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Missouri CUs see savings loan growth
ST. LOUIS (6/10/09)--Missouri credit unions experienced a growth in loans at a time when national loan numbers dropped, according to first quarter 2009 call report data from the National Credit Union Administration. For Missouri credit unions, the first quarter of 2009 saw assets increase 7.1% --to $10 billion from $9.4 billion at year-end 2008 (The Missouri difference June 5). Loans for the state's credit unions rose 0.8% to $6.5 billion from $6.4 billion. Nationwide, credit unions' loans have declined 0.1% to $565.2 billion from $565.9 billion. Other results for the state:
* Investments rose 26.2% to $3.2 billion from $2.5 billion; * Shares increased 6.6% to $8.4 billion from $7.9 billion; * Net worth declined 5.6% to $1 billion from $1.1 billion; and * Membership increased 0.8% to 1.33 million members from 1.32 million at year-end 2008.
"First-quarter statistics support the fact that credit unions are viewed by consumers as a financial oasis during a time of economic stress," said Rosie Holub, president/CEO of the Missouri Credit Union Association. "The performance of Missouri's credit unions demonstrates their commitment to strengthening their communities."


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