Oregon and Washington credit unions grew at higher percentages than banks from 2011 to 2012, while overall deposit market share showed a slight year-over-year growth, according to a financial analysis by the Northwest Credit Union Association.
Based on deposits by branch, Northwest credit unions saw a 9.96% deposit growth compared to an 8.16% deposit growth by banks in Oregon and Washington from July 2011 through June 2012, the association said.
According to Dan Hein, NWCUA vice president of administration and finance, that growth can still be partially attributed to the "flight to safety" that was common from 2008-10, when consumers sought a more secure location for their savings than the stock market.
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