Performance reports

LIVE OAK, Texas-When times are tough in the short term, credit unions that want to succeed in the long term must go on offense and pound the pavement for business more than ever.

LAS VEGAS-It is time to get back the fundamentals of lending and finance, according to Brad Beal, president/CEO of Nevada FCU.

SOUTH AUGUSTA, S.C.-While many credit unions are citing the advantage of being conservative in the current economy, at least one CU has learned it can pull too hard on the reins.

ENDICOTT, N.Y.-A regional recession in upstate New York that lasted for nearly 15 years well-prepared Visions FCU for the current economic downturn.

MECHANICSBURG, Penn.-If there is a lesson for credit union CEOs a generation from now who may have to lead their institutions through a recession, it is that such downturns prove the value of the credit union business model.

SALT LAKE CITY — In an era of credit union consolidation in the name of "Bigger = Better," one CU is showing "Smaller = Full Service."

WEST PALM BEACH, Fla. — The severity of the current recession has tested many credit unions' management and boards. In this issue, five CEOs offer their insights on the lessons they have taken away from the current environment. To read about the lessons they've learned, please click the links below.

MADISON, Wis. – Another $6 billion of new savings flowed into credit unions in May, putting 2009 on pace for one of the best years of credit union share growth, according to CUNA.

YOUNGSTOWN, Ohio – Associated School Employees CU said it has agreed to acquire Greater Warren Community FCU, its second merger of the year.

THERMOPOLIS, Wyo. – Bank of Wyoming was closed Friday by state regulators, bringing the total number of failed banks this year to 53, the FDIC said.

TACOMA, Wash.– MilePost CU said Friday its members have approved a merger of the troubled $57 million credit union into Sound CU, the neighboring $420 million credit union.

SACRAMENTO, Calif. – The Golden 1 CU said Friday it is acquiring U.S. First CU, a $110 million credit union that reported a $3 million loss for the first quarter.

MADISON, Wis. — World Council of Credit Unions has launched MatchSavings.org to give people an opportunity to combat global poverty by matching the savings deposits of the poor in the developing world.

MADISON, Wis. — The latest American export to hit Mexico: the recession.

APPLE VALLEY, Calif. — Alaska USA FCU has assumed the operation of troubled High Desert FCU and is in the process of assessing whether it will be closing branches or laying off personnel.

SACRAMENTO, Calif. – State chartered credit unions, already battered by the poor economy, will see their state supervisory fees raises by almost 17% this year as the state seeks to close a huge budget deficit.

MEMPHIS, Tenn. – Memphis Area Teachers CU said yesterday it has eliminated five of its top management positions after a $10 million loss last year and last month’s departure of its CEO.

LOS ANGELES – The Department of Financial Institutions yesterday closed and liquidated Watts United CU, a tiny community development credit union serving the minority neighborhood of Watts.

PURCHASE, N.Y. – MasterCard said last week it will receive a discount on an antitrust settlement by making a $335 million prepayment on the $400 million remaining on the 2003 deal.

BOSTON-Credit unions in half-dozen states-particularly the so-called Sand States of California, Arizona, Nevada and Florida-may be sinking deeper and deeper, but many credit unions around the country are growing and even prospering their way through the recession.