Performance reports

FOREST GROVE, Ore.-Merger Solutions Group President David Bartoo shares this merger advice for credit unions looking to acquire another via merger.

MOLINE, Ill.-For a credit union to get more business from its members, it has to get more out of its employees first.

AUSTIN, Texas-Two traditional sources of fee income-ATM and NSF fees-are unlikely to return to previous levels in the coming year.

WASHINGTON-In 2010, credit unions will have to do much more than rely on consumers' flight to safety to grow membership and drive deeper relationships.

LAS VEGAS-With its CEO back after a brief departure, Silver State Schools CU is working with American Share Insurance (ASI) and the Nevada Financial Institutions Division to turn around the troubled credit union, including a plan to provide a cash infusion into the institution.

FOREST GROVE, Ore.-While credit unions under $20-million in assets continue to be primary merger targets, those very small shops-around $1 to $2 million-may not find many consolidation partners in the future.

ATLANTA–In remarks over the weekend Federal Reserve Chairman Ben Bernanke said it was regulatory failure and not lax monetary policy that led to the bursting of the housing bubble and the resulting deep recession.

WASHINGTON–The start of the New Year meant the end of a U.S. Treasury short-term credit facility as well as the end of a GSE mortgage-purchasing program. The Treasury ceased purchasing mortgage-backed securities from Fannie Mae, Freddie Mac and FHLBs on Dec. 31; the government agency bought about $220 billion in assets from those entities.

LAS VEGAS–Silver State Schools Credit Union, which could receive a cash infusion from its deposit insurer, American Share Insurance, in the near future, could be profitable by next year.

CAROL STREAM, Ill.–The confidence of small business owners in the economy improved slightly in December, according to a survey by Discover Financial Services.

WASHINGTON–The Federal Reserve Board has proposed a program to sell term deposits to banks to help mop up some of the $1 trillion in excess reserves in the U.S. banking system.

DUBLIN, Ohio–American Share Insurance, which provides primary deposit insurance to more than 150 credit unions in nine states, said it will charge its insured CUs a 2009 special premium assessment of 15 basis points.

LAS VEGAS–American Share Insurance (ASI), the Nevada Financial Institutions Division, and Silver State Schools CU told Credit Union Journal they will work together this week to develop a plan to turn around the troubled credit union. Over the past week the credit union first announced its CEO, Dave Rhamy, had resigned to pursue his legal practice, and then within days abruptly announced Rhamy had returned to the job.

DUBUQUE, Iowa-To ensure employees are always up to speed on its own products and services, Dupaco Community Credit Union conducts quarterly online educational programs anchored by a year-end test, from which individual scores affect compensation.

BOULDER, Colo.-Acknowledging it had been overly aggressive in forecasting growth, Elevations CU is closing one branch and eliminating 13 positions.

ALEXANDRIA, Va.-NCUA said last week the reserve ratio for the National CU Share Insurance Fund continued to fall again last month, even as the agency was collecting $720 million in a special NCUSIF premium assessment.

MADISON, Wis.-For Dave Colby, chief economist for CUNA Mutual Group, one of the most important lessons credit unions learned from the recession has been this: "Fundamentals are fundamentals for a reason."

MADISON, Wis.-Calling it a "hopeful sign" for the economy, analysis released by CUNA shows that credit unions' savings growth increased to 10.2% during the third quarter.

DUBUQUE, Iowa-At first glance it would seem the 3.9% introductory rate on its money market account would be all that was needed to help Dupaco Community Credit Union attract $200 million in deposits over the last year.

ONTARIO, Calif. – CU Direct Lending announced a deal with GE Capital Fleet last week to in which the fleet management giant will help credit union’s remarket repossessed vehicles.