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Ohios small CUs in good shape says league
COLUMBUS, Ohio (7/6/11)--Small credit unions in Ohio did well in 2010, and overall credit union performance in the state during the first quarter 2011 was above national averages, said the Ohio Credit Union League. Smaller credit unions--those with assets of $35 million or less--are in “good shape,” despite the problems and hardships of the past few years, according to a special report, “A Snapshot of Ohio’s Dynamic Small Credit Union Market,” from the league (eLumination Newsletter June 29). Overall, Ohio credit unions with assets of $35 million or less outperformed their Midwest peers in nearly all balance-sheet growth categories. Loan growth in 2010 was 0.2%, but bucked the national trend by remaining positive. Share growth recently exceeded the national average after years of lagging. The group also avoided the spike in delinquencies seen by others, which could be because many of the state’s credit unions don’t offer mortgages or they have very strict underwriting standards, the league said. Ohio’s smaller credit unions posted a positive bottom line during the past two years, besting the negative national averages. While member growth is -0.24%, it is experiencing an upward trend, said the league. Also, overall credit union performance in the state fared well during the first quarter 2011, with annual growth figures for assets, shares and loans all exceeding or similar to national averages, according to the latest Ohio Credit Union Quarterly Performance Summary from the league. Loan volume increased 14% over March 2010, with delinquencies declining 15 basis points to 1.21%--below the national average of 1.63%. Membership growth remained positive for the ninth consecutive quarter and now exceeds the national average, the league said.


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