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Deposits Move to Ohio CUs in Turmoil Fallout

DAYTON, Ohio -- Ohio credit unions are starting to reap real financial benefits from banking's woes and the market turmoil as CUs start getting new deposit business, CU officials reported Thursday.

By Jim Rubenstein | Updated on July 24, 2008

DAYTON, Ohio — Ohio credit unions are starting to reap real financial benefits from banking’s woes and the market turmoil as CUs start getting new deposit business, CU officials reported Thursday.

“Look, we know this is coming at the expense of some banks amidst the gloom and doom, but we have a great story to tell,” said William Burke, president/CEO of the $157 million Day Air CU, Kettering, which in the last two weeks has witnessed a $500,000 deposit increase attributed to consumer concern about banks and deposit insurance.

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