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Miscellaneous

Loan Losses Rise, Profitability Plunges For CUs

NOV 21, 2008 12:19pm ET

ALEXANDRIA, Va. – Increasing loan losses forced credit unions to move billions of dollars of new funds to reserves in the third quarter and pushed the key profitability ratio, return-on-assets, down to just 0.12% for the quarter, the lowest in decades, NCUA reported this morning.

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