Performance reports

ARLINGTON, Va. – NAFCU is expected to report another strong year for 2009, with net income around $200,000, when it issues its financial report in the next few weeks.

ALEXANDRIA, Va. – As it puts the final touches on its 2009 financial audit, NCUA is still struggling to finalize the books for 2008 – 13 months after the end of the fiscal year.

WASHINGTON – Regulators shut three more banks Friday, including $900 million Barnes Bank of Kaysville, Utah.

DALLAS-CEOs have not felt so glum about their credit unions' finances and the economy, according to results of Southwest Corporate Federal Credit Union's fourth quarter 2009 CU CEO Confidence Survey, which sunk to a new low.

STRONGSVILLE, Ohio-Three credit unions that in recent years moved to American Share Insurance (ASI) for deposit insurance said they have no regrets, despite the recent 15-basis point premium assessment ASI has made.

DURHAM, N.C.-Self-Help Credit Union has absorbed another troubled credit union via merger, its third in as many weeks, as it continues to expand in both its home state and in California.

AUSTIN, Texas-The $500-million Velocity CU here is the latest to make the switch to American Share Insurance, with its members approving the move.

DENTON, Texas – DATCU CU said it paid its members a bonus dividend of 1% for the fourth quarter, amounting to a $293,000 special payout.

The arrival of 2010 means it's six months and counting until credit unions must comply with a July 1 deadline for compliance with Regulation E rules and overdraft protection.

LIVE OAK, Texas-Randolph-Brooks FCU is using the same process improvement strategies to beat competing financials that the Japanese used to gain market share on the Big Three automakers.

LIVE OAK, Texas-Years ago Randolph-Brooks FCU rerolled calculator tapes and used the other side. While that old savings trick is nearly as obsolete as the machines themselves, the simple philosophy of not wasting resources runs deep through the $3.6-billion credit union and is fueling its record expansion.

LIVE OAK, Texas-Randolph-Brooks FCU has numerous cost-reduction efforts underway. Here are a few that have significantly contributed to the millions the CU has shaved off its operating costs.

ATLANTA-Credit unions looking to improve efficiencies should first make sure they have a scorecard to track results.

Lean Six Sigma combines the speed improvements that come from using Lean principles with the quality improvements that come from using Six Sigma.

HARRISBURG, Penn.-Credit unions of all sizes scrambled to stay in compliance with a bevy of new regulations proposed or enacted in 2009 and are bracing for more in 2010. As a result, many smaller credit unions have had to get innovative in meeting compliance demands.

LOMBARD, Ill.-Other "sexy" issues like healthcare, jobs and terrorism are likely to put consumer protection legislation on the backburner once again, according to Bill Handel VP-Product Development at Raddon Financial Group, who believes a bill with significant changes to overdraft practices will not be seen in 2010, if at all.

BROOKFIELD, Wis.-Fiserv recently released Relationship Advance, a new product that allows credit unions to provide a short-term, open-end line of credit linked to members' checking accounts.

WILMINGTON, N.C.-Changes to Reg. E and future overdraft reform are beneficial for credit unions, according to Robert C. Giltner, a consulting partner at Velocity Solutions.

RALEIGH, N.C. – State Employees’ CU reported another successful year, even as the recession was spreading across the state creating one of the highest unemployment rates in the country.

WARRENVILLE, Ill. – Nearly a full year after we said goodbye to 2008, Members United Corporate FCU finally was able to close the books on it as well, posting a $1.2 billion loss for the year in a financial statement released on New Year’s Eve 2009-10.