Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
N.Y. CUs' Growth Exceeds National Numbers
ALBANY, N.Y. (12/18/13)--The Credit Union Association of New York noted that the state's credit unions continue to surpass national numbers in growth of membership and shares.
 
Annual membership growth clocked in at 3.3%, compared with 2.1% on the national stage, according to the analysis of third-quarter numbers.
 
Where share balances increased an average of 4.1% nationally, New York credit unions experienced 5.3% growth. As of Sept. 30, their total shares outstanding totaled $55.8 billion, the association said.
 
The average New York credit union branch originated more loans ($13.2 million) than the national credit union average of $12.9 million, and member business lending continued to strengthen. Just over 14% of the state's loans are classified as business loans--more than double the national average of 6.2%. A September-to-September comparison showed a 13% increase in member business loans.
 
"Credit unions across New York and the nation are continuing to build on the momentum they've gained since the recession," said CUANY President/CEO William J. Mellin.
 
New York's second-quarter numbers also were higher than the national averages, according to the association.
 
Other states with notable third-quarter growth include Iowa, Missouri, Minnesota, Idaho, and Cornerstone Credit Union League's members--Arkansas, Oklahoma and Texas (News Now Dec. 17).
RSS print
News Now LiveWire
#NewsNow: @CFPB offers tips for consumers who think their credit/debit cards have been hacked. http://t.co/rHnfYkJPIj
8 hours ago
See who's 1st to earn @CUNA's new biz development designation #NewsNow http://t.co/vn5ch4HkRC
9 hours ago
Joe Bergeron, president/CEO of the Association of Vt. CUs, has been re-elected to the board of the @NCBACLUSA
10 hours ago
NCUA reminds: CU managers/directors looking to improve leadership skills still can register 4 Leadership Boot Camps. http://t.co/0AUtIpWNqr
10 hours ago
Australia's Customer Owned Banking Association is @fileneresearch 's latest Gold benefactor.
12 hours ago