In an effort to raise the visibility of credit unions' accomplishments in serving their members in particular and the economy in general, the consulting company Callahan & Associates plans to give a report on the industry's performance to the Obama administration.
The report will include state-by-state and consolidated financial information on industry performance in 2009. The firm is seeking the signatures of credit union leaders to include on the letter accompanying the report.
"Credit unions continued to lend throughout the financial crisis. With all the negative news about the financial industry, we believe it's time Washington learns about credit unions' excellent-incredible really-results," said Callahan President/CEO Chip Filson.
The report will focus on facts such as that in 2009 credit unions posted their highest loan origination volume ever, $271.9 billion, a 7% increase over 2008. The industry made 38,000 loan modifications last year.
The firm isn't certain how it will deliver the report.
For more information, or to sign on to the letter, go to www.CreditUnions.com/letter.
