Early fourth-quarter results indicate strong receivables growth compared to the third quarter, but year-over-year the results are not so impressive. For example, the Pennsylvania State Employees Credit Union reported a 10% increase in outstandings from the prior quarter, but the annual growth rate was a mere 3%. The pickup in the fourth quarter may be attributed to overall economic recovery which apparently began late in the third quarter.
ISSUER 4Q/03 RECV Q/Q CHNG Y/Y CHNG
Penna. Employees CU $217,932,734 +9.8% +3.0%
FirstMerit Corporation $146,737,752 +3.5% +2.4%
Randolph Brooks FCU $ 95,239,420 +6.3% +4.4%
MacDill FCU $ 45,409,476 +3.9% +6.3%
Citizens Financial $ 23,916,513 +3.0% +34.3%
Source: CardData (www.carddata.com)