Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
WesCorp revises March 2010 financials
SAN DIMAS, Calif. (4/26/10)--Western Corporate FCU (WesCorp) has revised its March 2010 financials. WesCorp realized a net loss of $36.3 million for March 2010, including additional other-than-temporary-impairment (OTTI) charges for the month of $49.4 million. Excluding the OTTI charge, income from normal operations for March was $13.2 million, consistent with operating results for the first two months of the year, according to WesCorp’s website. Actual realized losses on 40 securities incurred in March totaled $76.5 million, bringing actual realized losses to date to $270 million for 43 securities in the portfolio on a cumulative basis. The actual losses experienced in March have no additional impact on WesCorp’s financial statement since the actual losses have already been recognized in prior periods through OTTI. For more information, use the link.
Other Resources

RSS





print
News Now LiveWire
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
8 hours ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
1 day ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
1 day ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
1 day ago
You can get your subscription to @cuna 's free, daily, online #creditunion #news service News Now here: http://t.co/YtUejEmAYP
1 day ago