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News Now

CU System
Pa. CUs loan balances savings growth up
HARRISBURG, Pa. (7/7/09)--Pennsylvania credit unions reported strong deposit growth for the first quarter of 2009, according to the Pennsylvania Credit Union Association (PCUA). Money market shares grew 8.8%. Regular share account balances grew 7.8%. Compared with national statistics, Pennsylvania credit unions are ahead in overall savings (Life is a Highway July 6). Loan balances at credit unions increased 1.2%. First mortgage loans increased 4.4%, compared with 1.4% nationally. New auto loans grew 1% and used auto loans increased 2.4% in Pennsylvania, PCUA said. PCUA also advised credit unions to plan for rising delinquency rates in 2010. The figures were taken from the Pennsylvania Profile First Quarter 2009 report.


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