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Credit union recovery accelerated in 1992.

According to an analysis of 1992 National Credit Union Administration call report data by Veribanc, Inc., the nation's 13,006 credit unions enjoyed significant growth in virtually all categories last year.

Total assets increased 11.4% to $265.7 billion after growing 10.2% in 1991. The average annualized return on assets for the industry in 1992 was 1.38%, compared with .94% in 1991. Problem loans for the industry declined 16.7% to $1.84 billion after a 2.6% decline in 1991, while the number of insolvent or nearly insolvent credit unions dropped to 150, or 1.2% of the industry total, which compares
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Publication:Journal of Accountancy
Article Type:Brief Article
Date:Jul 1, 1993
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