Credit unions ended the third quarter with solid growth and a strong balance sheet, even as the fallout of the current economic conditions continues to be felt. Highlights at the end of September were:
• Assets up 7.0% over the last twelve months to $814.0B
• Credit union loan portfolio grows 7.2% annually
• First mortgage originations up 20.7% versus the first nine months of 2007
• Share balances grow 5.8% over the last 12 months
• Credit union membership increases 1.5% to 89.9M
• Credit union total income up 3.6% year-over-year
Download the full 3Q Quarterly Report for more on earnings, capital, operating expenses, and productivity.