The Editor's Column in the Sept. 12 issue ("Dirty (Couple) Dozen Data Dumps") was very interesting.
The decline in the number of small credit unions is very visible. I just finished an analysis of the local credit unions in my service area, and I think I have found some interesting information that may explain what is happening. I looked at the last five year period, June 2007 to June 2012. This period covers the time from just before the financial meltdown to just after the recovery has begun.
What I found is that the meltdown caused more lasting damage than I thought. My vantage point was from SAFE's own financial performance during the five-year period. We did not see much lasting impact. What I found is that most of the smaller credit unions under $100 million not only lost members but their capital declined, loans declined, loan originations declined and gross income declined from the beginning to the end of the five-year period.
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