Commercial banks and savings institutions had their highest quarterly
return on assets ever recorded in the first quarter of 2003, earning
over $29 billion. Although credit unions continued to outgrow banks
and thrifts, the movement only accounts for 6.5% of all deposits.
Asset quality was high across the board, with the credit union
net-charge off rate staying steady at 0.50%. Banks and thrifts continued
to manage more assets with fewer staff, with thrifts now managing
over $5 million per employee.