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.