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Corporate CU assets breaking records

WASHINGTON - Corporate credit unions are benefiting from the influx of shares at America's CUs. At the end of March, corporate assets reached $59.8 million, an all-time high. From a year ago March, six more corporates have reached the billion dollar mark, for a total of 14 such corporates. The...

By Staff Writer | Updated on July 31, 2001

WASHINGTON – Corporate credit unions are benefiting from the influx of shares at America’s CUs. At the end of March, corporate assets reached $59.8 million, an all-time high. From a year ago March, six more corporates have reached the billion dollar mark, for a total of 14 such corporates. The $59.8 billion mark was up 34.6% from $44.4 billion in March of 2000. The six new billion dollar corporates are SunCorp Corporate CU, Wisconsin Corporate Central, First Carolina Corporate, Northwest Corporate, Eastern Corporate and Georgia Central. Corporates’ growth has surged stronger than natural person CU growth. Since 1987, corporate CU assets are up 262%, compared with 165% for natural person CUs. WesCorp’s assets jumped an incredible $3.1 billion from April 2000 to April 2001. Its assets now stand at $16.4 billion.

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