RANCHO CUCAMONGA, Calif.-Stan Hollen believes credit unions came out of the recession minding the store better and paying closer attention to controlling expenses.

Those are two important lessons learned, said the CEO of CO-Op Financial Services. "Credit unions have become much more efficient and get by with less. They challenge the status quo on what is being spent, especially operational expenses. A number of credit unions found they were overstaffed and had too many branches."

Lending quality improved as well. "Credit unions are focusing more on the quality of the lending, not looking at borderline loans, especially with commercial lending. They also stopped buying participations without looking at what they were really buying."

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