WASHINGTON – The FDIC reported on Nov. 22 that the nation’s banks and thrifts earned record net income of $34.6 billion for the third quarter of 2005, $492 million (1.4%) higher than the previous quarterly record profits set in the first quarter 2005, and $1.4 billion greater (4.2%) than profits earned in the second quarter. This revelation prompted CUNA CEO Dan Mica to reflect on bankers and gratitude. “Bankers should stop complaining and be thankful on the eve of this Thanksgiving holiday,” Mica said. “The juicy profits they continue to feast on – 1.4% higher than the previous record profits set in the first quarter of this year – is the makings of more gravy for a banking industry already stuffed with record profits from 14 of the last 15 years. Will they continue to roast credit unions? Most likely. Their ultimate goal, it seems, is to gobble up whatever alternatives consumers have in financial services.”

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