Performance reports

ALBANY, N.Y.-At the same time last week credit unions were keeping an eye on a bill in the House to bring relief from NCUA's billion-dollar corporate rescue plan, state leagues and their members were calling on NCUA to adjust its bailout plan to lighten the CU burden.

WASHINGTON-With more than $700 billion in bailout funds approved by Congress dedicated to saving troubled banks, lawmakers are shifting their attention to troubled homeowners in hopes of stemming an expected new rush of foreclosures.

WASHINGTON-The credit union lobby was still waiting last week for word from the Treasury Department on whether it would help out in the rescue of corporate credit unions.

WASHINGTON-Opposition among credit unions was spreading last week to NCUA's plans to finance a rescue of the corporate credit union network with a $5-billion premium assessed all federally insured CUs.

BURLINGTON, Mass. Eastern Corporate FCU (EasCorp) sent a letter to the board of U.S. Central last week saying the corporate's corporate has "failed the crdit union industry" and calling for "immediate changes" in U.S. Central's management.

WASHINGTON-Just days after NCUA approved a rescue of the corporate credit union network, Congress began to plot efforts last week to ease the crushing $5-billion cost on credit unions.

MILWAUKEE – Back officer service provider Metavante Technologies reported net income for its fourth quarter of $40.4 million, creating a fiscal year profit of $147.3 million for 2008, its first year as an independent company.

PURCHASE, N.Y. – MasterCard International said yesterday net income for its fourth quarter declined by 21%, to $239.4 million, absent a one-time gain the prior year for its sale of stock in Brazil’s credit card company, Redecard SA.

NORTH CANTON, Ohio – ATM maker Diebold said yesterday it broke back into the black in the fourth quarter with net income of $5.9 million, or nine cents.

MONETT, Mo. – Jack Henry & Associates yesterday reported a 4% decline in its fiscal second quarter earnings, to $28 million, or 33 cents a share, fueled by a 1% drop in revenues, to $190.2 million.

BROOKFIELD, Wis. – Back office service provider Fiserv reported yesterday that net income for its fourth quarter declined 35% to $62 million, or 39 cents a share, mainly because of a 20-cents-a-share charge for the sale of the remaining stake in its Fiserv Insurance operations.

PLANO, Texas – Southwest Corporate FCU reported yesterday it realized more losses in December, creating a $7.9 million loss for 2008.

ALEXANDRIA, Va. – Criticism was building yesterday of NCUA’s $5 billion corporate credit union rescue plan, which industry experts are predicting will wipe out all credit union profits for this year.

JAY, Me. – Otis FCU said it paid its members a 7% bonus amounting to $450,000 for 2008.

CRANBERRY TOWNSHIP, Penn. – For the seventh consecutive year, U$X FCU has paid out a "Loyalty Reward" to its members.

PASADENA, Calif.-With 2009 projected to result in another net operating loss, Wescom Credit Union is cutting 175 positions and consolidating two branches.

PEORIA, Ill.-More than 60,000 Americans were handed pink slips last Monday alone, and as layoffs pile up, credit unions are racing to their members' sides to ease the pain as much as possible.

MINNEAPOLIS – Fair Isaac & Co., the maker of the ubiquitous FICO score, said net income for its fiscal first quarter fell 40%, due mainly to an after tax restructuring charge as well as a decline in revenues.

WEST JORDAN, Utah, Cyprus CU, which reported one of the largest losses last year, announced it has promoted Todd Adamson, executive vice president, to be its new president and CEO.

SYRACUSE, N.Y. – Empower FCU said yesterday it is giving $2.5 million to members as part of its "Empower Economic Stimulus Plan."