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News Now

CU System
Massachusetts CUs 2Q assets deposits loans up
BOSTON (9/17/12)--Massachusetts credit unions were in the top 20 states in two out of eight categories of statistics in the second quarter state-by-state performance review released recently by the National Credit Union Administration.

The review shows the percentage growth for the credit unions of each state year over year as of the end of second quarter, said the Massachusetts Credit Union League (E-Weekly Sept. 10).

The two categories were percentage improvement in charge-offs and in loan growth. Massachusetts credit unions' chargeoffs improved to 0.47%, the 17th lowest number nationally. Their loan growth increased 4.7%, which means Massachusetts ranks 19th among the states. The national average loan growth was 3.2%.

Total assets in Massachusetts credit unions rose 5.3% over June 30, 2011, compared with a national increase of 6.9%. Deposits in the state's credit unions grew 4.9%, compared with the national average of 6.90%.


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