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News Now

CU System
Kansas CUs see strong 2Q
WICHITA, Kan. (9/18/09)--Kansas credit unions experienced growth in assets, loans and deposits in the quarter ending June 30, according to the Kansas Department of Credit Unions’ Second Quarter 2009 Call Report. Loans increased to $2.45 billion from $2.2 billion the year before. Total assets rose to $3.7 billion--a more than 12% increase, the department noted in the Wichita Eagle (Sept. 17). Total deposits climbed to $3.05 billion from $2.77 billion. Kansas credit unions experienced a 33% increase in loan delinquencies, largely because of assessments they pay to revive the National Credit Union Share Insurance Fund. Delinquencies rose to $31.9 million from $24 million, the newspaper said. Richard Yadon, Kansas Department of Credit Unions’ financial examiner administrator, said the gain in assets and deposits is because people are moving money out of the stock market and other investments into credit unions.


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