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California has 455 CUs with assets of $126.8 billion as of the end of 2009. California is therefore a good microcosm of all CUs. California CUs have total capital at Dec. 31, 2009 of $11.47 billion for an average net worth ratio of 9.04%. California CUs are growing, adding over 500,000 new members in the last three years. The question is whether California CUs, or in fact any CU in the United States, needs alternative capital. The easy answer is yes. Is there a better way to manage the capital that already exists in the CU system?

Peter Westerman

Credit Union Times

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