Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Ohios struggling economy impacted CUs during third quarter
DUBLIN, Ohio (1/4/08)--Ohio credit unions were affected by the state’s troubled economy, but weren’t hit hard by the subprime mortgage crisis, according to data from the Ohio Credit Union League’s 2007 Third Quarter Performance Report. Mortgage delinquencies remained at 0.83%. Ohio credit unions added capital, and their net worth increased 12.6%, said the league (eLumination Newsletter Jan. 2). Share draft penetration rose 6.9%, and non-interest income increased to 19.1%. Foreclosures, unemployment and a sluggish auto industry impacted credit unions according to Dave Shoup, league director of regulatory advocacy and compliance. Total income growth slowed to 7.3% annually, and membership fell 2.8% over the past 12 months. Loan demand was weak 75.1%, compared with 82.6% nationally. Mergers and liquidations slowed to nine in the third quarter, from 35 in 2006. Mortgage originations grew 11.5%.


RSS print
News Now LiveWire
NCUA re-schedules start of tomorrow's closed meeting to 9 a.m. ET. Open meeting still at 10 a.m. ET.
10 hours ago
.@lisamurkowski @SenatorEnzi @SenJohnBarrasso are latest to weigh in on NCUA risk-based capital proposal. See #NewsNow tomorrow for more
10 hours ago
Now up on News Now: Fed stays course on taper, interest rates http://t.co/6DntsW58vA
13 hours ago
Positive performance indicators and the potential for rising interest rates in @TheNCUA 's latest economic update. http://t.co/yptPbIGvnU
15 hours ago
The @CFPB has launched a nationwide effort to provide financial education. http://t.co/sF3FXHpv3k
16 hours ago