Happy Saint Paddy's Day, everyone.  And I am happy to report that Alaska credit unions and banks are strong and healthy.  There seems to be alot of doom and gloom in the national headlines, so I am very happy to report some good news.  A few weeks ago, I wrote in my blog, What to Do if You Are On the Downside, that Alaska's economy is very healthy compared to the lower 48.  The Anchorage Daily News seems to back me up on this in its recent article regarding Alaska banks and credit union health.
 
The ADN reported that many of Alaska's credit unions and banks grew in local profits last year and are not in need of TARP funds.  Three Alaska banks which did accept TARP monies were Alaska Pacific Bancshares, Key Bank and Wells Fargo.  However, the banks that received TARP funds did not take the funds because they were in trouble.  The Anchorage Daily News reported that one of the reasons Alaska banks and credit unions fared well was because of their common sense approach to lending - no risky loans.  Although, Alaska and the Municipality of Anchorage has its issues, I think the common sense approach to life mirrors that of Alaskans in general, which has lead to our being one of the best economies in the nation.
 
Pauline Hofseth, Anchorage Real Estate
 
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