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News Now

CU System
Alabama Regulator: CUs 'Doing Well'
MONTGOMERY, Ala. (8/14/13)--Alabama credit unions overall performed well last year, according to the Alabama Credit Union Administration.
 
For the state's 68 state-chartered credit unions, there was growth in 2012 and "in general, everybody's doing well," said Larry Morgan, head of ACUA (Montgomery Advertiser Aug. 4).

Credit union shares and deposits jumped 10.6% in 2012, while membership in credit unions increased 10%, said the agency's annual statewide report.   
 
Although growth at Alabama state-chartered credit unions cannot be labeled as "anything spectacular," it has been healthy and steady, Morgan told the publication.
 
Also, in first quarter 2013, credit unions nationwide tallied 95.7 million members--nearly a 2% gain from first quarter 2012, according to financial information and analysis firm SNL Financials' recent report. The numbers are consistent with statistics from the Credit Union National Association.
 
Credit unions added 2.7 million members nationwide in the past five quarters--which is more than the combined total of gains in the prior 11 quarters, said the SNL report.
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