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By Heather Anderson |
February 27, 2013
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.
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By Michael Gagliardi |
August 27, 2012
The Financial Accounting Standards Board recently released a proposed accounting standards update for financial instruments concerning new financial statement disclosures of liquidity risk and interest rate risk. The proposal is one portion of a joint project between FASB and the International Accounting Standards Board on the subject of accounting for...
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By Natasha Chilingerian |
July 2, 2012
At any credit union, the role of the chief financial officer is a tough one. He or she must create a roadmap to financial success by setting the right pricing strategy, effectively managing credit risk and streamlining operational costs. But in California, where high unemployment, an unsteady housing market and...
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By Natasha Chilingerian |
June 28, 2012
New strategies for growth amidst high unemployment, lending losses in the Golden State. Find out more in this preview from next week's print edition.
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January 31, 2012
In case you’ve missed it, significant efforts are currently underway to align U.S. accounting practices with standards that are followed in other parts of the world (the convergence process). To accomplish this monumental task, the U.S.-based Financial Accounting Standards Board is working closely with the International Accounting Standards Board.
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By Dan Price |
December 4, 2011
I am writing in response to both your article on TDR reporting (Nov. 2, page 1) and Michael Poulos’ response (Nov. 23, page 15). I wanted to offer some opinions on how to improve on a few of the issues imposed by TDR reporting and tracking.
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March 30, 2011
Credit unions certainly were not immune from the affects of the Great Recession. As a result of the downturn, many members have become delinquent on outstanding loans. Over the past few years, many credit unions have been forced to either reduce or renegotiate the debt owed to them by numerous...
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By Claude R. Marx |
January 25, 2011
Credit unions could get a reprieve from the requirement that they book their loans at their current value on their balance sheets, as a result of decision made today by the Financial Accounting Standards Board.
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December 1, 2010
Anyone in our industry can tell you that more members are being served by fewer credit unions today.
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By Claude R. Marx |
June 9, 2010
Credit unions would have to book their loans at their current value on their balance sheets under proposed rules issued by the Financial Accounting Standards Board.
