Assets, Deposits Rise In Hawaii
HONOLULU -- Hawaii's credit unions recently posted $7.6 billion in assets for the first six months of the year, a 6.4% increase over the previous six months.
The Hawaii Credit Union League said loans were also up at 3.4% to $3.9 billion as was deposits, which rose 6.9% to $6.6 billion as of the end of June. The first six months of 2008 also saw a slight rise in membership to 816,325, which is up 1.2% over the same period in 2007.
Dennis Tanimoto, president/CEO of the league, said one of the reasons for the industry's growth in Hawaii is because credit unions did not offer subprime mortgages or engage in so-called exotic loans.
The league comprises 93 credit unions in Hawaii.