MINNEAPOLIS (1/17/13)--Members of Minnesota's credit unions borrowed more during the third quarter, a reflection of the state economy's gradual improvement, according to the Minnesota Credit Union Network's quarterly report.
Minnesota credit unions' loan balances increased 1.5% in the third quarter from the prior quarter, and were 4.5% higher than a year earlier (Dolan Media Newswires
Also, the MnCUN report indicated:
- Borrowing to finance new autos helped propel the quarterly rise, with volumes increasing 5.7% above June 30 levels.
- Credit union memberships in the state also expanded by 3.9%, compared with third quarter 2011.
- Minnesota members' savings continued to grow, with savings balances increasing 8.9 % from a year ago.