The $1.2 billion Kern Schools Federal Credit Union of Bakersfield, Calif.,declared 2011 its best year for financial performance since2007.
The CU said its net income was $22.4 million for 2011, animprovement of more than $35 million from 2010. According to itsfinancial performance report, the CU had a net loss of $12.8million in 2010.
Kern Schools attributes its rise in net income to an operatingexpense reduction of more than $6 million in 2010 as well as to aloan delinquency turnaround. The CU's financial performance reportstates that total delinquent loans fell from $19.7 million inDecember 2010 to $17.2 million in December 2011, a decrease of12.4%.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
