Capital levels rise with increases in member savings

MADISON, Wis. (9/3/09)--Credit union capital levels closed in on their pre-financial crisis highs, and credit union members increased their savings balances by a significant amount in July, according to a Credit Union National Association (CUNA) economist's analysis of CUNA's monthly sample of credit unions.

"In July, total credit union capital grew 0.7% to reach $89.037 billion, just shy of the high-water mark reached last November of $90.840 billion," Steve Rick, CUNA senior economist, told News Now. "However, the 9.3% asset growth since November has pushed the credit union capital-to-asset ratio down to 9.8% in July from 10.9% last November."

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Courtesy of cuna.org