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
Minn. CUs recovering faster than states banks
ST. PAUL, Minn. (7/10/12)--Minnesota's 130 credit unions are recovering from 2008's financial collapse much faster than the state's banks.

About 78% of Minnesota's credit unions won Bauer Financial recommendations in the first quarter, bettering the national average of 73.7%, and an improvement from 64% in the first quarter of 2012, according to Finance and Commerce (July 9).

Minnesota credit unions also posted the third-fastest rate of improvement among all the states.

About 56% of Minnesota banks were recommended by Bauer this year, an improvement from 50% last year. Nationally, 65.6% of banks were recommended by Bauer.

Faster recoveries coming out recessions are typical for credit unions, Ben Rogers, chief researcher with the Filene Research Institute, told Finance and Commerce.

Minnesota credit unions were assisted by a boost in consumer confidence, which helped improve auto and home lending, Dan Stoltz, president of Spire FCU, Roseville, Minn., told the publication.

Credit unions also improved their operational efficiency, Stoltz said.


RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
1 day ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
1 day ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
1 day ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
1 day ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
1 day ago