NH Credit Unions Grow Throughout the First Three Quarters of 2008

The 23 credit unions headquartered in New Hampshire, which hold some $4.1 billion in assets, have seen growth in assets, deposits, loans and membership according to data compiled from quarterly reports released last week by the National Credit Union Administration.

Over the first nine months of the year the NH credit unions had aggregate growth in assets of 10% growing to $4.1 billion from $3.8 billion at the first of the year.  This figure was nearly double the national growth rate of 5.7%. 

Savings in New Hampshire credit unions are up by 7.5% since the beginning of the year.  Nationally savings grew by 5%.

Some of that money may have been deposited by new credit union members.  The data show that New Hampshire credit unions have added approximately 18,000 new members in 2009 to date representing a 4.5% increase.

Despite the fact that consumer has been hearing a great deal about the credit crunch New Hampshire credit unions are ready to meet their borrowing needs.  Loans outstanding at New Hampshire credit unions have grown by more than 10% or $250 million dollars since the beginning of the year.  Loans were up nationwide by 5.6%

Posted by Robert Kimmett on 12/03 at 03:58 PM