Long-ailing Silver State Schools Credit Union on Wednesday said it has recorded its first quarterly profit – $90,000 – in more than two years.
Last year, the $725 million Las Vegas credit union lost $8.5 million in the first quarter en route to a 2010 loss of $21 million.
Silver State Schools, Nevada's largest credit union, went under a state supervisory agreement in 2009 and received a $22 million capital infusion from its private insurer, Ohio-based American Share Insurance, not long after.
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