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News Now

CU System
Ohio CUs 2Q growth defies state trends
DUBLIN, Ohio (9/18/09)--The second quarter of 2009 was strong for Ohio's credit unions, according to the Ohio Credit Union League. Mortgage originations at Ohio credit unions experienced "phenomenal growth" the past 12 months, increasing 50.2% despite the weak housing marketing, said the league, citing its latest Ohio Credit Union Quarterly Performance Summary. Outstanding auto loans rose by 12% annually in June, which brought Ohio credit unions' market share to 18.4%. That is up from 10% a year earlier, said the league (eLumination Newsletter Sept. 16). Membership growth in the state during the first quarter continued through June, reaching 2.66 million members. Total delinquencies rose to 1.37% in June, up from 1.09% the previous year and below the national average of 1.59%. Capital levels remained high at 11.3% of assets, said the league.


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