Performance reports

SEWICKLEY, Penn. – PA HealthCare CU held a ‘Whole 9 Yards’ promotion yesterday for all of nine hours–offering a $999, 99-Day CD at 9% to commemorate the day 09/09/09.

RICHARDSON, Texas – Texans CU filed a Chapter 11 bankruptcy petition yesterday for its Texans CUSO Insurance Group unit, because of a $6 million judgement against it by the company’s former owner.

RIDGECREST, Calif. – AltaOne FCU, which has been struggling with large losses, announced last week it is closing its branch in Mammoth Lakes effective Oct. 2 because of the poor economic climate.

CHICAGO - When NCUA examiners told Bohdan Watral that his credit union had set aside too much in loan loss reserves, the CEO of Selfreliance Ukrainian American FCU responded, "You never know what's coming around the corner."

HARRISBURG, Penn. - Pennsylvania State Employees CU plans to rebuild capital by leveraging its cost-effective branchless model and being aggressive with lending.

BOSTON - With economic turbulence swirling all around, the key to the credit union movement's future will be for CUs to do more than just survive — they must strive to boost earnings.

MADISON, Wis. - Capital levels at CUs across the country have recovered nearly to their fall 2008 highs, according to CUNA monthly survey. A surge in deposits in July helped to bolster the cooperative movement's capital position.

LAS VEGAS - While many in the credit union movement see alternative capital as a positive, one analyst says be careful what you wish for.

BOSTON - State regulators and examiners from across the country met up at the National Association of State Credit Union Supervisors (NASCUS) Annual Summit here. Credit Union Journal caught up with a few of them to ask: "Where does your biggest concern lie right now when it comes to examining credit unions?"

HAMPDEN TOWNSHIP, Penn. – Members 1st FCU bought the troubled Coliseum Entertainment Megaplex at yesterday’s bankruptcy auction after no one bid on the property.

MIAMI – State regulators have approved an emergency merger of troubled Mount Sinai FCU into neighboring People CU.

NEW BERLIN, Wis. – Landmark CU announced yesterday it has agreed to acquire four smaller credit unions, including two troubled institutions, Allco CU and First Security CU.

SAN FRANCISCO – Visa Inc. said it will prepay $682 million to U.S. merchants to complete a settlement of a 2003 antitrust case, paying early to get a discount from the $800 million it had owed through 2012.

HONOLULU – Aloha Pacific FCU said it will acquire tiny First Insurance FCU, its second merger since December.

MONTEREY PARK, Calif. – E1 Financial CU said its members have approved the merger of the ailing $350 million credit union into nearby NuVision FCU, creating a $1.2 billion credit union.

SYRACUSE, N.Y. – Fast-growing Empower FCU has been approved by NCUA to acquire Telco FCU, based in nearby Elmira, N.Y., its third merger in the past two years.

TAMPA, Fla. – GTE FCU is closing three of its branches, as it works to weather the state’s economic downturn.

OAKLAND, Calif. – NCUA last night it and state regulators took over troubled Kaiser Lakeside FCU and assigned the remnants of the one-time $45 million credit union to SafeAmerica CU, a $315 million institution nearby Pleasanton, Calif., the latest in a growing list of failed credit unions in California.

WASHINGTON – CUNA reported yesterday the final red ink for 2008 was just less than $8 million.

WASHINGTON – The FDIC on Friday seized three more troubled banks, making a total of 84 failures through the first eight months of the year.