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As we move into 2011, I would like your readers to know there are good news stories to tell about credit unions-stories that aren’t always getting the notice they deserve. As Credit Union Times reported in its Dec. 8 issue (“Data: CUs’ Heavy Challenges”), NCUA’s data shows that credit unions’ net income and net worth increased during the third quarter. But in fact, the news is even better. The $3 billion increase in net income reported actually represents a nearly 80% year-over-year increase. And we need to remember that capital levels remain strong and are rising-with the net interest margin, operating expense ratio, and loan loss provision all improving in 2010.

Peter Westerman

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