Performance reports

MADISON, Wis. — Credit unions are making the right moves in a tough economy, but a "series of body blows" this year will make 2010 even more difficult, according to CUNA Mutual's top economist, Dave Colby.

ORLANDO, Fla. — With federal legislation potentially curtailing revenue streams and adding regulatory burdens, credit unions will have to walk a fine line between boosting fee income and turning off members.

WASHINGTON — According to a new study by the Pew Center on the States, California's problems are in a "league of their own," but the same pressures that drove the Golden State toward fiscal disaster are wreaking havoc in a number of states, with potentially damaging consequences for the entire country.

PHOENIX — The combined housing/economic crises are intertwined messes that will not be fixed for months to come. That is the message from Patrick LaVoie, founder and fund manager for The Westward Fund

DALLAS — One analyst sees California and Nevada with lingering problems with employment and housing that run the risk of a double-dip recession, but he does see some positives.

RIVERSIDE, Calif. — Mark Hawkins, president and CEO of Altura Credit Union, believes the Inland Empire region of Southern California has made a small turnaround.

WEST PALM BEACH, Fla. – In another sign of the economic downturn in south Florida Evangelical Christian CU, the California credit union that specializes in financing churches, has filed a foreclosure notice on Summit Christian School of Palm Beach County.

ALBUQUERQUE, N.M. – Local developer Vince Garcia has agreed to a foreclosure by First Financial CU on Copper Square, the downtown Albuquerque building he bought in 2007 with plans of turning the one-time historic hotel into an office condominium building, according to court papers.

ATLANTA – First Data Corp., the nation’s largest payments processor, reported Friday that financing charges connected to its $27 billion buyout by Kohlberg Kravis Roberts & Co. two years ago continue to weigh heavily on its profits and created a $288.9 million third quarter loss.

WASHINGTON – Regulators shut down two south Florida banks and one in California Friday, raising the total number of bank failures to 123 for 2009.

LAS VEGAS – Texas credit union giant EDS CU, soon to be known as InTouch CU, picked up a potentially valuable franchise with its agreement to acquire the 8,000 member accounts and four branches of Ensign FCU, one of a growing number of large out-of-state credit unions picking over the troubled credit union carcasses here.

HENDERSON, Nev. – NCUA took over failed Ensign FCU Friday night and assigned the remnants of the one-time $135 million credit union to EDS CU of Plano, Texas.

ATLANTA – S1 Corp., a provider of customer interaction financial and payment solutions, said higher revenues led it to an 11% increase in third quarter earnings, to $6.9 million.

SEATTLE – The Federal Home Loan Bank of Seattle, which reported a $93.8 million loss for the third quarter, remains "undercapitalized," a move that will prevent it from paying dividends or repurchasing capital stock, regulators said Friday.

DUBLIN, Ohio — As the number of Nevada CUs posting big losses continues to rise, attention turns to the nation's largest provider of private share insurance and its ability to absorb potentially large losses in this state and across the country.

SUMMERVILLE, S.C. — When it comes to charting an asset management strategy for 2010, CFOs and other analysts around the country say they are deploying a number of strategies for hedging their bets.

PHOENIX — It would seem that the state's two largest credit unions would share the same gloomy outlook as the region's devastated economy has pushed each deep into the red, but executives at one see the light at the end of the tunnel.

WASHINGTON – Fannie Mae and Freddie Mac, run under federal conservatorship for the past year, reported massive losses last week for their fiscal third quarters, prompting more calls for government aid.

DECATUR, Ga. – Lower debt service helped Harland Clarke Holdings report a doubling in third quarter earnings, even as revenues continued to slid for the nation’s largest check printer.

WASHINGTON – Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade of defaults on loans.