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CUs hold largest assets among co-ops
MADISON, Wis. (1/8/09)--The four largest U.S. cooperative sectors--including credit unions--hold more than $1 trillion in assets, serve 107 million members, employ 435,000 people and generate more than $19 billion in wages, said a recent University of Wisconsin study. The four sectors studied were agricultural co-ops, the farm credit system, electric co-ops, and credit unions (LoneStar Leaguer Jan. 7). “Of the four sectors, credit unions hold the largest amount of assets: $761 billion. Their revenue, however, is roughly one-third that of agricultural cooperatives,” the study said. The study, conducted by the university’s Center for Cooperatives, was commissioned by the National Cooperative Business Association and the U.S. Department of Agriculture to discover the economic impact of cooperatives on the U.S. economy. The researchers were recently awarded a grant to expand the study to mutual insurance, childcare, housing, healthcare, education, transportation, and other non-profit, cooperative organizations. Credit unions nationwide employ over 236,000 people and pay over $9 billion in wages, the study said.
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