BISMARCK, N.D. (8/29/12)--Credit unions in North and South Dakotas have performed as well or better than the national averages in asset growth, loan growth, and member growth during the past 12 months, according to the Credit Union Association of the Dakotas (CUAD).
As of March, North Dakota credit unions saw asset growth of 13.5%, while South Dakota credit unions experienced asset growth of 6.4%. Both percentages exceed the national average of 4.8%.
While North Dakota credit unions saw significant loan growth of 12.2%, South Dakota's loan portfolios posted growth of 1.2% over the previous 12 months.
Both North and South Dakota outpaced the national average in member growth by almost 1%. North Dakota credit unions grew membership by 1.7% during the past year. Membership growth among South Dakota credit unions was 1.4%. The national average was 0.6%, said CUAD.
The positive trends have continued through the first six months of 2012 for the Dakotas' credit unions, CUAD said. Assets have increased $229.4 million or 4.54%. Both savings and loans increased by over 4% since December 2011 and credit union memberships continue to grow, increasing by about 5,000 members since the end of last year.