these additional thoughts about expense management during the League of Southern Credit Unions' annual meeting.

CU CFOs attending the CUNA CFO Council annual meeting here spent more than three hours sharing their own stories and participating in a Q&A related to mergers.