State of the States

Credit unions performed well in 2000, partly because of the economic growth, but most importantly because of their desire to provide benefits to their members. At June 30, 2000, average ROA reached 1.04% and loan growth skyrocketed to 12.76%. However, member growth decreased to 3.2%. While national figures provide the information on the state of the industry as a whole, it is also important to note which particular regions or states performed better than others.

 
 

Credit unions performed well in 2000, partly because of the economic growth, but most importantly because of their desire to provide benefits to their members. At June 30, 2000, average ROA reached 1.04% and loan growth skyrocketed to 12.76%. However, member growth decreased to 3.2%. While national figures provide the information on the state of the industry as a whole, it is also important to note which particular regions or states performed better than others.

For example, do you know which ''state'' saw the highest ROA - 1.54%? Do the quotes give it away? It's not a state, it's the District of Columbia. Next comes Virginia (1.28%) and Colorado is third (1.25%). However, loans grew the fastest in Arizona at 20.32%. Minnesota has also had a significant increase in its loan growth, which reached 17.54%, while Colorado had third highest loan growth of 17.20%.

As for membership numbers, despite the overall decline, some states have experienced an increase in member growth. In Arizona member growth reached 10.69%, which also explains the higher than usual loan growth for this state. Member growth in Vermont climbed to 6.55%, while Rhode Island's growth in members reached 6.27%.

To learn more about State of the States and Credit Union Directory, please visit /publications/directory.htm. The Directory lists all the states with their respective average ratios and rankings.

 

 

 

Feb. 12, 2001


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