Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Georgia CU Affiliates Consumers still confident in CUs
DULUTH, Ga. (7/28/08)--Though consumer confidence in the financial services industry is shaky, Georgians have found safety in credit unions, according to Georgia Credit Union Affiliates (GCUA). The percentage of Americans saying that they have a “great deal” of confidence in U.S. banks fell to 32%, according to a June 23 Gallup poll. That figure is down nine percentage points from June 2007 and 17 percentage points from June 2006. About 1.8 million Georgians belong to a credit union, but many more have not discovered the benefits of belonging. “Credit unions might be one of the best kept secrets in financial services,” said Mike Mercer, GCUA president. Mortgages at Georgia credit unions grew by 14.9% for the past 12 months ending in March. Credit unions operate more conservatively and tend to hold more of their mortgage loans--70%--in portfolio rather than sell them to Fannie Mae and Freddie Mac in the secondary market, the league said. The state’s credit unions have a capital cushion of $1.84 billion. Credit union deposits are insured by the National Credit Union Share Insurance Fund up to $100,000.
Other Resources

RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
1 Day ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
1 Day ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
1 Day ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
1 Day ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
1 Day ago