Performance reports

WASHINGTON — The credit union lobby declined to support an amendment offered last week to the bill creating a Consumer Financial Protection Agency exempting small institutions, saying the bid would split the industry.

WASHINGTON — NCUA told Congress it expects growing losses on mortgages and member business loans to combine with billions of dollars of losses trickling down from troubled corporate credit unions to cause increasing credit union failures into 2010 and 2011.

LAS VEGAS — Two long-time CEOs of credit unions here abruptly resigned their positions last week: Dan Paulson of WestStar CU and Tony Mook at Cumorah CU.

WASHINGTON — While CUNA was busy announcing it had reached an agreement with NAFCU on the parameters for alternative capital, NAFCU was just as busy suggesting the two trade groups had a ways to go before anyone should be making a cooperative victory lap.

WASHINGTON – The Federal Reserve announced it is shutting down three more check processing operations next month, furthering its plans to move all processing to a single center and making all checks considered "local" by the end of next year.

BAKERSFIELD, Calif. – Kern Schools FCU, which is reporting growing losses on its mortgages, said yesterday it has hired Steven Renock, the former president of CUNA Mutual Mortgage, as president and CEO of the $1.8 billion credit union.

WASHINGTON – NCUA told Congress this afternoon that it expects growing losses on mortgages and member business loans to combine with billions of dollars of losses trickling down from troubled corporate credit unions to cause increasing credit union failures into 2010 and 2011.

WASHINGTON – NCUA told Congress this afternoon that it expects growing losses on mortgages and member business loans to combine with billions of dollars of losses trickling down from troubled corporate credit unions to cause increasing credit union failures into 2010 and 2011.

WASHINGTON – NCUA told Congress this afternoon that it expects growing losses on mortgages and member business loans to combine with billions of dollars of losses trickling down from troubled corporate credit unions to cause increasing credit union failures into 2010 and 2011.

BIRMINGHAM, Ala. – State regulators said yesterday they have hired Douglas Key, a long-time credit union attorney, as CEO of Mutual Savings CU, the $200 million credit union taken under conservatorship July 31.

DAVENPORT, Iowa – A state court ruled last week that IH Mississippi Valley CU is not liable for damages for a failed condominium project for which it had made a multi-million dollar member business loan.

PORTLAND, Ore. – Well-known developer John Beardsley put the company that owns the historic U.S. National Bank building and two other downtown properties into bankruptcy Friday in order to prevent a foreclosure on the properties by California’s Telesis Community CU, the company’s largest lender.

LAS VEGAS – Officials with troubled WesStar CU, which serves the city’s ailing casino industry, was replaced last week amid growing losses for the credit union, which bills itself as "The Gaming Employees Credit Union."

ST. JOSEPH, Mich. — Why would NCUA sell a failed credit union in Reno, Nev., to a credit union 1,996 miles away in Michigan?

RENO, Nev. — After some nine months of agonizing over how to save Clear Star Financial CU, employees of the once-$175-million CU went from the agony of uncertainty, to certain catastrophe, to the joy of salvation in just one roller coaster of a day.

LAS VEGAS – Cumorah CU, saddled with growing losses, said its long-time CEO Tony Mook has resigned and been replaced by Paul Simons, a work-out specialist.

MINNEAPOLIS – A top NCUA official told state lawmakers this week that credit unions have few of the risky holdings that are troubling banks, even as state regulators reported the number of credit unions on its "watch list" of problem institutions has risen to 21, out of a total of 94 state charters.

DALLAS – Credit union executives expressed rising optimism for the near-term for the second quarter in a row in Southwest Corporate FCU’s quarterly Credit Union CEO Confidence Survey.

WASHINGTON – Credit union representatives will join the bankers before Congress this morning in opposition to a new bid that could lead to government regulation of the market for credit card interchange fees.

TAMPA, Fla. — Tom Dorety, CEO of the $5.8-billion Suncoast Schools FCU in Tampa, Fla., and a member of the CUNA board, is hopeful there will be more choices regarding capital in credit unions' future.