Year-end Results Are In: CA State Credit Unions Grew 8.4%

Highlights from the year-end data for all 213 state chartered credit unions in California shows leaders in performance from asset growth to ROA.


California has the largest group of state-chartered credit unions (SCCUs) in the US, representing nearly 20% of all state-chartered assets nationally. Now, the results are in for 2004. With top 5 rankings in average loan and average share balance, credit unions look to California as a pacesetter.

California benefited from a dynamic real estate market where the median price paid for a home reached a new peak of $405, 000. This lead to a 23.5% growth in real estate loans outstanding. Much of this growth came from first mortgages and home equity lines of credit, which rose 17.0% and 60.4% respectively. Real estate loans now comprise 52.4% of the $40.2 billion total loan portfolio for these credit unions.

A number of these state-chartered credit unions posted outstanding results in key performance measures in 2004. A variety of strategies and tactics are reflected in the diversity of leaders in growth categories, earnings measures and balance sheet strengths.




Feb. 14, 2005



No comments have been posted yet. Be the first one.