Performance reports

HOUSTON – Cardtronics Inc., the biggest provider of ATMs to credit unions, reported first quarter losses of $5.1 million yesterday, up from a loss of $4.6 million for the same period last year.

BROOKFIELD, Wis. – Fiserv reported a 69% decline in first quarter profits yesterday as its home equity processing business was hit by the downturn in the U.S. mortgage market.

JACKSONVILLE, Fla. – Fidelity National Information Services said its first-quarter profit tumbled 53% as revenue from its processing and services segment declined after last July’s spin-off of its Lender Processing Services unit.

ST. PAUL, Minn – Deluxe Corp. said profit fell for a sixth straight quarter, hurt by charges related to the writedown of goodwill and restructuring-linked costs and the continued move away from paper checks.

SAN FRANCISCO – Visa Inc., the world’s largest payments system, posted better-than-expected quarterly earnings yesterday as card network increased prices, slashed expenses and consumers used debit cards more.

WARRENVILLE, Ill. – Members United Corporate FCU, struggling with huge losses on its investments, said yesterday it is closing down its Members Health Network CUSO for lack of funding.

MINNEAPOLIS – Fair Isaac & Co., the maker of the ubiquitous FICO credit score, reported a strong fiscal second quarter, with net income surging 31% to $17.7 million for the period, after a restructuring that pared a fourth of its workforce last year.

MILWAUKEE – Metavante Technologies, the back-office service provider for credit unions and banks preparing to be acquired by Fidelity National Services, reported yesterday that first quarter earnings rose 15% to $40.3 million, while revenues advanced by 1% to $426.9 million.

SACRAMENTO, Calif. – The $2 billion charge for the failure of WesCorp FCU that is trickling through credit unions in California and Nevada couldn’t have come at a worse time, as the economy in these two hard-hit Sand States continues to decline.

EUGENE, Ore. – In one of the first signs of the collateral effects of the corporate bailout, Oregon Community CU announced Friday plans to close down all four of its Portland branches, ending five years physical presence in the state’s biggest city.

MIRAMAR, Fla. – A team from NCUA and as many as 10 senior managers from Space Coast CU were speeding here over the weekend to try to save Eastern Financial Florida CU, the state’s third-largest credit union that was taken over on Friday.

MIRAMAR, Fla. – NCUA said this afternoon it has assumed control of Eastern Financial Florida CU, the once high-flying airlines credit union that lost $114 million last year.

MIRAMAR, Fla. – NCUA said this afternoon it has assumed control of Eastern Financial Florida CU, the once high-flying airlines credit union that lost $114 million last year.

BLOOMINGTON, Minn. — Credit union auditors are laying out the options for how credit unions can account for their share of the corporate bailout costs and the impairment of capital in WesCorp FCU, but are leaving it up to their clients to decide how they will report the charges.

LAKE BLUFF, Ill. — Reducing capital standards to 3% reduces the number of natural-person credit unions needing assistance by 1,000, according to Mike Moebs of Moebs $ervices, who offered a preview of what the results of the Treasury's "stress test" will look like.

LANSING, Mich. — State regulators told state-chartered credit unions they will not be penalized if their net capital and earnings fall below regulatory standards solely because of costs related to NCUA's corporate credit union bailout.

LAKE BLUFF, Ill. — When the Treasury Department releases findings of its "stress test" for 19 of the nation's leading banks on May 4, one analyst is confident the numbers will not look good.

TALAHASSEE, Fla. — Personal service combined with a relentless advertising blitz are the dual engines driving Florida Rural Electric CU's success.

ALEXANDRIA, Va. — Costs associated with NCUA's corporate bailout, as well as last month's failures of U.S. Central FCU and WesCorp FCU, are wreaking havoc on the first quarter financials of credit unions, pushing many of them into the red for the first time.

TAMPA, Fla. – For Suncoast Schools FCU, coming off a $76.7 million loss for 2008, an additional charge of $30.6 million for the corporate credit union bailout was unwelcome, especially as it cut net capital for Florida’s biggest credit union to just 6.05%, barely above the so-called well-capitalized mark.