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Pennsylvania CUs membership climbs to 3.4 million
HARRISBURG, Pa. (1/7/08)--Pennsylvania credit union membership grew to more than 3.4 million during the third quarter of 2007, according to the Pennsylvania Profile Third Quarter Economic Summary. The summary indicates that membership is at 3,410,000, up from 3,387,000 in September 2006 (Life is a Highway Jan. 4). Pennsylvania credit union savings balances fell $257 million in the third quarter of 2007, nearly 1% more than for credit unions nationwide. However, for the 12-month period ending September 2007, savings balances overall increased 7.4%, faster than the national average of 5.8%. Pennsylvania credit union loan delinquencies were 0.84%, nearly equal to the 0.82% national average and down from 0.88% in 2006. This compares with an American Bankers Association study that indicates the percentage of loans at least 30 days past due at banks rose to 2.44% in the July-to-September period, from 2.27% in the previous quarter, according to the Pennsylvania Credit Union Association.
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