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Kansas CUs finish 2011 on strong note says KCUA
WICHITA, Kan. (4/5/12)--Kansas credit unions finished 2011 with high growth rates in loans, assets, shares and members, according to the Kansas Credit Union Association's  (KCUA) Quarterly Performance Summary for fourth quarter 2011.

Loan growth continued, with a 5.88% increase--five times the national average--over fourth quarter 2010, said KCUA. Used-auto loans and mortgages were the leaders in the loans category.  Used-auto loans grew 8.5% annually, offsetting a 4.7% in new-auto balances. 

Credit unions in Kansas originated $354 million in first mortgages during the year, nearly 22.5% of total loan originations. The fourth quarter of 2011 was one of the strongest quarters for first mortgage originations in Kansas credit union history, with more than $120 million loaned out. This was the second highest quarter in more than five years, since $128.8 million was originated in fourth quarter 2010, said KCUA's report.

Shares or savings increased nearly 8% last year, to $4.1 billion deposited with credit unions. Checking shares showed the largest percentage increase, up 15.6%.  The checking penetration also increased, indicating more credit union members are opening checking accounts, the association said.

Membership rose 2.4% --to 627,564--with Kansas credit unions adding 14, 638 members during the year, compared with the national average of 1.4%.

"Kansas credit unions remain strong, especially in light of our economy," said Bob Mayes, vice president of Member and Strategic Services at KCUA.  "With unemployment declining, delinquency and losses seem to have stabilized. Our used-auto loan growth continues to be high, balancing new-auto loans, which have declined in 2011," he added.


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