Total Credit Union Assets Still Surging; Pass $600 Billion
It took the credit union movement most of its history to hit $500 billion in total assets, a mark finally reached in
According to CUNA's economics and statistics department, credit union assets reached $600 billion at the end of the first quarter
During March, savings balances in credit unions were up 1.2%. "The 5.5% year-to-date growth is close to the 5.8% growth for the
CUNA VP-Economics & Statistics Mike Schenk said the pace of savings growth remains strong due in part to the war in Iraq.
Loan growth remains anemic, growing at less than one-fourth of 1% the last three months," CUNA's analysis showed.
"Loans outstanding increased 0.2% during March while year-to-date loans grew 0.1%," CUNA reported.