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Credit unions banked on their loan quality to bolster earnings in the fourth quarter even as income dropped across the board.

NCUA data released Monday showed credit unions generated $4.7 billion in net income in the three months ending Dec. 31, down 14.9% from the third quarter and up 23.7% from a year earlier. The returns were an annualized 0.91% of the fourth quarter’s average assets, matching Callahan & Associates’ estimate from its Feb.16 Trendwatch report.

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Jim DuPlessis

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