Performance reports

BIRMINGHAM, Ala. — Is the record number of CU liquidations in 2009 a reflection of regulatory agencies acting quickly-or too late?

ATLANTA – The Federal Home Loan Bank of Atlanta reported yesterday that net income for its second quarter soared 78% to $191.7 million.

BOSTON – The Federal Home Loan bank of Boston said yesterday that losses on its private-label mortgage-backed securities created a $4.2 million loss for its second quarter.

SEATTLE – The Federal Home Loan Bank of Seattle, struggling with low capital, said yesterday it lost another $34.3 million in the second quarter as a result of charges related to its investments in mortgage-backed securities.

PITTSBURGH – The Federal Home Loan bank of Pittsburgh said yesterday that losses on its mortgage-backed securities pushed net income for its second quarter down 40%, to $32.1 million, compared to the second quarter last year.

LAS VEGAS – NCUA said this morning it has closed down Community One FCU, the state's eighth-largest credit union which has been struggling amid the troubled Nevada real estate market, and the remnants of the troubled institution have been acquired by Utah credit union giant America First FCU.

LAS VEGAS – NCUA said this morning it has closed down Community One FCU, the state's eighth-largest credit union which has been struggling amid the troubled Nevada real estate market, and the remnants of the troubled institution have been acquired by Utah credit union giant America First FCU.

SEATTLE – The Federal Home Loan Bank of Seattle was classified by federal regulators as ‘undercapitalized’ for the first quarter, the bank said in a regulatory filing Friday.

SAN FRANCISCO – The Federal Home Loan Bank of San Francisco said a $168 million gain from derivatives and other financial instruments pushed net income up 30%, to $303 million, for the second quarter of 2009.

SAN FRANCISCO – In an effort to emphasize the credit union difference to its members, San Francisco Fire CU is planning to create a new member capital accounts.

DECATUR, Ga. – Harland Clarke Holdings said Friday that lower debt service charges helped produce a doubling in net income for its second quarter, even as revenues from its core check printing business continued to slide.

WASHINGTON – Bank regulators shuttered two banks in Florida and one in Oregon Friday to make a total of 72 bank failures so far this year.

As credit unions across the country gear up for the traditional strategic planning season, CU Journal talked wth more than 20 experts to get a preview for what next year's most critical issues will be during those planning sessions. Click here for experts' tips and advice on how to make the most of your strategic planning for the year ahead.

SAN DIEGO-Will the credit union's core system lead it into the future or hold it back?

AUSTIN, Tex.-Credit unions looking to boost lending portfolios should consider adding "merchant lending" to their loan mix.

SAN ANTONIO-Strengthening the credit union's relationships with local auto dealers should be a 2010 strategic priority, insists one industry expert, who is forecasting an auto loan boon for CUs when the economy recovers.

LOMBARD, Ill.-Before the credit union considers what should comprise its 2010 strategic plan, it should first examine the process for how it develops those annual goals.

ST. PETERSBURG, Fla.-When credit unions meet to talk about next year's strategies, one discussion that should not be on the table is leveraging cost control as a primary means to pull the CU out of an economic tailspin.

SAN DIMAS, Calif.-Given the economy and the need for credit unions to lower their average membership age, planning sessions should address shared branching opportunities to reach out to Generations X and Y.

BROOKFIELD, Wis.-To reach Generations X and Y, credit unions must be where their web-savvy members are.