The corporate credit union market share in 2007 was about 20%. As of July 2010, it was down to 7.7%.
"That share is at a 30-year low and indicates that credit unions are vacating the corporate credit union system en masse," said Charles Felker, managing director of regulatory services at First Empire Securities Inc. and managing director of Balance Sheet Management and Consulting Services Inc. "What's happened during this period of time to accelerate the exodus of this, if you will, was the corporate meltdown. That served to accelerate the exodus. If you wanted to go back about 20 years, corporates held almost 50% of the investments of credit unions. This is my own personal recollection."
Felker, who also served as a former NCUA chief investment officer, said that the gradual loss of market share is something that has been in the works for many years but has accelerated in recent years.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
