Share growth has shifted dramatically since 2008, as low interest rates have driven members into more liquid accounts. IRA/Keogh growth slowed to 1.8% in 2012 from 12.5% in 2008. Share certificate growth was negative in 2012, with balances dropping 3.1% annually. Regular shares and share drafts, which saw some of the slowest growth in 2008, are now growing at double digit paces as members are not incentivized to lock up their money for such a low return. Money market shares have retained their strong growth, as they typically have slightly higher returns while keeping money fairly liquid. This component grew by 7.5% in 2012. Total deposits at credit unions posted 6.1% growth in 2012.
SHARE GROWTH BY COMPONENT – 2008 VS. 2012
DATA AS OF DECEMBER 31, 2012
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