Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Wisconsin paper CUs thriving despite U.S. downturn
MADISON, Wis. (9/30/08)--Credit unions are thriving in southern Wisconsin, despite the national economic downturn, according to The Wisconsin State Journal in an article package that took up three fourths of the front page of the paper's business section. The page included a large chart with Bankrate.com and Bauer ratings for nearly 50 credit unions in the area, flanked by two articles--one on the state of the area's credit unions and the other on three proposed mergers involving six area credit unions. The ratings article pointed out that while some banks in the state have struggled with quarterly losses, credit unions there grew overall in assets--up 9.2% to $17.8 billion on June 30--and net income--up 17.2% to $62.1 million from last year--during the first half of 2008. "Credit unions are doing quite well," said Brett Thompson, president/CEO of the Wisconsin Credit Union League in the article. "They go their start in the Depression and came out of tough times. That's what they came from and what they're all about." The article also discussed the merger trend, with a local economics professor noting that merging with a larger credit union can help diversify membership base and attract better employees, and state regulator Suzanne Cowan, director of the state Office of Credit Unions, who said the first half of 2008 was "fairly good for credit unions." It singled out MATC CU of Madison, which hasn't had a delinquent loan in several years, and Teachers CU of Beloit, which ranks among the top 1% credit unions in the nation.
Other Resources

RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
5 hours ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
7 hours ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
7 hours ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
7 hours ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
9 hours ago