Debbie Matz is chairman of the NCUA. Contact 703-518-6309 or [email protected]

This year was a transformative year for credit unions. It was a year in which credit unions made the transition from the losses of recession to the stability and growth of recovery. During the year, the industry topped $1 trillion in assets and grew strongly to approach 94 million members.

Looking at third-quarter results, the industry’s performance has been impressive by just about every measure. Return on average assets reached 86 basis points, a more than four-fold increase from the 18 basis points at the end of 2009. Industry net income rose and lending expanded, with low-income designated credit unions leading the lending expansion.

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