Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
#NewsNow: @CUNA-CFA survey results suggest 3-3.5% increase in holiday spending. http://t.co/GjcDvvwfzy
8 hours ago
.@WOCCU promoted financial inclusion as a sustainable development goal at two separate @UN events this month.
9 hours ago
Colo. authorities OK first-ever #marijuana-focused CU #NewsNow http://t.co/77qj6O3bcu
9 hours ago
.@Vancity busts some Black Friday retail myths http://t.co/q8Wht3CcRc
10 hours ago
Things get hairy at #creditunions during #Movember http://t.co/Hc6tYRMSY8
11 hours ago