WASHINGTON –Assets of federally insured credit unions increased by 5% to $792.2 billion during the first quarter of 2008, according to data released by the NCUA based on information submitted in Call Reports by the credit unions.

During that period, total shares increased 5.6%, for an annualized 22.4% with every category of savings, except non-member deposits, growing by annualized double digits. Loan growth was 1.1%t, or an annualized 4.5%, during the first quarter. Share growth typically outperforms loan growth in the first quarter of the year. Rapid share growth caused the loan-to-share ratio to dip below 80%t. At 79.8% it trends slightly higher than the March 2007 loan-to-share ratio of 79.1%.

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