Progressive CU Retains Slot As MostProfitable

NEW YORK - (03/10/04) -- Progressive CU, the Manhattan-basedcredit union specializing in taxi cab loans, was once again thenation's most profitable credit union in 2003. The $265 millioncredit union reported net income of $10.4 million and areturn-on-average assets (ROA) of 4.06%, according to Callahan& Associates. The rets of the top 10 most profitable creditunion over $25 million were: Hoboken School Employees, Hoboken,N.J. with net income of $1.1 million (3.77%); Bank @lantec FCU,Virginia Beach, Va. (since converted to mutual savings bank), $3.3million (3.66%); Pioneer Muslim CU of Houston, $1.1 million(3.47%); Whatcom Educational Bellingham, Wash., $9.9 million(3.21%); AM FCU, Rancho Dominguez, Calif., $824,00 (3.20%);Southern FCU, Houston, $761,000 (2.97%); Telcoe FCU, Little Rock,Ark., $4.1 million (2.95%); Consumers FCU, Brooklyn, N.Y., $959,000(2.94%); and Qside FCU, Flushing, N.Y., $1.3 million,(2.87%).