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Numbers Don't Lie
The balance sheets of the country's largest credit unions show in black and white that cooperatives are leading America's economic recovery. As U.S. Representative Brad Sherman (D- CA) succinctly observed, "I look forward to credit unions being in a position to help us get out of this mess."
Performance figures for the top 100 credit unions
, as of March 31, 2009 capture core trends indicative of the overall direction of the industry. And these balance sheets are reflecting incredibly strong share growth, as members seek safe harbors for their money. Earnings do show a wide dispersion of results, but the top 100 are committed to helping members in uncertain times. Data for 95% of the industry is already live on CreditUnions.com; the rest will be available tomorrow.
On another front, President Obama signed two pieces of legislation that will affect credit unions. One is extremely significant. The other, hopefully, markedly less so. Visit CreditUnionsRising.com this Friday for timely perspective on this news from Capitol Hill.
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Marissa McGee
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