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NCUA Praises CU 2011 Performance

Annual report shows agency closed or merged 245 credit unions, while overall membership, savings and lending grew.

By David Morrison | Updated on March 01, 2012

Despite having closed or merged 245 federally insured credit unions in 2011, the NCUA nonetheless has declared federally insured CUs ended 2011 sounder than they had been in 2010.

“Credit unions ended 2011 in a safer and stronger position than at the start of the year. During the fourth quarter and for the entire year, credit union savings and lending grew at healthy rates. Credit union membership also reached an historic high of 91.8 million on Dec. 31,” said NCUA Board Chairman Debbie Matz, praising the numbers.

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