This week’s Callahan & Associates’ Trendwatch will highlight United States economic performance and analyze overall quarterly credit union performance. This quarter Callahan will also address key economic indicators to look for as a result of this year’s election.
According to Callahan's FirstLook at third quarter 2012 trends, credit unions nationwide are demonstrating their strength in lending, growing core deposits, and continuing to add members that are attracted to their cooperative model.
With 80% of the industry reporting second-quarter data, Callahan analysts have identified key preliminary third-quarter trends:
- credit unions originated $78.2 billion in first mortgages through September 30, up nearly 70% from the first nine months of 2011;
- membership growth shows continued strength, as FirstLook credit unions increased their membership by 4.0% annually, faster than their annual pace of 3.5% in June; and
- core deposits continue to grow, as members flock to credit unions and bring their accounts.
Both share drafts and regular shares are increasing at double-digit rates.
“Credit union results since the downturn have reflected an ongoing commitment to serving consumers, increasing the role credit unions play in the financial services market,” said Jay Johnson, executive vice president of Callahan & Associates. “With the election over, the nation will be moving forward to address critical issues. As the 3Q12 numbers are showing, credit unions have momentum as we head into 2013. The cooperative model can play an even larger role in the coming years with its consumer-first approach.”
Hear more about what to expect after this year’s election, insights into the most recent trends in the credit union market, the national financial outlook, and a broad view of the U.S. outlook during the 3Q 2012 Trendwatch call.
Credit unions interested in attending the Webinar should visit http://callahan.com/credit-union/trendwatch.aspx to register. The live event will be held on November 14 at 2 p.m. ET/ 11 a.m. PT, and again on November 15 at 11:30 a.m. ET/8:30 a.m. PT.
Callahan & Associates is a Washington, DC-based firm that delivers in-depth analysis of credit union quarterly performance through its proprietary software and financial publications. As a financial consultant, it also offers strategic planning and investment management for credit unions. Visit www.callahan.com to learn more.