Performance reports

LAS VEGAS – Last week’s disclosure by Silver State Schools CU of a big loss for 2009 serves as continuing evidence that Nevada still is in the throes of the recession and will take some time to pull out.

DALLAS- A federal bankruptcy court Monday awarded CU Liquidity Services LLC, a wholly owned CUSO of Texans CU, a $40 million verdict over a dispute concerning a multi-million member business loan the CUSO made to a troubled shopping mall in suburban Chicago.

PEORIA, Ill.-Despite absorbing a large California credit union failure in 2009, CEFCU, the state's second-largest CU, announced it will be paying members a $7-million dividend this year, up from last year's $6 million.

PASADENA, Calif. – Wescom Central CU, showing the worst effects of the Southern California real estate bust, reported a $93.6 million loss for 2009 on Friday.

SAN FRANCISCO – Patelco CU yesterday said it had net income of $15.2 million for the fourth quarter of 2009, trimming its losses to $14.6 million for the year.

KANSAS CITY, Mo. – CommunityAmerica said it distributed $500,000 to members last week as an Owner Participation Dividend.

ROCHESTER, N.Y.-There were many examples of credit unions reporting a strong net for 2009.

PEORIA, Ill.-Credit unions all over the country are braving the economic downturn and coping handily with the growing costs of the corporate credit union meltdown to post strong financials for 2009.

ALEXANDRIA, Va.-Thousands of credit unions are expected to report losses for last year in the coming days, the fallout from the continuing recession and from the deterioration of the corporate credit union network.

ALEXANDRIA, Va.-NCUA's reversal last year on accounting for the corporate bailout is causing havoc among credit unions as they report their fourth quarter financials and prepare their annual reports.

RICHARDSON, Texas – Hard times continued for Texans CU in 2009, especially in the $1.7 billion credit unions member business loan portfolio, helping push losses for the one-time Texas Instruments credit union to $51.2 million.

MINNEAPOLIS – Fair Isaac & Co., makers of the ubiquitous FICO credit score, said net income for its fiscal first quarter rose 46% to $17.7 million as some of its reorganization is starting to take effect.

LOS ANGELES – Credit unions in California, Nevada, Arizona and Florida continued to post big losses for the fourth quarter, even as some signs began to emerge that the economic slide had started to slow in the four so-called “Sand States.”

PEORIA, Ill. – Credit unions all over the country are braving the economic downturn and coping handily with the growing costs of the corporate credit union meltdown to post strong financials for 2009.

RALEIGH, N.C. – State Employees’ CU is lucky to keep its head above water in 2009 – a healthy 0.9% return-on-assets – even after writing down its membership shares in 11 different corporate credit unions.

ROCHESTER, N.Y. – ESL FCU delivered special owners’ dividends to 288,000 members last week, a total of $7.25 million.

ARLINGTON, Va.-NAFCU is concerned about the process NCUA follows when facilitating mergers, and is asking the regulator to provide greater transparency in its approach and with how it determines merger partners.

FOREST GROVE, Ore.-At Merger Solutions Group, which helps manage the merger process for credit unions and monitors the state of mergers within the industry, President David Bartoo suggested the current system is not broken.

GLENDALE, Calif.-Not everyone thinks NCUA is showing admirable restraint in the merger process.

TAMPA, Fla.-Transparency isn't always all it's cracked up to be, warned one credit union executive.