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States vary widely on '09 loan growth--CU financial summary
MADISON, Wis. (3/12/10)--The Credit Union National Association (CUNA) has compiled its state-by-state Credit Union Financial Summary--highlighting the financial trends of the past year for credit unions and gleaned from the National Credit Union Administration's final call report release of 2009.
While the weak economy of the past 12 months continued the recent trends of depressed earnings, strong savings growth and weak loan growth , the latest state level financial summary report also shows there is tremendous variation across the country, said CUNA's economics and statistics analysts.
For example, while loan growth overall was rather anemic (at 0.8%), several states posted loan growth on par with industrywide asset growth numbers. Arkansas in particular saw loan growth in the double digits--at 11%.
In fact, each of the top 10 states in terms of loan growth outpaced the median asset growth (7.2%) of the country's credit unions as a whole.
To access the financial summary for December 2009, use the resource link.
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