Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Ohios struggling economy impacted CUs during third quarter
DUBLIN, Ohio (1/4/08)--Ohio credit unions were affected by the state’s troubled economy, but weren’t hit hard by the subprime mortgage crisis, according to data from the Ohio Credit Union League’s 2007 Third Quarter Performance Report. Mortgage delinquencies remained at 0.83%. Ohio credit unions added capital, and their net worth increased 12.6%, said the league (eLumination Newsletter Jan. 2). Share draft penetration rose 6.9%, and non-interest income increased to 19.1%. Foreclosures, unemployment and a sluggish auto industry impacted credit unions according to Dave Shoup, league director of regulatory advocacy and compliance. Total income growth slowed to 7.3% annually, and membership fell 2.8% over the past 12 months. Loan demand was weak 75.1%, compared with 82.6% nationally. Mergers and liquidations slowed to nine in the third quarter, from 35 in 2006. Mortgage originations grew 11.5%.


RSS print
News Now LiveWire
.@CFPB today finalized changes 2 remittance rule, proposed in April. See rule here: http://t.co/tPs6Mlimni
3 hours ago
State OKs Floridacentral #creditunion's bank branch purchase #NewsNow http://t.co/37uXorWsmV
6 hours ago
Today is deadline to order your T-shirt for #MiracleJeansDay @CU4Kids @CMNHospitals http://t.co/UXIqW3cFN6
6 hours ago
#Creditunion #100MM on display with @NWCUA's Minickiello, Wash. Rep. Sharon Tomiko Santos at @NCSLorg @CUNAadvocacy http://t.co/xVwnS39uEM
7 hours ago
Fraudsters hit @jpmorgan with smash and grab #phishing campaign http://t.co/VEkAvctYLJ
7 hours ago