Performance reports

SEATTLE-The Federal Home Loan Bank of Seattle reported unrealized losses on its private-label mortgage backed securities will push it below regulatory capital limits and could force it to suspend dividends and excess stock repurchases.

COLUMBUS, Ohio-Increasing fees being charged by banks should present an opportunity for credit unions to capture share, but some are facing an ironic dilemma: the pressure many credit unions are feeling to raise their own fees.

WASHINGTON-The House has delayed until this week a vote on a bill to set aside billions of dollars for distressed homeowners and give access to cash infusions under the Troubled Asset Relief Program to CUs.

PITTSFORD, N.Y. – Pittsford FCU said it is paying its 25,000 members a special dividend totaling $500,000.

WALL STREET – Fitch Ratings downgraded U.S. Central FCU again yesterday, amid growing losses on the books of the corporate credit union for corporate credit unions.

WILLIAMSVILLE, N.Y. – Western Division FCU announced it paid its members a record dividend this year totaling $1 million.

SAN BERNARDINO, Calif.- Arrowhead CU will close four branches effective Feb. 7, the $1-billion CU said.

APPLE VALLEY, Calif.-High Desert FCU, which was taken into conservatorship by NCUA in October, continues to post losses and capital has declined to nearly 2%, but management insists the credit union is not looking for a merger partner or a purchase and assumption agreement.

LOMBARD, Ill.-Credit union special dividends and year-end bonuses may be down slightly this year, observed industry experts, who suggested that those that have managed to increase dividends may drive long-term growth.

ABILENE, Texas – Abilene Teachers FCU said it will be giving its members an interest rebate of 7.5%, amounting to about $500,000.

LAS VEGAS – Clark County CU paid its members a bonus dividend yesterday for the night year in a row–a $2.9 million payout this year.

DEARBORN, Mich. – Members of DFCU Financial FCU woke up yesterday richer–by $17 million-courtesy of their credit union’s third annual bonus dividend.

SAN BERNARDINO, Calif. – Arrowhead Central CU, which is expected to report an annual loss, announced yesterday it is closing four branches throughout Riverside and San Bernardino counties, shelving plans for new branches and may lay-off as many as 30 employees.

DAYTON, Ohio – Dayton Firefighters FCU said it paid its members a 25% bonus dividend to members totaling over $159,000.

BRISTOL, Penn.–NBACU members received more than $350,000 in rebates and bonuses on top of the regularly scheduled $125,000 in 4th quarter dividends.

WASHINGTON–Dune Capital Management has acquired the assets of the failed IndyMac Federal Bank for nearly $14-billion, the FDIC reported. Under the deal, expected to close in late January or early February, the Pasadena, Calif. thrift will be transferred to a newly formed holding company called IMB HoldCo LLC, which will be controlled by a limited partnership owned by the investor team.

WASHINGTON-When 2008 made its debut some were predicting that as many as several hundred banks would fail and would be taken over by regulators. Yet while the year saw the collapse of Washington Mutual as well as the largest bank failure in history, that of IndyMac Bank, only 25 banks failed-well short of what many had feared.

WASHINGTON-Hard times have not prevented some credit unions from delivering their annual holiday gift to members, the bonus dividend.

TUSCALOOSA, Ala.-If capital is indeed to protect against rainy days, then one person is advising credit unions to use it for those who are getting wettest.

FLORENCE, Ky.-One person is advising credit unions to use some of their capital in driving hard bargains with competitors facing even more strained capital positions.