Clarification
In the Oct. 4 issue, the story entitled "Centrix Loans Can Have Big Effect on CU ROAs, But ROA Swings Can Be Tied to Many Things" stated First Community Credit Union in Missouri "regularly" purchases investments each year in the first quarter.
The CU said it does not regularly purchase investments in the first quarter. This year the credit union sold low-yielding securities at a loss the first part of the year and replaced them with higher yielding securities. The yield on the securities purchased will recoup more than the losses taken by the end of the year, the credit union said.
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