Performance reports

HOUSTON – Cardtronics, operator of the nation’s biggest fleet of ATMs and a key partner of credit unions, yesterday reported third quarter net income of $6.4 million, up from a loss of $4.4 million for the same period last year, as its cost of revenues was down significantly from last year.

PHOENIX – As with the CEOs of other problem credit unions, Arizona FCU’s Ron Westad has a dilemma – should he continue to reduce his size to improve his net worth ratio, which might hurt his credit union’s chances to take full advantage of an economic rebound when it comes?

SAN FRANCISCO – Visa Inc. yesterday reported net income for its fiscal fourth quarter of $514 million, compared to a loss of $365 million for last year’s fourth quarter – when the cards giant made a large payment on an antitrust settlement.

BROOKFIELD, Wis. – Fiserv yesterday said net income for its third quarter rose 47% to $115 million, based on greater cost efficiencies and a 7% decline in expenses, even as revenues declined by 4%.

DULUTH, Ga. – ATM manufacturer NCR Corp. said it plans to cut up to 10% of its workforce – as many as 2,000 employees – to reduce costs after reporting its third-quarter profit tumbled 81%.

TAMPA, Fla. – Credit unions in this hard-hit center of Florida’s Gulf Coast are slashing dividend rates, shuttering branches and raising loan rates conserve capital and to stay afloat in one of the worst economies in the country.

LAS VEGAS — With capital on the meeting's agenda here during the recent Directors' Convention, Credit Union Journal asked attendees how their own CU's capital is surviving the current economy?

SAN BERNARDINO, Calif. — When third quarter financials are finalized, the numbers for Arrowhead Credit Union will be "pretty rugged," thanks to a substantial increase in provision for loan losses in August.

ALEXANDRIA, Va. — NCUA last week predicted more losses for both corporate and natural-person credit unions, meaning additional charges are ahead to replenish reserves for the National CU Share Insurance Fund.

ST. PAUL, Minn. – Deluxe Corp. reported a doubling in third quarter net income to $28.6 million amid a restructuring, even as sales from its core check business continued to slide.

WASHINGTON – Regulator on Friday shut down another seven banks, making 106 failures, the most since 1992. during the end of the S&L crisis.

MARKS, Miss. – NCUA said Friday it has taken under conservatorship First Delta FCU, a one-time $7.5 million community development credit union pushed into insolvency by a $1.5 million embezzlement by one of its employees.

LAS VEGAS – Friday’s failure of Cumorah CU, the third Nevada credit union to fail in the past month is the latest indicator that the most difficult economic environment in the country has moved here from southern California.

LAS VEGAS – State regulators late Friday closed down Cumorah CU, a one-time $210 million institution and the third credit union in the state to fail in recent weeks.

ALEXANDRIA, Va. -- NCUA yesterday predicted more losses for both corporate and natural person credit unions, meaning additional charges ahead to replenish reserves for the National CU Share Insurance Fund.

DEARBORN, Mich. – For the fourh year in a row DFCU Financial has paid a record dividend to members–this time a $19 million payout.

BAKERSFIELD, Calif. – Troubled Kern Schools FCU revealed yesterday it has been operating under a supervisory agreement with NCUA requiring it to rebuild its capital.

BAKERSFIELD, Calif. – Regulators seized San Joaquin Bank and sold the remnants of the latest bank failure to Citizens Business Bank of nearby Ontario, Calif.

SAN ANTONIO, Texas — Pancakes, '50s wigs, and a lot of team spirit have helped Security Service FCU cut its delinquency rate.

PHOENIX — The path to positive numbers is clear: members simply need to be able to make their loan payments.