Breaking will be offline for scheduled maintenance Friday Feb. 26 9 PM US EST to Saturday Feb. 27 6 AM EST. We apologize for the inconvenience.


Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON-Much of CUNA’s financial data from 2004 was even better than the trade association itself expected. CUNA’s net assets came out at $1.47 million for 2004, up $1.2 million from the previous year and nearly a million ($970,000) more than was budgeted. Revenue generated by fees was up 8.8% over 2003 and dues based revenue rose 6.4%. Operating expenses for CUNA were $98,000 below budget while net operating revenues were $139,000 ahead of budget. CUNA’s operating margin was $153,000, up $290,000 from 2003 when CUNA posted a negative $130,000 operating margin, according to CUNA Vice President of Communications and Media Outreach Pat Keefe. Total net operating revenues jumped 8.1% to $46.1 million and total operating expenses were $45.9 million (up 7.4%). CUNA’s investment portfolio posted strong returns in the fourth quarter at 6.31%, which brought the 2004 year-end investment income-realized and unrealized combined-$625,000 ahead of budget; the portfolio realized a 9.65% return, exceeding the budgeted 4.5% return. CUNA Strategic Services, Inc., a subsidiary company owned 51% by CUNA and 49% by the state leagues, had a net income of $702,000, $400,000 above budget.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.