Despite The Lack Of Economic Activity, We Are Growing Strong

 
 

Economic activity is flat. Our economy is/was manufacturing-based. We lost 5 GM plants and a large multi-national company over the past 3 years. Our lone economic bright spot is the large military base that serves as our core market. However, with talk of sequestration and military cutbacks, the base is always a concern.

Unemployment runs 9.0% or so and is relatively flat. Despite the lack of economic activity in the area we have produced strong loan growth as the result of a robust and aggressively managed indirect loan program. We have a strong mortgage program also, but have been selling most product into the secondary market. We have been controlling deposit growth through loan rates, preferring to only attract new deposits as needed to fund loan growth.

Doug Fecher, CEO
Wright-Patt Credit Union
$2.6B, Fairborn, OH

 
 

Feb. 15, 2013


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