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CU System
N.J. CUs 2Q performance exceeds national stats
HIGHTSTOWN, N.J. (10/12/10)--The New Jersey Credit Union League released the New Jersey Credit Union Quarterly Statistics for the second quarter 2010, indicating credit unions in the state exceeded national performance benchmarks. The report is made up of statistics compiled by the Credit Union National Association. It provides an overview of the trends in New Jersey in the second quarter, such as economic growth, home prices, employment changes and the unemployment rate. It also compares averages for New Jersey credit unions with the national averages for credit unions (The Daily Exchange Oct. 11). Highlights of the report include:
* New Jersey credit union memberships increased to 1.15 million--a first-half 2010 jump of 24,000 or 4.25% (annualized). The increase follows annual declines in memberships in each of the past three years. * The state’s 2.1%, 12-month increase in total membership is noteworthy when compared with population growth trends, the league said. The U.S. Census Bureau reports a 0.4% average annual increase in New Jersey’s population during the past decade. * If sustained through year-end, the increase would be the fastest in New Jersey credit union membership since 2002, when membership rose 2.2%.


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