CUNA Ekes Out Small Margin For FirstEight Months

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WASHINGTON - (11/03/04) -- CUNA said it had a small operatingloss of $101,000 for the first eight months of the year, but$225,000 in non-operating income pushed it into the black by$124,400. CUNA Treasurer Alan McMorris reported at last week's CUNABoard meeting that the trade group had revenues of $30.1 million,compared to expenses of $30 million, through August, putting CUNAon track for its second straight year in the black "Net income willbe in the black, even in the face of significant resources expendedduring an election year and resources spent to defend credit unionsagainst bank attacks," McMorris told the CUNA Board. CUNA expectsnet income of about $300,000 for the year. CUNA broke into theblack last year to the tune of $450,000, after reporting losses theprevious two years.

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