State-chartered CUs healthy and growing
NEW ORLEANS. - As NASCUS gets ready to begin its 37th Annual Conference here Sept. 7-10, the association can also celebrate the health of the state-chartered credit union system. Comparative key ratios of state-chartered credit unions to federal CUs compiled by the Massachusetts Credit Union Share Insurance Corp. and based on NCUA data show in areas such as loans, member and share growth, SCCUs are sound. Key State-Chartered CU Facts & Figures (as of Dec. 31, 2001) * State-chartered credit unions account for 40% of all CUs in the U.S. * The largest credit union in the country is a state-chartered corporate, U.S. Central, $30.1 billion in assets. * Of the five largest natural person credit unions in the U.S., three of them are state-chartered * 91% of the 4,270 SCCUs are insured by the NCUSIF. Deposits in the remaining SCCUs with more than $5.15 billion in assets are cooperatively insured by ASI, CUIC or PROSAD-Corp.