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CU System
CU System briefs (06/18/2009)
* SYDNEY, Australia (6/19/09)--Australian credit unions experienced a 13% growth in deposits in the past year, according to the Australian Prudential Regulation Authority (Australian Financial Review. Deposits in the nation's credit unions totaled $4.5 billion. Of that amount $4.3 billion were term deposits, the regulator said. It did not state what caused the increase, but credit unions in the country, like credit unions all over the world, have seen an inflow of deposits from consumers worried about the economy … * HARRISBURG, Pa. (6/19/09)--Credit Union National Association senior economist Mike Schenk provided a look at the state of the economy, both national and in Pennsylvania, during a CEO Leadership Workshop in Harrisburg Wednesday, said the Pennsylvania Credit Union Association. Schenk noted that while numbers are bleak, there is light at the end of the tunnel. The outlook will still be dark for some time, but the economy is moving in the right direction, he said. The good news: credit union loan growth is nearly double the rate found during times of economic downturns, he told the group (Life is a Highway June 18) …


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