Bulletin 20 – APRA statistics confirm impressive performance of credit unions & building societies

Official figures out today on credit unions and building societies reveal a strongly performing mutual banking sector, with impressive growth and profit figures.

Combined net profit after tax recorded a solid growth of 53.7% for the year to June 2010, while total assets of credit unions and building societies increased by 8.2 per cent, to a total of $73 billion, according to APRA.

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