Performance reports

ATLANTA – S1 Corp. yesterday announced its second quarter profit rose almost 4% to $5.1 million, or eight cents a share, fueld by a 7% increase in revenues.

JACKSONVILLE, Fla. – Fidelity National Information Services reported a 51% plunge in second quarter earnings yesterday, to $71.9 million, or 37 cents a share, amid the company’s continuing restructuring.

PLANO, Texas - The economy grew at a 1.9% pace during the second quarter, according to Southwest Corporate’s Brian Turner, who noted the growth was tempered by the continued housing slowdown and higher energy costs but buoyed by tax rebates.

GREEN BAY, Wis. - For more than 10 years, P.C.M. Employees Credit Union has kept a stranglehold on the top spot of the Return of the Member rankings, securing that position every year since 1997.

ST. PAUL, Minn. – Check printer Deluxe Corp. yesterday reported a 9% decline in second quarter earnings to $32.6 million, or 63 cents a share, fueled by an 8% fall in revenues.

DALLAS – Zix Corp., provider of e-mail encryption services for dozens of credit unions and banks, said second quarter losses narrowed to $1.4 million, or two cents a share, from a loss of $3.1 million for the second quarter last year.

CHANTILLY, Va. – Online Resources Corp. yesterday reported a second quarter loss of $3.2 million, or 11 cents a share, compared to a loss of $1.2 million, for the last year’s second quarter.

DAYTON, Ohio – NCR Corp. yesterday reported a 12% decline in second quarter earnings, reflecting costs from a realignment of its business following the spinoff last fall of its Teradata Corp. data warehousing software business.

BROOKFIELD, Wis. – In another sign of the economic slowdown, Fiserv yesterday reported an almost 8% decline in second quarter earnings, to $99 million, or 60 cents a share.

LAS VEGAS - The fallout continues from the failure of IndyMac Bancorp and credit unions are attempting to capitalize on the fallout hitting other banks.

PHOENIX - Officials of Arizona FCU were notifying the credit union’s 220,000 members last week of the financial health of the institutions in the face of a $42.5-million mid-year loss, almost $30 million of it in the second quarter.

PASADENA, Calif. - In the wake of the IndyMac Bancorp failure credit unions across the country have been taking steps to reassure members about the safety of their deposits and the National CU Share Insurance Fund.

LENEXA, Kan. – U.S. Central FCU yesterday reported that the continuing deterioration in the mortgage markets had a key role in restated earnings for 2007 – showing instead of a $6.9 million net for the year, as reported earlier, it had a $50.7 million loss.

MADISON, Wis. - Mortgage growth through May of this year is leading loan growth, which is up 2.8% overall after increasing 1% during May. Fixed-rate first mortgages grew 2.6%, according to analysis by CUNA, which said the 2.8% rise in loans outstanding year-to-date 2008, compares with a 1.6% rise for the comparable five-month period in 2007.

SAN FRANCISCO - In one of the biggest fire sales ever in the credit union industry Patelco CU took control last week of two medium-size credit unions that have fallen victim to the area’s real estate crash, Cal State 9 CU and Sterlent CU.

HOLLYWOOD, Fla. - Does your credit union have a “fee income committee?”

DES MOINES, Iowa - To jump-start CU growth in this state, the Iowa Credit Union League has formed the Growth Commission, which is finalizing plans to help CUs lower expenses and invest the savings into strategies to build membership and assets.

MADISON, Wis. - Variable pay programs–which tie monetary rewards to performance measures and productivity–continues to grow in popularity among credit unions, in part because it offers more flexibility than a simple increase to base salary, according to CUNA’s Complete CU Staff Salary Survey.

RANCHO CUCAMONGA, Calif. - The California and Nevada CU Leagues recently released the 2008 WestScan economic activity report for credit unions in the two states. WestScan is an annual financial report–with quarterly updates–that examines economic, financial, demographic, and other trends affecting CUs in the Golden and Silver States.

SAN DIMAS - As much as attention has focused on billion-dollar securities writedowns at the world’s largest financial companies, the fingerprints of fair-value accounting are nowhere more evident than in the arcane and isolated milieu of corporate credit unions.