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Massachusetts CUs assets grew in 2008
MARLBOROUGH, Mass. (3/16/09)--Massachusetts' 223 credit unions grew during 2008 in assets, deposits, loans and membership, according data from year-end reports released by the National Credit Union Administration. Assets grew 7.94% to $26.5 billion from $24.6 billion at the beginning of 2008, according to the statistics cited by the Massachusetts Credit Union League (E-Weekly March 11). Asset growth for Massachusetts' credit unions was half a percentage point over the national growth rate of 7.23%. Savings in Massachusetts credit unions rose 5.21%, compared with nearly 7% for credit unions nationwide. Credit unions in the commonwealth attracted 13,000 new members in 2008, an increase of 0.53%. Loans outstanding grew by more than 6.37% , or $1.16 billion. Nationwide, loans at credit unions rose by 6.71%


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