ALBUQUERQUE, N.M. (9/6/13)--New Mexico credit unions saw increases in loans and membership in 2012, according to figures from the Credit Union National Association.
Credit union loans outstanding jumped 7.2%, totaling $4.9 billion last year--a gain from $4.6 billion in 2011 (Albuquerque Business Frist Online Aug. 27).
Credit union membership statewide expanded to 710,600 from 692,000 in 2011, per CUNA statistics.
Also, New Mexico's credit union assets rose to nearly $8 billion last year from $7.4 billion the prior year.
The rate of delinquencies decreased last year down to 0.84% from 0.92%, as loans and assets grew.
In a related matter, credit union membership growth nationally is moving three times faster than U.S. population growth, according to the Credit Union National Association's monthly sample of credit unions for July. That report also reflects a continuation of strong, overall first-half-of-the-year results (News Now Sept. 4).
Total memberships expanded rapidly in July--increasing by 0.4% in the month and pushing them over the 98 million mark, Mike Schenk, CUNA vice president of economics and statistics, told News Now. To see the full article, use the link.