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News Now

CU System
Louisiana CUs grew several hit milestones in 2Q
HARAHAN, La. (9/28/12)--Louisiana's 212 credit unions ended the second quarter with $9.29 billion in total assets, and several Louisiana credit unions hit asset milestones this quarter as well, according to the Louisiana Credit Union League.

Assets milestones reached by the state's credit unions include:

  • Exceeded $10 million--New Orleans Clerks & Checkers FCU ($10.08 million) and Morton Weeks FCU in Lydia ($10.10 million);
  • Exceeded $50 million--First Castle FCU in Covington ($50.97 million).
Louisiana credit unions experienced 6.2% asset growth, compared with 6.9% nationally; 6.4% savings growth, compared with 7% nationally; and 3.7% loan growth, compared with 3.5% nationally.

Membership growth for the second quarter in the state was 0.9%, compared with 2.4% nationally. The state's credit union membership growth is lower than the nation for the second quarter of 2012, but it is higher than the -0.2% growth the state's credit unions had at the end of 2011. 

At the end of June, the nation's 7,103 credit unions had $1.02 trillion in total assets.

The league works with the Credit Union National Association's Economics and Statistics Department to analyze quarterly data submitted by credit unions to the National Credit Union Administration. It then provides a quarterly report showing trends in various areas including loan and savings growth, risk trends, membership trends and other areas.

The Louisiana league also provides a "milestones" report that looks at top credit unions in the areas of loan penetration, share draft penetration and average savings balances. The report highlights credit unions that reached and exceeded certain asset amounts, members and loans.


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