HOBOKEN, N.J. — As credit unions now find opportunity in a struggling economy, Credit Union Times looks back 10 years ago when credit unions saw record growth in share drafts and first mortgages during volatile international and domestic markets and low consumer confidence.

For the first time share draft deposits at credit unions showed double-digit growth in 1998, growing 10.2% for the year ended June 30 to reach $38.7 billion, up from $35.2 billion at mid-year 1997. The number of credit union share draft accounts also increased from 35.8% to 37.5%.

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