Of L.A.'s five largest credit unions, two had substantial losses in 2008:

Kinecta Federal Credit Union
Manhattan Beach
Serves most residents of Los Angeles and select surrounding cities
Assets: $4.2 billion - 228,439 members
2008 Loss: $44 million - Capital Ratio: 7.64
Upped loan loss reserves to $66 million in fourth quarter as loan delinquencies grew. Credit union turned profit on the Nix pay-day loan chain acquired in 2007.

Wescom Credit Union Pasadena
Serves all residents of seven Southern
California counties
Assets: $3.2 billion - 340,620 members
2008 Loss: $53 million - Capital Ratio: 7.01
Loan delinquencies rose to 3.8 percent of total loans, well above industry average. Loans, assets and membership all declined in fourth quarter. Capital ratio barely above
well-capitalized level.

Lockheed Federal Credit Union
Burbank
Serves employees of 100+ sponsor companies
Assets: $2.8 billion - 98,730 members
2008 Net Income: $28 million - Capital Ratio: 15.49
Increased loans, deposits and members in 2008 while turning a $28 million profit, but earnings fell sharply in fourth quarter. Profit was the largest of all county credit unions. Robust capital ratio.

Western Federal Credit Union
Manhattan Beach
Serves employees of 100+ sponsor companies
Assets: $1.5 billion - 133,493 members
2008 Net Income: $3 million - Capital Ratio: 10.19
Fourth quarter income flat, but credit union still eked out modest 2008 gain. Capital is holding strong and loan delinquencies are in check.

Premier America Credit Union
Chatsworth
Serves most residents of Los Angeles and
Ventura counties
Assets: $1.5 billion - 68,418 members
2008 Net Income: $2 million - Capital Ratio: 8.56
Income fell nearly $3 million in the fourth
quarter as loan delinquencies tripled.


Note: Capital ratio reflects net worth/total assets. Credit unions with a ratio above 7 are considered well-capitalized.

Source: National Credit Union Administration

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