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Alabama CUs grow lend and members save
BIRMINGHAM, Ala. and TALLAHASSEE, Fla. (1/25/10)--Third quarter statistics indicate Alabama credit unions are outpacing the national credit union average in loans, savings and membership growth, according to the League of Southeastern Credit Unions. Alabama credit unions experienced a 10% increase in member savings--the highest increase in five years and 2% more than the national average. Alabama credit unions also added $500 million in new mortgage loans and $160 million in auto loans during the quarter. Membership in Alabama credit unions rose 3.5%--double the national credit union average over the same period. The state’s credit unions saw their assets grow 9.1%, which is 2% higher than the national average. Alabama has 135 credit unions with $14 billion in assets. The League of Southeastern Credit Unions serves credit unions in Alabama and Florida.
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