Doom and gloom reels off economists' pens when describing
the past two years of American economic development - or lack
thereof. However, some of the factors that have hindered the
economy as a whole have benefited the credit union industry.
Credit unions have grown tremendously for two years and continue
to raise the bar of net income expectations. With 2003 looking
to have similarly high performance, credit unions should still
be a strong target market for service providers.
The over-valued stock market of the late-nineties has since
declined for three straight years as part of a sizable correction.
People, no longer confident in stock market investments, looked
for safe-havens for their money, leading them straight to
insured savings accounts. These deposits in credit union savings
accounts, promising small returns but no losses, have driven
the double-digit credit union growth rates of the last two
Average Annual Share Growth
of 14% for the Last Two Years
Boosted Total Credit Union Savings to $495 Billion