Archive

In This Issue:

  1. Top Story
  2. Market Update
  3. Investment Services
  4. Payment Systems
  5. Member Center Update
  6. WesCorp News
  7. Upcoming Events
  8. Product/Service Spotlight

Top Story

March 31, 2009 Financials with OTTI Estimate

As of March 31, 2009, WesCorp posted a credit loss of $5,566,184,000 related to its securities portfolio. Of that, $390,516,000 came from recognizing credit losses in the CDO positions. The $5,175,668,000 remainder came from the rest of the securities portfolio, mostly from the Alt-A and particularly the Pay-Option Arm collateral portions. This amount represents an unaudited estimate of future credit losses and is considered to be an other-than-temporary impairment (OTTI) in accordance with accounting guidelines.
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Market Update with Dwight Johnston

Bad News Is the New Good News

During the last week of April, we read the following headlines: "Chrysler Files Chapter 11," "First Quarter GDP Plummets by 6.1%," "Swine Flu Threatens Global Economy." In last month's Words from WesCorp, I mentioned how market psychology has changed dramatically, and the market was taking "less bad" news as good news. That positive market psychology reached a new extreme last week when those grim headlines resulted in stocks closing higher on the week. Bad news is now the new good news.
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Investment Services

WesCorp CUSIP Data Now Available on Member Center

At the direction of the Conservatorship Board of Directors and continuing the effort to be as transparent as possible with our member credit unions, WesCorp has made its investment CUSIP data available on the Member Center. We believe additional information regarding our investment portfolio is important for our members to have access to for the purpose of understanding WesCorp’s financial condition.
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Payment Systems

A Creative Way to Increase Returns

There is no better time than now to streamline operating procedures by reducing manual invoice processing and eliminating checks--while getting cash back on payables on a regular basis. An accounts payable and purchasing card program like Purchase One (through Procura, LLC) is a great opportunity to give your balance sheet a healthy boost.
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Gain Efficiencies Through Lockbox Services

Looking to reduce your operational expenses and create new efficiencies? Then why not take a look at WesCorp's Lockbox Services.
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Member Center Update

Using the Member Center's Due Diligence page

When you visit the Due Diligence section of WesCorp's Member Center, you can access a variety of financial information.
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WesCorp News

DeMichele Joins WesCorp as new Chief Investment Officer

Please welcome Joe DeMichele as the newest addition to our senior management team. As Chief Investment Officer, DeMichele will direct WesCorp's Investment operations, providing comprehensive balance sheet, liquidity and investment related products and services to WesCorp's members.
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Town Hall Series To Update Members

This year, we are replacing our Annual Meeting and Future Forum educational conference with a series of Town Hall meetings located throughout the western U.S. The kick-off meeting is set for May 18 at the Sheraton Fairplex Hotel in Pomona, Calif.
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But What About The Swine Flu?

Spend a few minutes looking at the news today and you will inevitably hear a report about the swine flu sweeping across the globe. With Mexico seemingly earmarked as the epicenter, the virus has since grown domestically and internationally.
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Upcoming Events

See entire schedule…

Product/Service Spotlight

Securities Safekeeping

Safety, commitment and quality service are the unique characteristics of WesCorp's Securities Safekeeping program. Your securities are accepted and delivered based solely on your instructions, and you receive settlement of your transactions on a timely basis.
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