Credit unions’ 13.2% share growth rate over the past year is 70% higher than the 7.7% pace of loan growth. However, three states have seen loan growth exceed share growth in the last 12 months. Not surprisingly, these are three of the top four states in loan growth since June 2001.
Rhode Island, Colorado and Oregon have the unique distinction of experiencing loan growth that exceeded share growth from June 2001 through June 2002. Rhode Island’s 14.51% loan growth rate is the fastest in the nation and over two percentage points higher than its share growth rate, while Colorado’s loan portfolio grew at a rate 18.5% faster than shares. These are three of the six states that recorded double digit growth rates in both loans and shares over the past year, along with Virginia, Massachusetts and New York.
See where your state ranks in these two categories in the table below. For your state’s national ranking on 11 other key measures, get your copy of Callahan’s just released 2003 Credit Union Directory.