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Credit unions demonstrated strong performance in several areas in the second quarter of 2020 – including membership growth, share balances, lending and asset quality – despite the economic challenges brought forth by the COVID-19 pandemic.
During Callahan & Associates' quarterly Trendwatch webinar Wednesday, Chief Collaboration Officer Jay Johnson and President/CEO Jon Jeffreys revealed healthy membership growth numbers, with credit unions adding 4.1 million new members over the last year, and tremendous growth in share balances. In the first six months of 2020, share balances rose nearly three times as much as they did during the first six months of 2019 (13.0% versus 4.9%).
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
