FARMERS BRANCH, Texas (3/16/12)--Texas credit unions closed out 2011 in strong form, reported the Texas Credit Union League in its fourth quarter 2011 Texas Profile.
Membership in Texas credit unions jumped to more than 7.7 million from 7.5 million. "Grassroots movements like Bank Transfer Day and International Year of Cooperatives have undoubtedly influenced consumers to take a second look at credit unions," the league said in its newsletter, LoneStar Leaguer (March 14).
Texas credit unions also saw increases in assets, loans and savings during 2011, and the percentage of credit unions to see positive returns on assets rose to 80% in 2011 from 57.8% the year before. Nationally, the percentage is at 76.3%, said the league.
The percentage of the state's credit unions reporting a 7% or better capital ratio also rose, to 95.3% from 94.5%. Delinquencies, charge-offs and member bankruptcies remained low for Texas credit unions, said the league.