Performance reports

HOUSTON-The future is bright for Light Commerce Credit Union, according to its CEO, Harlene Johnson, noting the CU is looking to add members this year by leveraging its relationship with its sponsor.

HOUSTON-This south Texas city was able to dodge most of the effects of the recession until last fall, when a construction slowdown affected members of Union Fidelity FCU, and the CU swung into action, according to CEO Cindy Hester.

WASHINGTON-CEOs polled by Credit Union Journal have primarily expressed support but also some mild irritation with NCUA's plan to dial back its regulatory flexibility (Reg Flex) program. But not all agree.

RALEIGH, N.C.-Success may be too much for some large credit unions, which are looking at drawing in the reins a bit because of the negative affects growth is having on their regulatory capital.

BIRMINGHAM, Ala.-Economic conditions and credit union balance sheets have changed dramatically since Dennis Dollar was chairman of NCUA. But Dollar doesn't believe conditions warrant NCUA's plan to broadly rein in the "Reg Flex" program he put in place while at the agency.

BIRMINGHAM, Ala.-Picture a world where a credit union needs to get permission from NCUA to buy a copier. That's just one of the very real potential consequences of NCUA's proposal to rein in Reg Flex, according to Dennis Dollar, the CU consultant who penned the original Reg Flex program when he was NCUA chairman in 2002.

ALEXANDRIA, Va.-With losses growing among credit unions, the NCUA Board last week proposed reining in its popular regulatory flexibility program, known as Reg-Flex, which eases restrictions on healthy, well-run credit unions.

PROVO, Utah-CUData.com has released an analysis of how year-end 2009 compares with five prior year-end financials.

PALO ALTO, Calif.-In the biggest credit union merger ever, Addison Avenue FCU and First Tech CU in Beaverton, Ore., announced last week plans to combine to create a credit union with almost $5 billion in assets.

WASHINGTON-America's CUs should cross the threshold of $1 trillion in total assets sometime in 2011, following growth across the board in 2009, according to a new analysis.

WILMINGTON, Calif.-The struggles of the worldwide economy can be seen quite clearly in the sharp drop in container traffic here at America's busiest port-a downturn that has been a big part of a deep malaise that hit California harder than most states.

NEW YORK-The economy recovery will be tepid throughout 2010, leading to sustained high unemployment and low interest rates in the foreseeable future, according to one analyst.

SAN DIEGO-The way John Tippets sees things, the economic situation can be summed up by three circles of decreasing size.

At first blush the $14-million in losses recorded by Patelco Credit Union during 2009 seem nothing more than another indicator of what a tough year it was. Yet in Q4 2009, the $3.7-billion Patelco booked net income gains for all three months.

SAN FRANCISCO-Some of the other measures Patelco has undertaken to fix its balance sheet have included ...

CHICAGO – The Federal Home Loan Bank of Chicago, still struggling with large holdings of underwater mortgage-backed securities, said it expects to report a $65 million for 2009, down from a loss of $119 million for 2008.

MADISON, Wis. – CUNA Mutual Group is hailing a return to the black for 2009, to the tune of $50 million, after a $150 million loss for 2008.

DETROIT-When Hank Hubbard walks the streets of inner-city Detroit, the CEO of Communicating Arts Credit Union doesn't see all the mom-and-pop businesses that used to line the sidewalks. In their place are often vacant, boarded-up buildings in a town struggling to get back on its feet. And yet Hubbard remains an optimist.

DETROIT-It was once a city that rolled out new credit union charters almost as quickly as the automobiles that made it famous.

ORLANDO, Fla.-Despite a housing market that has been depressed for three years and unemployment surging close to 12% across the Sunshine State, FAIRWINDS CU here had a surprisingly strong 2009.