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YEAR-END FIGURES SHOW STRONG GROWTH AT VALLEY CREDIT UNION

 SAN JOSE, Calif., March 29 /PRNewswire/ -- Record low interest rates and innovative responses to a challenging banking environment helped the San Jose-headquartered Valley Credit Union tally exceptional growth in 1992, based on figures announced this week.
 Assets at Valley CU crested $115 million by the close of 1992, an 11 percent increase over the previous year. Deposits kept pace with a year-end total of $104 million, up 11 percent for the year, well ahead of the national growth rate of 9.9 percent. Earnings for the profit-sharing credit union were $1.3 million.
 Bucking national trends, Valley's biggest gains were experienced in lending with total loans jumping 27 percent in the 12-month period, to $102.5 million. Across the nation, loan-to-deposit ratios slid to 59 percent while Valley's ratio climbed to 96 percent, an advance administrators attribute to creative loan programs that gave members unique opportunities to capitalize on the low interest rates.
 Strategic economic analysis has led Valley Credit Union to position itself for strong deposit growth in the coming year. "The slow yet broad recovery combined with President Clinton's recent pledge to the high tech industry and a projected growth rate of 2 to 3 percent will gradually ease people's fears," predicts Valley Credit Union's chief executive officer, Ted Dennis. "As the year progresses, we expect consumers will once again seek the safety of more traditional savings instruments, finally satisfied with the notion that single-digit interest rates are going to be around for quite some time to come. Other investment vehicles which have the potential of higher returns willow less attractive as the risk factors become more apparent."
 At the top of the Northern Californian's agenda, Dennis says, is cutting debt and increasing savings. "The past couple of years have been hard on families. Even if the recession did not directly impact their lives, priorities have shifted from consumerism to security ... building a safe nest-egg to handle the `what if' scenarios. Only traditional savings instruments can reasonably promise a solid return and safety level that would provide the level of comfort now desired.
 Valley Credit Union is a profit-sharing financial institution open to all employees of AT&T, PacBell, Westinghouse and more than 500 businesses and organizations spanning the coast from Marin County to Santa Cruz County.


Administrative headquarters for the credit union is located at 2635 Zanker Road in San Jose. Four additional branch offices are located in Sunnyvale at 1270 Oakmead Parkway; in Oakland at 3334 Webster St.; in Campbell at 70 W. Hamilton; and in downtown San Jose at 100 Park Center Plaza.
 -0- 3/29/93
 /CONTACT: Anthony Jones of Valley Credit Union, 408-955-1300; or Sharon Chapo of Chapo Marketing, 619-523-0907, for Valley Credit Union/


CO: Valley Credit Union ST: California IN: FIN SU:

KJ-JL -- SD003 -- 0386 03/29/93 09:46 EST
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Publication:PR Newswire
Date:Mar 29, 1993
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