ALEXANDRIA, Va. – The number and size of credit unions that are failing is generally pretty low, according to information obtained from NCUA via the Freedom of Information Act.

First quarter 2006 saw five credit union failures, including four liquidations and one assisted merger. The total assets of these institutions were $2.6 million and the average asset size was $527,458. These are some of the lowest first quarter figures since 2000.

Annualized that is just over $10.5 million, by far the lowest aggregate assets of failed credit unions in that time, the next lowest being $68.3 million from all of 2004. However, the 2006 annualized figure could be significantly skewed if just one large credit union hits a rocky patch it cannot recover from.

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