Credit Unions Supported Nearly 1 Million Jobs in 2010
According to this month’s Callahan Report, credit unions helped out the U.S. economy last year by supporting or creating more than 908,800 jobs.
The count includes 223,000 full-time jobs, 31,339 part-time jobs, 72,180 jobs via real estate financing, 454,000 jobs via automotive financing and 127,642 jobs from third-party support services.
The jobs will play an important role in America’s economic recovery, the report said, by fueling consumer spending and borrowing.
Chip Filson, president of Callahan & Associates, said he considers jobs a top priority and speculated that a goal of 1 million jobs for 2011 would be an impressive accomplishment for credit unions.
“Such a goal would dramatically illustrate how cooperatives contribute to the broader public purpose beyond their collective balance sheets,” Filson said.