Posted at: 01/04/2012 9:04 PM | Updated at: 01/04/2012 11:35 PM
Credit unions in New York state are experiencing growth that's well?beyond the national average?as more and more New Yorkers?use them for financial services instead of?banks.?
Third-quarter?statistics released by the Credit Union Association of New York?show?that assets grew by?6.48 percent statewide,?compared to?a 4.97 percent nationwide average.
Annual?growth for shares and loans, at?6.82 percent and?4.16 percent, also surpassed national?averages.?Nationwide,?shares went up by 4.97?percent, and loans actually decreased by?.05 percent.
New York credit unions originated $3.3 billion in first mortgages through the end of September 2011, which is 5.8 percent higher from the same time last year.?
Membership in?New York grew by?2.07 percent, compared to?the national average of a?0.65 percent increase.
William?J. Mellin, president and?chief?executive officer of the?association, says?credit unions expect to end?2011 on a positive note,?with an improving economy and growing?anti-bank sentiment.
And?the association expects the growth?trend to continue into?2012, especially while?other financial institutions raise current fees and introduce new ones.
Credit unions in?New York state have a combined?$56 billion?in assets,?and serve 4.5?million members.
For more Rochester, N.Y., news, visit our website at www.whec.com
Source: http://www.whec.com/news/stories/s2439132.shtml?cat=565
rick perry virginia tech mike martz hokies quadrantid norv turner work it
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.