Performance reports

LAKE BLUFF, Ill. — Many credit unions are at least 50% over-staffed, says one industry analyst who suggests that now is the "perfect time" to do something about that.

CORONADO, Calif. — DFCU Financial CEO Mark Shobe offered the following advice and strategies for a credit union to build an ongoing Patronage Dividend strategy:

CORONADO, Calif. — A single-minded focus on watching its expense ratio and building capital over a period of years has now created a competitive phenomenon for one rapidly growing credit union.

MIDLAND, Mich. — If financial institutions' phone numbers were on every consumers' speed dial, then Dow Chemical Employees Credit Union would claim the top spot with most of its members.

McLEAN, Va. – Freddie Mac said yesterday it will need an additional $6.1 billion in federal aid after it lost $9.9 billion for the first quarter.

SACRAMENTO, Calif. – State regulators reported yesterday they have approved the merger of Community Trust CU, the $50 million Modesto credit union, into Self-Help FCU, broadening the Durham, N.C., community development credit union’s footprint in California.

EDMORE, Mich. – Heartland Employees CU, a one-time $4.5 million credit union, has been approved by state regulators to merge into River Valley CU, a 454 million credit union in nearby Ada.

DETROIT – Detroit Municipal CU, which lost $4.1 million last year, has been approved by state regulators to convert to a community charter covering four million people in the surrounding counties of Oakland, Wayne and Macomb.

LENEXA, Kan. – When U.S. Central FCU issues its financial results for 2008 tomorrow they are expected to show a loss of more than $2 billion and that the central bank for credit unions had almost half of all of its investments in mortgage-related securities–an unusually high concentration.

NEW YORK – M&F Worldwide Corp., the holding company controlled by financier Ronald O. Perelman that combined check printers Clarke American and John H. Harland Co., reported a healthy net income of $51.3 million based on the buyback of debt it accrued in the two takeovers at a steep discount.

WASHINGTON – Fannie Mae said Friday it needs an additional $19 billion in government aid after reporting a $23.2 billion loss for the first quarter.

PORTLAND, Ore. – OnPoint Community CU said Friday it hired James Hunt, a former senior vice president for finance for Washington Mutual, as its new chief financial officer.

APPLE VALLEY, Calif. – High Desert FCU, which has been operating under NCUA conservatorship since October, has put its new headquarters building on the market for less than it cost to build.

SAN JOSE, Calif. — Credit unions across the country are taking aggressive steps to keep members in their homes and cut down on delinquencies that have pushed many a bottom line into the red.

CORONADO, Calif. — The biggest mistake a credit union can make: allowing your competition to price your loans.

SAN DIEGO — Looking for some ideas to steal?

CORONADO, Calif. — Credit unions can grow in 2009 and beyond, but it's going to require some hard choices.

CORONADO, Calif. — Most credit unions have a not-so-secret weapon for growth, they just don't know its strength or how to leverage it: the credit and debit card portfolio.

CORONADO, Calif. — How does HAPO Community CU spell success? L-E-N-D-I-N-G.

CORONADO, Calif. — If you want to grow, you have to be meticulous about measuring everything.