Performance reports

OGDEN, Utah – Goldenwest CU will pay its members a bonus dividend amounting to a 7% yield, for a total of $640,000 on Dec. 31.

WASHINGTON – The FDIC on Friday took over seven more banks with almost $15 billion in assets, making a total of 140 bank failures so far in 2009.

MANHATTAN BEACH, Calif. – Kinecta FCU said last week its president, Simone Lagomarsino has resigned after the credit union reported huge losses.

LAS VEGAS – The state’s bleak economy claimed another credit union CEO Friday, as David Rhamy, the well-known president of Silver State Schools CU resigned from the financially ailing credit union.

RIVERWOODS, Ill.– Discover Financial Services reported a 19% drop in fourth quarter net income yesterday, as credit card charge-offs continued to rise.

EAST WAREHAM, Mass. – The owner of the East Wareham Maple Park campground and nearby cranberry bogs filed for Chapter 11 bankruptcy protection this week, listing Digital FCU and its $5 million claim as its biggest secured creditor.

PASADENA, Calif. – Wescom Central CU announced Monday it is closing 12 branches early next year as it continues to dig out from large losses.

SAN ANSELMO, Calif. – Deposits rates are expected to continue to decline or stay flat during the first half of 2010, according to a new study issued yesterday by Market Rates Insight, a research firm that tracks rates for deposits, loans and fees.

WASHINGTON – The FDIC yesterday approved a $4 billion budget for 2010–$2.5 billion of it to resolve failing banks–and the number of failures to continue to rise.

PEORIA, Ill. – CEFCU, the state’s second-largest credit union, said yesterday it will be paying members a $7 million dividend this year, up from last year’s $6 million.

ALEXANDRIA, Va. – NCUA said that college savings 529 accounts may be insured by the National CU Share Insurance Fund either as public units or on a pass-thru basis as a trust.

WASHINGTON – A spending bill passed by Congress last weekend will set send the funding level for the Central Liquidity Facility, the emergency loan fund for credit unions, at $43.8 billion for 2010, up from $41 billion this year.

LAS VEGAS-Two factors that led to significant changes to the international credit market continue to affect credit unions: the securitization of U.S. mortgage loans and international deregulation.

BATTLE CREEK, Mich.-The standard end-of-the-year dividend is anything but at one credit union here. OMNI Community CU is branding its bonus dividend as its own stimulus package and using it to promote CU membership.

PHOENIX-Arizona FCU plans to close eight branches by the end of January 2010. Of the eight, seven are "in-store" branches with limited service capacity, while the eighth location was selected due to an expiring lease, AFCU said.

OKLAHOMA CITY-Quality service and high performance go hand-in-hand at Tinker FCU here, helping the $1.97-billion institution to boost its operational efficiency, ROA and household profitability while also earning high marks for member satisfaction.

OLYMPIA, Washington – State chartered credit unions have up to five years to dispose of property obtained through foreclosure, so-called other real estate owned, or OREO, under new rules approved by state regulators.

JAFFREY N.H. – A public foreclosure auction by Digital FCU of the Grand View Inn and Resort, scheduled for today, was cancelled while the Inn’s owners filed for bankruptcy Friday.

WASHINGTON – Regulators on Friday shut down banks in Florida, Arizona and Kansas, bringing to 133 the number of U.S. banks that have failed so far in 2009.

KINGSPORT, Tenn. – Eastman CU, the state’s largest credit union, said last week it will pay members a $4 million extraordinary dividend early in 2010, for the second year in a row.