Performance reports

WEST PALM BEACH, Fla. — Although 40% of credit unions polled by CU Journal reported adjusting what they're paying for deposits, analysts are suggesting many continue to struggle with their pricing and the resulting strain on margins.

MOBILE, Ala. - Bob Dobilas took the reins as CEO of New Horizons Credit Union on April 1, 2002. Yet the news he received that day was no joke.

SAN DIEGO -

ALEXANDRIA, Va. -

SAN DIEGO -

ST. GEORGE , Utah -

McLEAN, Va. – In another sign of the growing mortgage crisis, secondary mortgage market giant Freddie Mac reported yesterday that it has written down the value of its mortgage portfolio by a whopping $8.1 billion and took a $2 billion loss for the third quarter.

MIDLAND, Texas -

KEY BISCAYNE, Fla. - CUNA Mutual's trading desk has been a real success in terms of funds invested, seeing almost $100 million a month deposited into its various portfolios-but it has yet to catch on where it counts: with credit unions.

SAN DIEGO - It won't be just the hills surrounding the Hyatt Hotel that will be smoldering when credit unions from California and Nevada meet here this week.

NEW ALBANY, Ind. - Authorities have little hope of recovering any of the $7 million a teller stole from Obelisk FCU, forcing NCUA to liquidate the 70-year-old credit union earlier this year, and sell off its good parts.

CONCORD, Calif. - Soaring losses in the real estate loan portfolio of Cal State 9 CU forced NCUA to take the $390-million state chartered credit union under conservatorship, with plans to either merge or sell the failed institution.

KEY BISCAYNE, Fla. - Credit unions have already given up their tax advantage, they just don't realize it.

LENEXA, Kan. - Increased exposure to the mortgage backed securities market, including the subprime market, caused U.S. Central FCU to report losses of almost $17 million for the third quarter.

JACKSONVILLE, Ark. - Arkansas Federal Credit Union isn't afraid to set a big goal. At about a half billion dollars in assets, the CU is looking to join the billion-dollar club quickly-but to do so, it needed to change the way things were getting done.

WASHINGTON - A group of credit union economists has issued a new economic forecast that is more pessimistic than what was being projected earlier this year, cutting its 2008 CU loan growth outlook by nearly 100 basis points.

SEATTLE - So a guy with a million dollars walks into a credit union ...

DEARBORN, Mich. - DFCU Financial announced it will pay its members a special dividend of more than $17 million for the second straight year. Eligible members will receive a 0.5% dividend on their 2007 average loan and deposit balances, to be deposited in their accounts on Jan. 7. Every member will receive at least $50.

In the July 15 issue, CU Journal explored the advantages larger CUs have over their smaller brethren. In this series, the Journal focuses on thriving, small CUs.

SPRINGFIELD, Ore. - Can a credit union be expected to grow if it's unable to market to its primary membership?