Silver State Schools Credit Union continued to lose money in the fourth quarter, posting a net loss of $2.8 million, and finishing the year with a net loss of $8.4 million, the Las Vegas credit union said.
The $2.8 million loss mirrored the third quarter results. However, that compared with a net loss of $21.4 million in 2010, and the credit union's private insurer, American Share Insurance, gave Silver State Schools, another $4.4 million capital boost in December "after consideration of the steady progress made by the credit union over the past 12-18 months," the credit union said in a statement.
"We look forward to continued improvement in 2012," said Silver State Schools CEO Andy Hunter, the retired Patelco CU CEO who took over earlier this past summer.
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