PARKERSBURG, W.Va. (2/15/12)--West Virginia credit unions' assets grew 6.6% as of June 30 from June 2010--more than double the national median rate of 3%. Full 2011 figures are not yet available.
Projecting out to year-end 2011, credit union assets in the state will exceed $3 billion for the first time--a significant milestone, said Rich Schaffer, senior vice president of the West Virginia Credit Union League (Charleston Gazette Feb. 12).
In the mid-1990s, credit union assets in the state surpassed $2 billion, which was a big accomplishment, he told the newspaper.
Those figures don't include the effects of Bank Transfer Day on Nov. 5 and its aftermath, the paper said.
Also, loans at West Virginia credit unions grew modestly in the year ending June 30--rising 0.4%--but besting the national median, which was a 2.1% decrease.
Citing auto loans as the "bread and butter" of credit unions, Schaffer told the paper he predicts a full percentage point gain in the state's credit union loans for calendar year 2011.