Wednesday, October 3, 2012

Credit union membership, assets are up throughout Texas - San Antonio Business Journal:

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The growth came despite a 3.7 percent drop in the number of credit union institutions across thestatwe — from 589 in the first quarterf of 2008 to 567 in the first quarter of 2009. credit union membership statewideincreased 2.8 percentr from 7.1 million to 7.3 million duringf the same period. The TCUL represents more than 750 credit unions in Assets increasedby 10.6 percent to $61.3 milliob from the first quarter of 2009, up from $55.4r million in the first quarter of 2008. And loansd grew by 9.3 percent from $36.12 million in the first quarter of 2008to $39.67 million in the first quarter of 2009.
TCUL Presidentg and CEO Dick Ensweiler says the tough economg is driving more consumers towardcreditt unions. “We have been strong, safe, and secure for 75 and continue to be so by focusinv on the needs ofour members,” Ensweiler “Even a recent poll showed that members’ and nonmembers’ imagwe rating of their credit union is significantly higher than other alternative financial institutions.” Despite the billions of dollars available for lendingy and the growth in the industry, Ensweiler says credit unionss only have a 1.3 perceng share of the first mortgage marke and 1/10 of 1 percent in the business loan area.

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