Las Vegas credit union posts year-to-date income of $10.9 million compared to year-ago loss of $1.6 million.
Las Vegas credit union continues to share in hometown's economic recovery, CEO says.
One year ago, the Las Vegas credit union reported a $3.5 million net loss during the same period.
The $3.9 billion Patelco Credit Union experienced its most profitable year in the Pleasanton, Calif.-based institution’s 76-year history, with a $55.5 million net profit and 1.48% return on assets. In fact, last year’s earnings were more than the total of $37 million earned from 2005 to 2011 combined.
Las Vegas credit union pares 2012 losses to $670,000 with three consecutive positive quarters.
Las Vegas credit union in the black for the quarter, the red for the year.
Silver State Schools Credit Union lost its position as Nevada’s largest credit union last year, along with $8.4 million. The troubled Las Vegas credit union said it posted a net loss of $2.8 million in the fourth quarter, and finished the year with a net loss of $8.4 million, but said...
Silver State Schools Credit Union continued to lose money in the fourth quarter but less than before, and the Las Vegas credit union got a $4.4 million advance from its private insurer.
Retirements, promotions in and around credit unions in the year now past.
Former Patelco CU CEO cites background with schools-related CUs, says he's ready to leave retirement behind.