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
Minnesota CUs Continue Growth In Third Quarter
ST. PAUL, Minn. (11/5/13)--Credit unions in Minnesota expanded in the third quarter, according to data published by the Minnesota Credit Union Network.

The state's credit union league said that the change in prominent measures indicates that positive growth in the industry is continuing in the Land of 10,000 Lakes--a nationwide trend that has been ongoing since the recession officially ended in 2010.

According to the third quarter data:
  • Membership in Minnesota credit unions grew by 0.8%, increasing by 12,000 to 1,591,000;
  • Assets grew by over 0.7%, with annual growth clocking in at 5%;
  • Deposits increased by 0.4%, with annual growth at 5.35%;
  • Loan balances increased by 2.69%, with annual growth at 5.81%; and
  • Net worth was 9.98%, higher than the National Credit Union Administration's "well-capitalized" threshold of 7%.
"As credit unions lend more to Minnesota consumers, it shows that consumer confidence is increasing as well," said Mark Cummins, MnCUN president/CEO. "We're glad to see credit unions contributing to the overall growth of the state's economy."


RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
9 hours ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
14 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
14 hours 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.
16 hours 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.
16 hours ago