Loans Are Strong, We Struggle More With Deposits


We find that the market for loans continues to strong for us. In 2012, our credit union ($900 million) originated some $220 million in real estate loans, and another $80 million in consumer loans, not including credit cards, which we partner with another card provider for.

We continue to have a mortgage pipeline of $30 million dollars per month, and in 2012 sold over $100 million to the secondary market.

We have struggled more with deposits, especially when we stopped paying up for CD's.  Over the past 4 or 5 months, we have begun to reverse this trend, and as a result our CD portfolio is again on the rise, with selected maturities being featured to complement our expected loan durations.

For 2013, we are still expecting more of the same, at least for the first part of the year, as home purchases are now competing equally with mortgage refinances. Our auto business also continues to be strong, now that we have centralized the dealer business with a cohesive and motivated sales team.

Richard Rogers, VP - Retail Operations
Workers' Credit Union
$892M, Fitchburg, MA


Feb. 1, 2013



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