ALEXANDRIA, Va. – Federal credit unions that have added underserved areas to their fields of membership have had three year's of sharper growth in membership, shares and loans compared to Federal credit unions overall, according to data the NCUA has released. The federal credit unions that added underserved areas saw their membership grow 17.43% from 2000-2003, the agency reported. Shares grew 53.83% and loans 49.99%. By comparison, federal credit unions overall saw there membership grow 5.17%, their shares 41.28% and their loans 31.57%. Credit unions adding underserved areas added almost 12.5 million members in 2003, the agency reported. These credit unions added $75.3 billion in share deposits and booked just over $57.5 billion in loans.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
