The corporate credit union industry is riding-high as the nation's
natural person credit unions continue to see a strong inflow of
shares, while loan growth remains mediocre.
Corporate assets hit a new all-time high in January, reaching $73.8
billion, up $4.9 billion from December (see below). Shares increased
8.4% during the month for the 32 retail corporates. Two of the big
winners for the month were Iowa League Corporate and Southeast Corporate,
which increased shares by 26.9% and 18.5% respectively.
With so much liquidity, many credit union investment vehicles are
experiencing excellent growth. Not only are the corporates doing
well, but credit union mutual funds like the Trust for Credit Unions
are also reaching record balances ($4.2 billion as of 4/1/03).
In other corporate news, Missouri Corporate CU has announced that
it plans to merge with Midwest Corporate FCU, which will create
a regional corporate with about $1 billion in assets.