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Article: ARHCU to Report Net Loss for 2008 Year-End Results.(Financial report)
- Article from:
- Health & Beauty Close-Up
- Article date:
- January 12, 2009
CopyrightCOPYRIGHT 2009 Close-Up Media, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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American River HealthPro Credit Union (ARHCU) announced that its 2008, year-end results will reflect a net loss due to some of the common factors currently impacting financial institutions across the country.
In a release, the company noted that official reporting, according to industry practice, will occur later this month following final accounting entries and review by the ARHCU Board of Directors.
"Clearly, the pressures affecting consumers in our greater economy have also had some impact here at ARHCU," said CEO, Bob Steponovich. Even relatively conservative institutions like ARHCU -- a 53-year-old, not-for-profit financial cooperative -- have felt ...