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
Silver State Schools CU to close five branches
LAS VEGAS (4/30/10)--Silver State Schools CU, Las Vegas, will close five of its branches effective June 4, the credit union announced on its website. The branches will be closed as part of the credit union’s plan to save money. Affected branches include:
* Mae Anne, Reno; * Damonte, Reno; * Clayton, North Las Vegas; * Desert Foothills, Las Vegas; and *Anthem, Henderson.
The credit union also said it has implemented a new e-Checking program that encourages members to “go green” while saving costs for the credit union. Silver State Schools CU also plans to implement a new credit card program. The credit union is operating and working with the Nevada Financial Institutions Division under a consent order and following a plan that has been developed and put in place to benefit the credit union’s financial health. In 2008, the credit union reported a record $10 million net income from operations but set aside $10 million in reserves for potential loan losses. During 2009, as property values continued to decline and record numbers of members experienced reduced income, the credit union recorded $8.1 million net income from operations. However, it set aside $59 million to cover current and potential future loan losses (News Now Feb. 22). In February, the credit union received a capital infusion to bolster its general reserves from its private share insurer, American Share Insurance.


RSS





print
News Now LiveWire
Jobless claims drop to lowest level since 2000 http://t.co/ywyVpWJT1x @USDOL #unemployment #workforce #labor
15 minutes ago
Wanted: 12 young writers for @CUNA's youth fin ed resource #Googolplex #NewsNow http://t.co/cwR9ph3BvJ
28 minutes ago
Registration now open for @CUNA @WOCCU summer conference in Denver July 12-15 http://t.co/opq1jypsXL #ACUC #CUinDenver2015
16 hours ago
Emergency loans post- #Blizzard2015 offered by @ScientFCU in Conn. http://t.co/U9tIBzPOZV
17 hours ago
Did you get your spot in the @CUCB #CherryBlossom 10 Mile Run? Check lottery results here http://t.co/6rxT0osyWJ @CU4Kids @CMNHospitals
17 hours ago