Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
11 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
12 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
13 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
13 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
14 hours ago