Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Minnesota CUs' Growth Continued In 1Q
ST. PAUL, Minn. (5/8/13)--Minnesota credit unions improved their financial strength in nearly every indicator during the  first quarter, according to the Minnesota Credit Union Network.

The state's credit unions have grown steadily since the financial crisis, with consumers and businesses choosing not-for-profit, locally owned credit unions as their primary financial institution.

"Minnesotans have always been strong advocates for the member-owned model of credit unions," Mark Cummins, MnCUN president/CEO. "Consumers trust credit unions more than other financial institutions," he said, noting they" align with their values of local and not-for-profit financial institutions."

Among the first quarter highlights:

  • Assets: Minnesota credit union assets grew 3.2% between fourth quarter 2012 and first quarter 2013. Assets grew 7.3% during first quarter from the same period a year earlier.
  • Deposits: Deposits grew 3.5% in first quarter from fourth quarter 2012, and 7.7% year over year from first quarter  2012 to first quarter 2013.
  • Loans: Year-over-year growth in loans made by Minnesota credit unions increased by 3.3% between first quarter  012 and first quarter 2013, while loans 0.5% between fourth quarter 2012 and first quarter 2013.
  • Net Income: Minnesota credit unions are rated as "well-capitalized" by the National Credit Union Administration with a net worth of 10.19%.
MnCUN based its summary and analysis on data credit unions submit quarterly to NCUA.


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
8 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
9 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
9 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
10 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
11 hours ago