Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Growth of CUs topic of three newspaper reports
MADISON, Wis. (7/27/10)--The growth of individual credit unions across the nation was the topic of the three recent newspaper reports. Summit CU, Madison, Wis., through a series of mergers and by growing its existing business, has become the largest credit union in Wisconsin, with assets of roughly $1.5 billion, according to the Milwaukee Journal Sentinel (July 24). In June, Summit finalized a merger with State Central CU in West Allis, Wis., acquiring nearly $69 million in assets and adding four branches in the metropolitan Milwaukee area. Summit can keep new potential markets in sight because its state charter allows it to add any person in the state who wants to become a member, the newspaper said. Despite the recession, some Ohio credit unions still are seeing growth, according to the News Herald (July 26). Geauga CU, a $27.6 million asset, Burton, Ohio-based credit union, has seen an upsurge in loan requests during the past year, although it hasn’t been able to grant them all. Eaton Family CU, a $39.6 million asset, Euclid, Ohio-based credit union, is continuing to see an increase in demand for personal loans and its credit card line, the Herald said. Some Maryland credit unions are giving banks more competition for deposits and loans, according to The Capital (July 25). U.S. Coast Guard Community CU, a $33.3 million asset, Baltimore-based credit union, told the newspaper its low interest rates on loans, higher rates on savings accounts, and return of all profits to members are features that “make credit unions a great deal in turbulent times for banks.” Rod Staatz, CEO of State Employees CU in Linthicum, Md.--the state’s largest credit union--told the paper that although credit unions tend to be more conservative than banks, his credit union is growing. To read the articles, use the links.
Other Resources

RSS





print
News Now LiveWire
Registration now open for @CUNA @WOCCU summer conference in Denver July 12-15 http://t.co/opq1jypsXL #ACUC #CUinDenver2015
10 hours ago
Emergency loans post- #Blizzard2015 offered by @ScientFCU in Conn. http://t.co/U9tIBzPOZV
11 hours ago
Did you get your spot in the @CUCB #CherryBlossom 10 Mile Run? Check lottery results here http://t.co/6rxT0osyWJ @CU4Kids @CMNHospitals
11 hours ago
@FamilyFirstFCU has implemented a grant program through the FHLB of NY to help first-time home buyers.
12 hours ago
#BREAKING: @federalreserve offers few new hints on rate-hike timing in policy statement http://t.co/lgZ6zZ1Vrr
13 hours ago