The ailing Silver State Schools Credit Union of Las Vegas managed a $1.2 million second-quarter gain and now hopes to end up remaining quarters at break-even levels, the president/CEO of the privately insured credit union, Andrew Hunter, has forecast.
In comments over the weekend, Hunter, the retired Patelco CEO recruited in July 2011 by Ohio-based American Share Insurance Inc. to fix the balance sheet, said that while the $645 million Silver State is reporting a $2.9 million first-half loss, both loan mitigation work and expense control have contributed to second-quarter improvement.
"We are pleased with our progress during the second quarter, and while we know the road ahead is still long and challenging, we continue to believe that we are heading in the right direction," Hunter said.
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