Combine cranberries, 1 cup sugar and water; cook over medium heat about 5 minutes or until cranberries begin to pop. Drain and set aside.
Cream shortening; gradually add 2/3 cup sugar, beating until light and fluffy. Add eggs one at a time, beating well after each addition.
Sift dry ingredients; add to creamed mixture alternately with banana, mixing well after each addition. Fold in cranberries and pecans.
Line a greased 9 x 5 x 3-inch loaf pan with wax paper; grease wax paper. Spoon batter into pan. Bake at 350 degrees for 1 hr or until coffee cake tests done. Cool 5 or 10 minutes in pan and than remove.