Performance reports

ALEXANDRIA, Va.-Increasing numbers of credit unions are choosing to cope with NCUA's assessments by pushing down their asset size, instead of growing, in order to maintain their critical net worth ratios.

SAN BERNARDINO, Calif. – NCUA this evening put into conservatorship troubled Arrowhead Central CU, the one-time $1.1 billion credit union which has seen its capital dwindle amid large losses the last few years.

ALEXANDRIA, Va. – NCUA reported yesterday it approved another 20 credit union mergers, 12 of the involving troubled credit unions.

WASHINGTON – The credit union lobby this afternoon rejected a proposed deal on the controversial interchange fee amendment to the bank bill, just as congressional leaders are preparing to meet tomorrow to hammer out final language on the provision.

WASHINGTON-For the first time in history, credit unions in the U.S. have reached the 10% mark in terms of share of retail consumer deposits.

FT. LAUDERDALE, Fla.-Credit unions scrambling to fill the income void being created by the CARD Act's limits on overdraft fees should look to deposit-based payment products, according to one analyst.

BEAVERTON, Ore.-As First Tech Credit Union awaits regulatory approval for its proposed merger with California-based Addison Avenue FCU, what may turn out to be its final year of operations is being marked solid numbers in a very difficult economy.

BEAVERTON, Ore. - The management teams at Addison Avenue FCU in Palo Alto, Calif., and First Tech CU here continue to move forward with plans to merge and create an institution with assets of $4.6 billion, 38 branches and 320,000 members nationwide.

GARDEN CITY PARK, N.Y. – NCUA said today it issued a supervisory order directing Sperry Associates FCU here, one of the biggest victims in the $140 million U.S. Mortgage/CU National Mortgage swindle and a major investor in loan participation pools, to boost capital and take other steps to return it to financial health.

EU CLAIRE, Wis. -- NCUA this morning cleared an agreement by Royal CU to buy 11 branches from the troubled Anchor Bank, the biggest deal of its kind to date.

SALT LAKE CITY – Utah First CU filed suit in federal court seeking to compel its insurer, Federal Insurance Co., to reimburse it $1.7 million for a check kiting scheme perpetrated by one if its members last year.

ORANGE, Texas – NCUA and state regulators shut down and closed Orange County Employees CU this morning, the one-time $4 million institution being the 13th credit union failure in 2010.

ALEXANDRIA, Va.-Federally insured CUs reported $1.1 billion in net income and an ROA average of 0.47% during the first quarter of 2010, according to NCUA.

ALEXANDRIA, Va. – NCUA reported this morning that the continued economic slowdown pushed lending at the nation’s credit unions down almost 5% for the first quarter, one of the worst quarters for lending on record.

WASHINGTON-Despite a slowdown in overall loan growth, credit union earnings are up in 2010 according to Callahan & Associates Q1 FirstLook data.

NEW ORLEANS-To get a sense of how balance sheet demands have changed for credit unions one need travel no further than the CFO Council's annual meeting here last week.

WEST PALM BEACH, Fla. – Credit Union Journal is now accepting nominations for its 2010 Best Practices Awards.

NEW ORLEANS-CFOs tackled a variety of issues at the CUNA CFO Council Summit.

ALEXANDRIA, Va. — NCUA had more bad news for credit unions this morning, announcing it has added eight more credit unions to its troubled list and set aside an additional $170 million to cover losses at natural person credit unions.

DALLAS-CUs must pay close attention to "funding cost control" and make sure the assumptions they place into the ALM model are accurate.